Riversand is pleased to announce the newest release of our cloud-native suite of Master Data Management solutions. Helping organizations create a data and analytics foundation to drive successful digital transformation was the driving factor behind Riversand’s decision to completely rethink and rebuild a master data platform that would meet the future needs of the digital era. According to Riversand CEO & Founder Upen Varanasi, “We knew we had to make an aggressive move to envision a new kind of data platform that was capable of handling the forces shaping our industry.” Katie Fabiszak, Riversand Global Vice President of Marketing, sat down with Upen to talk about Riversand’s vision of the future and how the bold decisions he had made several years ago led to the company’s own transformational journey and a new MDM solution:
KF: Where do you think the market is heading?
UV: Well, we are truly in the digital era. The markets are rewarding companies that are leaders in this digital landscape. This is forcing all companies to truly embrace digital transformation. A key aspect of this transformation is the role of data. Data is the new “fuel” of digital transformation. What matters is how enterprises can leverage data and unlock its power to create better and faster business outcomes. Turning data into insights is a key factor. Another important aspect is to understand the complexities of the information supply chain. Simplifying the flow of data is critical to drive better and faster business outcomes. Let’s take an example from the retail/CPG space: Enterprises want to better understand their customers (utilizing customer insights through AI), create/sell products and services that meet and exceed customer expectations (product positioning through AI), meet their customers across all touch points (channel management), secure their customer’s information (privacy), and interact with trading partners to creating cutting edge product differentiation (cloud and AI).
KF: Why did Riversand decide to shift gears and embark on what became a 2+ year transformational journey for the company?
UV: At Riversand, we understood the need to envision a new kind of platform to handle the trends occurring in our industry. We focused on creating a data-driven multi-domain Master Data Management System that has the following properties:
- A contextual master data modeling environment.
- A platform that can handle scale, velocity and variety of data, built to handle master data as well as transaction and interaction data.
- Embedded AI to drive better insights and outcomes.
- Built on cloud, with the ability to integrate data and processes across hybrid clouds.
- A highly business-friendly user experience.
- Apps built on the platform that can solve the “final mile” problem for business users. PIM and customer domain solutions are each apps built on this same platform.
Our goal was to create a platform and solutions that can be quick to implement, provide insights and recommended actions to business users, and automates many of the more mundane data management and stewardship functions. We believe we can provide Enterprises with the critical capabilities from the Master Data Management and Product Information Management space to differentiate themselves in the marketplace.
KF: What are the core values of Riversand?
UV: Our core values are innovation, commitment & integrity. We have consistently strived to bring leading edge innovation to the market. We have dared to step back at times in order to take a bigger leap forward. What helps is that we have had a long-term view of our company and the industry we play in. We have been in business for 18 years and have been committed to this space and to our customers all along the way. Integrity in everything we do is key in dealing with our stakeholders – employees, customers and partners – and has been our focus since inception. We might not get things right all the time to begin with, but we will always make it right with our stakeholders over time.
KF: What do you see as Riversand’s biggest strength?
UV: Our people, our passion for this space and our long-term thinking give us an incredible edge against our competition. We are blessed to have a team who have shaped this company over many years and who are invested deeply in the company and this market space.
KF: What would you say sets Riversand apart? How is our technology and approach different than the other MDM and PIM vendors in the market?
UV: The path we have chosen provides clear benefits for our customers with respect to our competition. Some key points of differentiation are:
- We provide a single platform to help implement MDM and PIM initiatives. No need to create further silos of data and processes.
- We future-proof both business users and IT users with a platform that is flexible and future enabled.
- We are built for the cloud and SaaS eras: Upgrades are easy and done by us, and customers can scale with pay as you go models.
- Our AI engine is built on a big data stack to drive insights and actions for better business outcomes.
- With our big data technology stack, enterprises have the ability to scale with data and handle both its variety and velocity.
- A completely new and extremely business friendly user interface and experience that people love to use!
- The app building toolkit (SDK) to help customers and partners build their own apps so that they can solve their final mile problems: This is in addition to the core apps we are actively building.
KF: Where is Riversand today along this journey that we began over 2 years ago?
UV: Our new solutions were introduced as a kind of soft launch with a select few customers over the past year. The feedback and insights we received during this year were extremely useful in becoming enterprise-ready. We are now in a position to launch our platform to the broader market. Over the next two quarters, we will be further enhancing our offerings including: the analytics/AI platform, app SDK for partners and customers, launching additional SaaS appsnd entering additional vertical markets. We also look forward to creating robust partner ecosystems for these vertical markets.
KF: What’s next for Riversand – what do you envision for the future?
UV: We are really excited about the potential of our new master data platform and we look forward to working with our current customers as well as new customers to help them with their digital transformation journey. We are disruptors in our space and we will continue to establish ourselves as a larger, bolder and leading global brand.
We hope you enjoyed the interview! You can check out additional information by reading the press announcement here.