January 8, 2015 | Salt Lake City, Utah – ReposiTrak, the leading provider of Compliance Management and Track & Trace solutions for food safety exclusively endorsed by FMI and ROFDA, announces record growth in new supplier implementations. This growth is attributable to several new upgrades that include centralized registration, allowing new suppliers to opt-in to any retailer or wholesaler program available on ReposiTrak, and the use of digital signature and optical character recognition (OCR), which makes both signing up and providing information to the system faster and easier.
“Being able to electronically sign customer-required documents eliminates 80% of the time spent during the document uploading process. Customers no longer have to open the document, download a hard copy, manually sign it, scan the signed copy and re-upload it,” said Kent Rice, Vice President of Professional Services, Park City Group. “In addition, the system can now scan document text using optical character recognition to confirm key values or words, such as the level of insurance coverage or date of expiration.”
Powered by Park City Group’s technology, the ReposiTrak platform helps manage regulatory, financial and brand risk associated with issues of food safety in the global food supply chain. The platform consists of two systems, the Compliance Management system, which not only receives, stores, and shares documentation, but also manages compliance through dashboards and alerts for missing or expired documents; and the Track & Trace system, which quickly identifies the supply chain path taken by a product in the unfortunate event of a product recall. It can reduce the risk in the supply chain by identifying backward chaining sources and forward chaining recipients of products in near real time.
“As we get closer to FSMA deadlines in August, we expect to see continued growth in the adoption of ReposiTrak as more executives become aware of both the increased requirements and increased personal responsibility for their supply chain’s compliance,” said Randall K. Fields, Chairman and CEO of Park City Group. “This responsibility and required action parallels what the industry experienced in 2002 with Sarbanes-Oxley.
About ReposiTrak
ReposiTrak, Inc. is a collaboration between Leavitt Partners and Park City Group. ReposiTrak provides food retailers and suppliers with a robust solution to help protect their brands and remain in compliance with rapidly evolving regulations in the Food Safety Modernization Act. Powered by Park City Group’s technology, ReposiTrak is an internet-based solution that enables all participants in the farm-to-table supply chain to easily manage records management and regulatory compliance. Additionally, ReposiTrak enables traceability as products and their ingredients move between trading partners. More information is available at www.repositrak.com.
About Park City Group
Park City Group (NASDAQ:PCYG) is a Software-as-a-Service (“SaaS”) provider that brings unique visibility to the consumer goods supply chain, delivering actionable information that ensures product is on the shelf when the consumer expects it to be. Park City Group’s services enable customers to “Sell More, Stock Less, and See Everything”. More information is available at www.parkcitygroup.com
Media Contact | Ronald Margulis | RAM Communications | +1 908.272.3930 | ron@rampr.com
