Traceability software supplier iTAC Software AG is expecting new growth with the addition of SAP Ventures to its list of technology investors.
With the goal of growing businesses, and backed by the resources of inter-enterprise software company SAP, SAP Ventures invests in companies offering new breakthrough technologies and applications. Since 1996, the company has invested in more than 50 direct equity deals.
iTAC's rapid worldwide growth and its platform-independent traceability products, which allow companies in the automotive, electronics and medical engineering markets to avoid expensive recall actions, were important factors in SAP Ventures' investment decision.
"With increasing internationalization and globally distributed production and manufacturing, traceability will become a crucial issue. The outstanding position of iTAC in this market is what fueled our decision to participate in this promising company," said Paul Jozefak, investment director at SAP Ventures, in a statement.
Utilizing iTAC's traceability software, discrete manufacturers gain control and documentation of dynamic production processes for complex products, which allows the companies to comply with legal traceability requirements, reduce costs by preventing recalls and gain quality advantages.
The company's easy works product provides complete transparency of manufacturing processes over the Internet or intranet, thus allowing for its use across multiple plants located in different parts of the world.
And, since easy works provides traceability for each product unit by serial number, this transparency extends to customers and suppliers for complete real-time supply chain visibility.
This article was repurposed from the June 2005 edition of Managing Automation magazine.