And why it’s the right way to manage your information in today’s real-time economy
Unless you’ve spent the past two years meditating in the desert, you know the drastic changes occurring to the companies and consumers who buy their products and services. And many of these things—like supply chain challenges, rapid shifts in shopper behavior, and the massive growth in online shopping, all are pieces connected to a much larger story—the explosion of information available to manage the business of products and services.
The industry is moving so quickly now that changes to data and content happen on a daily basis, across millions of data points. It’s no longer effective to manage information—whether it’s customer and location data, or product attributes and images, or shipping information—in standalone databases or spreadsheets.
In today’s real-time economy, businesses are feeling the real-dollar effects of poor data quality. Gartner estimated that companies lose more than $14 million a year in revenue due to bad data. IBM estimated the market loss to be along the lines of $3 trillion.
That’s not something to be ignored.
Now, it’s not that companies are careless with information, or don’t have data governance policies. It’s simply that there is so much information that changes constantly, and moves across so many points, that it becomes difficult to manage. Businesses today do compile, manage, and distribute their data and content; however it exists across multiple disparate tools, which causes tremendous inefficiency and risks to quality and completeness—ultimately impacting sales.
A More Connected Approach
At Syndigo, we have had a different approach: We have worked with both sides of the industry to understand the intrinsic needs of manufacturers and brands, as well as with distributors, retailers and other recipients of information. This way, we can approach the industry holistically.
And we have been working with these clients on both sides, who have told us about the inefficiency in their processes that not only wasted time and money but also resulted in a breakdown in data accuracy. They have been asking for an easier way.
In order for data and content to continuously flow freely, intelligently and efficiently throughout multiple systems, a fully integrated, comprehensive engine is needed. And Syndigo is that Active Content Engine, built to power modern commerce by enabling the continual flow of data and content throughout the entire commerce ecosystem.
As The Active Content Engine, Syndigo represents the most complete and efficient approach to powering commerce more effectively for our clients and the industry. We improve decision-making and accelerate sales on every shelf by quickly delivering accurate information. Simply put, products move when content flows.
How does it work? Rather than having to work with multiple vendors or systems across data governance, supply chain content, brand assets, eCommerce and analytics, you can access them all with Syndigo. Now you’re able to control all content and data flows, harness data growth, continuously optimize data—and get everything you need, including Master Data Management (MDM), Product Information Management (PIM), syndication, analytics capabilities, and more.
For manufacturers, suppliers and brands, we can help to ensure that content is created and managed effectively so that it gets to the recipients, in the format needed. Plus, this content can connect back to a “golden record” internally for ultimate Master Data Management. For retailers and other recipients, they can help brands comply to standards more easily, with workflows to help onboard new items, with additional eCommerce capabilities for Enhanced Content and analytics. And both manufacturers and recipients can leverage the largest two-sided global network to collaborate effectively and kick their sales into high gear.
To help showcase our approach, you may have noticed that we unveiled a refreshed brand identity. This new identity will reinforce the importance of a continual flow of data, as Syndigo, the Active Content Engine drives the data accuracy, time-to-market, and scale that companies are looking for.
With more industries embracing digital transformation to manage business effectively, Syndigo clients are well-positioned for today and in the future, as digital transformation continues to expand the scale and scope of information available. Welcome to the Active Content Engine!