SpecPage, which enhances digital solutions for the recipe-based manufacturing industry, is to partner with SVC Ltd., part of Credit Suisse, for risk capital for small and medium-sized enterprises (SMEs). SVC Ltd. currently promotes Switzerland as a center for business while also allowing unique Swiss businesses to leverage their “high qualitative standards in niche industries across the world.”
Headquartered in Switzerland and the US, SpecPage, claims to be the only product lifecycle management and product data management process solution vendor uniquely dedicated to the food and beverage industry.
SpecPage’s product lifecycle and product data management process solutions for formula-based food and beverage manufacturers. For almost two decades, the company has sought solutions to help formula-based food and beverage manufacturers produce better quality products for less, while also streamlining and delivering data-driven results that allow producers in the food manufacturing industry to grow and sustain profitability.
Key benefits of the SVC Ltd. Credit Suisse investment include empowering the expansion of SpecPage’s international business systems, according to the company.
A leading bank for entrepreneurs, Credit Suisse is committed to strengthening and promoting Swiss businesses, including the provision of venture capital to innovate SMEs with growth potential. SVC Ltd. for Risk Capital for SMEs, the investment vehicle, was created for this purpose in 2010. The SpecPage venture marks SVC Ltd.’s 50th investment.
The company offers solutions to capture and manage the flow of data throughout the R&D, production and manufacturing cycle, creating visibility, transparency, traceability, and cohesive communications to facilitate essential collation and collaboration for the accumulative data.
“With SVC Ltd. and Credit Suisse’s commitment to SpecPage, we will be able to accelerate our growth and strengthen our position as the leader in the global PLM and PDM software market,” says Severin Weiss, Founder and CEO of SpecPage.
“This investment will enable us to prioritize digital transformation further and deliver a speedy solution to clients who are trapped in predominantly spreadsheet-based processes.”
Weiss says: “The investment will help SpecPage continue to accelerate growth and advance innovative product offerings – like our SaaS, or software as a service solution. We offer both traditional on-premise subscription sales, as well as cloud-based product lifecycle management (PLM) process systems to better serve our customers. In addition, we plan to fast-track certain acquisition strategies.”
“SpecPage has customers on every continent, and we intend to continue expanding our global reach – we see this investment as an opportunity to help more food manufacturers produce better quality at a lower cost while ensuring food safety and complying with global regulatory requirements,” notes Weiss.
“Everything begins with product data – it is the foundation for success in the F&B industry,” he continues. “Traceability and accurate, clean labels are key drivers for consumers – therefore, they must be a huge priority for manufacturers. Our customers depend on us to deliver the tools they need to provide solutions that consumers demand – PLM has proven to be the most effective tool to achieve accurate, transparent, traceable data processes. Traceability is crucial because consumers want a transparent, farm-to-fork experience – with clean, accurate ingredient information on a label that is simple and easy to understand,” Weiss explains.
“We would encourage more companies to do the same – it is very simple, the manufacturers that are thriving and experiencing explosive growth have digitized and employed product data management process solutions – these are the F&B producers who are expanding their international footprint and capturing global market share. These are the guys who have, and can offer, consumers accuracy, traceability and transparency.”
“Unfortunately, manufacturers who rely on spreadsheet-based processes cannot offer traceability or integrated compliance management for specifications. Many reliable reports say that more than 60 percent of recalls are due to inaccurate or wrong labeling; these recalls are incredibly expensive from two perspectives – the cost of the physical recall, and the loss of consumer trust in your brand. When producers examine the return on investment, it is very obvious that SpecPage process solutions quickly provide an excellent return, because they avoid recalls and deliver brand loyalty based on consumer trust,” says Weiss.
“F&B manufacturers face a range of challenges, like food safety, traceability, transparency in the supply chain and regulatory compliance – but recent consumer demands for sustainable production practices must be a priority. Consumers have proven sustainability and eco-friendly production is important to them, and they are willing to pay more for these products,” he states.
“They view clean label food products as more natural – therefore, by association, more sustainable. However, sustainability is only possible with an end-to-end product lifecycle process solution that encompasses food safety, transparency, traceability and product labels as a single source of truth.”
“Once this process is in place, enhanced master data supports all efforts to innovate and provide safe, clean label products. It is important to note that many consumers believe sustainability comprises more than just a product – it involves the security of our global food supply, health, safety, affordability, product quality, an innovative, strong, vibrant, industry in terms of jobs and growth – as well as environmental challenges like climate change and biodiversity. SpecPage empowers manufacturers to manage master data information for ingredients and consumer products for the entire lifecycle – and supports all efforts to deliver sustainable food practices,” he comments.
Didier Denat, Chairman of the Board of Directors of SVC Ltd. and Head of Corporate & Investment Banking at Credit Suisse (Switzerland) Ltd., adds: “As a niche player who already boasts some of the biggest global manufacturers among its clients, SpecPage is uniquely positioned for further growth.”
“The company is a prime example of a Swiss SME pairing both world-class precision and innovation with true global expertise. We are very pleased to be partnering with the firm and support its journey of longstanding success,” he comments.
