Bentley Systems Inc-B 2024年度报告

A Letter from Greg Bentley, Executive Chairman Organizational: A year ago, I wrote my last (2023) Annual Report letter to stockholders as CEO, making this 2024 Annual Report my first as Executive Chairman.A year from now, Nicholas Cumins, having been CEO for the full preceding year, will author the (2025) letter. In last year’s letter, I described the coinciding developments of new technology opportunities in our markets, and of our managementsuccession at BSY. While 2024 was a year of very satisfactory progress on both fronts, I want to highlight my enthusiasm for subsequentchanges in executive responsibilities to accelerate our generational revitalization. Early in 2025, James Lee joined BSY as chief operating officer from Google Cloud, where (at age 45) he had charge of AI initiatives andinvestments. During James’ career at SAP prior to 2020, he held COO positions at Ariba, in Japan, and for China. He is applying his energyandrelevant experience to“set the metronome faster”for BSY’s cross-functional integration,portfolio development,and challengingbut substantial Asian opportunities. This enables Nicholas (who joined BSY as chief product officer in 2020) to focus more on innovation, and strategic coordination betweenour go-to-market and product development functions. To facilitate faster cycle time, the role of our Chief Technology Officer Julien Mouttehas been expanded to include software engineering. Eliminating the CPO position harks back to our founding cohort when technologistsKeith, Barry, and Ray Bentley led our platform development. Cesium, our principal acquisition in 2024, also echoes BSY’s roots. It signifies a corresponding generational shift in our programmaticacquisition priorities to earlier stage targets with important technologies to accelerate our initiatives in digital twins and asset analytics.In the case of Cesium, only a few years elapsed between open-source incubation and household-name adoption across the communitiesof developers of applications (like those modeling satellite trajectories, its formative use case, and, in due course, those of BSY), requiringreal-time interactive performance for streaming (progressively “tiling” at increasing resolution) 3D geospatial content and context in immersiveenvironments. While its technology was ramping to become the geospatial tiling standard for world governments and for Google’s 3D data,Cesium was accomplishing equally world-class enterprise milestones, notably as Komatsu’s platform for its ambitiousEarthbrainconstructionsimulation software venture in Japan. At age 43, Cesium founder and CEO Patrick Cozzi is now BSY’s chief platform officer, leveraging together Cesium and our iTwin Platformto mainstream infrastructure digital twins through unparalleled geospatial immersion, spanning from space through the subsurface, of the builtand natural environments. From the Bentleys’ standpoint, this platform renaissance, underlying a widespread developer ecosystem, can serveto reprise our origins. And borne out by our late 2024 engagement survey, with the proportion of colleagues gladly recommending Bentley Systems as a place to workat our highest level of87%,I believe that BSY’s management succession has successfully sustained our historical culture. The Year in Infrastructure 2024: BSY’s annual thought leadership conference, held in Vancouver in October, was headlined by announcements of Cesium and our new relationshipwith Google, and of AI advances in engineering applications (OpenSite+) and in asset analytics. To best understand how BSY advances infrastructure engineering, I encourage you to browse and/or download the2024 Infrastructure Yearbookat https://www.bentley.com/yii/yearbook/ for access to the250+projects nominated by our users for Going Digital Awards. Highlighted(along with the projects we chose for Founders’ Honors) are the finalist projects presented in Vancouver in each of the 12 categories judged byindependent global juries, and the resulting winners. As to the priorities placed upongoing digitaladvancements in these respective regions, I findit thought-provoking that20of the finalists were projects in Asia,8were in Europe (with the Middle East and Africa), and only6were in the Americas. Across all finalists, the bottom-line median of engineering productivity improvement attributed to going digital this year was15%.Behind this story,reliance onBentley Infrastructure Cloudcontinued to increase year-over-year, as50%of finalists credited iTwin Capture (reality modeling typicallyfrom drone surveying), and44%credited SYNCHRO 4D construction modeling. By way of baseline, among instead all 250+ nominated projects,28%credited iTwin capabilities, up from 22% in 2023. OpenSite+,the first of our Bentley Open applications to be enhanced with generative AI, is now in early adoption with general availability anticipatedfor later in 2025. Interestingly, I expect it to be possible to quantify not only the savings from OpenSite+ in