NZ Business - - SNIPPETS -

even the smaller sup­pli­ers and re­tail­ers to ef­fec­tively col­lect, man­age and share their data,” says Charles Ni­col­son, Ves­taCen­tral CEO. “Our in­vest­ment in R& D is un­lock­ing new ver­ti­cals in New Zealand and Aus­tralia as ‘bricks and mor­tar’ stores rush to move their in­ven­tory on­line and sup­pli­ers meet new global stan­dards for data qual­ity.”

Ini­tially de­vel­oped for tim­ber and build­ing ma­te­ri­als, Ves­taCen­tral is be­ing in­tro­duced in in­dus­tries from FMCG and recre­ational sports to cos­met­ics and phar­ma­ceu­ti­cals. The plat­form has al­ready man­aged over one mil­lion SKUs worth of data from 1000 sup­pli­ers.

Global stan­dards body GS1 and many in­ter­na­tional mar­ket­places are ad­vo­cat­ing for the adop­tion of a sin­gle, con­sis­tent data stan­dard to re­duce the costs and de­lays that arise from poor qual­ity data. In­con­sis­tent de­scrip­tions of a phys­i­cal prod­uct and its ‘dig­i­tal twin’ in an e-com­merce store leads to poor cus­tomer ex­pe­ri­ence, ex­tra costs to rec­on­cile and poses risks to prod­uct safety. For ex­am­ple, com­mer­cial driv­ers re­ly­ing on the on­line in­for­ma­tion about a prod­uct’s weight may in­ad­ver­tently over­load their ve­hi­cle if this dif­fers from the real weight of the phys­i­cal prod­uct.

VESTA-CEN­TRAL, a cloud-based prod­uct data shar­ing plat­form for SMEs, has won a Cal­laghan In­no­va­tion R&D Growth Grant of up to $15 mil­lion over three years to im­prove the qual­ity of the data that un­der­pins e-com­merce.

The plat­form de­tects and re­moves er­rors from prod­uct data and makes it eas­ier to share, cre­at­ing sup­ply chain ef­fi­cien­cies across an en­tire in­dus­try.

The Al­bany com­pany is tar­get­ing emerg­ing tech­nolo­gies like blockchain and AI to pre­vent data du­pli­ca­tion and er­rors in data be­tween trad­ing part­ners. This ben­e­fits sup­pli­ers with a wide prod­uct range and those who must com­ply with sev­eral dif­fer­ent cus­tomer data stan­dards, while of­fer­ing re­tail­ers a sin­gle source of truth for their prod­uct in­for­ma­tion.

The plat­form au­to­mates mov­ing the prod­ucts of a tra­di­tional bricks and mor­tar store on­line, ‘stock­ing’ the dig­i­tal shelves with the prod­uct pic­tures, pric­ing, de­scrip­tions and con­sumer in­for­ma­tion sourced di­rectly from sup­pli­ers.

Vesta-Cen­tral makes this process faster and more ac­cu­rate than us­ing spread­sheets and man­ual data en­try, with cus­tomers say­ing they’ve re­duced the time spent fill­ing their on­line shelves from 52 weeks to just a few hours a week over six weeks.

“High qual­ity, er­ror free prod­uct data is a source of com­pet­i­tive ad­van­tage in the dig­i­tal econ­omy and Vesta-Cen­tral en­ables


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