Mission Statement, Vision, & Core Values (2024) of Micro Focus International plc (MFGP)

An Overview of Micro Focus International plc (MFGP)

General Overview of Micro Focus International plc

Micro Focus International plc (MFGP) is a multinational software and information technology organization, headquartered in Newbury, Berkshire, UK. Established in 1976, the company has a rich history providing enterprise software solutions and has grown through numerous acquisitions, integrating a diverse range of products and services.

The main product offerings include:

• Application Modernization
• IT Operations Management
• Security, Risk & Governance
• Analytics
• Software Development

As of 2024, Micro Focus reported total sales of approximately $3.1 billion, reflecting diversification across various industries including financial services, government, and telecommunications. The company serves customers in over 80 countries.

Company's Financial Performance in the Latest Financial Reports

In the latest financial reporting period ending October 31, 2023, Micro Focus achieved record-breaking revenue of $3.1 billion, a 12% increase from the previous year. The main product sales accounted for significant portions of this revenue:

Furthermore, the company reported a net income of $400 million and an operating margin of 23%, indicating strong operational efficiency. Market expansion efforts have been realized, particularly in the Asia-Pacific region, contributing to a revenue growth of 15% in these markets.

Introduction to Micro Focus as a Leader in the Industry

Micro Focus is regarded as a leading company in the enterprise software industry, recognized for its extensive portfolio that addresses the challenges of digital transformation. The company holds a prominent position with a market capitalization of approximately $5.5 billion as of mid-2024.

Its commitment to innovation and customer-centric solutions underpins its status, with investments in research and development totaling $250 million in the latest fiscal year. Micro Focus continues to adapt and leverage new technologies such as AI and machine learning, positioning itself for sustained growth.

For further insights into the factors contributing to Micro Focus's success, please explore more information provided below.

Mission Statement of Micro Focus International plc (MFGP)

Mission Statement Overview

The mission statement of Micro Focus International plc (MFGP) is a critical element that articulates the company’s purpose and direction. It serves as a foundational guide for the organization’s long-term goals and objectives, emphasizing the commitment to providing innovative software solutions that enable enterprises to unlock the value of their IT investments.

Core Component 1: Customer Commitment

One of the key components of Micro Focus's mission statement is its unwavering commitment to customer success. The company prioritizes understanding and addressing the challenges faced by its clients through tailored solutions.

In 2023, Micro Focus reported a customer satisfaction score of 92%, reflecting its dedication to delivering quality service. The company has achieved a client retention rate of 89%, demonstrating its ability to maintain strong, lasting relationships with its clientele.

Core Component 2: Innovation in Technology

Micro Focus is dedicated to fostering innovation, which is reflected in its focus on developing cutting-edge technologies and solutions. This is evidenced by a significant investment in research and development (R&D), which stood at $230 million in the fiscal year 2023, accounting for approximately 16% of total revenue.

The company has launched over 50 new products and updates in the past year, underscoring its commitment to advancing technology that drives business efficiency and agility.

Core Component 3: Sustainable Growth

Sustainable growth is a fundamental principle in Micro Focus’s mission. The company focuses on enhancing operational efficiency while expanding its market presence. For the fiscal year 2023, Micro Focus reported a revenue growth of 4.5%, reaching approximately $1.45 billion.

Additionally, Micro Focus has committed to reducing its carbon footprint, with a target of cutting greenhouse gas emissions by 30% by 2025, aligning its growth strategies with environmental sustainability.

Vision Statement of Micro Focus International plc (MFGP)

Vision for Innovation and Agility

Micro Focus International plc envisions a future where innovation is at the forefront of its operations. The company aims to leverage cutting-edge technologies to enhance product offerings and deliver superior value to its clients.

Commitment to Customer Success

The vision statement underscores a strong commitment to customer success, focusing on building enduring relationships and providing solutions that meet evolving market demands.

Sustainability and Corporate Responsibility

Micro Focus aims to incorporate sustainability into its core operations, focusing on reducing the environmental impact of its products and processes.

Employee Empowerment and Development

The vision emphasizes the importance of employee growth and empowerment, ensuring that the workforce is both skilled and motivated to drive the company's success.

Global Market Expansion

Micro Focus International plc aims to strengthen its presence in emerging markets, focusing on strategic partnerships and localized solutions.

Core Values of Micro Focus International plc (MFGP)

Integrity

The core value of Integrity is fundamental to Micro Focus International plc (MFGP). It emphasizes the importance of honesty and ethical behavior in all business dealings.

Micro Focus demonstrates its commitment to integrity through various initiatives, including:

• Implementation of a comprehensive compliance program, with a 100% completion rate among employees in annual code of conduct training.
• Adopting strict anti-corruption policies, resulting in zero reported incidents of bribery or corruption in the past three fiscal years.

Innovation

Innovation is a key driving force behind Micro Focus's success, focusing on developing cutting-edge technology solutions to address modern business challenges.

Examples of innovation at Micro Focus include:

• Investment of $200 million in research and development (R&D) in 2023, representing 15% of total revenue.
• Launch of 30 new products in 2023, enhancing portfolio offerings across various sectors, including cybersecurity and cloud solutions.

Customer Centricity

Customer Centricity prioritizes the needs and satisfaction of customers above all. Micro Focus continually seeks feedback to enhance its services.

Significant efforts in this area include:

• A customer satisfaction score of 89% based on a 2023 survey, reflecting positive client experiences.
• Introduction of a Customer Success Program that has onboarded over 1,000 clients in the last fiscal year, promoting long-term relationships.

Collaboration

Collaboration fosters teamwork and partnership within the organization and with external stakeholders.

Micro Focus showcases collaboration through the following initiatives:

• Establishment of cross-functional teams for project management, leading to a 25% increase in project delivery efficiency.
• Engagement in over 50 partnerships with industry leaders for joint development projects in 2023.

Excellence

The value of Excellence drives Micro Focus to deliver high-quality products and services consistently.

The company's commitment to excellence is evident in:

• A Net Promoter Score (NPS) of 75, indicating strong customer loyalty and advocacy.
• A total of 15 industry awards received in 2023, recognizing achievements in software innovation and customer service.