NASDAQ OMX

Nearly 80 Percent of Merchants Report Their Product Content Exchange System Cannot Keep Up With Enhanced Consumer Demand for Transparency

16.5.2017 15:00 | NASDAQ OMX

Del

1WorldSync study finds merchants and suppliers aren't prepared to meet the demands of today's evolving cross-channel commerce landscape

LAWRENCEVILLE, N.J., May 16, 2017 (GLOBE NEWSWIRE) -- While the majority of the industry seems to agree that multi-channel commerce is the future, many companies report they still do not have the proper infrastructure in place to handle evolving consumer demands. Unfortunately, siloed on-premise systems are preventing merchants and suppliers from meeting the increased need for product transparency and industry compliance. In Charting Course for Global Commerce, a recent study by 1WorldSync, 78 percent of merchants report their product content exchange system cannot keep up with enhanced consumer demands for transparency.

"Ever-changing compliance and regulatory standards are a major challenge for merchants and suppliers looking to modernize their multi-channel commerce capabilities, said Dan Wilkinson, Chief Commercial Officer of 1WorldSync. "Manufacturers face a growing list of regulations, such as SmartLabel(TM) for consumer goods, Unique Device Identification (UDI) for medical devices and Classification, Labeling and Packaging (CLP) for hazardous chemicals in the European Union. In tandem with high demand for transparency, suppliers and merchants are left scrambling to curate and syndicate trusted product content that drives revenue."

To further understand the specific pain points plaguing organizations in omnichannel commerce, 1WorldSync, the leading provider of product content solutions, surveyed 400 merchants and suppliers from Europe and the U.S. with more than $500 million in annual revenue. The study found that merchants and suppliers have made significant improvements to their cross-channel strategies, but still aren't able to keep up with changing consumer demands.

Merchants Struggle to Provide Trusted, Robust Product Content
In today's omnichannel world, the pressure is on for retailers to provide trusted product content for customers. However, key findings show that merchants struggle to seamlessly exchange data with suppliers and often don't have internal buy-in on the value of cross-channel commerce investments:

  • Merchants' struggle to provide robust product content: Three in four merchants struggle to provide consumers with compelling, engaging product descriptions and images (such as 360-degree view and video) sourced directly from supplier partner(s).
  • Current systems prevent merchants from streamlining product content across channels: Just one in five (20 percent) report they can easily aggregate and distribute complete, consistent and trusted product information across all channels, including mobile, social, web and in store; leaving the remaining 80 percent with a tremendous gap.
  • Merchants experience internal discord on the value of cross-channel investments: More than half (53 percent) report a knowledge gap internally when it comes to the value of cross-channel commerce capabilities, such as consistent product information across channels or flexible shipping such as "buy online, pickup in store."

Suppliers Face Global Compliance Challenges
To meet expanding consumer expectations for product transparency and a growing list of industry compliance rules, suppliers need the proper infrastructure to manage consistent, authentic and trusted product information across retail partners and channels. The study found that suppliers have made significant investments in these capabilities, but challenges associated with regulatory compliance in global commerce are a drain on revenue and resources. Other challenges include:

  • Data exists in siloes: Sixty-four percent of suppliers say their organization's product information system does not enable sales, supply chain, and IT teams to set up and exchange quality product content with trading partners through a single platform.
  • Suppliers aren't prepared to support compliance around the world: Two in five suppliers (41 percent) struggle to keep up with different regulatory standards across borders.
  • Global suppliers would rather pay fines than update systems to meet regulatory standards: Forty-one percent report it is more effective to pay penalties for noncompliance than invest in product information system updates that are compliant with new and changing regulations.

"Now is the time for suppliers to integrate cloud-based solutions that can foster end-to-end transparency," Wilkinson furthered. "This will not only drive customer loyalty and ensure regulatory compliance, but also better prepare suppliers to be successful in the evolving ecommerce landscape."

For more information on 1WorldSync's SmartLabel(TM) solutions click here. For more information on 1WorldSync's UDI solutions click here.

About 1WorldSync 
1WorldSync(TM) is the leading provider of product content solutions, enabling more than 25,000 global companies in over 60 countries to share authentic, trusted content with customers and consumers, empowering intelligent choices for purchases, wellness, and lifestyle decisions. Through its technology platform and expert services, 1WorldSync provides solutions that meet the diverse needs of the industry. 1WorldSync is the only product content network provider and GDSN Data Pool to achieve ISO Certification 27001. For more information, please visit www.1worldsync.com

Media Contact
Rachel Gulden
312-267-0530
rachel.gulden@walkersands.com




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: 1WorldSync via Globenewswire

Om NASDAQ OMX

NASDAQ OMX
NASDAQ OMX
One Liberty Plaza - 165 Broadway
NY 10006 New York

+1 212 401 8700http://www.nasdaqomx.com

NASDAQ OMX (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.

Følg saker fra NASDAQ OMX

Registrer deg med din epostadresse under for å få de nyeste sakene fra NASDAQ OMX på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra NASDAQ OMX

Brand Industrial Services Announces Agreement to Acquire Venko Groep BV16.8.2017 19:40Pressemelding

Complementary core strengths provide broader range of services for customers KENNESAW, GA, Aug. 16, 2017 (GLOBE NEWSWIRE) -- Brand Industrial Services, known as BrandSafway, has signed an agreement to acquire Venko Groep BV, a portfolio company of Mentha Capital. Venko will become a part of the Brand Energy & Infrastructure Services (Brand) group. "We are very pleased to announce the agreement with Venko," said Bill Hayes, President and CEO of BrandSafway. "Our combined customers in Europe will benefit from a broader range of solutions and greater depth of expertise in access, insulation and coatings. Bringing Venko's highly specialized knowledge in coatings to BrandSafway will provide the expertise we need to expand our services in the offshore market worldwide." Based in the Netherlands, with a focus on operations in the North Sea area, Venko is a leading offshore and onshore coatings maintenance provid

Abeona Therapeutics Announces Pivotal Expansion of ABO-102 Gene Therapy Clinical Trials in Sanfilippo Syndrome Type A16.8.2017 15:38Pressemelding

NEW YORK and CLEVELAND, Aug. 16, 2017 (GLOBE NEWSWIRE) -- Abeona Therapeutics Inc. (Nasdaq:ABEO), a leading clinical-stage biopharmaceutical company focused on developing novel gene therapies for life-threatening rare diseases, today announced the pivotal expansion of its gene therapy clinical trials for patients with MPS IIIA in the USA, Europe and Australia. "We have completed the necessary regulatory and ethical committee approvals and site initiations in Europe and Australia in order to accelerate enrollment," stated Juan Ruiz, M.D., Ph.D., Abeona's Chief Medical Officer. "We remain very encouraged by the improvements observed in clinically relevant biomarkers post-dosing of ABO-102, including durable reductions in heparan sulfate measured in the CNS, reduction of organ disease pathology, and signals of CNS improvement or stabilization at one-year follow-up in Cohort 1 subjects, and look forward to providing a more fulsome clinical update at important clinical

CallidusCloud Wins Eight Gold Stevies® in the 2017 International Business Awards16.8.2017 14:00Pressemelding

CallidusCloud Lead to Money suite recognized as Best B2B New Product of the Year. LeadRocket voted Best New Product or Service of the Year in the Software - Lead Generation Solution category. DUBLIN, Calif., Aug. 16, 2017 (GLOBE NEWSWIRE) -- Callidus Software Inc. (NASDAQ:CALD), a global leader in cloud-based sales, marketing, learning, and customer experience solutions, announced today that it was named the winner of eight Gold Stevie® awards in the 2017 International Business Awards. "The eight Stevie® awards earned highlight CallidusCloud's momentum, commitment to excellence, passion for innovation and customer orientation," said Leslie Stretch, president and CEO of CallidusCloud. "They also recognize the benefits that the Lead to Money suite, honored as the Best New Product in Business-to-Business, accrues to its customers in terms of enabling faster, bigger, and more profitable sales." CallidusCloud's Go

Ascom Myco and Koutio Médipôle optimize care communications and responsiveness16.8.2017 08:00Pressemelding

Ascom Holding AG / Ascom Myco and Koutio Médipôle optimize care communications and responsiveness . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement. Enabled by the Ascom Myco smart device, the new Koutio Médipôle is realizing improved care delivery through seamless information flow from the point of care to anywhere. BAAR, Switzerland, Aug. 16, 2017 (GLOBE NEWSWIRE) -- The new Koutio Médipôle hospital in the New Caledonian capital Nouméa, located in the southwest Pacific Ocean, has optimized patient care communications and responsiveness for the new 645-bed facility by deploying Ascom Myco Wi-Fi devices to support clinician teams and Ascom Myco Wi-Fi/GSM handsets, used across paramedic teams. The Ascom solution is seamlessly aligned with clinical workflow and applications (nurs

VistaJet Harnesses the Power of the American Eclipse to Offer Customers a Rare Viewing Opportunity15.8.2017 18:40Pressemelding

VistaJet invites customers to fly in parallel with an astronomical anomaly NEW YORK, Aug. 15, 2017 (GLOBE NEWSWIRE) -- VistaJet, the first and only global aviation company, will be offering customers the opportunity to experience and chase the American Solar Eclipse, appearing for the first time in 99 years on August 21, 2017. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/c0c41d7d-7ad9-4a46-9d2d-dcc1148b4772 The coast-to-coast National Eclipse and astronomical phenomenon will be visible in the United States from approximately 10:15AM PST, with the sun disappearing behind the moon from the Oregon coast, passing through 14 states to South Carolina.  Without being in this 70-mile strip, Americans will not be able to see the sun eclipsed in totality. With unparalleled experience flying into and out of the hardest to reach destinations, VistaJet is offer

NGX Bio Raises $3 Million to Fund Growth of Its DNA Sequencing Marketplace15.8.2017 17:00Pressemelding

SAN FRANCISCO, Aug. 15, 2017 (GLOBE NEWSWIRE) -- NGX Bio, Inc., (www.NGXbio.com) the premier marketplace for online DNA sequencing services, announced it has closed a $3 million funding round.  The round was led by 180 Degree Capital Corp. (NASDAQ:TURN) and included Third Kind Venture Capital, Lateral Capital, the Band of Angels and the Berkeley Angel Network, as well as other investors. NGX Bio was founded in 2014 to provide streamlined, on-line access to next-generation sequencing services for clients seeking high quality, rapid and cost-effective sequencing of both human and non-human samples globally.  Demand for sequencing services is growing exponentially.  NGX Bio's platform matches the sequencing needs of customers with providers who have available sequencing capacity.  Customers are able to purchase a wide range of sequencing services for their samples using NGX Bio's online ordering tools.  NGX Bio offers these services through numerous and deep relationships with its

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom