Mr. Padmakumar Nair, CEO and co-founder of Ennoventure Inc.
In today’s technology-driven era, countering counterfeiting has become a complex challenge. As businesses shift towards digital platforms, the demand for effective brand protection solutions has become critical. In 2024, the growing threat of forgery requires a proactive approach, utilizing state-of-the-art technology-based anti-counterfeit solutions. Software as a Service (SaaS) emerges as a valuable ally, providing adaptable tools to tackle the increasing presence of counterfeit products.
Authenticity holds a key role in navigating the intricate landscape of international trade. The effectiveness of anti-counterfeit SaaS surpasses a mere solution; it embodies a dedication to upholding integrity, promoting transparency, safeguarding consumer trust, and ensuring continual genuine innovation in the digital era, where counterfeiting poses a challenge to every transaction. The emergence of anti-counterfeit software as a service trend in 2024 highlights a dedication to preserving the legitimacy of goods in the digital realm. Ennoventure Inc.’s development of these covert brand protection solutions promises a robust defense against illicit practices while adeptly adapting to the evolving counterfeit challenges.
This urgency is reinforced by a joint report by CRISIL and the Authentication Solution Providers’ Association (ASPA), which presents statistics. Almost 25-30% of all products sold in the country are counterfeit, particularly affecting sectors like apparel, fast-moving consumer goods (FMCG), pharmaceuticals, automotive, and consumer durables. These findings emphasize the seriousness of the issue, reinforcing the need for proactive measures to address the pervasive problem of counterfeit goods.’’