In full pandemic, Coveo has never tightened or almost its purse. The objective of being able to take maximum advantage of the recovery of the economy. Moreover, after The Blue Basket, the chairman Louis Tetu would like to see the government focus on innovation blue.
In recent weeks, as the majority of businesses in Quebec to continue their activities, Coveo has had to learn to juggle with telework.
The company specialized in search solutions and customization by artificial intelligence had, amongst other things, improve some of its software and equipment in order to maintain its productivity.
The directorate has also had to adapt to the reality of marriage under the same roof between family and work. To facilitate the life of its employees, Coveo has implemented a program to deliver meals to the parents of children. A bank holiday of ten days has also been added.
“We had to adapt “, hereby grants to the Journal, Mr. Stubborn, stating that its priority was the safety of its employees and their well-being. “The company had become a source of stability and security to our workers, as much a financial point of view and for their family,” he continued.
The time to invest
Once this point is settled, Coveo, which has more than 500 workers in the world, supported on the fungus for its development. With the COVID-19, several companies have been forced to quickly embark on a digital transformation to maintain a source of income.
“This crisis-where, while acknowledging the human tragedy, going to be a catalyst for outdated business models,” says Mr. Stubborn. “The release of this pandemic, we will see a rush towards innovation, modernization and digitization of businesses. It is certain that electronic commerce will grow, ” he continued.
The latter specifies that the consumers learn to live with new business models. It is estimated that some of these habits will remain.
“We are in the field of digital experiences. It is part of the modernization movement. Currently, there is a greater investment in certain sectors. In the first quarter, we hired 58 new employees. Just in research and development this year, it plans to hire 94 more, ” says Mr Stubborn.
Coveo, which has an estimated value of more than $ 1.4 billion provided at the beginning of the year, a jump of 40 % of its revenues. Because of the COVID-19, the company is targeting a growth rate of between ” 25 % and 30 % “.
We don’t ” not save “
Questioned on The Blue Basket, a platform to put before the québec companies, Mr. Stubborn has welcomed the initiative, stating that it us ” will save not, however,”. The business man is of the opinion that “innovation blue” will be “more important” to the end of the crisis.
“If the Blue Basket disguises for protectionism, a lack of competitiveness, international businesses, this is not good. The Blue Basket does not remove the need of our exporting companies to be competitive for the import of new money “, says Mr. Stubborn.
“This, this is going to be done with the stroke of innovation. At the exit of this crisis, there will be a race for innovation. It’s going to take innovation blue. This means to innovate with us to our benefit. Innovate to Morgan Stanley or Facebook to Montreal, I’m not sure that it is for our benefit, ” continues the president, also known for having the world’s Taleo which was sold for $ 1.9 billion.
Mr. Stubborn was accused last February of the organizations such as Montréal International, to impoverish the province of Quebec in wanting to attract foreign companies at any cost. He deplored also the fact that talent quebec out of our school are recruited by these companies.