Transora gets accountants’ certification of item and price management
Transora, an Internet trading exchange for manufacturers and retailers, sees the security certification as a way to build its market for value-added services like price management among customers of its data synchronization services.
Following an audit by Big Four accounting firm Ernst & Young, Transora was the first retail industry data pool to receive SysTrust certification of its item, price and promotion management services. Data pools like Transora use a combination of automated electronic and manual methods to synchronize trading partners’ product data to support the sharing of information.
SysTrust, using criteria established by the American Institute of CPAs and the Canadian Institute of Chartered Accountants, certifies that a trading system "operates without material error, fault, or failure during a specified time in a specified environment under four essential principles." The four principles identified in the SysTrust certification include availability, security, processing integrity, and confidentiality.
Because some trading partners may hesitate to share sensitive information like pricing over the Internet, the SysTrust certification is expected to make trading partners more confident about using Transora’s services, says Transora CEO Judy Sprieser.
"Security is essential and Transora can safely assure that our confidential pricing information will not be shared with competitors or other unauthorized parties," said Mark Froseth, senior vice president of information systems at Kraft Foods.
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