GXS acquires on-demand product data services company UDEX
GXS, major provider of web-based b2b services that help retailers share synchronized product data with suppliers, has expanded its data services with the acquisition of U.K.-based UDEX, whose Internet on-demand system is designed to eliminate errors in product data records, GXS said today.
UDEX serves nearly 2,000 retailers and suppliers with an on-demand system that assures that both retailers and their trading partners have accurate and up-to-date product data. “Global retailers have underscored the importance of data quality as a key enabler to global data synchronization and improved agility within supply chain processes,” says GXS CEO Gary Greenfield. “UDEX has been at the forefront of addressing the data quality issue with retailers and their suppliers. UDEX’s services represent a valuable addition to our data synchronization capabilities and will greatly enhance our ability to provide our customers with a comprehensive set of data quality solutions.”
Studies have shown that 72% of supplier items contain inaccurate product information at a consumer unit level, and 57% are inaccurate at the ordering unit level, leading to product out-of-stocks, inaccurate invoices, late deliveries and increases in the number of products returned by consumers, GXS says
GXS plans to make the UDEX data quality application a part of its Data Pool Manager, which supports multiple country data pools that let retailers and suppliers exchange product data.
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