Madison Reed has raised $32.1 million since launching 15 months ago.
Retailers already share business data with trading partners over the Internet. Now they can track transaction status in real time.
Cyclone Commerce, Inc., which provides trading delivery network software that enables the secure exchange of business data over the Internet between trading partners engaged in collaborative commerce, will launch an applications suite that allows business managers to monitor the status of those transactions in real time. It’s a departure from the system now in use at many companies that mines log files for such intelligence after the fact.
Transaction Director, the first application available, captures trading data on the fly to help businesses gain visibility into their supply chains so issues can be resolved as they occur rather than later, says the company. For example, the application can reconcile product shipments with purchase orders in real time.
The tool gives trading partners the ability to monitor transactions in process and allows them to identify problems – such as file corruptions that impede data flow, for example -- before business or revenue is lost, says Andy Gage, director of product management at Cyclone Commerce. “Our research shows that costs jump significantly with the length of time a transaction failure remains undetected and unresolved,” says Gage. He adds that Cyclone’s studies across several industry sectors show that without a software solution in place, companies’ efforts to manually identify a transaction problem average about 20 hours. “Now companies can locate and resolve transaction failures in real time,” he says.
Transaction Director can quickly find the status of a document such as a purchase order wherever it is in the collaborative process between trading partners, even as it’s transformed into various formats as it moves from front end through back-end systems, he adds. “With the same application, I can look at a Word, XML, and an EDI document,” Gage adds.
Gage says the application provides a packaged alternative to less-scalable custom solutions many companies have attempted to write internally to resolve the same transaction failure issues. Cyclone Commerce expects to release additional data management applications to support collaborative commerce later this year.