“Utilizing a dedicated approach to manage and distribute product information is essential to the efficiency of product related processes.” - Mark Smith, Ventana Research
Houston, TX (PRWEB) August 15, 2014
Riversand Technologies, a worldwide provider of Master Data Management (MDM), Product Information Management (PIM) and data quality solutions, announces the availability of a new Research Perspective on “Streamlining Product Information for Consumer Goods” from Ventana Research. Ventana Research defines PIM as the processes, information and technology used to manage all of an organization’s product information to conform to established formats and standards.
The Ventana Research Perspective covers:
*PIM in the Consumer Goods Industry
*Benefits of Product Information Management
*GDSN: Information Standard for PIM
Ventana Research found that approximately 64% of consumer goods companies, those who are using less capable methods than PIM software to manage their product information, such as manual efforts, custom code and database software, are dissatisfied. Almost half of the participants cited incompatible tools as the barrier to creating a single source of product information. Ventana Research also found that there is a growing trend for them to want change the way they manage product information with PIM software in the coming months in order to create single, consistent, complete and reliable product records.
“Ventana Research makes substantive recommendations to consumer goods companies about evaluating and adopting the right software dedicated to managing product information to create a single source of truth,” said Upen Varanasi, CEO of Riversand Technologies. “As they point out, legacy tools are not able to support advanced data interchange that help streamline sharing of accurate product information and digital assets between suppliers and manufacturers.”
“For too long, consumer goods companies have not used dedicated software across the business to manage one of the most important information assets of their organization,” said Mark Smith, CEO and chief research officer, Ventana Research. “Utilizing a dedicated approach to manage and distribute product information is essential to the efficiency of product related processes.”
The Ventana Research Perspective also identified that a dedicated PIM system and GSDN, the Global Data Synchronization Network Standard managed by GS1, can streamline information processes and give companies the confidence that the information they communicate to customers will help increase sales and increase customer satisfaction with the products they buy.
Consumer goods company participants in Ventana Research PIM research also identified GDSN, the Global Data Synchronization Network standard managed by GS1, as the third-most important standard in their product information strategy, after Electronic Data Interchange (EDI) and eXtended Markup Language (XML). EDI and XML, and the Comma Separated Value (CSV) file format as well, are critical to support seamless interchange of electronic catalogues among partners.
The full Research Perspective, sponsored by Riversand, is available for download here.
About Ventana Research
Ventana Research is an authoritative and respected benchmark business technology research and advisory services firm, recognized for understanding the role of technology in optimizing business processes and performance, and providing best practices guidance. Learn more about Ventana Research at ventanaresearch.com.
About Riversand Technologies
Riversand Technologies, Inc. is a worldwide provider of Master Data Management (MDM), Product Information Management (PIM), and data quality solutions. Customers include VF Corporation, Bed, Bath & Beyond, PC Connection, Scansource, Schneider Electric, ESAB, Teva Pharmaceuticals, ConocoPhillips and ExxonMobil. Riversand's PIM and MDM solutions allow clients to manage accurate, timely and up-to-date information through their supply chains, providing accelerated time-to-market, vendor data on-boarding, product assortment growth and an enhanced cross-channel customer experience. For more information, visit Riversand.com and follow @RiversandMDM on Twitter.