Descartes Systems Group

Last updated
The Descartes Systems Group Inc.
Company type Public
Industry
FoundedMay 22, 1981;42 years ago (1981-05-22)
Headquarters Waterloo, Ontario, Canada
Area served
Worldwide
Key people
Products Software-as-a-service applications for logistics and supply chain management
ServicesDescartes Global Logistics Network
RevenueIncrease2.svg US$ >500 million (2023) [1]
Increase2.svg US$ 37.0 million (2020) [1]
Total assets Increase2.svg US$ 942.6 million (2020) [1]
Total equity Increase2.svg US$ 821.7 million (2020) [1]
Number of employees
2000+
Website descartes.com

The Descartes Systems Group Inc. (commonly referred to as Descartes) is a Canadian multinational technology company specializing in logistics software, supply chain management software, and cloud-based services for logistics businesses.

Contents

Descartes is perhaps best known for its abrupt and unexpected turnaround in the mid-2000s after coming close to bankruptcy in the wake of the dot-com bubble collapse. It is also known as one of the earliest logistics technology companies to adopt an on-demand business model and sell its software as a service (SaaS) via the Internet. In addition, the company operates the Global Logistics Network, an extensive electronic messaging system used by freight companies, manufacturers, distributors, retailers, customs brokers, government agencies, and other interested parties to exchange logistics and customs information.

Headquartered in Waterloo, Ontario, Canada, Descartes is a publicly traded company with shares listed on the NASDAQ Stock Market (NASDAQ: DSGX) and Toronto Stock Exchange (TSX: DSG). It has offices in the Americas, Europe, the Middle East, Africa, and the Asia Pacific region.

History

Descartes was founded in 1981. [2]

In 1998, the company made an initial public offering on the Toronto Stock Exchange, [3] where its common shares traded under the stock symbol DSG. [4] Descartes was first listed on the NASDAQ Stock Market in 1999, [3] with common shares trading under the symbol DSGX. [5] Descartes’ share price peaked during the dot-com bubble and then fell precipitously in the subsequent crash. [3] [6]

In 2001, Descartes switched its business model from selling full-featured enterprise software licenses to providing on-demand software on a subscription basis, becoming one of the first SaaS providers in the logistics sector. [7] [8] [9] After years of losses, Descartes came close to bankruptcy in 2004, [6] [7] prompting it to aggressively restructure. [10] [11] The company cut 35% of its workforce [12] and initiated a sweeping transformation of its corporate culture under CEO Arthur Mesher, who was appointed in 2005. [6] [13] [14]

The company returned to profitability in 2005, [15] with one analyst[ who? ] describing this as "one of the most dramatic turnarounds in Canadian corporate history." [14]

In December 2013, Descartes was added to the S&P/TSX Composite Index, an index of the stock (equity) prices of the largest companies on the Toronto Stock Exchange. [16]

By January, 2015, Descartes had posted 41 straight profitable quarters [17] and was supplying logistics software and services to more than 10,000 logistics-centric businesses, [18] such as ground transportation companies, airlines, ocean carriers, freight forwarders, manufacturers, distributors, and retailers. [19] [20] [21] [22] [23] [24] Its customers included American Airlines, Delta Air Lines, Air Canada, British Airways, Maersk Group, Hapag-Lloyd, Con-way, Kuehne + Nagel, DHL, The Home Depot, Sears Brands, Hallmark Cards, Hasbro, Volvo, Ferrellgas, Del Monte, and The Coca-Cola Company. [18]

In 2018, Gartner ranked Descartes 6th in its list of the Top 20 Supply Chain Management Software Suppliers, based on revenue of $221 million. [25]

In July 2020, Descartes Systems Group confirmed that dnata is expanding Descartes Core Bluetooth Low Energy (BLE) readers through its regional freight operations to enable foreign mail, shipment, and freight monitoring. Groupe Descartes Services T.DSG stock is up $0.68 to $71.47. [26]

Acquisitions

Acquisitions have played a key role in Descartes’ growth. [27] [8] [18] [28] [29] By acquiring niche technology companies, Descartes has expanded its line of logistics software and services, enlarged its customer base, and extended its business geographically. [7] [18] [30] [31] [32]

Acquisitions going back to 2006 are listed below.

Year AcquiredCompanySpecialtyCountryReferences
2006ViaSafeCross-border and regulatory compliance softwareCanada [33]
2006Flagship Customs ServicesCustoms filing softwareUS [34]
2006Cube RouteOn-demand logistics management softwareCanada [35]
2007Ocean Tariff Bureau and Blue Pacific ServicesTariff filing & contract publishing and surety bonds for ocean intermediariesUS [8] [18]
2007Global Freight ExchangeElectronic air cargo booking systemUK [36]
2007RouteView TechnologiesDelivery management softwareUS [37]
2008Pacific Coast Tariff BureauRegulatory compliance servicesUS [38]
2008Mobitrac Fleet Management BusinessFleet routing and scheduling SaaSUS [39]
2008DexxEuropean customs filing and logistics messagingBelgium [40]
2009OceanwideSaaS customs and regulatory complianceCanada/US [41]
2009Scancode SystemsParcel and LTL shipping softwareCanada [42]
2010PorthusGlobal trade management softwareBelgium [18] [43]
2010 Imanet On-demand Canadian customs filing softwareCanada [44]
2010Routing InternationalRoute planning softwareBelgium [45]
2011TelargoFleet telematics data gathering software and servicesUS/Slovenia/Hong Kong [46]
2011IntercommITElectronic exchange of trade dataNetherlands [47]
2012GeoMicroVehicle routing and navigation technologyUS [48]
2012InfodisTransportation management SaaSNetherlands [49]
2012 Integrated Export Systems Logistics SaaSUS/Hong Kong [50]
2012ExentraEU driver compliance SaaSUK [51]
2013KSD Software NorwayElectronic customs filing software for the EUNorway [52]
2013Impatex Freight SoftwareElectronic customs filing and freight forwarding softwareUK [53]
2013CompudataSupply chain integration and e-invoicing softwareSwitzerland [54]
2014Computer ManagementSecurity information filing services and air cargo management softwareUS [55]
2014Customs InfoTrade data and research toolsUS [56]
2014 Airclic Mobile logistics automation softwareUS [57]
2014PentantCustoms connectivity and import/export softwareUK [58] [59]
2014e-customsElectronic security and customs filing softwareUK [58] [59]
2015MK Data ServicesDenied party screening data and softwareUS [60]
2015BearWareMobile carton tracking technology for retailersUS [60] [61]
2015Oz DevelopmentLogistics automation software for SMEs US [62]
2016Pixi Softwaree-Commerce order fulfillment and warehouse management softwareGermany [63]
2016AppterraBusiness-to-business supply chain SaaSUS [32]
20164SolutionsCloud-based supply chain integrationAustralia [64]
2016 Datamyne Cloud-based trade dataUS [65]
2017ShipRushe-Commerce parcel shipping softwareUS [66]
2017PCSTracShipment tracking software for retailersUS [67]
2017MacroPointFreight tracking technologyUS [68]
2018Aljex SoftwareCloud-based transportation managementUS [69]
2018Velocity MailShipment tracking service for airlinesUS [70]
2018PinPoint GPS SolutionsFleet tracking/mobile workforce technologyCanada [71]
2019 Visual Compliance Restricted and denied party screeningUS [72]
2019Core Transport TechnologiesAccurate tracking of international mail, parcel, and cargo shipmentsNew Zealand [73]
2019STEPcomBusiness-to-Business supply chain integration networkSwitzerland [74]
2019BestTransportTransportation management system providerUS [75]
2020PeoplevoxCloud-Based eCommerce WMSUK [76]
2020KontainersLogistics SaaSUK [77]
2020ShipTrackCloud-Based Logistics platform for Final-Mile DeliveriesCanada [78]
2021QuestaWebA leading provider of foreign trade zone (FTZ) and customs compliance solutionsUS [79]
2021Portrix Logistic SoftwareStreamlines and automates complex global shipping rate management processesGermany [80]
2021GreenMileCloud-based mobile route execution solutions for food, beverage, and broader distribution verticalsUS [81]
2022NetCHBCloud-based platform to streamline and automate customs filing processes in the USUS [82]
2023GroundCloudCloud-based provider of final-mile carrier solutions and road safety compliance toolsUS [83]

Global Logistics Network

Descartes’ cloud-based logistics messaging system, the Global Logistics Network (GLN), connects more than 13,000 customers in over 160 countries, [23] [29] making it one of the world’s largest logistics networks. [18] Each year, the GLN carries more than 4.5 billion messages and manages more than 30 million shipping routes. [84]

Companies use the network to oversee shipping orders, file customs paperwork, comply with security regulations, share information across international supply chains, and automate logistics processes. [7] [18] [24] [85] [86] In 2015, Descartes signed a deal with German business software giant SAP SE that allows users of SAP’s transportation management software to access the GLN. [85]

Conference

Descartes holds an annual logistics technology conference for its users and partners. The eleventh Descartes "Evolution" conference was held in 2016. [87]

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References

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