TIBCO Software Inc. (NASDAQ: TIBX), a leading business integration and process management software company that enables real-time business, today announced that it has added master data management software to its product portfolio with its recent acquisition of Velosel Corporation's technology. This strategic move bolsters TIBCO's software solutions for consumer goods manufacturers, wholesale distribution and retailers, and enables the effective management of critical master data within the enterprise and across the supply chain.
In a recent report, which commented on TIBCO's technology acquisition, Forrester Research wrote they have "witnessed an increasing need to manage product master data at a strategic level within the enterprise" and that many retailers and consumer goods manufacturers "desire a platform that supports product master data management and product-centric process integration." TIBCO has responded to these customer requirements with the acquisition of Velosel's technology and core team to offer a single master data management platform that is business process-centric, provides real-time integration of information with enterprise systems, and supports cross-enterprise collaboration initiatives.
Velosel's technology has been successfully implemented by leading retailers and consumer goods manufacturers to support product information management (PIM) including automation of key processes for new product introductions, internal data alignment and Global Data Synchronization.
"Clorox needed a complete solution to consistently and accurately manage our product data to enable our strategic vision and alignment to Global Data Synchronization," said Troy Witt, manager of Customer Capability Development at Clorox. "We are excited about TIBCO's move into the product information and master data management space. It addresses critical needs for monitoring, processing and synchronizing data more effectively, which further enhances our collaboration with customers and ultimately translates into cost-savings throughout the supply chain."
Master data management is a strategic component of TIBCO's industry-leading supply chain optimization and RFID offerings (refer to TIBCO's July 25, 2005 RFID Interchange announcement). TIBCO defines a unique and comprehensive approach with out-of-the box information management processes and flexible data modeling capabilities. In addition to helping TIBCO customers gain competitive advantage, this new approach provides real-time access to accurate product information; enables the removal of value chain inefficiencies by eradicating duplications and errors in product and related information and by automating the processes required to maintain this dynamic information; and provides an ordered framework for the people, processes and systems that impact product information, both internally and amongst trading partners
"The genesis of this acquisition was feedback from our existing customers, many of whom were requesting a best-of-breed solution for accessing and exchanging product information with their trading partners in real-time," said Ram Menon, senior vice president, Worldwide Marketing, TIBCO Software.
"Velosel is a recognized leader in the PIM market with an impressive list of marquee customers. Their business process-based approach to information management is an ideal complement to TIBCO's product offerings and addresses the needs of multiple vertical industries."