Michael Dorner, immediate past president of the ICMA Board of Directors and CEO of VARIUS GROUP, delivered a message at the ICMA EXPO that resonated deeply with an industry facing constant change: reinvention is not optional—it’s essential. With more than 50% of Fortune 500 companies disappearing since 2000 and 70% of corporate change initiatives failing, the stakes for staying relevant have never been higher.
Drawing from both iconic case studies and his company’s own dramatic transformation, Dorner made a compelling case for why proactive, sometimes uncomfortable change is the key to survival and success.
Forces Driving the Need to Reinvent
Dorner outlined the five forces reshaping the global card industry:
- Technological Disruption: AI, blockchain, mobile-first interfaces and digital wallets are changing the game.
- Shifting Consumer Behavior: Today’s users expect contactless, convenient, personalized experiences.
- Regulatory Pressures: GDPR, sustainability laws and green initiatives are non-negotiable.
- Environmental Expectations: Customers now demand recyclable, ethical products.
- Global Competition: There’s always someone cheaper—the key is to be smarter, not cheaper.
Lessons from the Field: Stories of Reinvention
To make his case, Dorner spotlighted brands that embraced reinvention and thrived:
- Netflix: From DVD mailers to a global streaming and content giant, Netflix’s rise is a textbook example of proactive transformation.
- IBM: Over a century old, IBM has morphed from typewriters to AI-powered cloud services—proof that even legacy companies can pivot and lead.
As Charles Darwin famously said, “It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.”
Reinvention at VARIUS GROUP
Dorner doesn’t just advocate for reinvention—he leads by example. Under his direction, VARIUS GROUP evolved from a traditional card manufacturer into a forward-thinking, technology-driven solutions provider. This bold transformation has positioned the company at the forefront of innovation in the secure printing and card production space.
One of its standout breakthroughs was the creation of the world’s first blockchain-based postage stamp—the Cryptostamp. This product bridged the physical and digital worlds, with more than 1.7 million units issued across more than 30 countries. It marked a pioneering step in merging secure printing with emerging tech, unlocking new possibilities for collectible products and digital ownership.
Another pivotal shift came during the 2021 lockdowns, when VARIUS GROUP confronted the challenge of communicating complex print designs without in-person press checks. Static PDFs failed to capture specialty embellishments, and clients struggled to interpret terms like “hot stamp” or “silk screen.” While already exploring 3D applications for NFTs, the team saw an opportunity to address a broader industry pain point. The result was Vzual—a browser-based, 3D proofing tool tailored specifically to the card industry.
Vzual transformed the design and approval process by providing real-time, photorealistic renderings of cards using physically based rendering (PBR). Its ease of use, collaborative features and deep customization options have accelerated production cycles, reduced miscommunication and elevated the client experience. With enterprise features, robust security protocols and a roadmap that includes expansion into passports, packaging and e-commerce, Vzual is not just a tool—it’s a strategic platform.
Together, these reinventions at VARIUS GROUP show how vision, creativity and technical excellence can turn disruption into competitive advantage.
A Reinvention Roadmap
Dorner shared a practical and compelling reinvention roadmap tailored for card organizations navigating an increasingly digital, competitive and customer-driven world.
At the core of his message was urgency: digital transformation can no longer be postponed. He encouraged companies to actively invest in research and development—not just in traditional printing capabilities but in digital tools, platforms and experiences that are reshaping the industry.
Equally critical, he said, is creating a culture where innovation thrives at every level of the organization. Great ideas don’t always come from the top—they often emerge from the front lines. Dorner stressed the importance of listening to customers, especially when they express uncertainty or frustration; those moments often highlight opportunities for improvement and differentiation.
Finally, he underscored the value of strategic partnerships. In a digital-first world, aligning with tech-forward allies who share your vision can be a game-changer.
But just as important as what to do is what to avoid. He warned against resisting change, calling it a direct path to irrelevance. He reminded attendees not to underestimate the power of the underdog—companies like Netflix proved how quickly a disruptor can redefine an entire industry. He cautioned against clinging to legacy products that no longer serve today’s market needs and highlighted data as an often-overlooked asset with massive potential. Most importantly, he advised companies to act now. In a fast-moving landscape, waiting for perfection is a luxury few can afford—agility, not hesitation, will determine who thrives.
Monday Morning Action Plan
For businesses looking to act immediately, Dorner shared these practical steps:
- Audit Your Product Portfolio – Identify what’s outdated or underperforming.
- Evaluate Risks – Look for dependencies that could be digitized.
- Talk to Customers – Ask your top five clients where they see the future.
- Assign an Innovation Leader – Someone fully dedicated to driving change.
- Set a Bold Goal for 2026 – Aim for something ambitious that challenges your comfort zone.
“The greatest danger in times of turbulence is not the turbulence — it is to act with yesterday’s logic.” — Peter Drucker
Reinvention Isn’t the End—It’s the Beginning of What’s Next
Change isn’t just inevitable—it’s the clearest path to sustained growth. As Dorner concluded, the card industry stands at a defining moment. Organizations that embrace change will position themselves to lead; those that resist risk becoming cautionary tales.
For card companies, the opportunity is clear: continue writing your story through innovation, reinvention and bold ideas that not only respond to the present—but help shape what comes next.
Why ICMA Membership Matters
As ICMA celebrates 35 years in 2025, the association remains committed to supporting the card manufacturing industry by providing members with the tools they need to thrive.
Beyond marketing solutions, ICMA also offers valuable educational opportunities, including Advanced Card Education (ACE) training, and the Card Manufacturing & Personalization EXPO, the association’s largest event.
By participating in ICMA’s many programs, members gain the ability to shape the future of the industry while enhancing their brand presence across multiple channels.
Whether it’s contributing articles to Card Manufacturing, For card industry professionals looking to stay ahead in 2025, leveraging the marketing resources and industry recognition offered by ICMA is a proven strategy for success.
Learn more about the benefits of ICMA membership.