New capabilities help overworked professionals retake control of global supply chain risk by complying with in-country operating guidelines and managing regulatory requirements in 200 markets
WESTMINSTER, Colo., Feb. 22, 2023 /PRNewswire/ — TraceGains, the world’s only networked ingredients marketplace, has announced Regulatory Global, a new module for its Networked Ingredient Marketplace that enables food, beverage, and dietary supplement companies to mitigate risks inherent in breaking into international markets. Regulatory Global provides a central source of data for more than 200,000 international laws to help overworked CPG professionals ensure compliance, freeing them up to focus on new product development, reformulation, and customer expansion.
SGS Digicomply, the authoritative data source for global regulatory data, powers TraceGains Regulatory Global. Together, TraceGains and SGS Digicomply already provide crucial horizon scanning and other critical data, and this latest venture extends the partnership further to help organizations navigate global regulatory concerns.
Today’s food, beverage, and dietary supplement professionals labor under immense pressure from rising competition, inflationary pressures, and shifting consumer preferences for healthier, more sustainable food and beverage options. Labor shortages make life more difficult for brands, which struggle to do more with less, often juggling multiple data sources to guide business decisions. Growth-oriented brands, manufacturers, and suppliers looking to diversify their supply chains need a consolidated view of global regulations.
“Navigating regulations across multiple jurisdictions is an increasingly difficult task, even in a single market. For those businesses operating, exporting or importing globally, the responsibility and complexity increase exponentially,” TraceGains VP of Product Management Greg Heartman explained. “We created Regulatory Global to be an indispensable tool for international businesses amid an increasingly crowded marketplace and growing global demand for ESG-related compliance.”
Automated compliance with growing global regulations
Fully integrated with TraceGains Gather, Regulatory Global makes sourcing materials and developing products for international distribution safer and faster, with coverage of more than 200,000 regulations across 237 countries, regions, and territories. Features include:
- Customizable filters – With regulatory data from around the world, users can search for specific regulations using highly customizable filters, quickly identifying regulations about ingredients or materials of interest.
- Consolidated country guides – Consolidated country guides provide global operators with the industry’s most comprehensive toolkit for country-specific market expansion in more than 160 jurisdictions.
- ESG guidance – Companies pursuing ESG initiatives can access global regulations as they emerge, enabling market leadership and competitive advantage in the emerging ESG arena.
“By combining the unparalleled global reach and insight of SGS Digicomply with the unique ability of TraceGains to make ingredient-level data relevant and contextual, we’ve created a powerful tool that increases ingredient agility and helps users build a better global supply chain,” Heartman added. “Together, we will continue pushing the boundaries of our marketplace.”
Over the last 15 years, TraceGains has designed its Networked Ingredients Marketplace to be the one source of truth that enables global brands to gain control over compliance and product development. Today, brands collaborate on 425,000 ingredients from more than 55,000 supplier locations, creating greater agility, resilience, and sustainability.
TraceGains Regulatory Global is available as a data add-on to TraceGains Enterprise Suite.
For a larger discussion on achieving compliance objectives, tune in for TraceGains’ webinar in partnership with SGS Digicomply on March 23 at 10 am MST, A Proactive Guide to Conquering Global Compliance.
For more information on TraceGains Regulatory Global, visit tracegains.com.
About TraceGains
TraceGains is revolutionizing supply chain agility for global consumer goods companies through an innovative Networked Ingredients Marketplace. The ability for businesses to seamlessly connect with partners through a networked marketplace is essential for collaborating to solve today’s unprecedented supply chain challenges. Information about ingredients and supply chain partners flows instantly using intelligence and automation. Our patented PostOnce™ technology allows authorized stakeholders to share and receive vital information, precisely when, where, and how they need to operate efficiently and remain competitive. Through the power of a global network, supply chain agility is achievable.
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SOURCE TraceGains