Who Controls Your Data?
How to leverage the benefits of creating a single source of truth for your brand assets
It is widely acknowledged that consumer product companies are increasingly challenged to deliver their brands to consumers due to several factors, including supply chain delays, increasing material costs, and staffing shortages. In this climate, the last thing a company needs to worry about is who is taking care of its brand assets and data.
Service providers and supply chain partners are not immune to these same business challenges and might not always be equipped, adept, or solvent enough to take care of their client’s brand assets. Additionally, brands that entrust all their assets to the exclusive care of their service partners will encounter barriers, delays, and limited choices if they need to change providers. That is why it is so important for companies to control and manage their brands with an independent and accessible platform.
The starting point for any company seeking to control and protect its data and brand assets is knowing where it is stored, structuring it so it’s useful, and creating a single source of truth so it can be used across all your business units with confidence.
Accurate, reliable, and accessible data is the starting point for successful brand assets. It is also the enabler of effective artificial intelligence (AI), promotional and pack-shot process automation, and the facilitation of tangible sustainability goals by eliminating waste and cost in materials and logistics.
This is the reality of brand and packaging execution across the industry:
- 45% of product launches are delayed
- 40% of food recalls are due to mislabeling
- 50% of drug recalls are due to mislabeling
- 22% of labels are written off due to non-compliance
While the benefits of having a solid data management strategy are apparent, it’s important to ask a simple question: “Who controls your data?” The unsettling answer for many companies is a variation of “I don’t know.”
Given the broad range of stakeholders and the multiple iterations it often takes to complete a project, it’s no surprise that companies struggle with the concept of data management. In many cases, accurate and approved data is only in the hands of the stakeholder or vendor that last touched the assets.
However, taking ownership and managing your data puts you in control and makes you nimble, flexible, and aware. Whether you’re making mandatory copy changes to products across multiple variants or creating new iterations of existing artwork, having control of your data lets you accomplish these tasks with ease and accuracy. It enables you to push the same approved copy used on your packaging directly to your eComm aggregator and gives you the confidence that the same nutrition facts, ingredients, and allergy statements on your physical packages match what is being sold on your digital storefronts. You’ll have a single source of truth that is easily captured and verified through a stringent and auditable approval process. Most importantly, you will have direct control of your assets and the flexibility to choose partners you trust to effectively execute your brand.
Controlling your data translates to:
- Increased profitability: Consider the additional revenue you would gain by bringing your new product to market on time. More so, what if you could increase the speed of production and get to market faster?
- Cost Reduction: Changes are inevitable. The deeper into the approval process that edits occur, the more they cost.
- Error reduction: Errors from bad data extend project timelines, drain valuable resources, and contribute to waste.
- Confidence in your branding: Harmonizing your digital and physical presence strengthens your brand continuity by creating a “Single Source of Truth” for all your products, regardless of the consumer touchpoint.
- Compliance: Regulated industries such as Pharma, Medical Devices, and Nutritional supplements require companies to verify packaging and collateral content, and data integrity is essential to achieving compliance.
- Agile change management: Change and uncertainty are inevitable in every industry today. When you control your
data, you can adapt to new conditions, explore new opportunities, and select the most reliable supply chain partners.
What can you do to control your data?
- Map out your process and stick to it: Evaluate your current state and verify your start and endpoints.
- Leverage technology: Choose a technology and service provider that will meet your needs now and in the future.
- Consolidate your data and assets: Choose an independent and secure method to store and manage your assets and content to gain total control and access.
- Create a single source of truth: Collect and store your data in one centralized platform to prevent inconsistent iterations from being used. Manage access and permissions for approved editors and reviewers only.
- Ensure your technology is bi-directional and compliant: Systems need to speak to each other to enable efficiency and accuracy.
If you’re struggling with digital transformation, you’re not alone. ManageArtworks has the technology, resources, and experience to assist you in controlling your data.
Our cloud-based packaging, copy and artwork lifecycle management systems connect people and processes across internal departments, customers, suppliers, agencies, and vendors to get products to the market faster while meeting regulatory compliance.
ManageArtworks is the foundation for your packaging and artwork requirements, delivering supply chain agility and compliance.
Contact us for more information to see how we can help you control your data.