Channel IQ, a provider of online pricing intelligence and channel management solutions, announced that the company's industry proven technology platform is now publicly available to manufacturers and retailers looking to gain visibility into online pricing.
With more than 60 brand name manufacturing and retailing customers using its technology to protect their brands and track competitors, Channel IQ said it provides customers visibility into online channels, allowing them to understand their business and competition, monitor and manage online pricing, and maintain credibility with consumers.
The company, which recently closed a Series A funding round at the end of last year, is also announcing appointments to its board of directors and the expansion of its management team to support the company's rapid growth.
"With every conceivable product being sold online through multiple levels of distribution, it is a serious challenge for manufacturers to track today's dynamic pricing environment online. In fact, consumers have much more visibility into online pricing with the many applications out there than the brand owners and retailers do," said Wes Shepherd, Channel IQ founder and CEO. "We've gathered the best team of channel management, manufacturing, business intelligence, and technology experts to create the business critical data and cutting edge tools needed to monitor and manage online product pricing and presentation, tighten up sales channels, and make sure products reach consumers with the integrity top brands demand."
According to a release, Channel IQ's dynamic data collection and applications enable manufacturers and retailers across every conceivable industry, from consumer electronics and housewares to luxury goods and auto parts, to track product prices in real-time, monitor for minimum advertised price (MAP) pricing policy compliance, and detect grey market sellers and counterfeit activity. Channel IQ's new standard of online price monitoring also provides visibility into competitors' products, new seller opportunities, and key industry trends to help customers make more informed and profitable business decisions.
"Our relationship with Channel IQ has proven to be highly successful in a short period of time. Their strategic overview and tactical, daily monitoring of Internet pricing provide us with the critical information that has improved the Wusthof Knives brand in the marketplace," said Todd Myers, vice president of sales at Wusthof. "They have given us the technology edge we so desperately needed."
Concurrent with the product announcement, Channel IQ is appointing Jim Streibich, a co-founder of Market Track, as the company's chairman of the board of directors. Art Roldan, a Chicago technology entrepreneur with seven successful acquisitions, also joins the board as director.
"Web commerce is too important for manufacturers to not have the proper tools and services in place to know who is selling their products and under what conditions. While a small brick and mortar retailer misrepresenting a brand might have minimal and regional impact on sales, an e-tailer is viewable to any consumer who searches a product online," said Streibich. "Any company concerned with product pricing, counterfeiting, logo usage or any other factor that could impact overall sales and product image, needs an integrated and action-driven solution like Channel IQ."
Channel IQ noted that its management team, which has worked on all sides of channel management, retail software systems, retail intelligence, supply chain optimization, and retail e-commerce for decades, also expanded to meet the company's rapid growth. Channel IQ announced the additions of Dean Bravos as vice president of sales and marketing, Dan Czerwinski as vice president of engineering, Tom Mersch as general counsel, Farrah Davis as the senior manager of client services, and Ruth Hickey as director of project management.
More information:
www.channeliq.com
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