Suprema Profile And USA Expansion Examined

Published Apr 25, 2023 15:02 PM

Suprema, a 20+-year-old Korean company, is best known for its biometrics but the company is now emphasizing its access control offerings and expanding in the US.

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In this note, based on an interview with Suprema President America Bob McKee, IPVM analyzes the company's financials, operations, and competitive strategies across the following items:

  • Suprema background
  • Market expansion
  • McKee as Suprema President America
  • Go-to-market strategy
  • Suprema’s US operations & team setup
  • Product offering expansions
  • Market leader aspirations
  • Distribution play
  • Financial overview
  • Customer service focus
  • Technology breakdown
  • Competitive strategy
  • Future biometrics, digital credential use in access control

Suprema **********

******* ** ****, ******* ** * South ****** ********** *** ****** ******* company. ** ** *** ********* *** ******** ***** ***-*** ******************* ******** **** ******* ***. *** ******* *** **** ******** listed ** ****** ***** **** *** has * ****** ************** ** $*** million. ******* *** ************ ********** ****** as * ********** ******** ******** *** over *** **** *** *****, *** company *** ******* *** ******* *** focus ******* ****** *******.

Suprema ** *** ** - **** ******* ******* ********** ** ******** *** ****

************, *******'* ********* *********** ** ***** America *************, ** ****** ******* ******* ***** in *******. ** *** ********* **** IPVM, ***** ****** **** ******* *** decided ** ***** ** ******* *** access ******* ******** ** ****, *** Suprema's ***** ******** ******** ********* ********* as * ****** ** *** ********* shift:

** *** ** ********* *********** **** in ***** *******, ***** *** **********. BioConnect *** *** ***** *** * think **** **** ******* *** **** [Suprema] ****** ** **** **** *** North ******** ****** **** ***** *****. That *** ***** **** ***** ***. They ********* ******* *** ***** ********.

**** [*******] ******* ** ** *** to *** ** ******* ***** ****** control ********, ** ********** *** ***** and *** ***********. **** *********, * found **** *** ***** ***** ***** lots ** **** ** *** *********** locations ****** ***** *** **** *********** to ******* ****** **** *******.

***** ***** **** **********'* ******* ***** in ****** ******* ** ********** *************, while *******'* **** ***** ********* ***-**-*** solutions *** ***** ** ****** **********. The * ****** ****** ******** ****** divisions *** **** ********* "******** ******* to ****** ***** *** ******** *** a **** ** ***** ***** *********."

*******, ***** *********** ** **** **** Suprema ***** ***** ******* **********, *** its ******** *** **** ********* ******* a ******* ** ***** ********:

** * ****** ** ****** *** access ******* ******* *********, ***** *** a **** ** ****direct ********* driving these solutions. So, the once exclusive distributor continued its campaign addressing the higher end of the market, while Suprema started its brand identity by providing both access control and biometric products to the North American market. [Emphasis added]

They [**********] ***** **** ******* ********** ******* *** *** ** ****** *********. They currently buy directly from HQ but will fall under the Suprema America umbrella on July 1st of this year. All of their purchases will come through my organization. Some of the mega projects, due to special firmware, things are done directly with the Headquarters[in South Korea], but all of their [Suprema's] new products will come through us and then we will help promote their brands. [Emphasis added]

Suprema ****** *********

***** **** **** **** ******* ** expanding *** ******** **** ***** ********* a ********** ******* ** ***** **** an ****** ******* *** ********** *******:

**** ***** ***, **** [*******] ****** tobring ***** ***** ******** ** ****** ******* *** ********** ******* ***** ****** ********, except North America where we are a new entrant, was primarily biometrics. [Emphasis added]

***** ********** ** *** ******* ******* to ***** *** ********* *** ** competition **** *** ***** ********* *** larger ****** ************* ** ****** *******:

******* ******* **** ** *** ***** and *** ****** *** ********* *********** modules ** ******* **********. *** *******, Suprema ******** *** ******* ****** ****** with *** *********** *******. *** ******** noticed ** **** **** * ***** integral ***** ** *** ***** *******; therefore, *** ************ ************** **** **** small. ** **** **** *** *** company ** ******** ** ****, **** would **** ** ****** *** * way ** ******** *** *********** ****** and ****** * ****** ** ** used ** ***** ******* **** **** and **********, *** ********.

***** ********* ***** *** ******** [*******] experienced *********** ******. [** ***] **** monitoring *** *********** ** *** ************* market. *** ******* ************* **** ****-***** in ******** ** [*******,] **** ********* products **** ********** [*******'*] ******** ** enter **** *** ****** ******* ******.[Access ******* ***] ****** ****** ************ **** **********. So about five years ago, Suprema changed its tagline from Biometrics and Security to Security and Biometrics. [Emphasis added]

***** **** ********* **** ******* ***** changes, ******* ** ***** ****** ***** as * ********** *******:

**** * ***** ***********, ** **** still ***** ** * ********* ****** for *** **** ****.

Product ******** **********

******* * ***** ** ***** ** access *******, ******* *** ***** ** expand *** ********* ** *** ** high-end ******** **** *** ******* ***-*** focus ******* *********:

* ***** *** **** ** * result ** ******* *** *********, ** will ******** ** ****. ** **** 500 ******-**** ***********, ** **** *** Europe [** ***] ********** ** *** larger ********** *** ****** *********** ** well ***** *** ******* * ******** solution. ** **** ********* ***** ** the ****** ****** **** *** *********** of ******* ********* *** ********.

********* * ***** ******* ** ****** levels, ***** **** *** ***-*** ****** is *** **** **** *******:

********** *** *** *** ** ******** interesting ***** ** *** *** ****** studies. *** * ***** *** ** is ***** ** ****** ******** ******* sets *** ***** **** **** ** doors. **** ******* **** ** *** access ******* ****** *** ***-*** *** normally * *********** *******. *** ****** market ** ********* ********* ****** **** the ****** *** *** ********** ** national ***********.

* **** ** **** * ******** and **** ***** **%+ ** *** market ** ****** ** *** ***-*** sector. *** **** ** **** ** to **% [*** *** ****** ******], and **** ** **** ** **% [for *** ****-*** ******].

*** ****** ****** ** *** *********** side *** *** ****-*** ****** ** the *** **** ** **** *****, The ***** *** [**] **** **** distribution. ****** ********, **** ** *******, price ***********. ***-*** ** *** *** rate ******** **** ***** **** ****** on *** *** ********.

McKee ** ******* ********* *******

** ******* *** *** ******* ***** and ****** ********* ** *** **, Suprema ********* *****, *** *** ******** President ** ****** ****** ***., **** 2009 ** ****. ** *** ************ with ****,*************** ** *** *** ********** ****** the ******** ****** *** ***** *******’* brand ******** ** *** ******:

**** * ***** **** ** ***** it ****** **** ******* [***] ********* [about ***] ********, ******* *****, *** distribution ********.

**** *** **** * *****-**** ********* for **. ** [******* *** ******* Kim] **** **** * *** ** Paxton *** *** *** ************ ******** visibility ** *** ***** ******** ****** when ** *** ** *******.

Suprema’s **-**-****** ********

***** ********** ** *** ** ******* Suprema ** ********* *** ******** ******** strategies ****** ***** *** *********:

*****, [*] ******* ***[******* *** ******* Kim] **** *** **** ** **** a ***** ***** *** **** ** compete. *** **** ****** ** *** things ** ******** *** **** ******* portfolio ***********, ********* ***** ** **** centric ** *** ***** **** ** the *********** [** *** **]. **** is ***** ** **** ** **** and **** ** ***** ** **** to ** *** **** **** *** that ** *** *** **** ****** your ******** ** **** *** ************ in **** ********** ***********.

* ***** ** *** **** * great *** *****. *** ** ******* that **** *** ***** ******** ****** being ** *******, ** **** ****** momentum ** **** *** ****** ***** our ****** ******* *********.

*** *** ** ***** * *** of ****** ** ****** **** ******* portfolio. ***, ***** *** * *** of ********* *********** **** *** *** do. **** * *** ** *** board ** ***, **** ** *** surveys **** **** **** **** ******* across *** ** ********* **** *** best ********* ** ******* ****** *** a *************.

***********, ***** ********* *** ** *** reached *** ** *** ******* *** referral ******* ** **** ******* ***** its ***** **********:

* **** ** ***** * *** of ****** ** ****** ********* ******* choice. * ***** *** ** ** through * *** ** ***** *********** like ****** *****, ** ****** ** that ******.

* **** **** ****** ** *** street. **** **** ** ** *********** for [*******] ** ******** *** ** my ***** *******.

* ****** ** * *** ** dealers **** * ***** **** **** the *******, *** **** *** *** know ***** ******* *** *** ******* portfolio. **the ******** *** ****** ***** ******** ********** ** *** ***** *** **** ***** **** ** *** ***** ************. [Emphasis added]

Suprema’s ** ********** & **** *****

***** ********* **** ************, *** ******* sales **** *** *** ***** ****** momentum ** ******** *** ********** *** company’s ***** *** *******:

** *** * ******** ***** ********, 1 ** ***** *** * ** the **** *****, **** * **** on ***** **** ****. **** **** in ***** ********* *** ***** ***** covering *** ** *** ******. [** addition], ** *** *** ************** ********* and * ** ********* *******. **** they ****** ** ** *** ******** the ************* ****; ***** *** *********** companies. **** *** * **** ***** population.

*** **** * ******* *** ** you **** ** ******* * ********** profile *** *** ********** ********* ** perform *** **************** ** * ******** sales *******. ** *** *** ***. Being * ******* **** ** **** very *********** ***** ***** ** ** able ** ******** *** ******** **** we **** ****.I *** ******* ******** ******** ** **** ** *****. [Emphasis added]

***** ****** **** ** ********* ******* of *** *******, ***** *** ** place * *** ** ***** **** that *** ******** ******** ******** **** decades ** **********. ***** *** *** 10 ****** ** *******'* ***** ******* team:

***, ** **** * ******** ** Sales **** **** ** ***** ** the ********, [***] * ******** ***** managers. **** ** *******, [* *********]***** *****, * **-**** ******* *** **** in *** ******** *** ** ***** down ***** [** ***] *********. ** knows *********.

[** **** **** * ***** ******** sales ********,] * **** ** ***** and * **** **** ** ***** [of ********** ** *** ********]. [**** is] * **** *********** **** ** drive *** ****** *** *******. [** have **** *****] * *** ********* and ************** ***** *** * **** technical ******* ****** ** *** **** [coast]. *** [**] *** ***** *** three **** ***** *** *******.

*** ******* ****** *****, ******* ********** with *********** ***** *************** ** ****** with *******, ***** **** ****:

** **** ******** ******* ** *** 50 *********** ***** **** ********* ** our **** ******* *** ******* *** talking ** *******. **** ******* ********, presentations, *** ************** ******** *** ******* portfolio. **** [*********] *** **** ********* [at] *** *** ****** ******* ********* are *************, ****** ** ***, *** install. *** ************ ****** ****** ***********, not ****** ******* ** ********.

***** *********** ********** *** ** ******* in **** * **** * ********** mode. ** *** ** *** **** wide ********** ** ****** *******, *** are * ******* ** *** ***********. They *** ** ** * *** of ********, * *** ** **** knocking ** ***** **** ***** ** to [*** *****] ***** ****** ***: "Oh, * **** ***** ***** *** guys."

********* ****** **** *********, ***** ********** that **** **** **** *** *******’* operations, ********* *******, *** ******** ******* functions:

***** ***** ***** ** * ******more ********* ** *** **** **** ** *** ***** and maybe some niche type where you bring in a distribution guru, maybe national account type entities. We are already in negotiations with some key national account-type programs. [Emphasis added]

* ***** ***much **** ****** ** ********** *** *** ********* ******* ***** where we are wanting to expand. I started developing a team predicated on supporting customers, far better than anybody else out there. Not to say I always say tech support is the price of non-conformance somewhere along the line, we are not teaching them properly or, giving them the proper instruction and so forth. I would like to be there for dealers, being able to pick up the phone and if they are on a ladder and they need to get something done, they just need somebody to reach out to them, we are going to be there for them. [Emphasis added]

Market ****** ***********

***** *********** **** ******* *** *** product *** ********, *** ********* *** hires, *** ******** **-**-****** ********, ******* endeavors ** ****** * ****** ****** within *** ****** ******* *** ********** markets:

* ****** ***** **** ********* **** into *** ** ****** *** *** have ** **** ** *** ******** the ******* **** ** ** * market ******. **** ******* **** ********* to ********* ******* ** ****** ****** leaders. **** **** ** *** **** that ****.

Suprema’s ************ ****

***** **** **** **** ******* **** sells ******* ************ ** *******/*********** *** that ** "**** *** **** ** end *****."

* ** *** ***** **** **** in ************ **** ** ************ ********; they **** *** **** ******** ** learn. **** * ** ***** ** I **** ** ** *** *** to *** ****** [*******] *** **** tell ****, **, ** *** **** our *******, ** ** ***** ** your ***** ***.

Suprema ********* ********

*******'******** ******,****** **********, ******* **** ************* ******** ********* ** ****** ********* on *** ******. ********* ** *** company’s **** ********* *******, *** **** revenue *** ~$** *******, **** ****** was ~$** *******, *** **** *** income *** ~$** *******.

Customer ******* *****

** ******* ** *** ** *******, McKee *********** ******** ******* ** *** of *******'* *** ********* *** *************** among ***** ***********:

** ****** ** ***** ** **** would *********** ** **** *** **** of *** ***********: *** *****'* ******* side.

** ******* ********** **** ** *** seen *** ** ******* *** ****** company ******* ****** ***** ******* ** previous *****, *** **** **** **** remain * *** ***** ***** *** leadership:

* ******* **** ** *** ******* of ******* **** ***** ** *** Director ** ******** ***********. ** *** take **** ** *** ******** *** you **** **** ** *** ********, everything **** **** ***** ** *********.

***** *** * **** *********** **** into *** ** *********** *** *******. Having ****** ********* *** *** ****** would **** **** ** ********* ** the **** ******* **** ** *** putting **** **** **** ** *******.

I **** * ********* ******* *********, *** * ** ******* ** *** ** **** ***** *** ********* *** *****. What are they looking to have, how do we distinguish ourselves from the next biometrics player, the next access control player? It is going to be our service. That is what I am focused on right now. [Emphasis added]

Suprema ********** *********

***** ********** ** *** *** ******* competes/cooperates **** ****** ** ****** ******* and ********* *********:

****[******] ** *** *********** **********, ** it ** * **** ****. *** it ** * ******, ****** ****. I ***** ***** ***** * **** all *** ****** ** ****** * would *** ***** *** ** ** friendly *** ** ** ******* * have *** ***** * *** ** their ****** ***** **** ** **** place. * **** ****** **** *** playground.

We *** ********* ***-**-*** ****** ******* ********* ** ********** **** ********* **** ****** **** *** ********* ******* *** ** *********** ********. We continue to see biometric adoption in the middle to enterprise markets that require us to meet these needs with our biometric edge devices. [Emphasis added]

*******'* ********* **** ********* ********* **** other ****** ******* ******* ***********, ******, *** *******:

**** *** ***** ***** ******* **** in *** ***, ** *** ** edge ****. ** ** *** ** the *********-**** ******* **** ** **** available **** **** ******* ** ***** ACM ****** *** *****.

* ****** ** **** * ****** good ******** ** ********** ** *** edge ******* **** **** ** **** Fortune **** *****. ** **** ** a **** ******** **** *** **.

** ** **** ** ***** *** RFID ********* ** **** *** ************* but [** ***] *** ****** **** movement *** *** *** ****** *** DESFire *********. ** *** ** *****, intelligent ******* ** *** ************ ***** with * **** ******* **** * panel *** **** *****. ** **** that ******* *********, *** ** **** not **** ***** *** ** *** ACM **** ** ******* *** ******* panel.

**** *** ******* ** *** *** controlled ** *** *** ****** * one-stop **** *** *** ***** ********** to *** ******** ** ********. ** they *** ******** ** **** **, the ****** *** ******* **** ** the ***** *** *** **** *** put ***** ********* ** * **** more **** *********** ** ****** *********** and *******, **** ******* ******* *** there.

Lots ** ************* **** ******* ********* ****** ** * **** **** ******** **** *** ******** ** ****** *** ******* *******. The customer then can be in the open market for these devices and can even create their private key by training them in a private key ceremony.

We *** ****** **** **********, *** *****, ** **** *** **** * *** ** ******* ** *** ****** ****** *******. [Emphasis added]

***** **** ******* *** *** ******* is ********* ********** ********* **** *** integrate **** ***** ****** ******* ***** devices:

** **** *** ********** ** ******* a ***** ********. ** *** ***** to **** **** *** *****. *** current **** ** ** ******* ***** providers **** *cloud-specific *** ** ** ************ **** *** ********. ** *******, ***** ** ***** ** be ******** ** *** **** ****** of ******, ** *** *** *** Brivos ** *** *****, *** *** if **** **** ** *** ********** in *** *****. [******** *****]

Suprema's *********** ********

******* ********* ******, ****, *** ******* as ***********, *** ***** ** **** not **** * ***** ********, ** does *** ******* **** ********** ********* PDK *** *****.***** **** ** **** *** **** to ***** *****-****** ******** *** ***** rather ******* **** *** ******* ** best **:

** ** *** **** * ***** solution *****.** **** ** ****** * ******** predicated ** *** *********** **** ***** out ****** **** ** ****** *****. I ***** ****** ******* *** ********* cloud ********* **** *** **** ******* today *** ** *** **** **** at ***** **.

** ** *** **** ** ** me ** **** **** *** ****** offering * ********** **** ** **** more ***** ******. [***********] *** **** your ********* **** **** ******** ** Brivo, *** ********* ****.

* ***** ****** *** ** **** disruptive ********** ** *** ***********. **** is *** *** *** ********** *** of ** *** **** ** *** make * *********** ****** ** **** space.

************, ******* **** **** ***** ** compete ** *** ***** ****** ******* market ******* ** *** ******:

*******, ** ********** **** * *** of *** ******* **** ** *** touching **** ***** *** ****** *** a ***** ******** **** **** **** to **** ** *** ********. ** is *** ***** ***** ***. ***** [are ************ ******] **** ******** ************, to **** **** **** ** ***** application. **** ****** *** ***** **** today.*** ***** ***** ** *** ** do ** ** ****** ** *** and *** *** *********** **** ** the ***** *** ****** ** ***** out *** ******* ** *** *** we **** ** **** *****.

** ******* *** **** ** ******** a ***** ********, ***** ********* *******'* digital ****** ******* **************:

** **** * ***** **********. ** ** *** ** *** companies ********** *** ******* ******** **** has * ******* ********. *** *** companies *** ******* ******** ***** **** are ******* ** *** *****. [** are] ****** ** ********** *** **** solution *** ***** ** **** *** Suprema ******** ** **** ** **** both ****** ******* ************ *** ********. [We ***] ***** *** ******* **** and **** ***** ** *** ****** control **** *** *** ** ******** to *** ** ***** ********* **** unique ** *** ***********.

** ***** ** ****** ******* ***************, McKee **** ** ** ********* *** Suprema ** ************* ****** **** *** rest ** *** ***** *******:

**** ** ** **** ********* * little ********* **** *** ***** *** saying ** *** ******** *** ******** would ** **** ***********.

*****, *******'* ******** ************* *** **** biometric ************ *** *** ******* *********:

*** ******** ************ ******** ******** **** to ******* *** ********; ****, ****** us ***** **installation *********. Being a biometric manufacturer negates having to do an API integration to our platform as well as a deep integration where enrollment is embedded in our card record field. We can offer our users biometrics (Finger and Face), RFID (Low and High Frequency), digital credentials, QR codes, multi-factor, multi-modal, intercom, and even time and attendance. In some eyes this would be significant but in others slight differences. [Emphasis added]

Future **********, ******* ********** *** ** ****** *******

***** ********* ** *** * ****** for *******'* *********** ********, ****** ** its ***** *****:

** *** * **** ******** ** fingerprint **********. **** ***** *** ** certainly *** * ******* *** *** facial ******** ******.

**** *****, [****] *** *** **** about *********** *** ***** ***** ****** would ** *** ******** ****** *** it ** ***. * ***** ***** are ******* **** *********** *** * think ***** **'* * ****** ********. The *********** ** **** ********* **** facial ************.

*****, ***** **** ****** ****** ** facial ***********. ** **** ****** *** observation ***** ******* *********** ** ****** phones, *** *** ** ** *** as ******* ** **********:

* ** *** *** ***** ** facial ******** *** ******** ********* ****** and * ***** ** *** *** wide ******** ** *** ******* ********** over *** ****.

**** * **** **** ************ ** that ******** ******* **** * **** play **** * ******* ********** **** the ******* ******. ***** **** *** benefiting ********* *** **** *** ***** their ***** ******* ** ***** *** users. * ** ***** ********** *** entered **** *** ******** ********* ********** use ** ***** ******** ** * only *** ** ****** ** ***[**********'] deployment **** ******** ** ***** * card, ** ****** *****.

******** ******** ******* * *****. *** digital ********* ** *** *********** ****. Not *** ******* *********** ******* *** same. ***** *** ********* **** **************, user ***********, *** **** ******* ****** that ***** ***** **** ********. **** in * ******* *********** ***** ********* are *** ******* ** **** ***** phones. **, ***** * *********** ** the ****** ** ******* *** *** maybe * *********** **** ***** *********** would ** ********. *** *** ** biometrics *** ** * ****** ******** because *** *** **** **********. ***** leave **** ******* **!

***** **** ******* ******* ** *** digital ********** *** *** ** ******* as ****** ***** **** ***** **:

* ****** *** * ******* *** a ***** ***** **** *** ******* the ******* **********. *** ** **** talking ** ******* **. ***** *** the ********* ** **** ******* ****.You ***** ***** **** *** ******* ********** ***** ** * ***** **** *** ***** ******* ** ** **** ** **** ** *** ** ** ***. [Emphasis added]

** *** **** ****** ****, **** said ** ****** ** ******* * choice. * *** ** *** ********** wanted ** *** ***** ****** ****** to **** ****** ** *** ********. But **** ** *** ***** ***** would ****** **** *** * ****. [Some ****** ***** *****:] "* ***'* want ** *** * ******* ********** on ** ***** **** *** *******."

[****] *** **** *** ******* **** was **** ****** *** *** ****, but **** ***** *** *** ** there. * ***'* ***** ** *** the ********* **** ********** **** ****. I ***** ** *** **** **** that **** **** *** *** *** it ***** ** ********* **** ****** to ***.

************, ***** **** ******* ********** ***** in ******** ***** **********:

***** *** ******* ********** * ***** say **** *** ******* ** **[******* credential]. [**] ********** ***** *** **** multiple ***** ** *********** *** ******** coming ** ***** *** *** *** time, ****** * ******* ********** [*** be * **** ***].** * ***** ** ** ***********-*******.

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