Take solution offerings are focused on two verticals – Life Sciences and Supply Chain Management (SCM)
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TAKE Solutions is a Chennai-based products play that builds domain intensive business technology products. Set up in 2000, TAKE is now a 700 + strong company with an annual revenue of close to Rs.300 crore. Its solution offerings are focused on two verticals – Life Sciences and Supply Chain Management (SCM).
Overview
TAKE has technology solutions spanning the following areas – Life Sciences, SCM , Business Process Management and Business Intelligence. According to the company’s Managing Director S. Sridharan, its key product lines comprise 5 products across its two primary domains.
Under the life sciences solution offerings, TAKE brings to the market “SafetyView” and “PharmaReady”, products that address clinical data lifecycle management.
In the SCM space, TAKE offers “OneSCM”, a solution suite for supply chain management, which includes three products iPoint, XPC and Gemini. These are built around three critical trends seen in the supply chain industry, namely the move towards low cost country sourcing, an increasing preference for demand driven SCM as opposed to “push-mode” and lastly, the desire to outsource all non-core operations such warehouse and supplier management
From the end-user’s perspective
Life Sciences
“SafetyView” is a dashboard that integrates various streams of clinical and safety data for effective aggregation and visualization of the results.
“PharmaReady” deals with FDA regulations and approvals. Imagine trying to file documents which could potentially fill up a 2000 sqft room for FDA Approval. What company wouldn’t want this process automated? PharmaReady provides a means of e-filing this huge amount of data. A first mover in the market, TAKE provides a collaborative document management solution where all stakeholders are brought together in a seamless manner.
SCM
In order to deal with ever-changing market conditions, companies need to have the right product out at the right time at the right place. The SCM products from TAKE help companies capture real-time demand and hence capitalize on market trends.
“iPoint” is a comprehensive trading & accounting process automation system which enables users pursue a demand driven strategy. It provides visibility of the inventory at all distribution points – which, in turn, help channel management, stock tracking, market forecasting and demand simulation.
“XPC” , which stands for “eXtended Process Control” , helps to create a seamless easy-to-manage collaboration network , between the company and its geographically dispersed suppliers.
“GEMINI” is a hand-held/mobile based shop floor solution to track WIP (work-in-progress) data, which gives greater visibility to mange warehouse and production operations.
Competitive Positioning
TAKE’s clients, across verticals such as pharma, biotech ,hi-tech, oil-and-gas and consumer goods companies are spread across India, Middle East, Far East and the US – with 50-60% of the company’s revenue coming from the US market alone.
According to Sridharan, TAKE enjoys a three pronged USP, that differentiates the company while offering a solid competitive advantage. For one, 20% of TAKE’s employees are non-IT staff deeply involved in R & D , thereby according the company great depth of expertise in the two key domains of Life Sciences and Supply Chain Management.
In addition to being an SEI-CMM Level 5 and an SEI-PCMM Level 3 certified company, TAKE is a registered CDISC (Clinical Data Interchange Standards Consortium) solution provider. It is also associated with the BioIT Alliance which unites pharmaceutical, clinical research, biotech & software companies to collaborate on business and technology ideas. This “adoption of industry best practices and thought leadership” helps TAKE stay ahead, says Sridharan.
Finally, TAKE uses a “customer-centric” approach to its solutions, whereby the solution is tailored according to the customer’s technology environment, and not vice versa.
Go – To – Market Strategy
TAKE’s Sridharan says that their vision is to be the go-to company for solutions built around the way people work, and not for mere recording of transactions. In the pharma industry, companies are currently facing the challenge of managing disparate systems for different functionalities. In fact, the Indian pharma industry is estimated to be worth $4.5 billion, growing at about 8 to 9% annually with the leading 250 pharmaceutical companies controlling 70% of the market. TAKE’s offering of an integrated solution opens up a leadership opportunity in this market, which it plans to target.
Sridharan also has a different “take” on the GTM strategy, pointing out that a GTM strategy, however good, is only as effective as the product itself. At TAKE therefore, there is greater emphasis on good quality flagship products, customer-centric focus, and on maintaining an excellent track record.
The Challenges
TAKE has faced different challenges at each growth stage.. While the initial challenge was “first customer acquisition”, followed by “the first successful implementation”, the current on-going challenge, the biggest one for TAKE, by far has been keeping pace with changing trends in the industry. And, how is TAKE handling this challenge? Sridharan says that TAKE is planning to set up a Centre of Excellence ( COE ); the company is also working consciously on evolving towards becoming a thought leader who stays ahead of the technology curve.
Success Quotient
Deloitte has recognized TAKE as “India’s 10th fastest growing technology company”, based on the company’s track record in adding new customers. Sridharan points out that TAKE’s “repeat customer track record” has been excellent with at least 80% of revenues in the key Life Sciences business segment coming from repeat customers.
My Word ! – a one2one TAKE with the MD : Mr. S Sridharan
What if you could go back in time – would you change product strategy or go-to-market?
Sridharan : While there have been some small areas where we could have done better – I have no particular regrets. At TAKE, 20 % of our employees are non-technical and they are involved in a lot of research for every product that is brought out. So, we make sure we have our product right & there is nothing about our product strategy that I would like to change.
Does India offer strategic advantages or even disadvantages when it comes to a product focused business?
Sridharan: The key advantages India offers are its technology capabilities and the low cost for building a product. However, product management is still a young skill, which will TAKE a couple of years to develop in India. What has worked for TAKE, is a combination of our India presence together with our overseas presence. This has helped us hone our product management and product architecture skills.
How difficult was it to raise capital? Was this a growth issue?
Sridharan: Initially, funds came from promoters – who knew they were in for a long term investment and were willing to wait it out. Then, as part of a well planned financial strategy, we went public in 2007, which has helped us raise capital. Funding availability has not been a growth issue for us at TAKE.
Interview by Ramya Srinivasan, Prayag Consulting for the NASSCOM EMERGE Newsletter.
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