TIBCO Software Inc., a business integration and process management software company, added a data management software to its product portfolio when it acquired Velosel Corporation’s technology.
This move bolsters TIBCO’s software solutions for consumer goods manufacturers, wholesale distribution and retailers, and enables the management of master data within the enterprise and across the supply chain.
Forrester Research reported that TIBCO’s takeover of Velosel stemmed from “an increasing need to manage product master data at a strategic level within the enterprise” and that many retailers and consumer goods manufacturers “desire a platform that supports product master data management and product-centric process integration.”
TIBCO will now be able to offer a single master data management platform that is business process-centric, provides real-time integration of information with enterprise systems, and supports cross-enterprise collaboration initiatives.
“We are excited about TIBCO’s move into the product information and master data management space,” said Troy Witt, manager of customer capability development at Clorox. “It addresses critical needs for monitoring, processing and synchronizing data more effectively, which further enhances our collaboration with customers and ultimately translates into cost-savings throughout the supply chain.”
Ram Menon, senior vice president of worldwide marketing at TIBCO commented that “Velosel is a recognized leader in the PIM market with an impressive list of marquee customers.”