News

CEO Update December, 2019

News

CEO Update December, 2019

CEO Update

December 30, 2019

Let me use this last CEO Update of 2019 to review the year and give you a glimpse of our plans for the coming months.

What an exciting year 2019 has been! Modum went international, has gained great traction in the market and established itself as one of the thought leaders in pharma supply chain digitalization. In parallel, we took a major leap in terms of technical capabilities and are now able to address the problem of end-to-end supply chain tracking. Our MODday and the new website, which went live just a few days ago, are not only proof points for this but at the same time represent the opening of yet a more mature chapter for Modum.

Organization
In January, we started off with our internal reorganization – the new structure aimed at supporting our go-to-market efforts and our commitment to deliver, and throughout the year it has proven to be the right move. Our team is not only perfectly set up to exceed our customers’ expectations in a fast and agile way but is also passionate and simply great to work with. A big thank you to everyone who has contributed to our journey up to this point!

Next-level Solution Capabilities
After the commercial availability of our first product, our product team kept expanding MODsense at an incredible pace. We achieved vital compliance milestones such as EN 12830:2018, WHO PQS, RTCA DO-160G or FDA’s CFR 21 part 11 and we enabled automatic interaction with our data loggers via gateways. Most importantly, we expanded our hardware portfolio with the capability to provide continuous real-time data to monitor the stages of supply chains that require this type of communication while we built the software modules to support end-to-end tracking of article-specific attributes, such as product stability budgets. This is a massive milestone and puts us in the unique position to address the end-to-end visibility challenges of our customers.

First-class Marketing
Our market team attended more than 30 conferences, mostly in Europe but also in the US and Asia. At more than half of them we shared our mindset and solutions in a speech, or our perspectives in a panel discussion. Participating in this many conferences allows us to first-handedly hear what the market needs are as well as to ensure that our company and our solution stay top of mind with the right heads.

In May, Gartner recognized our thought leadership by nominating us as a Gartner Cool Vendor in Blockchain Technology which put us on the map of numerous high-profile industry players as well as consortia which approached us to discuss opportunities in the second half of the year.

Over the last weeks we also overhauled our website to reflect the evolution we went through this year – check it out, your feedback is welcome!

Modum in the Market
What makes us particularly proud is the fact that in May, Swiss Post launched their innovative Thermomonitoring service which is powered by our temperature monitoring solution. Thus, our solution is seamlessly integrated in the daily work process of over 15’000 Swiss Post mail carriers and available to all Swiss Post clients. Since then we have been collaborating with more and more customers in order to onboard them and further improve our service.

Swiss Post is not the only partner who has integrated our solution – for example DGP Intelsius, EcoCool and Sarna Plastec have also integrated MODsense into their packaging to offer new, innovative services to their customers.

We also joined forces with Chemgineering to create a platform that simplifies and automates temperature and humidity mapping studies. The solution drastically reduces time and cost of mapping studies and assures high data quality and blockchain-guaranteed data integrity. We are excited to further grow these exciting applications next year.

In addition, it was an exciting achievement to close and engage with our first international customers over the course of this year while expanding our own operations to deliver our services to them. With every win, we become even more motivated to go beyond our limits in order to deliver an outstanding customer experience.

Outlook
What will the next year bring? First of all, we have a great pipeline of business opportunities lined up, which we are confident to deliver on. These engagements will also guide us in our further roadmap and growth, as in certain aspects, we – jointly with our customers – address problems that have not been solved yet. Hence, we are excited to hit the ground running in 2020.

Furthermore, we have communicated the plan regarding our MOD Token. We are happy about having found a way forward which allows us to focus on the execution of our plan to implement a future-proof and fair solution for all stakeholders.

With the start of the token swap process, we decided to focus our monthly reports on this topic and introduce the monthly tokenholder update, while we cease my CEO updates and transform our communication to cater more to the variety of needs of our growing number of interested stakeholders.

In summary, Modum is in a great position to enter 2020 and the whole Modum team wishes you the same.

Enjoy your holidays and a happy new year!

– Simon Dössegger, CEO

30 December 2019