USA- The world’s only networked ingredients marketplace, TraceGains, has introduced a new future to its ingredient platform to help multinational brands navigate mitigate risks inherent in breaking into international markets.
“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.
Known as Regulatory Global, the data add-on will address this challenge by providing a central source of data for more than 200,000 international laws giving.
This is expected to give food manufacturers and ingredient suppliers a consolidated view of global regulations whenever they need to develop new product, formulate existing ones, or expand into new markets.
The tool boasts of having customizable filters allowing users to quickly identify regulations about ingredients or materials of interest.
Additionally, consolidated country guides within the platform provide global operators with country-specific regulatory data, allowing for market expansion in more than 160 jurisdictions.
Fully integrated with TraceGains Gather, Regulatory Global also 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.
The tool also offers environmental, social, and corporate governance (ESG) guidance, enabling companies to pursuing initiatives in this space to also comply with laid down specifications.
This new module is going to be powered by SGS Digicomply, an authoritative data source for global regulatory data, providing crucial horizon scanning and helping organizations navigate global regulatory concerns.
“By combining our data and expertise with TraceGains’ compliance and innovation solutions, together, we can deliver unmatched business intelligence tools that will help customers make better decisions and manage their risks” Global Head of SGS Digicomply Nicola Colombo explained.
TraceGains is a strategic supply chain partner in the food industry, seamlessly connecting businesses with partners through a networked marketplace, enhancing the farm-to-fork journey of billions of ingredients globally.
Today, TraceGains provides a platform for brands to collaborate on 425,000 ingredients from more than 55,000 supplier locations, creating greater agility, resilience, and sustainability.
Prior to Regulatory Global, TraceGains introduced Networked Intelligence Solution in 2022, a tool that automatically flags impending ingredient shortages, potential safety recalls, and other risks amid continued supply chain disruption.