Aug 05, 2022True Pedigree, a technology company that helps brands protect their margins and revenues from counterfeit and gray-market products, has announced the launch of GenuScan, its new platform designed to let users determine the provenance, destination and legitimacy of goods by scanning them via a smartphone. The secure, cloud-powered platform analyzes products—either via its label, RFID technology or a Near Field Communication (NFC) tag—and determines whether or not it is genuine.
The company is focused on supply chain integrity, particularly in the high-technology, automotive, consumer electronics, lifestyle accessories and pharmaceutical sectors. Its brand-protection, product-security and anti-counterfeit teams work with businesses to protect their brands and the bottom line.
The GenuScan platform allows brand owners, retailers, auditors, consumers and law-enforcement personnel to identify counterfeit and gray-market (illegally resold) items. Such products are a massive drain on the economy, the company explains, 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, as well as cause considerable fiscal impact.
True Pedigree describes GenuScan as "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." The solution is customizable to work for any user, the company reports, from retail employees to manufacturers, auditors or law-enforcement officials. GenuScan is designed to enable companies to take proactive steps to mitigate risk before illicit products can be deployed in the market.
"Protecting IP is a cat-and-mouse game because counterfeiters and gray-market operators move quickly and are good at covering their tracks," said Shelley Raina, True Pedigree's CEO. "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."