VELOSEL DELIVERS THE FIRST WORLDWIDE RETAIL EXCHANGE AUTHORIZED SUPPLY AND DEMAND-SIDE COLLABORATIVE PRODUCT INFORMATION MANAGEMENT SOLUTION

WWRE and Velosel Spearhead Key Industry Drive Toward Global Data Synchronization; Velosel5 CPIM Platform Provides Complete Interoperability with the WWRE’s WorldSYNC Data Exchange Solution

SANTA CLARA, Calif.--Oct. 12, 2004--Velosel Corp., the leading provider of collaborative product information management (CPIM) software, today announced that the WorldWide Retail Exchange (WWRE), the premier business-to-business exchange for retailers and suppliers, has authorized the Velosel5 CPIM platform as the industry’s first supply and demand-side solution to interoperate with the WWRE’s WorldSYNC data exchange solution. The Velosel5 platform enables consumer goods manufacturers and retailers to cut costs, deliver products to market more effectively, and improve customer service by creating, managing, and synchronizing dynamic product information across the supply chain. Velosel became a WWRE WorldSYNC partner earlier this year; today Velosel5 is fully compatible with WorldSYNC for both retailers and supplier/manufacturers.

“The WWRE and its partners are committed to developing solutions that streamline the management and maintenance of product information, enabling customers to more effectively adopt data synchronization, and enhance collaboration with their trading partners on a global basis,” said Pete Plotas, director of strategic alliances of the WWRE. “Being part of the WorldSYNC partner program and delivering the first supply and demand-side solution that is fully compatible with the WWRE’s data exchange solution, Velosel is enabling its customers and the WWRE community to benefit greatly from industry efforts to support global data synchronization.”

A complete content management system and synchronization engine based on global standards, the WWRE WorldSYNC solution provides retailers and suppliers with a single point of entry to the global network, as well as connection to the WWRE’s direct member directory. WorldSYNC is a comprehensive service to its manufacturer and retailer users, and ensures that critical issues such data quality, connectivity to internal systems, and the ability to synchronize price, complex price, and promotional data are enabled.

The Velosel5 WorldSYNC-compatible solution allows companies to quickly implement and synchronize accurate, high-quality data from both supply and demand sources; the result is increased sales through faster new item introductions, improved inventory control, and fewer invoice deductions. The WWRE certification also extends Velosel’s ability to provide manufacturers and retailers with a single point of access to WWRE trading partner product information and connection to the WWRE Global Registry, improves synchronization of extended “relationship dependent” data, and reduces data discrepancy among trading partners.

“Solving the inaccurate data problem that impacts the retail and CPG industry is of utmost importance to the WWRE and Velosel. The WWRE certification for Velosel5 marks a milestone in the industry’s drive for globally recognized standards for data synchronization,” said Russ Henry, senior vice president of marketing for Velosel. “This achievement demonstrates Velosel’s commitment to helping retailers and their suppliers derive more value from their product information, improve business efficiencies, and lower costs throughout the supply network.”

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