SOURCE: Profitect

Profitect

January 18, 2016 07:55 ET

Profitect Enables Retailers to Improve Margins and Customer Satisfaction With New Omnichannel Module

WALTHAM, MA--(Marketwired - January 18, 2016) - Profitect, the leading provider of prescriptive analytics for the retail industry, announced the release of its Omnichannel module at NRF Big Show 2016 (booth #1663). It enables retailers to gain visibility into their omnichannel execution and identify opportunities for margin improvement. 

With the new Omnichannel module, retailers are able to improve customer satisfaction and reduce the overall cost to serve. Omnichannel success is dependent upon ensuring inventory accuracy is properly aligned for each location based on vendor and customer behavior. With 60% of consumers saying they want to know if an item is in stock before they go to the store(1) and 80% of retailers planning to ship and fulfill from stores(2), it will be critical to improve their execution. 

The Omnichannel module identifies the impact a customer's shipping preferences has on margins and how that affects the overall cost of service. It also enables retailers to match aged inventory with customer purchasing preferences, protecting margin, and moving inventory. Additionally, leveraging the new module's sentiment analysis, retailers will gain additional insight into consumer behavior around buy on-line pick up in store (BOPUS), ship from store, returns, and overall customer satisfaction in order to maximize profits.

"With the Omnichannel module, retailers can create a seamless shopping experience allowing customers to buy anything, from anywhere, at any time," said Guy Yehiav, CEO, Profitect. "Retailers are trying to find more efficient ways to serve their customers, while keeping costs down and margins high. Our new Omnichannel module will do just that, ensuring the right products are available, in the right stores, for the right customer, reducing returns and excess shipping cost."

About Profitect

Profitect is the leading provider of prescriptive analytics. Profitect offers a suite of solutions to help retailers easily understand and act on their data. These actions replace traditional reporting to ensure improved sales and profitability. Profitect is headquartered in Waltham MA. 

(1) IBM commerce (IBM Institute of Business Value) "2015 Omni-channel Order Fulfillment"

(2) RIS News, "25th Annual Retail Technology Study"

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