Back in June, I spent a few days at TAKE Solution's annual conference, Converge. It was a customer-focused conference with an educational twist and not as focused on TAKE's products as you might think. I walked away with a newfound appreciation and understanding of several industry trends and challenges, particularly in the life sciences space. Despite being a $150MM company with a 12-year track record, and part of the portfolio of a $15 billion dollar investment group, TAKE is a company that you might not have heard of unless you are in Life Sciences (particularly in pharmaceuticals).
Life science solutions of theirs include:
- Clinical test data management from how to conduct the tests, to clinical test analysis, collect the data, raise compliance, and manage data standardization – all to speed up new drug time-to-market
- Electronic record-keeping; regulatory compliance
- Safety – pharmacovigilance – a tongue-twister which broadly speaking means pharma risk management
- Commercialization support, analytics, and more...
Buying direct: TAKE isn't all about life sciences, however. More along the focus of Spend Matters' readership, TAKE also has a broad suite of supply chain products geared toward the direct side of the procurement aisle:
- Warehouse automation, with mobility apps
- Collaboration tools, demand forecasting, multi-tier subcontract work, 3PL, VMI, QA, e-invoicing, ASN, returns and more
- Professional services, many focused on Oracle solutions in this field
Quick impressions – I will look deeper at their OneSCM and GEMINI products later, the following are my immediate impressions. The company has a strong Oracle focus at the moment but is inherently platform agnostic with support for both Oracle and SAP. Having acquired software companies in 2007 and 2009, they have set everything on a combined roadmap, with set feature release dates, revision schemas, etc. A big change at the moment is the consolidation of collaboration/execution under the OneSCM brand and data collection/enterprise mobility under the Gemini Services brand.
Work together – I particularly liked the strong collaborative aspects to their solutions. For example, suppliers and procurement (business unit level most likely) engaging around ASN (advance shipment notifications) prior to shipping, to make sure that what is filled and what is ordered/needed lines up. This thinking is clearly running through the product and I can see how this will really help pull suppliers and production closer together to create leaner and more effective manufacturing. More broadly speaking, multi-tier, collaborative solutions are seeing huge investments across the industry – read up on our coverage of SAP's SuccessFactors, for example. TAKE is right on track here.
Growth – The company saw nearly 45% growth last year, which is impressive for a firm of this size. The USA is an important market, with 60% of revenues generated here. The firm has around 1,250 employees, many in India. Ram Yeleswarapu, the CEO of TAKE, describes the company's vision as centered around being a specialty provider in life sciences and in supply chain – a vision they appear to have realized already.
Future growth in areas such as ePedigree and serialization – One tangible ROI with this technology is that it enables highly targeted recalls, and the substantial benefits with that are clear. According to TAKE, they generally speaking place serialization ahead of ePedigree; this is more of the focus; and solutions integrate with event repositories and ERP to create more robust serialization and chain of custody systems.
Stay tuned for further coverage of TAKE Solutions later this week.