Press Release Summary:
Available as hosted and on-premise offering, Edge Dynamics v3.5 delivers enterprise- class solution for financial compliance, which includes comprehensive and auditable channel system of record and channel policy audit capability. Features include repository for storing and managing all EDI documents involved in channel management, audits as per operational requirements mandated by SOX, SEC, and FASB, and support for pre-built integration with third-party BI tools.
Original Press Release:
Edge Dynamics Announces Release 3.5 of Channel Commerce Management Solution
Available as Both Hosted and On-premise Offerings, Edge Dynamics 3.5 Delivers the Industry's Only Enterprise-Class Solution for Financial Compliance
REDWOOD CITY, Calif., Aug. 7 / - Edge Dynamics, the leading provider of channel commerce management (CCM) solutions for life sciences, today announced the general availability of Edge Dynamics 3.5. Release 3.5, available as both hosted and on-premise offerings, delivers an enterprise- class solution for financial compliance, which includes the industry's only comprehensive and auditable channel system of record and the first channel policy audit capability. This new release also provides pre-built integration support for third-party business intelligence tools, as well as numerous enhancements that make the solution easier to deploy and use.
Edge Dynamics' powerful CCM solutions ensure that life sciences manufacturers can easily and more effectively collaborate with channel partners, manage trade agreements, gain inventory visibility, control products moving through channels, and comply with increasingly stringent federal regulations. Edge Dynamics' CCM solutions now manage more than $100 billion in annual revenues for leading pharmaceutical manufacturers.
"Financial compliance is increasingly critical in today's regulatory environment," said John Jacko, director of IT at Daiichi Sankyo, one of the first customers for Edge Dynamics 3.5. "Edge Dynamics has already established itself as a leader in channel commerce management, but release 3.5 further raises the bar by providing a comprehensive and auditable system of record for channel data that can help us demonstrate we made the right decisions for the right reasons every time."
Release 3.5 expands on the already powerful capabilities of Edge Dynamics' hosted and on-premise channel commerce management solutions. New features include:
o First comprehensive and auditable channel system of record - Edge
Dynamics 3.5 includes the first and only enterprise-class repository for
storing and managing all EDI documents involved in channel management,
including current and emerging standards. This repository can also
include a variety of other valuable enterprise data from areas such as
orders and production, shipping and logistics, and forecasts. The
solution receives, validates, and transforms data to enable informed
business decisions, including managing the performance of fee-for-
service agreements. It also automatically records transaction-level
decisions and their justifications in a single location for easy access
o First Sarbanes-Oxley (SOX) - and Security and Exchange Commission
(SEC) -compliant channel management capability - Edge Dynamics 3.5
facilitates audits of operational requirements mandated by SOX, SEC and
Financial Accounting Standards Board (FASB), and enables auditable
testing of stringent SOX 404 security and access control requirements.
Pre-built reports streamline audit compliance across order management,
policy changes, scorecarding, and data management and make it easer to
comply with FASB policies such as revenue recognition; government
pricing requirements; and SEC reporting milestones such as 10-K, 8-K and
o First solution to support pre-built integration with third-party
business intelligence (BI) tools - Edge Dynamics 3.5 uniquely supports
standards-based integration with leading BI tools such as Excel, Cognos,
Business Objects, and Hyperion to enable analysis of channel trends.
The new channel system of record capabilities in Release 3.5 address a key area of need faced by many companies today by greatly enhancing their ability to meet increasing financial compliance requirements. According to a recent study published by industry analyst firm IDC, end users are learning from their experiences in the first two years of SOX compliance, and they are increasingly aware of the opportunity to automate key business processes and leverage common data sets and components. IDC also believes that the upcoming amendments to the Federal Rules on Civil Procedure for Electronic Discovery underscore the need for organizations to "get their records and information house in order." Further, a recent study by Deloitte & Touche LLP estimates that 85% of compliance controls are still manually tested and compiled for reporting purposes. This lack of automation not only results in higher costs for adhering to regulations, but also in greater business risk because companies will not be able to see anomalies until it's too late.
"With Edge Dynamics 3.5, we are setting a new standard for channel commerce management, by addressing the critical issue of financial compliance and continuing to enhance business performance and collaboration for all channel participants," said Henry Olson, chief products officer at Edge Dynamics. "Customers such as Bristol-Myers Squibb and Purdue Pharma will benefit from having access to an enterprise-class solution built on our unique patent-pending technology platform that has been proven in deployment with many of the leading life sciences manufacturers."
Industry Thought Leaders Embrace Edge Dynamics 3.5
John D'Urso, Managing Partner, Life Sciences, BusinessEdge Solutions - "Edge has a proven track record for delivering an enterprise-class solution to improve operations performance for leading pharmaceutical manufacturers. Release 3.5 adds critical new capabilities in the area of financial compliance that ultimately help companies make better decisions and more effectively manage risk. We are excited to be partnering with Edge to achieve continued success with our joint customers."
Hussain Mooraj, Research Director, Life Science, AMR Research - "Compliance in the pharmaceutical industry is best achieved if it is part of an organization's operational excellence strategy and addressed through a confluence of business process and technology. Edge Dynamics' new release will help life sciences companies take a bold new step in this direction, along with providing better demand visibility and management."
Pricing and Availability
Edge Dynamics 3.5 includes the CCM platform; the CCM application; a comprehensive set of modules including Order Compliance Automation, Downstream Channel Management, Forecast Gap Control, Chargeback Reconciliation, Returns Reconciliation, Vendor Managed Inventory, New Product Introductions, Continuous Channel Scorecarding, Product Tracking and CCM Analytics. Edge Dynamics 3.5 is now available for the Windows, Solaris, and Linux operating systems; pricing is on a per-server basis.
Edge Dynamics' hosted CCM services are available as a monthly subscription without requiring any upfront investment in hardware or software. For more information, please contact a sales representative at (866) 737-EDGE, send an email to firstname.lastname@example.org, or visit www.edgedynamics.com.
About Edge Dynamics
Edge Dynamics is the pioneer and leading provider of channel commerce management (CCM) solutions to the life sciences industry. Edge Dynamics uniquely provides a full range of on-premise, hosted and hybrid solutions that enable manufacturers to optimize their transaction stream processing to address critical business challenges in the areas of operations performance, regulatory compliance, and brand integrity. Deployed at leading pharmaceutical manufacturers, the Edge Dynamics solution currently optimizes more than $100 billion in annual channel revenues. Edge Dynamics has offices in Redwood City, Calif. and Philadelphia, Pa. For more information, visit www.edgedynamics.com, send email to email@example.com, or call (866) 737-EDGE.
Source: Edge Dynamics
Web site: www.edgedynamics.com/