Tibersoft Introduces Enhanced TiberNet IQ B2B DW Solution

Tibersoft Corporation Inc, a leading provider of customized B2B trading network solutions for the foodservice, paper and maintenance supply industries, introduced a newly-enhanced version of TiberNet IQ, the industry's first Web-centric data warehousing solution designed to help large buying organizations and buying/selling groups gain accurate, timely insight into their system-wide purchasing data. TiberNet IQ's new breakthrough cross-referencing capability enables users to identify, match, aggregate and analyze item purchase data from myriad sources, each with different numbering/naming conventions. The announcement was made at the annual National Restaurant Association trade show here at McCormick Place.

"Our TiberNet IQ analytic suite provides an elegant and proven solution to the long standing cross-referencing problem in the foodservice industry using industry standard datawarehousing technologies coupled with a powerful, Web-centric self-service tool," said Chris Martin, president and co-founder of Tibersoft. "Our newly enhanced version of TiberNet IQ ensures data accuracy and helps users better analyze and control purchasing across their systems."

Unlike their counterparts in the retail food industry, in foodservice there is inconsistent support of the use of UPC (Universal Product Code) numbers to identify products. This creates a problem both for large buying organizations and buying/selling groups. They cannot easily answer such simple questions as, "How many bottles of premium brand ketchup did I purchase across my system?" Compounded across hundreds of products and multiple distributors serving a multi-unit chain, for example, this inability to track product purchases accurately across the system presents a major business problem for users. Since product pricing and rebate programs in foodservice are heavily dependent on purchase volumes, without the accurate and timely insight into system-wide purchasing data many buyers and sellers are at a big disadvantage. TiberNet IQ provides a product code solution for both today and tomorrow, providing cross-referencing and customized linking today and forward, as the industry evolves to broad UPC use.

TiberNet IQ supports linking for both items and units, with built-in intelligent learning algorithms that provide more automation and better match suggestions each time. The rules-based report distribution capabilities enable users to share key purchase data in an easy-to-use, secure environment. TiberNet IQ, together with the recently-announced TiberNet Buyer solution, enables operators to quickly and easily procure, receive, reconcile, pay and analyze purchasing history--providing measurable ROI to the operator through increased procurement efficiency, reduced costs, increased productivity and maximized return on purchasing power. According to industry analyst reports, implementing B2B e-commerce can help the average foodservice operation lower procurement costs by 20 percent.

The cross referencing of foodservice item numbers has been attempted by several vendors as well as group selling organizations in the past--with mixed results. TiberNet IQ has the ability to enable the people who know the business to perform the cross-referencing over the Web, as opposed to an unwieldy, centralized third-party vendor approach that is difficult and costly to implement. Tibersoft's data warehousing solution lets the user community with actual knowledge of the product perform the cross referencing and resolve any product-related issues.

TiberNet's core B2B technologies include the TiberNet IQ analytic suite, order management (TiberNet Commerce), procurement management (TiberNet Buyer) and content management (TiberNet Content). In addition, through its exclusive partnership with I-many Inc, a leader in contract management and trade relationship management solutions, Tibersoft and I-many provide a single solution for the contract management and purchasing needs of the entire foodservice market, including manufacturers, distributors, sales agencies and operators. The I-many-Tibersoft partnership enables foodservice companies to maximize the creation, implementation and ongoing management of their thousands of trade contracts.

TiberNet IQ is available immediately.

About Tibersoft Corporation

Tibersoft Corporation Inc is a leading network and tools provider for electronic trade in the foodservice, paper, and maintenance supply industries. Founded in 1996, Tibersoft provides the vision, software, network and supply chain experience for operators, distributors and manufacturers to compete in today's competitive business environment. Tibersoft's TiberNet suite is the first complete trading network offering the foodservice, paper and maintenance supply chains everything they need to increase efficiency, reduce costs, enhance service, improve margins, extend brands online and sustain long-term customer relationships. Tibersoft is a privately held company headquartered in Westborough, MA, with venture capital backing from StarVest Partners, Internet Capital Group and others. Tibersoft is on the Web at www.tibersoft.com.

Contact The Launch Company, Nabby Dunne, 978-369-2100, adunne@launchcompany.com.