New service from gicom to aid collaboration between retailers and CPGs
Software company gicom has announced a new solution aimed at helping private label retailers and CPG companies automate their agreement lifecycle processes. The company says that the machine-learning powered application helps CPGs and retailers mitigate redundancies and reduce common communication errors in the agreement processes between business partners.
The system allows retailers and their partners to coordinate agreements via a completely digitized process that automatically stores all data and documents related to the deal on a cloud-based platform. Now, both parties can collaborate on the agreement simultaneously, providing a “single source of truth” that improves the speed of agreements by reducing potential inefficiencies. The data related to the agreement can be seamlessly transferred to any enterprise resource planning system, making collaborations easier.
“With true collaboration comes opportunities for growth, flexibility and success, the collaboration solution is designed to help both retailers and consumer goods supplier simplify the agreement lifecycle process,” said Hans-Jakob Reuter, a member of the executive board, gicom. “But it doesn’t stop there. Once the partnership is established the collaboration solution can help retailers test scenarios within the parameters of the agreement to discover new opportunities to improve profitability.”
The 100% digitized approach to agreement lifecycle management has other benefits as well, according to gicom, including minimizing unforeseen risks between business partners through increased transparency uncovering competitive advantages by strengthening agreements, reducing the time and money spent detecting and solving problems in manually transmitted agreements and more.