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NovoDynamics Appoints SAP Executive Thad J. Dungan to Board of Directors

NovoDynamics Appoints SAP Executive Thad J. Dungan to Board of Directors

NEW!! With Comments from DIR at the end of article!

NovoDynamics, a developer of pattern recognition and analytics technologies, today announced that Thad J. Dungan has joined its Board of Directors. Mr. Dungan. Vice President in the SAP Products and Innovation Group, brings NovoDynamics over 25 years of leadership experience in developing enterprise software solutions for the Automotive and Manufacturing industries.

“With years of experience in new product introductions and innovation, Thad has a strong track record of applying a market-centric approach to create innovative solutions for customers wanting to gain insights and value from their data,” said NovoDynamics President and CEO David Rock. “He understands the importance and value of referencing customer challenges, as well as the critical need to build a repeatable and scalable deployment model. We are eager to bring his expertise to bear in enhancing our product offerings.”

At SAP, Mr. Dungan has successfully worked in various leadership and general management roles including Product Management, directing the Operational Performance Management Portfolio in the fast growing area of Analytics for Supply Chain and Procurement. As Global Automotive Marketing Director, he contributed to a go-to-market strategy that helped SAP become one of the preeminent solutions in the Automotive industry. Prior to joining SAP, Mr. Dungan was Vice President of Solution Consulting focused on Automotive, Industrial, Electronics and High Technology products at Manugistics (now RedPrairie), where his team helped generate revenue in excess of $65 million. At General Motors, Mr. Dungan held various positions in Business Planning, Procurement/Trade, Strategic Sourcing, Program Management/Readiness and Vehicle Logistics, directing the management of over $600 million of GM finished vehicle inventory. Mr. Dungan earned a B.A. from Brigham Young University and an MBA from the Thunderbird School of Global Management.

“In addition to his extensive technical background in enterprise software development and analytics, Thad’s knowledge of the Automotive segment and other industries we serve should help us further expand our business,” commented David Rock.

Commentary from DIR:

NovoDynamics has both a document and capture and data analytics business. In the document capture world, it is probably best known for its Arabic OCR and recently signed a partnership agreement with ForeFront Technologies, one of the leading VADs for document imaging technology in the Middle East. In the data analytics world, NovoDynamics provides technologies that helps businesses like automotive manufacturers better understand the dynamics of their operations—such has helping them track demand for replacement parts.

According to Art Nicholas, VP, global sales for NovoDynamics, Dungan’s appointment should benefit both parts of the business. “Thad will provide value from both an analytics perspective and an imaging perspective,” he said. “Based on his industry experience, he understands that customer data is not only in structured, electronic formats but must also be cleaned, classified and extracted from paper and image sources. Having a solution that is able to capture and aggregate all of a customer’s data, both digital and non-digital, and then analyze it to obtain actionable information and insights to answer critical business questions is a powerful solution not offered by any of the large analytics companies today.”

Sounds like Novo is delving into the Smart Process Applications space, as defined by Forrester.