Founded in 2017, Tenthpin is a global management consulting firm with headquarters in Basel, Switzerland and offices in Germany, Portugal, UK, USA, China, Hong Kong and Singapore. Following on from their success in the Corporate Excellence Awards 2020, we got in touch with Michael Schmidt to find out more.
With deep expertise in the Life Sciences, Agriculture and Chemicals industries, Tenthpin strive to be the most trusted advisor, who understands the unique challenges within each sector of their core industries across the entire value chain.
To begin, Michael offers more insight into the firm’s specialisms and its client base. “As the leading experts in our field, we typically specialise in Digital Transformation Programs, Global ERP (SAP) Transformation Programs, Analytics, Innovation Management, Mergers & Acquisitions, Project and Change Management, all tailored to the needs of the Life Sciences industry.
“With our clients coming from all relevant segments including Pharma/Biotech, Medical Technology, Animal Health, Clinical Research Organisations and Pharmaceutical Distributors, we cover the whole Life Sciences value chain, from the design/molecule to the patient.”
Working with many of the top 20 global Life Sciences companies, Tenthpin have been involved with a variety of business transformation projects in recent times. Moreover, as Michael goes on to explain, putting the client at the centre of everything whilst establishing strategic partnerships has been key to the delivery of successful project delivery.
“Once we start working with a client, we are typically collaborating for multiple years and we believe in forming long-term relationships. By providing independent, unbiased advice and services to our clients, with the latest technology drivers, we believe we are making a difference in transformational change. With our consultants possessing deep industry knowledge, we are recognised as a delivery focused organisation who can implement the solutions to make business strategies work.”
Currently, the consulting industry is an extremely competitive one to operate in, however as Michael goes on to explain it’s their client-focused approach, combined with deep industry and technology expertise, which has seen the firm distinguish themselves from their closest rivals. “Our founders are hands-on practitioners who work with our clients on a daily basis, so collectively we are fully aware of any potential obstacles. As a team of problem-solvers, we can develop powerful solutions and achieve great outcomes for our clients. Moreover, although we are a truly global firm, we are highly flexible in being able to adapt to changing industry requirements.”
One of the major reasons behind Tenthpin forming was down to the Life Sciences industry being at a crossroads. Moreover, as Michael goes on to explain, the firm were presented with the opportunity to help Pharma companies redesign their value chain. “Seismic shifts are disrupting the status quo of the industry, and the life sciences value chain of tomorrow, from the molecule/design to the patient, or vein-to-vein, will be leaner, faster and self-orchestrated. Value-based care models, risk-based-pricing, advanced therapy medicinal products (ATMP), personalised treatments, and the increased focus on patient experience, are changing the face of the industry forever.”
Going the extra mile to ensure the firm and its clients are successful is what Tenthpin prides themselves on, and as Michael goes on to explain, the company culture currently in place is something everybody adheres to. “Our core values are passion for excellence and commitment to delivery, with our people staying true to these core values day in and day out together with our clients. In addition, with only three levels of hierarchy, communicating amongst each other has been that much easier.”
Regarded as key assets of the business, Michael feels very strongly about getting the most out of the talent at his disposal as he explains further. “With our mentoring concept based on the objective of getting the best and most out of our talent, we actively support their professional consulting career needs, whatever those are.”
If we take a closer look at the industry today, with new technologies being developed it is vital people’s skillsets are updated as Michael confirms. “We take knowledge exchange very seriously and by holding training sessions with our global team, we ensure our people fully understand what we are doing with our individual clients in all different markets.”
Despite working in a global competitive market, Tenthpin are able to attract some of the finest talent around due to the journey they’ve been on as Michael points out. “Even though the market is very competitive, our story is compelling and exciting, and this is why many candidates decide to join us opposed to joining a larger consulting firm.”
Finally, Michael comments on the future of the firm and the plans in place for 2020 and beyond. “Going forward, we will continue to extend our track record of successful transformation projects in various segments of the Life Sciences industry. At the same time, we will intensify our collaboration with the industry, especially for real co-innovations.”
“Currently, we are already co-innovating in the area of clinical e-labeling, and with the introduction of virtual, decentralised clinical trials, we are looking forward to further extending our list of co-innovations, specifically in the clinical supply space, during the next couple of months. Beyond that, we will continue to focus on growth, while at the same time remaining flexible enough to adapt ourselves to the ever-changing requirements of the Life Sciences industry. Last but not least, we are investing a lot of effort and energy into our team events, for which we bring our teams physically together for several days full of fun, entertainment and education.”