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New Version of Veridiem for Marketing Effectiveness Launched at ANA Marketing Accountability Forum

Posted on: Wednesday, 20 July 2005, 09:00 CDT

Industry's Only Enterprise Software and On-demand Service for Optimizing ROMI Delivers Performance and Usability Enhancements to Improve Mass-media Marketing Investments

Veridiem, a leader in marketing effectiveness software, announced today a new version of Veridiem 2 (version 2.3) designed to accelerate the time it takes marketers to optimize the return on mass-media marketing investments. Veridiem 2.3 features enhanced system performance, visibility into marketing data, ease of use, and partner collaboration. The new version announcement and product demonstration were made at the ANA Marketing Accountability Forum, which Veridiem co-sponsored (Grand Hyatt Hotel).

"Marketers are feeling the do-more-with-less squeeze, and the industry is quickly moving from talking about marketing accountability to deploying software solutions that address the improved performance of every marketing dollar invested," said Ken Nicolson, president and CEO of Veridiem. "Veridiem was the industry's first enterprise software to help marketers continuously track, measure, and reallocate mass-media marketing investments to optimize marketing performance," continued Nicolson, "Our experience at leading CPG and automotive companies has driven Veridiem 2.3 with enhancements that raise the bar on ROMI (return on marketing investment) tools that can be used to realize upwards to a 15% lift in marketing investment performance."

The demand for marketing accountability is echoed industry wide and acknowledged by leading industry research firms as well. Dr. Kimberly Collins, research vice president with Gartner Research reported, "Marketing organizations are under increased pressure to become more accountable and to increase visibility of marketing programs and their impact. Only a relatively small percentage of the marketing budget is used for targeted marketing campaigns, compared to the budget for branding, advertising, and operations. Applying principles of measurement and analysis to the broader marketing function is appealing to more companies trying to improve overall marketing accountability." (Marketing Analytics Reaches Beyond Database Marketers, April 27, 2005).

Single Platform for Marketing Investment Management

A best-practices marketing ROI solution, Veridiem 2.3 integrates and harmonizes marketing data on a real-time basis from a variety of sources including internal, agency and syndicated providers. Using these data, Veridiem 2 delivers a range of marketing analysis and performance management capabilities such as marketing-mix modeling, marketing investment simulations, and guided analyses for briefing books and executive summaries. These tools help marketers rationalize marketing strategies and tactics that improve key business metrics.

Delivered as an enterprise-wide solution or a secure, hosted service, Veridiem 2.3 provides enhanced usability, system performance, and collaboration capabilities for faster time-to-insight and improved marketing accountability across the organization. Veridiem 2.3 is designed so that marketing analytic capabilities can be used by CMOs, brand managers, media planners, advertising managers, marketing operations directors and all the external parties and third-party agencies with whom they work. New Veridiem 2.3 features include:

-- Enhanced Dashboards and Executive Summary Views with live links improve visibility across brand portfolios, enable cross-brand management, and help marketers to continuously monitor KPIs. The role-based security system delivers the right information to the right person.

-- Event-triggered Model Updates automatically refresh reports when data sources or models are updated to deliver accurate and timely information, and enable marketers to leverage the full potential of their existing models.

-- Email Collaboration uses email to share and publish marketing investment insights among marketing teams.

-- Configuration Tools enable and facilitate partner relationships with syndicated data providers and external agencies. Based on open-standards technologies, Veridiem links to widely-used modeling and analytic tools such as SAS and SPSS.

-- Cluster Environment Support extends open architecture and system scalability to support multi-vendor environments that include leading technologies from IBM and Hewlett-Packard.

About Veridiem Inc.

Veridiem Inc., a leading provider of marketing effectiveness software, enables Global 1000 companies to increase revenues and brand equity by optimizing their return on marketing investments. The Company's flagship software Veridiem 2 empowers marketers for the first time to link sales results to the marketing investments that drove them; quickly identify what's working, what's not, and what will work better. Veridiem 2 transforms marketing information into intelligence so marketers can continuously measure the contribution of their investments, drive better business decisions, and achieve a higher return from marketing investments. Veridiem customers are leaders in automotive and consumer package goods industries. Founded in 1998, Veridiem is located outside of Boston, MA at One Clock Tower Place, Maynard, MA 01754. Tel: 978.823.7100; Fax: 978.823.7101; Email: info@veridiem.com. URL: www.veridiem.com.

Veridiem is a registered trademark and Veridiem Analytics Platform, Veridiem Performance Analyzer, and Veridiem Marketing Simulator are trademarks of Veridiem Inc. All other product and company names mentioned are the property of their respective owners.

Source: Business Wire

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