How Tenthpin Solutions Makes the Difference with Innovative Software Solutions.
Interview with Michael Schmidt, Co-Founder of Tenthpin about Tenthpin Solutions
We interviewed Michael Schmidt, Co-Founder of Tenthpin, to learn more about the origins of Tenthpin Solutions, our newly created subsidiary with a focus on business applications for the Life Sciences industry. Dive into this interview to discover the strategic details, cultural essence, and the vision behind Tenthpin's tech start-up.
Question: What was the motivation behind the founding of Tenthpin Solutions?
Michael: When we founded Tenthpin in 2017, two things were clear: Our sole focus on the Life Sciences industry and our intention to provide consulting services and products. The challenges our clients were facing due to digital transformation increasingly demanded a combination of these two aspects. However, before entering the product business, we wanted to, and successfully did, establish Tenthpin’s consulting business.
Question: Technology is becoming increasingly important in the consulting industry. Many consulting firms have acquired software companies, established their own tech divisions, or even founded tech companies. How does Tenthpin approach this?
Michael: Due to our emphasis on SAP transformations, we've always had a strong technological competency. We recognized gaps in crucial areas and filled these gaps for clients with, sometimes, highly complex custom programming. We thought: "Why fill these gaps with individual programming when we can establish a new standard solution for the industry?" As a result, we collaborated with industry consortia and SAP to develop co-innovations for Clinical Trial Management, Cell & Gene Therapy Orchestration, and Batch Release Management, and we saw that it worked. This was the trigger for us to take the next step and establish Tenthpin Solutions. It's an evolutionary step that we had planned from the outset.
Question: Which clients do you target, and what advantages do you offer them?
Michael: Our target is Life Sciences companies, including those in the Pharma, Biotech, Healthcare, Animal Health, and Health Technology sectors. With the shift towards a data-driven, patient-centric value chain in Life Sciences, many companies need innovative software solutions to solve their business challenges and build new capabilities. Those who aren't just seeking any solution, but want to implement a new standard solution for the industry, are a perfect fit for us.
Question: How does Tenthpin Solutions stand out and make a difference?
Michael: We believe in the power of ecosystems – the collaboration between different companies and technology providers to establish a new standard in the industry. This requires deep industry and technology competence from Tenthpin Solutions, but most importantly, it demands exceptional collaboration.
Our solution shouldn't just work for one company; it should work for numerous other players in the Life Sciences industry. And it should be so good that it becomes a new benchmark. This is how we generate the most value for the industry and society. That's how we make a difference. We do have product ideas, but what truly sets us apart is the flexibility and openness to embark on this journey with our customers. Given the rapid changes, flexibility and openness are crucial success factors for quickly adopting new technologies, such as generative AI.
Question: How would you describe the culture at Tenthpin Solutions? Is it different from other companies?
Michael: We place a significant emphasis on collaboration – both internally among ourselves and externally with our clients and partners. This requires openness, flexibility, and a willingness to learn. While we have a strong industry understanding, we always strive to understand even more. Lastly, throughout the company, we maintain an entrepreneurial spirit to drive change for our customers. Despite being experienced professionals, we maintain a genuine start-up culture.
Question: What personally matters to you in working with employees and clients?
Michael: People matter to me. It's not just about the business. During our internal introductions, we encourage individuals to share aspects beyond the business realm so that the human side is truly revealed. Collaboration becomes not only more enjoyable but also more productive.
Question: If you had one professional wish, what would it be?
Michael: Professionally: That Tenthpin becomes the first choice when decision-makers in the Life Sciences industry face challenges and want to build new capabilities as part of their digital transformation.
Question: Where do you envision Tenthpin Solutions in the next few years?
Michael: We envision setting more standards in the Life Sciences sector, like Clinical Trial Management, Batch Release Hub, Cell & Gene Therapy, and possibly Quality Management. One crucial solution from Tenthpin Solutions will be our Biotech-Suite Upvance. Upvance is an end-to-end capability platform for Biotech companies, supporting their entire processes from research projects to procurement, finance and controlling. It accompanies Biotechs throughout their entire lifecycle, significantly increasing the likelihood of success through higher speed and cost efficiency.
If Tenthpin Solutions can achieve such an impact on the Life Sciences industry and society, and if we continue to have as much fun collaborating both internally and externally, we will have achieved our goals.
Thank you for the interview