Today’s product developers face enormous pressure from rising competition, runaway inflation, rising ingredients and energy costs and shifting consumer preferences for healthier, more sustainable options.
Topping it all is an industry-wide labour shortage, making life more difficult for brands that often juggle multiple data sources to guide business decisions.
As such, growth-oriented brands, manufacturers and suppliers looking to diversify their supply chains need a consolidated view of global regulations.
Enter Regulatory Global, a new module within TraceGains’ Networked Ingredient Marketplace – the only platform of its kind.
The new offering – powered by AI-backed SGS Digicomply – is designed to help F&B companies mitigate risks inherent in breaking into international markets.
Together TraceGains and SGS Digicomply already provide crucial horizon scanning and other critical data, and this latest venture extends the partnership further to help organisations navigate global regulatory concerns.
Regulatory Global provides a central source of data for the myriad of international laws to help CPG professionals ensure compliance, freeing them up to focus on new product development, reformulation and customer expansion.
“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,” said Greg Heartman, TraceGains VP of Product Management.
“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.”
Fully integrated with TraceGains Gather, Regulatory Global makes sourcing materials and developing products for international distribution safer and faster, with coverage of over regulations across 237 countries, regions, and territories.
- With regulatory data from around the world, users can search for specific regulations using customisable filters, quickly identifying regulations about ingredients or materials of interest.
- Consolidated country guides provide global operators with the industry’s most comprehensive toolkit for country-specific market expansion in more than 160 jurisdictions.
- 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,” added Heartman.
TraceGains has spent the past 15 years ramping up its Networked Ingredients Marketplace to be the go-to source for 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.