March 13, 2006
iTradeNetwork Launches Price Synchonization Module
On-Demand Price Synchronization Module is the latest ITN Collaborative Application for the Food Industry
Livermore, CA. (March 13, 2006) - iTradeNetwork, Inc. (ITN) announced today the launch of its newest on-demand, collaborative application for the food industry: Price Synchronization Module.
This integrated Price Synchronization Module allows food industry manufacturers and suppliers to deliver real-time prices and price updates to their customer at any organizational level. This application collaborates with existing EDI 832 transaction for data delivery protocol. This application allows price updates as well as data synchronization to the data catalog of their customers (direct or via a data pool) in any format, while maintaining data synchronization with their own master catalog. With integration to iTradeNetwork's Order Management Solution (OMS), customers will now receive the benefit of collaborative procurement system, including real-time data synchronization and pricing information.
As with all iTradeNetwork applications, the Price Synchronization Module operates interactively from a Web browser. List price, Contract price and Bracket prices are maintained in iTradeNetwork. iTradeNetwork will facilitate price delivery in any format to the supplier's customer. Price management and price delivery is integrated into iTN's procurement and logistic module. With integrated functionality price guidance and next bracket threshold information can be available to the customer at the time of the order process. Configurable workflow extends the value to those outside pricing but interested in price and volume performance, supporting virtually any global organization. With this additional functionality the loads can be optimized based on cube and price. Historical price information integrated into iTradeNetwork's recently announced Trade Spend Optimizer provides historical trends and a more effective sourcing strategy.
According to Robert Bonavito, Chief Executive Officer of iTradeNetwork, "Today, most companies have catalog or product master systems to manage and maintain their internal catalogs. However, current pricing systems usually do not synchronize with either internal catalogs or those of external trading partners. Our customers require that pricing information by trading partner, shipping location, and receiving location can then be tied to individual items. Now, catalog data coupled with all relevant pricing information to include FOB, delivered, volume, bracket, is communicated to trading partners in real-time."
Bonavito added: "Efficient pricing is a hidden profit lever at most companies. As with all of ITN's on-demand applications, our customers instinctively know there is quantifiable value to be gained, and upon deployment are pleasantly surprised at the value they can find in price management. iTradeNetwork believes this is the first on-demand application that ties data/catalog management (aggregated from all business units into one master catalog), pricing and an efficient price communication methodology into a single point of integration."
About iTradeNetwork, Inc
iTradeNetwork is a privately held technology leader in On-Demand E-Business solutions. The ITN suite of workflow collaboration products include: Order Management System (OMS), Logistics, Contract and Rebate Management (CaRMA), Promotional Planning, Demand Forecast, VMI, Financial Services, Trade Spend Management and Content, as well as low cost integration to customers legacy systems. 16 of the top 20 North American Retailers and most leading Foodservice companies are utilizing iTradeNetwork's e-business solutions with over 4,000 trading partners/customers.
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