Strategic partnership is formed as Master Data Management grows in importance to create a customer experience based on insights.
HOUSTON, TX – October 30, 2018 – Avensia, international experts in digital commerce solutions, and Riversand, a cloud-native Master Data Management (MDM) and Product Information Management (PIM) provider, are proud to announce a strategic partnership to help organizations to create actionable insight from their data, to facilitate conversions in digital commerce and increase sales.
‘The partnership with Riversand amplifies the joint opportunity we have in the market helping organizations to digitalize their business, making use of their multitude of data sources, increasing revenue and creating a competitive edge,’ said Niklas Johnsson, CEO at Avensia.
‘Avensia brings to the table what our clients in Northern Europe need to win in today’s digital market: superior, deep expertise in MDM and PIM. And most importantly, driving business outcomes with data’, said Upen Varanasi, CEO at Riversand.
Data and business value
The amount of data collected is growing in all industries at an exponential rate and companies that leverage this fact will have a competitive advantage. But in order to capitalize on this resource, organizations are required to have a stringent data strategy that decides how data will be managed, governed and analyzed, and a system in place to transform data into information.
The main function of an MDM system is to gather data from a multitude of systems (ERP, CRM, web etc.) and standardize it, turning data into information. Raw data is turned into structured data in real- time, using rules and artificial intelligence – serving the organization with information as a foundation to base decisions on.
Using structured data in digital commerce is a huge opportunity for companies to enhance insights and customer experience when interacting in all channels (online and offline) with a customer. The multitude of variables, the significance of these, as well as their influence on a purchase decision will interact in the MDM system creating a 360 view of the customer. In practice this means increased relevance of the products offered to customers, leading to an enhanced customer experience, optimized conversion, and increased sales.
‘At Avensia we are proud to announce this strategic partnership with Riversand. To us, Riversand constitutes the next era of Data Driven Business and will add great value to all our customers that have an ambition to enhance customer experience, increase conversion and accelerate sales’, said Henrik Påhlsson, Business Area Manager for Information Management at Avensia.
The strategic value of this partnership will benefit customers, as they will get so many aspects of digitalization of commerce covered: Avensia brings strategic advisory services as well as technical implementation, and Riversand brings the innovative and cloud-native platform for managing master data.
‘This partnership offers the benefits of both advanced cloud technology for data management and business consulting for transformation of digital business models and processes’, said Ben Rund, VP of Business Development, Europe at Riversand. ‘We are really looking forward to working with Avensia as a key partner in Northern Europe.’
Avensia and Riversand are already engaged in several projects in the Nordics, one of which is a project delivering an MDM solution for one of Sweden’s largest retailers. The objective for the management of data is to connect multiple data sources to bridge the gap between existing data from multiple systems, achieve congruence, and turning data into information. These components are needed to reach a system setup with one single source of truth for Information management, and to enable a true omnichannel solution for a seamless customer experience.
Avensia is a leading international digital commerce expert company that helps both B2C and B2B companies to be successful in the world of unified commerce. Our mission is to provide maximum value to customers by delivering innovative and optimized digital solutions. Avensia’s over 200 experts provides strategic advisory services, development of award-winning digital commerce solutions as well as on-going value realization services. In addition, the Avensia Storefront product range is available through a global reseller network. Headquartered in Lund, Avensia also has offices in Helsingborg, Gothenburg, Stockholm, Oslo, Copenhagen, Chicago and Cebu (Philippines). Avensia AB is publicly listed on Nasdaq First North under the name AVEN. Read more at www.avensia.com.
Riversand cloud-native master data management solutions are designed to support customers’ digital transformation journeys through improved business agility, faster adoption and improved collaboration across the enterprise. Riversand has a vision of helping companies know their customers better, move products faster, automate processes, mitigate risk and run their businesses smarter. Our customers, partners and analysts recognize us as a trusted partner, visionary and a leader. Visit Riversand.com for more information and follow us @RiversandMDM on Twitter and Riversand on LinkedIn.