Strong Demand Drives TraceGains European expansion

TraceGains expands SaaS solutions to revolutionise the food and beverage supply chain.

WESTMINSTER, Colo., Jan. 11, 2023 /PRNewswire/ -- TraceGains, home of the world's only Networked Ingredients Marketplace, continues to expand its overseas operations to stay ahead of growing demand.

While Brexit hampered the free movement of goods between the United Kingdom and the European Union, the pandemic and rising energy costs cut into European stocks. While some pressures have eased for now, grocery and restaurant food prices remain at levels not seen in 40 years and the UK suffers food shortages not seen since the 1970s.

These market conditions have fueled the demand for new solutions. And TraceGains has responded with an expanded footprint in the UK and the EU.

"TraceGains offers revolutionary solutions, at a much-needed time, that will change how the industry operates," TraceGains Senior Account Executive Dan McGlynn said. "We eliminate the obstacles to data exchange and facilitate collaboration to transform the supply chain."

Most recently, three UK companies – Key Ingredients Ltd., Finlay Beverages, and George Weston Foods Ltd. – signed onto TraceGains in 2022.

TraceGains Networked Ingredients Marketplace provides access to a global ingredient data network that enables manufacturers, co-manufacturers, suppliers, and retailers to collaborate easily. The network continues to gain momentum, with more than 55,000 supplier locations across 163 countries, over 425,000 ingredients and a growing library of more than 3 million documents. This robust network supports brands worldwide by cutting sourcing and approval time in half, accelerating time to market by 75%, and eliminating sourcing backlog by 85%. 

"The EU and UK markets offer the best use case yet for TraceGains," CEO Gary Nowacki explained. "We believe these trying markets conditions have held brands hostage for too long. We want to support brand compliance efforts and introduce these brands to new markets by helping them navigate entry into the United States and beyond."

TraceGains is revolutionising the supply chain agility through an innovative Networked Ingredients Marketplace. The ability for businesses to seamlessly connect with partners through a networked marketplace is essential for collaborating to solve today's unprecedented supply chain challenges. Information about ingredients and supply chain partners flows instantly using intelligence and automation. Our patented PostOnce™ technology allows authorised stakeholders to share and receive vital information, precisely when, where, and how they need to operate efficiently and remain competitive. Through the power of a global network, supply chain agility is achievable.

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