In the first half of our two-part interview with the CEO of Fluenta Europe Ltd, Ákos Szabó, we talked about the significantly changed situation of the international market and the difficulties of the past year.
Looking back, how would you characterize this past year? What do you consider 2022’s greatest challenges?
Ákos Szabó : It was a difficult year; due to the changes in the global market, there was a lot of turbulence. Of course, everyone was affected by the Russo-Ukrainian War and inflation.
I would say the greatest challenge of 2022 was the vast amount of change; there were a lot of impulses, you had to be very attentive to be able to react to everything. For example, I read a lot more articles on the state of the economy, I checked a lot of statistics and carried out more analyses on the economic environment, because everything was constantly in motion. I frequently say that everything was repriced.
What happens on the market, what our clients have to endure is generally determined by the global economy; in 2022, probably the most painful of these economic factors was the exceptionally high inflation, which has unfortunately had a significant impact on Hungary. This is disadvantageous on several fronts as people start to worry about what will happen to them and their livelihood, it affects their morale negatively and results in an uncertain view of the future.
I, however, see the situation a bit differently. I believe that when the external environment is like the one we have experienced, everyone has to understand that it is better to endure this relatively small pain now than to carry it with us for up to a decade. I think that for instance the topic of the energy crisis is blown out of proportion: it will hurt, yes, but if we face it, understand it, and do something about it, it will only cause issues for a relatively short time. In my opinion, this method is better than doing nothing.
What were the biggest changes for Fluenta Europe this past year?
Á.Sz.: I consider it a definite success that we achieved our goals for 2022 with realistic deadlines and resources. We started an internal transformation process, we integrated a new, complex marketing- sales-CRM software, which allowed us to completely rethink and redesign our internal operations. This change opens the door to the growth of the company. To use an analogy, we have been handed a hammer that will help us forge new things more effectively.
For that matter, I think that things will be a lot more difficult for those who do not start working like this in the future.
The company changed not only its name and logo, but also moved offices. What prompted so much change?
Á.Sz.: By changing the company name, we aimed to put an end to the discrepancy between Electool, the company and Fluenta, the product. The name change was accompanied by the revision of our design elements: on the one hand, our new logo made our appearance more modern; on the other hand, it was a way to create an interconnection, a bridge between our marketing, the market, and our product. I believe we have achieved that goal; it is a primary objective for 2023 to improve our marketing representation even further.
There was a very simple reason behind moving offices: our previous lease expired. Additionally, regardless of the lease running out, we wanted a space that was more suited to us, more customized to our needs. Our new office is located in the heart of “downtown Buda”, on Bartók Béla Boulevard; it is comfortable, bright, and has a terrace with a spectacular panoramic view that our employees love.
How did the negative global market changes affect Fluenta Europe? Have you experienced difficulties with your customer base? How did you overcome these?
Á.Sz.: I would rather say that our clients have started thinking about their product use more realistically, which made working and planning together with them more effective. New demands have appeared on the market which resulted in new clients who realized that digitizing their processes allows them to save more and react to external and market changes with more flexibility.
Actual trouble would come from a change so drastic that it created a barrier in our potential customer base’s mind; a barrier they thought they could not get over. It has happened before, after Lehman Brothers filed for bankruptcy in 2009; we saw this phenomenon then, and it took six to nine months to be resolved.
I do not think 2022 was this bad economically. The negative change is more on the social side of things: people in general have an increased level of fear. In my experience, people are more afraid of inflation than COVID. Maybe because with regards to the pandemic, they thought there would be some external help that could save them (for instance, a vaccine), but they do not have such hopes about inflation.
However, difficulties often provide great opportunities. After all, when everyone is doing great, most prefer to stay in their routine. People generally do not like change, but you have to see that change is exactly what gives you a chance to rise. Of course, nobody likes hard hits, but in this regard, I do not consider change a drawback, but rather an opportunity. When the world is in motion, and our partners are affected by something that resonates with them a bit differently, we can start thinking about things together. If we reach the right places with our message then, it can turn out well for everyone.
