Milestone Systems, a leading provider of open-platform video management software, has announced plans to expand its video management solution beyond the security industry. In this context, the company plans to offer specialised solutions for various industries, including a special solution for the healthcare sector.
At the Milestone Partner Summit (MIPS) 2022 in Dubai, Milestone Systems CEO Thomas Jensen unveiled the company’s new strategy. The provider of open-platform video management software, XProtect, aims to expand beyond the security industry into additional business sectors with video technology solutions in the coming years. As part of its new growth strategy, the company, headquartered in Copenhagen, Denmark, aims to more than double its annual revenue over the next five years. The company is also committed to consolidating its own position as a socially responsible company.
“We are preparing to revolutionise our industry by offering data-driven video technology not only in the field of security,” Jensen announces.
New specialised solutions
Milestone, a software company celebrating its 25th anniversary next year, had record sales of 1.1 billion Danish kroner last year and employed more than 1,000 people worldwide. From 2023, Milestone plans to expand into additional industries with new solutions. The technology provider’s core offering in the field of security video management will remain in place. Next year, the company will launch new solutions for the healthcare sector.
“We are looking to a future where data-driven video technology is a game changer in making the world a better place for all of us,” Jensen proclaims to Milestone’s partners, systems integrators, security specialists and service providers gathered at MIPS 2022.
Jensen explains how the open-platform video management software XProtect works. The software, which can be combined with a variety of devices, sensors and other software solutions, makes it possible to track complex issues through recorded real-time video footage. By using artificial intelligence and data-driven video technology, XProtect will soon be able to predict events before they happen.
In addition to further investments in its core business and XProtect software, Milestone will become a responsible role model for other leading technology companies in the future in terms of its own business practices.
“The technology industry has been a bit like the Wild West. Over the last 20 years, tech companies have become increasingly powerful, perhaps too much so,” says Jensen. “The result has been the techlash – a backlash against tech companies, with society increasingly demanding regulation of tech companies.
The Techlash can be seen as a warning. The ‘Wild West’ is now over. The implication for us is that current and future generations have very different expectations of technology companies than they did five years ago. That’s the next challenge for the industry: we call it responsible technology, which brings into focus the ethical orientation of companies in the technology industry.”
Strong ethical focus
Strong ethical focus has always been part of Milestone’s DNA. As a co-author of the 2017 Copenhagen Letter, the company always puts people first when developing and using new technologies. Milestone has incorporated the statement from various companies into its end-user licensing agreements.
“Looking ahead, we want people to feel safe because they can trust our technology. Together with our partners, we want to move forward and strengthen our commitment to responsible technologies by introducing even more initiatives and focusing on the development process as well as the application possibilities of our technologies,” Jensen explains.
Reflecting on Milestone’s ambitious growth strategy, Thomas Jensen highlights how the company has pushed technological boundaries in the past: “Together with our partners and a handful of other technology companies, we have helped define modern video surveillance. We have been leaders in the transition from analogue to IP technology in the security industry.”
Reflecting on Milestone’s ambitious growth strategy, Thomas Jensen highlights how the company has pushed technological boundaries in the past: “Together with our partners and a handful of other technology companies, we have helped define modern video surveillance. We have been leaders in the transition from analogue to IP technology in the security industry.”
“Looking to the future, we are preparing to revolutionise the industry once again by deploying data-driven video technology across the board,” Jensen explains. “Together with our partners, our mission is to deliver business results – which means focusing on the value we provide to our customers that helps make our society more productive.”
