TraceGains

TraceGains operates a networked platform designed to streamline supply chain management for the food, beverage, and consumer packaged goods (CPG) industries. The company was co-founded in 2008 by CEO Gary Nowacki, who identified a critical need to digitize the cumbersome and fragmented exchange of information within the supply chain. Before establishing TraceGains, Nowacki accumulated 30 years of experience in the enterprise resource planning (ERP) and supply chain software sectors, holding various executive positions and focusing on process industries like food and beverage. This background provided him with deep insight into the operational pains of the industry, which were traditionally handled through inefficient methods like faxes and emails.

The company's business model is centered on a Software-as-a-Service (SaaS) subscription, providing clients with a suite of solutions to manage compliance, quality, and product development. Revenue is generated through these subscriptions, with an estimated annual revenue of $25.7 million. TraceGains serves a diverse customer base that includes food manufacturers, ingredient suppliers, retailers, and CPG brands, such as Organic Valley, JBS USA, and McKee Foods. The company has established a significant network, with over 1,200 customers, 70,000 supplier locations, and more than 500,000 searchable ingredients. In October 2024, TraceGains was acquired by Veralto.

The core of TraceGains' offering is its networked marketplace, which connects manufacturers and suppliers to facilitate collaboration and data exchange. This platform approach moves beyond traditional one-to-one communication, creating a many-to-many ecosystem where a supplier can post a document once for all their customers to access. Key modules include Supplier Management for qualifying suppliers and managing documentation, Quality Management for maintaining compliance with standards like FSMA and GFSI, and Audit Management. The platform also features solutions for new product development, allowing R&D teams to source ingredients, manage formulas, and accelerate time-to-market. A unique selling point is the network effect; on average, a new customer finds that 80% of its suppliers are already on the platform, enabling immediate collaboration. The platform also incorporates AI for intelligent document processing, automates workflows, and provides horizon scanning for potential supply chain risks.

Keywords: supply chain management, food and beverage industry, CPG, compliance software, SaaS, quality management, product development, supplier relationship management, regulatory compliance, ingredient sourcing, food safety, networked marketplace, document management, FSMA, GFSI, supply chain collaboration, formula management, specification management, audit management, supply chain risk