After announcing the acquisition of Luxembourgish startup Docunify IP Company, Edith Magyarics, CEO of Victor Buck Services, met with the BEAST team to discuss the global strategy of her company, from the need to always serve the client and answer their needs, to the importance of collaboration with local and international partners, in order to further develop the Luxembourgish tech and innovation ecosystem.
In view of the rise of sophisticated cyberattacks, the conversation started with Edith Magyarics highlighting the growing need to secure documents and data in a context of digital transformation. « Given the risk of dispersion of vital data, Victor Buck Services, the international service provider, equips its customers with secure solutions thanks to its expertise across the entire information value chain, » she added. From information collection to its transformation and distribution to the proper
recipient or workflow, Victor Bucks Services provides a wide range of print and digital solutions enabling its clients to engage with any party or leverage exchanges within their organizations. « We want to be at the forefront of our clients’ challenges and that is why we strive at supporting them in improving their efficiency and tackle their security challenges », explains the CEO of the company located in Capellen. According to her, it is crucial for Victor Buck Services and for any company evolving in the digital sphere to stay up-to-date regarding the latest trends, but also to get their processes certified. For instance, Victor Buck Services was the second company to comply with the PSDC regulation in Luxembourg back in 2017.
Data protection and customer centricity at the center of digital transformation
« People see digital transformation as a challenge. But if you look at all the industries and at all the emerging technologies, we notice that the real challenge for companies – and clients – is actually the protection of data. For instance, last year in Singapore, a cyberattack on the government’s health database caused the loss of 1,5 million sensitive data. Moreover, the total prejudice related to cyberattacks amounted to almost 150 billion euros globally in 2017, » stated the CEO. Therefore, whether we are talking about AI, chatbots, robotics or RPA, the main challenges for companies clearly remain data protection and necessarily cybersecurity. Moreover, with customers across the globe, from the United States to Australia, the services provided by Victor Bucks Services, need to be available 24/7. As explained by the CEO, « the concept of customer centricity is key nowadays. In this perspective, the very sensitive data we manufacture, enrich, distribute for our clients require us to maintain a high level of trust and protection around any of our processes. Our main focus in this space is to offer a secure infrastructure to store our clients’ data, work on certifications to guaranty the security of the whole information lifecycle (PSDC-DC, ISO 27001 which has been entertained and we are waiting for the final decision of the certifying entity) and have regular audits and pentests ».
Cooperation, the key to success
In May, Victor Buck Services announced the acquisition of Docunify IP Company, a startup based in Luxembourg that won the FEDIL Innovation prize last year. It is an « Admintech » and aims at creating collaborative experiences enabling users from various locations to simultaneously edit, finalize and sign documents. « With the recent acquisition of Docunify IP Company, we are consistent in our approach towards innovation. From digitization to e-archiving, Docunify is completing the puzzle, » underlines Edith Magyarics.
When discussing innovation, the CEO advocates collaboration, and wants all participants to exchange, discuss and share, in order for the entire ecosystem to grow. « We know we cannot exist alone and strongly believe that we need to partner with others, from all industries, get support from external parties, look if something already exists that could fit our value chain instead of re-inventing the wheels. We invest time in various organizations to share ideas, we value the expertise others have, work on sharing ideas: we are part of a whole and each has a role to play! »
In terms of business and interoperability, the SaaS solutions developed by Docunify enables clients to create, review, sign and share documents in a secure digital collaboration platform. It offers flexibility and security allowing the clients of Victor Buck Services to collaborate with both internal and external third parties with a high level of trust without imposing too heavy constraints to users. On the other hand, the Docunify clients also immediately benefit from the knowledge and expertise of Victor Buck Services, which notably guarantees a strong security aspect through its PSF status and other certifications. « They also benefit from our product management and business development to enrich their experience with new features. Also, the existing Docunify clients will build on the international presence of Victor Buck Services, its 24/7 service, around the world and additional solutions to their document/information management, » said Edith Magyarics.
Therefore, by acquiring Docunify IP Company and partnering with innovative players, Victor Buck Services is pursuing its purpose: to offer customers a variety of solutions to meet the challenges of the modern economy through innovation.
A growing innovation ecosystem in Luxembourg
As explained by Edith Magyarics, the country of Luxembourg may be small, but it is fostering a considerable amount of innovation, through its dynamic startups ecosystem, notably. « Luxembourg is also multicultural and multilingual. Many companies here are serving and supporting clients across the globe and have developed a specific expertise, especially in the fields of ICT, financial services obviously, but also logistics, etc », added the CEO of Victor Buck Services. According to her, there is an incredible spirit in the country, backed by several government initiatives in the space, energy, and ICT sectors, all including eco-responsible aspects. There is a clear and strong willingness to move and act. For instance, in the field of cybersecurity, according to the international union of telecommunications, Luxembourg is ranked 11th among 175 countries in terms of engagement for cybersecurity source.
« Our strategy is clear: we want to expand our international presence to support existing or new clients, but also expand on the type of businesses we serve. Finally, our goal is to implement new ideas and solutions. At Victor Buck Services, we like to say ‘share your dreams, we may deliver a piece of it or help you find all the pieces to make the puzzle complete’, » concluded Edith Magyarics.