Product News: Retail & Sales Equipment, Software
Security SaaS helps fight spread of counterfeit electronics.
Press Release Summary:
February 20, 2014 - Providing serialization, traceability, and authentication, cloud-based Verify Platform helps protect brand owners and consumers from counterfeit consumer electronics. Program can be used for complete chain-of-custody tracking, creating alerts on suspicious events for investigators and complete item histories for security conscious customers. Platform catalogs every event to provide complete enterprise reporting. All information is available 24/7 through secure websites and mobile apps.
Original Press Release
Verify Platform Helps Fight Spread of Counterfeit Consumer Electronics
Press release date: February 12, 2014
Serialization, traceability and authentication software can strengthen supply chain security and enable consumers to verify products as genuine
MINNEAPOLIS — Verify Brand, LLC, a Minneapolis-based software as a service (Saas) brand-protection company, recently released new enhancements to its cloud-based software platform to help protect brand owners and their consumers from the rising tide of counterfeit consumer electronics. The enhancements help manage the massive number of events being tracked across major electronics manufacturer’s supply chains while also supporting the rapidly growing number of consumer authentication requests. These capabilities further bolster the ability of brand owners to pinpoint fake products throughout the supply chain and strengthen consumer confidence in a genuine product.
“Counterfeit consumer electronics have become incredibly widespread and they can have a major impact on a company’s financial health, whether that’s from increased competition or damaged brand integrity. But, more importantly, they can create health and safety issues for consumers,” said Mark Prokosch, vice president of Verify Brand. “At the same time, high-profile incidents of stolen customer data are making consumers increasingly protective of their personal information. They need assurances that the devices and IT system they entrust with their information – from tablets to enterprise systems – are built with authentic parts and free of malware or spyware that could be inserted in the supply chain.”
Fake versions of popular consumer electronics and accessories – including wireless speakers, headphones, tablets and mobile device cases – continue to flood the market. U.S. customs officials confiscated more than $104 million in fake consumer electronics in 2012. Last year, in a one-month joint operation between the U.S. and China, more than 243,000 counterfeit electronics were confiscated, including knock-offs of popular brands such as Apple, Samsung and Blackberry. Also last year, a leading U.S. electronics brand launched a takeback program for USB power adapters following reports of people being shocked by counterfeit or third-party adapters.
Consumer electronics brand owners can use the Verify Platform for complete chain-of-custody tracking – creating alerts on suspicious events for investigators and complete item histories for security conscious customers. The Verify Platform catalogs every event to provide complete enterprise reporting. All of this information is available around the clock through secure websites and mobile apps, helping brand owners stop counterfeiting and diversion more quickly.
About Verify Brand, LLC
Brands, manufactures and distributors use Verify Brand’s cloud-based software solutions to create supply chain security and protect their brand. Verify Brand’s secure solutions and mobile apps enable global product authentication and traceability by leveraging data and analytics on uniquely identified items. Our solutions and services are helping to secure millions of products in more than 100 countries around the world. For more information, visit www.verifybrand.com.