Chicago, IL November 20, 2002 In an initiative to better control trade spends and deductions, Garden City, New York-based Hain Celestial Group has selected the 9ci iTradeVision solution together with Silvon Software's Stratum application for Marketing Performance Management.
The two software providers said they are going to integrate their respective applications into a single solution for managing Hain Celestial's trade funds and deductions. Illinois-based 9ci Inc. offers a Web-based solution to handle industry-specific cash application issues, deduction tracking, analysis and resolution, collections management, and trade fund management and analysis applications. Silvon Software provides enterprise performance management applications for manufacturing, wholesale distribution and retail enterprises.
"After an extensive evaluation period and detailed analysis of expected [return on investment], we felt that the integrated 9ci-Silvon solution provided the strongest offering for addressing our trade spends and deduction management initiatives," said Michael Calderon, vice president of IT of Hain Celestial Group. "The integrated operational and analytical solution that they are providing to Hain Celestial will help our corporate watchdogs and decision makers assess and act on our spends and deductions with much greater accuracy and timeliness than before."
"We are seeing more consumer goods companies strategically address the areas of trade funds and deductions in an effort to reduce marketing costs and increase return on investment during today's tougher economic climate," said Michael Hennel, president and CEO of Silvon Software. "It's a pleasure for us to have the opportunity to work together with 9ci and with Hain Celestial in their progressive move to manage overall performance of their trade marketing programs in order to improve profitability and deliver higher customer service levels across their supply chain."
The Hain Celestial Group Inc. is a natural, specialty and snack food company with $413 million in revenue. The company produces such well-known natural food brands as Celestial Seasonings teas.
