Business insights

Authenticity, Traceability and Transparency to the fullest

Authenticity, Traceability and Transparency to the fullest

Fincons, Nextome and Traent join forces to create an innovative solution for the manufacturing sector that is adaptable to a range of different products and market needs.

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About the solution: Digital Product Passport

The name product passport is self-explanatory: it is a solution made to collect all information related to a certain product, from manufacturing details to the product journey to more client-related details such as warranty, maintenance and usage, when applicable, in a single place. 

The Product Passport is a truly flexible solution that can meet a range of market needs, such as:

  • Improving supply chain transparency
  • Safeguarding product authenticity 
  • Providing Origin traceability
  • Supporting risk assessment and management
  • Bolstering sustainability reporting, compliance and certification

All-in-one: Product Passport can support every stage of the product’s lifecycle

The Product Passport is a truly vertical solution, developed to meet the needs of different sectors but also of different stages of the product’s lifecycle. This digital passport can be populated with a wide range of product-related information, such as details about the material supply chain, the product’s journey from plant to sale, maintenance, authenticity, product origin and so on. All this data can be easily verified, made accessible or hidden from end users who can, alternatively, fully customize their experience and add their own information and details to enrich the product overview. 

B2B2C and client relationships

When it comes to B2B2C, maintaining a relationship with the final client can be difficult, especially when the product manufactured is durable or belongs to the luxury goods category and therefore does not need to be frequently replaced.
A solution like the Product Passport can help companies create and retain long-lasting customer relationships, enabling loyalty programs through warranty extensions or by allowing the end user to register maintenance, issues or replacements, for example.

Specifically, the Product Passport allows manufacturers and resellers to engage with customers in a more personal and disintermediated way, creating a new customer journey touchpoint and developing the client relationship long into the product lifecycle. 

In addition, all information related to product origin and transit can be analysed to assess carbon footprint and used to support ESG claims, keeping track of the whole supply-chain. 

The sky is the limit: a truly customisable solution

The Product Passport is a fully customisable solution, developed to adapt to different sectors, from manufacturing to fashion, food, furniture, beauty & care, luxury goods, and automotive.  In addition to enabling product journey monitoring and confirming the product’s origins the Product Passport offers an extremely important validating feature for the safeguarding and promotion of Made in Italy craftsmanship, for example. 

At the same time, each manufacturer can choose how to use this innovative solution to create a truly unique product experience that changes based on what their interests and goals are. This means that the Product Passport could enable the combination of a specific playlist with the product that reinforces brand messages and user experience.

The Product Passport also enables customised insight access levels: depending on how much and what information is integrated in the product passport, different players in the supply chain, and even the client themselves, will access different levels of information.

Strength in numbers: the power of collaboration

The Product Passport is enabled by Fincons’ Open Innovation Platform that was created to promote the open integration of innovative technologies and is constantly growing, offering Fincons’ clients new solutions that can be easily selected, purchased and installed.

The Open Innovation platform gives Fincons’ clients access to a whole range of products and solutions, that can be quickly and easily mixed and matched to meet their demands and create truly personalised solutions. 

The Product Passport was developed within this framework in partnership between Fincons, Nextome and Traent. In this partnership, Traent is in charge of the block chain technology that manages and verifies all information, Nextome provides tracking technologies such as NFC, RFID and GPS, while Fincons is the system integrator that provides the platform for client use.

Contact us to find out more about Fincons’ Innovation Platform and solutions such as the Product Passport!

Lorenzo Macchi - Fincons Group Lorenzo Macchi

Fincons Group

Global BU Manufacturing General Manager, Director of Competence Center SAP