Friday, 12 June 2009

Microsoft killing a good product!

I had been wondering for a few months what was going on with Microsoft Money. As a heavy user for more than 10 years (probably 15), I have a strong commitment - ie archive files -  in the product. The news has just broken that Microsoft is stopping Microsoft Money (see details and analysis  at http://news.cnet.com/8301-13860_3-10261742-56.html. I cannot say I am very happy with that! Beyond my personal use, there is an interesting product strategy point.

The CNET article explains the challenges Money has been facing in the US where Intuit and Mint have taken strong leadership in the category. However, that does not apply everywhere. For instance, the French market will be left with no real offering in that category. Intuit/Quicken deserted the French market a few years ago and Money had a leadership - by default. I suspect this is the case of many European markets.

A few take away :

  • big players want and need worldwide markets - and at least leadership in the US
  • good markets can still be left unserved --> that means opportunities for local and niche players

Friday, 06 March 2009

Pertinence / intercim : vision becoming reality

This blog has been very quiet for a long time. It was very appropriate to be back on line for a follow up on one of our recent (?!) post. Frederic Halley, one of Tioga Venture partner, was instrumental in the merger of Pertinence and Intercim in 2007. The new entity has now welcomed a new major shareholder with Dassault Systemes. The vision developed back a few years ago at Pertinence is validated by this move: the convergence of the design and shop-floor system is now a reality.

You can read all the details here :
http://www.intercim.com/partners/indexDS.asp

Wednesday, 03 October 2007

Pertinence séduit Boeing et un acquéreur américain

Boeing_logo

Le jeune éditeur de logiciels français a été racheté par son concurrent américain Intercim.
« L'Europe et même la France arrivent désormais à faire émerger des quantités de petites entreprises innovantes. Elles ont ensuite beaucoup plus de mal à les faire se développer. » Amélie Faure sait de quoi elle parle. Présidente du jeune éditeur de logiciels Pertinence, son entreprise a été rachetée juste avant l'été par un concurrent américain, Intercim. Certes, ce rachat qui s'est effectué par échange de titres a du sens, puisque les deux éditeurs sont exactement sur le même créneau. Intercim, société privée américaine implantée à Minneapolis, est spécialisée dans la gestion du processus industriel. Pertinence a une approche plus pointue, mais parfaitement complémentaire.

Créée en 2000 par de jeunes polytechniciens, elle a mis au point des logiciels permettant d'améliorer ces processus industriels grâce à une analyse poussée des données issues de la production. L'approche, basée sur une utilisation poussée des mathématiques et des techniques proches de celles de l'intelligence artificielle, est très pragmatique. « Il ne s'agit pas de modéliser le processus industriel. De ces quantités de données, nos logiciels déduisent simplement des règles et de bonnes pratiques. On ne sait pas expliquer pourquoi tel ou tel processus physico-chimique marche, mais cela marche. C'est une démarche empirique », précise Amélie Faure. Bien implanté en Europe, notamment chez Airbus, Pertinence se trouve ainsi renforcé par lntercim qui a déjà mis un pied chez Boeing.

L'avionneur de Seattle a été très intéressé par l'outil pour améliorer la production de ses pièces en composite qui vont devenir majoritaires dans son futur Dreamliner - l'objectif étant d'améliorer la qualité des pièces finales et de faire baisser le taux de rebut. « La fabrication de pièces de composite est extrêmement complexe et s'apparente à de la cuisine avec de multiples paramètres : chaleur dans l'autoclave, vitesse de refroidissement, date de péremption des matériaux... Chez Boeing, nous avons multiplié par deux les objectifs qui nous étaient fixés. Ils ont décidé de déployer notre outil sur sept sites », se réjouit Amélie Faure, aujourd'hui directeur général du nouvel ensemble pour l'Europe.

Intercim_logo

Pas d'acheteur en Europe
L'histoire est toutefois révélatrice des problèmes que rencontre l'Europe pour garder ses pépites. Certes, l'actionnaire historique de Pertinence, Partech, reste au capital. « Nous voulions rester car nous pensons que l'histoire va être belle », explique Philippe Collombel, « general partner » chez Partech International. Mais il ne s'est trouvé aucun investisseur en Europe pour acquérir Pertinence. « Pour les grands européens du logiciel, qui ne sont pas si nombreux, Pertinence est une société trop petite. Ils ne savent pas s'y prendre », explique Philippe Collombel.

Les industriels ne sont guère plus entreprenants, explique Amélie Faure, qui a eu souvent du mal à convaincre de l'intérêt de la technologie : « Chez les industriels de l'aéronautique, on rencontre un très fort syndrome «not invented here» qui tend à repousser tout ce qui n'a pas été inventé dans les murs. Plus la culture d'ingénieur est forte, plus le syndrome est développé. Il y a en même temps un frein à l'innovation. Notre approche est en effet dérangeante pour des esprits cartésiens et suscite la suspicion. » Désormais américain, Pertinence aura peut-être plus de facilité à convaincre les industriels français...

Frank Niedercorn
2 oct 07

Thursday, 21 June 2007

Tioga Venture, Strategic Advisor to Pertinence-Intercim Merger

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Tioga Venture co-founding partner Frédéric Halley played a key role in Pertinence-Intercim merger, providing strategic consulting services throughout the duration of the negotiations.

Tv_pertinence_logo_200

The combined company, Intercim LLC, will offer the industry’s most complete enterprise execution solution comprising Intercim’s manufacturing execution software (MES) and Pertinence’s state-of-the-industry manufacturing intelligence capabilities.

“This business merger truly emanates from Intercim’s and Pertinence’s greatest strengths: our mutual focus on customer success,” said Intercim President and CEO, John Todd. “The uniqueness of Pertinence’s causal and proactive analysis solution added to Intercim’s current suite of process planning, MES, emergent process and quality management capabilities fills a vital need for manufacturers of advanced products.”

The combined company will serve European customers from a new division, Intercim Europe, led by former Pertinence CEO, Amelie Faure. “The increases in IT budget allocations for manufacturing systems make this the ideal moment for a global leader to emerge,” said Faure.

“This leader will have to execute deployments for customers in different industries and on different continents, while maintaining unmatched levels of ease of use, quality and return on investment. Intercim is that leader.”

Click here to read the entire press release.

Thursday, 07 June 2007

Tioga Venture, Strategic Advisor to AXA Private Equity in Welcome Buyout

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Tioga Venture co-founding partner Frédéric Halley played a key role in AXA-Welcome buyout, providing strategic consulting services to AXA Private Equity throughout the duration of the buyout.


Welcome_logo

"In a management buyout, AXA Private Equity has acquired the majority of the shares of Welcome Real-time, a global provider of payment software for financial institutions and payment networks. The remaining shares were purchased by the current management team.

Sébastien Guillaud, Welcome’s CEO, said, “Our performance has been very good over the past few years, and our biggest and fastest growth is still to come. Having a fresh, new major investor on board is critical during this transition phase. AXA Private Equity is very excited about our potential and will give us all the support we will need to achieve our goal of becoming irresistible to banks everywhere and a standard in the payment industry.”

Welcome has bank customers in 21 countries around the world. Revenues have been growing at 50% per year. The company’s 140 employees are based in Aix-en-Provence, Singapore, Sao Paulo, Paris, London, Milan, Madrid, Miami and Shanghai...."

Click here to read the entire press release.

~ Laura Pauli

Monday, 12 February 2007

Tioga in the News ~ JDNet on the Etats Généraux de l’ASP 2007

After his participation in the Etats Généraux de l’ASP 2007, Tioga Consultant Thierry Aubert wrote an article for JDNet on his insights from the event.

ASP/SaaS : Une Maturité Croissante, Des Défis Qui Persistent

Le modèle économique de l’ASP/SaaS semble atteindre le niveau de maturité nécessaire pour se développer à grande échelle. Mais un certain nombre de défis restent à surmonter pour les acteurs de ce domaine.

Les États Généraux de l'ASP 2007, un événement majeur organisé par l'ASP Forum, furent une nouvelle occasion pour constater la maturité croissance du modèle économique ASP/SaaS. Au-delà des débats sémantiques sur le nom à privilégier pour ce modèle, force est de constater qu'un certain nombre de défis restent à surmonter pour les acteurs (éditeurs de logiciels, fournisseurs de services, hébergeurs...) souhaitant le mettre en oeuvre...

Cliquez ici pour lire l'histoire entier en français.


NOTE: This letter was also published on La letter de l’ASP. Click here to download.

~ Thierry Aubert

Thursday, 08 February 2007

Tioga in the News ~ 5th Anniversary Celebration

Yahoo

Tioga Venture's 5th Anniversary celebration held on February 1st garnered much press attention. The fact that Tioga Venture not only survived but thrived during the worst economic downturn in the history of information technology made for a festive and newsworthy event.

PR Newswire
Yahoo! Finance
Sys-Con France

~ Laura Pauli

Monday, 05 February 2007

Bon Anniversaire Tioga!

On Thursday, February 1st, Tioga Venture celebrated their 5th anniversary along with 70 colleagues, friends, and co-workers at the tres chic art gallery, enviedart. Frédéric Halley and Julien Mazerolle welcomed everyone with a glass of champagne and commented on how they launched their company during the worst economic climate and have not only survived but thrived, thanks in part to many of the people in the room.

It was a festive evening surrounded by art from upcoming French artists and delicious food from Lemoni Cafe. Some of the companies represented include Microsoft, Pertinence, Cartesis, Datamat, SAP, IBM, Dassault, CDC Entreprises, Alcatel, 3i, Banexi Venture Partners, Butler Capital Partners, and Altaide. Click below to see pictures of the evening. Bon Anniversaire Tioga!

~ Laura Pauli

Continue reading "Bon Anniversaire Tioga!" »

Wednesday, 31 January 2007

Tioga Venture Celebrates 5th Anniversary

Tioga_anniv_invite_blog

On February 1st, Tioga Venture will celebrate their 5th anniversary at the chic, eclectic art gallery Enviedart in Paris surrounded by friends, colleages, peers, partners and co-workers who helped Tioga grow and prosper during the worst economic downturn in the history of the technology industry. In hindsight, 2002 was a volatile year to launch a company within the hi-tech ecosystem as the post dot-com bubble crash was still the predominant feeling at the time. Since then, the industry has shifted dramatically: internet companies are now generating revenue, software companies are consolidating, investments and valuation are once again skyrocketing...

Click here to read the entire press release in English...

Cliquez ici pour lire le communiqué de presse entier en français...

~ Frédéric Halley & Julien Mazerolle

Friday, 26 January 2007

ASP/SaaS: Industry Matures But Challenges Persist

Etats_generaux_logo

As a co-speaker at the “État de l’Art” roundtable of the “États Généraux de l’ASP 2007”, a major event organized in Paris by the ASP Forum, I was happy to observe the increasing maturity of the ASP/SaaS business model, although it must be said that major challenges still exist.

From a quantitative perspective, Markess International confirmed the growth of the ASP/SaaS market, about to reach 1B€ in France (nearly 9% of the overall software and service market) and expected to grow at a 24% CAGR over the 2006-2008 period (vs. 14% for the overall software and service market).

From a qualitative perspective, it must be noted that most application software vendors offer an ASP/SaaS delivery channel for their products – and those who are not yet there have the opportunity to leverage the technology and business frameworks promoted by the likes of Salesforce.com, Microsoft or IBM to reduce their time-to-market and investment needs. On the demand side, Mr Didier Lambert, President of the CIGREF and Director of Information Systems at Essilor, reassured that large enterprises were open to work with ASP/SaaS providers, confirming that the ASP/SaaS model should not solely targeted the SMB market.

But let’s have a look at the persisting challenges. About the SMB market first—while the ASP/SaaS model has proven to be an efficient way to deliver application software, it must be recognized that the model does not inherently solve the go-to-market challenge: how to promote and sell cost-effectively to thousands or millions of small and medium sized businesses? Local distributors and VARs are not likely to disappear by tomorrow morning.

Implementing an ASP/SaaS business model also requires specific challenges to be addressed: financing the higher investment/cash needs (caused by the delayed revenue collection and upfront platform/service implementation costs), substituting or inter-working with an existing traditional business model (upfront license, yearly support & maintenance), etc. Although not trivial, these challenges are worth being addressed seriously, considering the value of revenue recurrence and the level of operational profits that can be generated once the critical mass has been reached.

~ Thierry Aubert