Descartes Systems

#2043

Rank

$6.76B

MarketCap CA

CA Canada

Country

Summary
The Descartes Systems Group Inc. provides cloud-based logistics and supply chain management business process solutions that focuses on enhancing the productivity, performance, and security of logistics-intensive businesses worldwide. Its Logistics Technology platform offers a range of modular, cloud-based, and interoperable web and wireless logistics management applications, which unites a community of logistics-focused parties, allowing them to transact business. The company provides a suite of solutions that include routing, mobile and telematics; transportation management and e-commerce enablement; customs and regulatory compliance; trade data; global logistics network services; and broker and forwarder enterprise systems. It offers its customers to use its modular, software-as-a-service, and data solutions to route, schedule, track, and measure delivery resources; plan, allocate, and execute shipments; rate, audit, and pay transportation invoices; access and analyze global trade data; research and perform trade tariff and duty calculations; file customs and security documents for imports and exports; and various other logistics processes. The company also provides cloud-based ecommerce warehouse management solutions; consulting, implementation, and training services; and maintenance and support services. It primarily focuses on serving transportation providers, logistics service providers, and distribution-intensive companies, as well as manufacturers, retailers, distributors, and mobile business service providers. The company was incorporated in 1981 and is headquartered in Waterloo, Canada.

History

Descartes was founded in 1981.In 1998, the company made an initial public offering on the Toronto Stock Exchange, where its common shares trade under the stock symbol DSG. Descartes was first listed on the NASDAQ Stock Market in 1999, with common shares trading under the symbol DSGX. Descartes’ share price peaked during the dot-com bubble and then fell precipitously in the subsequent crash.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. After years of losses, Descartes came close to bankruptcy in 2004, prompting it to aggressively restructure. The company cut 35% of its workforce and initiated a sweeping transformation of its corporate culture under CEO Arthur Mesher, who was appointed in 2005.The company returned to profitability in 2005, with one analyst describing this as "one of the most dramatic turnarounds in Canadian corporate history."In December, 2013, Descartes was added to the S&P/TSX Composite Index, an index of the stock prices of the largest companies on the Toronto Stock Exchange.By January, 2015, Descartes had posted 41 straight profitable quarters and was supplying logistics software and services to more than 10,000 logistics-centric businesses, such as ground transportation companies, airlines, ocean carriers, freight forwarders, manufacturers, distributors, and retailers. 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.In 2018, Gartner ranked Descartes 6th in its list of the Top 20 Supply Chain Management Software Suppliers, based on revenue of $221 million.In July 2020, Descartes Systems Group has confirmed that dnata is expanding Descartes Core Bluetooth Low Energy readers through its regional freight operations to enable foreign mail, shipment, and freight monitoring. Groupe Descartes Services T.DSG stock up $0.68 to $71.47.


Mission
Uniting Logistics-intensive Businesses in Commerce

Vision
Our vision is to create a connected trading network, powered by Descartes’ global logistics technology platform, that enables the efficient and secure movement of goods, information and payments.

Key Team

Mr. Kenneth Edward Wood (Exec. VP of Product Management)

Mr. Andrew Roszko (Chief Commercial Officer)

Mr. Raimond Diederik (Exec. VP of Information Services)

Mr. Peter Nguyen (Sr. VP Legal, Gen. Counsel & Corp. Sec.)

Mr. Christopher Jones (Exec. VP of Marketing, Industry & Services)

Mr. Edward James Gardner (Exec. VP of Corp. Devel.)

Ms. Maija Michell (Sr. VP HR)


Recognition and Awards
Deloitte Technology Fast 500 , CIO 100 Award , Finalist in the Canadian Innovation Exchange , Gartner Cool Vendor in global trade and supply chain

References
Descartes Systems
Leadership team

Mr. Edward J. Ryan B.A., BA (CEO & Director)

Mr. John Scott Pagan (Pres & COO)

Mr. Allan J. Brett C.A., C.B.V. (Chief Financial Officer)

Products/ Services
B2B, Information Technology, Logistics, SaaS, Security, Software
Headquarters
Waterloo, Ontario, Canada
Established
1981
Company Registration
SEC CIK number: 0001050140
Net Income
100M - 500M
Revenue
100M - 500M
Traded as
DSGX
Social Media
Wed Feb 28 2024
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