True Pedigree, a data-driven technology company dedicated to helping brands protect their margins and revenues from counterfeit and gray market products, today announced the launch of GenuScan™, a powerful new platform that lets users determine the provenance, destination, and legitimacy of products by scanning them via a smartphone. A secure, cloud-powered platform lets GenuScan analyze the products — be it through its label, RFID, or even NFC tag — and determine if it is genuine or not.
Counterfeit and gray-market (illegally resold) products are a massive drain on the economy, and are expected to reach close to $3 trillion this year. Products sold through the gray market can dilute brand integrity, slow distribution pipelines, and upset pricing models across entire industries, all on top of their considerable fiscal impact. GenuScan solves the mystery of product authenticity in the marketplace with a simple smartphone scan.
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“Protecting IP is a cat-and-mouse game because counterfeiters and gray-market operators move quickly and are good at covering their tracks,” says Shelley Raina, CEO of True Pedigree. “Every product out there features multiple data points including serial number, SKU, date or place of origin, and every step along a delivery pipeline provides specific information about a product. Most of this data goes untapped, but GenuScan uses this information to instantly verify any product’s legitimacy while providing invaluable analytics and KPIs through a customizable dashboard.”
GenuScan is an intuitive front-end technology-agnostic platform that leverages the wealth of printed or digital information on any product to determine its origin and authenticity. It is fully customizable to work for any user from a retail employee, manufacturer auditor, or law enforcement official. GenuScan makes protecting brand identity and revenue faster and simpler than ever before, allowing companies to take proactive steps to mitigate risk before illicit products are deployed in the market.
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