Cunesoft offers cloud-based software as a service (SaaS) solutions for regulated processes in the life sciences industry. We found out what that means from Rainer Schwarz, one of the minds behind the Munich startup founded in 2013.
Regulatory compliance at the touch of a button
Rainer, you provide a regulatory operations platform and content analysis software. What does that mean exactly, and who uses your product?
The pharmaceutical industry is just like any other regulated industry — such as the chemical industry, aerospace or banking — that is still defined by manual, paper-intensive processes.
We have made it our objective to speed up and automate the regulatory processes in the pharmaceutical industry. Our intelligent, self-learning software can save companies up to 80% of the processing time for regulated processes.
For example, the software is able to create a submission on its own using the available data. All a person needs to do is approve the proposed submission.
Improving the quality of life with intelligent software
It could be compared to the introduction of the production line at the beginning of the industrial age. Similarly, it also benefits the general public. It does so by giving people access to a wider range of medical preparations. And that can significantly improve their quality of life.
How does your competition look? Are there any other regulatory platforms on the market?
We want to redefine processes, because making a faulty process faster does not help anyone. Our approach has proved extremely popular in the industry, even though it always takes time for new ideas to be internalized by the market. Our competitive advantage is that we are more cost-effective than our competitors. Those who use our solutions save up to 70% in costs. And we also save them time. We can reduce the work required for regulatory data management by 80%.
At the same time, we are also working hard to maintain our lead in development in order to hold onto our competitive advantage. Combining regulatory know-how with the artificial intelligence of algorithms that are adapted to the industry makes us unique. There is no comparable product on the market right now.
How did you come up with the idea for this kind of niche product?
After completing my studies in international business administration, I decided to focus professionally on IT, or more specifically, on software solutions for the pharmaceutical industry. In a joint project, I got to know my fellow founder, Daniel Koppers, who has a degree in business informatics. We got along really well and then developed the idea of founding Cunesoft together.
“We count on our excellent team”
What was your biggest challenge to date?
Being a startup in an existing market where few companies are active continues to be our biggest challenge. Cunesoft is still a small company, and we count on our excellent team to make full use of our potential.
Looking for bright minds to help us develop is also a challenge that is of particular importance to us. We have been lucky enough to find the right people at the right time so far.
Last year, you completed a successful round of Series A funding and expanded to the US. How is business otherwise?
Business is going very well. 2016 was an extremely successful business year for us. We saw a 300 percent increase in customers, and our team has also grown. We now work with 20 employees.
Fresh capital made it possible for us to boost our growth again last year and to expand our international business. We have our head office in Munich and three international offices as well – in France, the US and India.
Nonetheless, we have also learned that everything costs twice as much and takes three times longer than anticipated.
What do you have planned next – where are you headed?
We obviously have big plans for 2017. We are going to continue to improve our offerings and increase our technological edge. That includes an improved user interface, smarter algorithms and additional interfaces. Of course, we also plan to continue working closely with our customers. That means we will continue to expand our team, and we are considering more new offices.
You are headquartered in Munich – what does the Bavarian capital mean to you?
Munich is not only one of Germany’s most beautiful cities; it is also a good alternative to Berlin from a startup perspective. The large number of biotech companies in Munich are also an interesting target group for us.
Last but not least: what does the name of your company mean?
The name comes from the word “cuneiform,” which is the first known system of documentation. We chose the company name “Cunesoft” because it combines the first method of documentation, “cune,” with “soft” for software, the most modern method for recording information.
Many thanks to Rainer Schwarz for the interview!