VeriSync Launches With Complete Outsourced Software Suite for Small and Mid-Sized Consumer Packaged Goods Manufacturers.Business Editors CINCINNATI--(BUSINESS WIRE)--Dec. 2, 2002 VeriSync Trade Solutions: -- Software Offerings to Help Manufacturers Address Critical Industry Issues Including Data Integrity, Trade Promotion and Category Management, and UCCnet Connectivity -- New Company Led by Acosta, Integrated Software Systems and MEI VeriSync(TM) Trade Solutions, a provider of outsourced technology solutions for small to mid-sized manufacturers in the consumer packaged goods Noun 1. packaged goods - groceries that are packaged for sale foodstuff, grocery - (usually plural) consumer goods sold by a grocer plural, plural form - the form of a word that is used to denote more than one (CPG CPG central pattern generators. ) industry, today announced the first integrated software package Software that combines several applications in one program, typically providing at least word processing, spreadsheet and database management. Presentation graphics, page layout, paint, calendar, address book, e-mail and other applications may also be included. that answers the critical business challenges of promotion/deduction management, data integrity and category management. The newly formed company offers three unique, yet easily integrated, products tailored specifically to help CPG companies speed transactions and save money. VeriSync's three products enable transparent transactions and solve the critical problem of incorrect product data moving between manufacturers, brokers and suppliers. The new offerings include: InfoLync (category management software); ItemLync (product management and supply chain products); and TradeLync (trade promotion and deduction software). VeriSync is built on the combined strengths of three leading software vendors who focus specifically on solutions for the CPG industry. These include Montreal-based MEI, which specializes in promotion and deduction management systems; Franklin, MA-based Integrated Software Separate software components or applications that have been combined into one package. See integrated software package. Systems (ISS ISS See Institutional Shareholder Services (ISS). ) which provides e-Catalog, UCCnet connectivity and product management tools; and Greenwich, CT-based Sudden Impact which has developed an automated category management software. The venture is spearheaded by executives from Jacksonville, FL-based Acosta, Inc., one of the world's largest food and CPG brokers. Acosta led the charge to form VeriSync to help transform an industry that traditionally has been plagued by data integrity and supply chain problems - costing manufacturers and retailers billions of dollars annually. Sources for these problems include an inability to track pricing, adequately forecast product demand, or provide promotional data in a timely, seamless and transparent manner. "Being at the center of this industry and dealing daily with manufacturers and retailers of all sizes, we were compelled, in the absence of an affordable and linked solution in each area, to develop an integrated software offering," said Gary Chartrand, Chairman-CEO of Acosta. "Our focus is to enable small and mid-sized CPG companies to realize the advantages of true e-commerce and product and category management, while benefiting from the same technical advantages used by today's largest manufacturers." Today, small and mid-sized manufacturers can choose from an array of new applications designed to ease critical business functions such as funds management and tracking, UCCnet compliance and data exchange. Yet these applications have to be purchased from different vendors, putting enormous implementation pressure on organizations, often at a high cost. With all of the additional complexity impacting the CPG industry VeriSync's aim is to enable manufacturers to outsource backroom back·room n. or back room 1. A room located at the rear. 2. The meeting place used by an inconspicuous controlling group. adj. 1. functions and focus resources on brand development and growth. "VeriSync's solution is uniquely positioned to allow our subscribers to benefit from an outsourced solution that performs all the vital functions (Physiol.) those functions or actions of the body on which life is directly dependent, as the circulation of the blood, digestion, etc. See also: Vital of promotion/deduction management, UCCnet connectivity and category management," said Paul Price Paul Price (born 6 May, 1976 in Melbourne, Victoria) is a squash player from Australia. He finished runner-up at the British Open in 2000, and reached a career-high world ranking of World No. 4 in August 2001. , President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of VeriSync. "While other solutions are available, it is necessary to purchase them individually and the costs for each one, coupled with the low efficiency, can significantly impact a company's bottom line." VeriSync offers a fully integrated software solution using a lease or application service provider (ASP) model, making available the latest software offerings at prices that are considerably lower than if the software was purchased independently. Moreover, since VeriSync's tools and services are web-based, the complexity and cost of owning and maintaining additional systems and software are eliminated, providing customers with a more affordable, competitive product. VeriSync Product Offerings TradeLync Promotion and Deduction Management Solution: TradeLync enables the tracking and analysis of trade spend budgets, while efficiently managing both trade promotions and deductions, resulting in increased forecasting capabilities and enhanced overall account management. The VeriSync solution also helps to reduce overspends and resolve uncertainty around spending status. TradeLync enables companies to manage budget allocations, gain a common organizational view of spending activity, forecast promotional effectives, and expedite deduction processing, all while receiving real-time analysis of key performance indicators Key Performance Indicators (KPI) are financial and non-financial metrics used to quantify objectives to reflect strategic performance of an organization. KPIs are used in Business Intelligence to assess the present state of the business and to prescribe a course of action. . ItemLync Data Integrity Solution: ItemLync is VeriSync's cost-effective, dynamic e-catalog/product management solution, allowing companies to centralize cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. , manage, cross index, and exchange vital product information. Included in this suite of products is a certified UCCnet connectivity offering that enables businesses of all sizes to link to UCCnet. UCCnet has created widely adopted standards for electronic commerce that help consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and companies synchronize See synchronization. item information across their supply chain - and with trading partners - providing a non-proprietary standard for the exchange of product information through a single, open repository. The ability to link to UCCnet has been strongly recommended by large retailers such as Wal*Mart, Shaw's, AHold, and Wegmans. ItemLync enables manufacturers to provide data synchronization Keeping data in two or more computers up-to-date so that each repository contains the identical information. Data in handheld devices and laptops often require synchronization with the data in a desktop machine or server. to customers, satisfy UCCnet compliance requirements Compliance requirements are a series of directives established by United States Federal government agencies that summarize hundreds of Federal laws and regulations applicable to Federal assistance (also known as Federal aid or Federal funds). , provide advanced notification of quotes, purchase and place sales orders, while providing a platform for CPFR CPFR Collaborative Planning, Forecasting and Replenishment CPFR Collaborative Planning, Forecasting, and Replenishment (merchandising) CPFR Continuous Planning Forecasting & Replenishment CPFR Calling Party Forced Release (collaborative forecasting, planning and replenishment) and advanced CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. (customer relationship management) applications. InfoLync Category Management Solution: VeriSync offers a multitude of services to meet the data analysis and category management needs of manufacturers. These include custom templates and fully interactive presentations that allow sales teams to quickly create presentations with the latest syndicated data. Specifically, InfoLync enables sales teams to analyze trends and patterns to find sales opportunities; integrates point of sale and consumer data to provide insights into retailers; analyzes promotional trends; while significantly reducing processing hours. All products are available directly from VeriSync by calling 1-888-800-8447 or visiting http://www.verisync.com. About VeriSync(TM) VeriSync Trade Solutions provides an integrated technology solution to assist consumer packaged goods (CPG) manufacturers with promotion/deduction management, data integrity and category management activities. The VeriSync solution offers three state-of-the-art technologies in one cost-efficient package. VeriSync provide manufacturers a quick return on a nominal investment, resources that eliminate the need to buy and maintain costly infrastructure, and a single point of contact. |
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