CUPERTINO, CA--(Marketwired - Jul 26, 2016) - Ricoh Innovations Corporation ("RIC"), a Silicon Valley-headquartered subsidiary of Ricoh Company, Ltd. that creates global new businesses based on advanced information technology, today announced the signing of a global reseller agreement with SAP (NYSE: SAP). As part of the agreement, SAP will resell the RIC image recognition platform as the SAP® Hybris® Cloud for Customer, imaging intelligence add-on, which is available now. The solution is designed to enable consumer packaged goods (CPG) customers using the retail execution functionality in the SAP Hybris Cloud for Customer solution to derive a better understanding of in-store conditions to help drive sales, improve merchandising and shelf placement, and provide deeper insights for key business decisions.
The combination of SAP Hybris Cloud for Customer and RIC's image recognition platform helps field representatives to quickly and easily capture and analyze images of store shelves, which can be used to drive better in-store shelf execution. The potential benefits include correct shelf placement for each product, reduced out-of-stock situations, a more consistent brand experience and insights on optimizing the shelf for greater sales. The result of the RIC partnership with SAP is a solution designed to enable data-driven selling and a deeper, timelier understanding of store conditions for CPG staff managing category management, trade promotions and space planning, among others.
Dr. Nikhil Balram, CEO of RIC, stated, "Through the use of our image recognition platform, SAP's solution gives companies the ability to compare the real-world conditions in the store to their desired merchandising configuration and quickly make changes that drive improvement in sales. We are pleased to partner with SAP to bring this cutting-edge solution to the CPG and retail space."
"RIC image recognition technology is an excellent complement to the retail execution functionality in SAP Hybris Cloud for Customer," said E.J. Kenney, senior vice president and global head of Consumer Products, SAP. "Giving sales representatives and merchandisers the ability to capture images in-store on their mobile devices and sync up the data with SAP Hybris Cloud for Customer helps automate and validate product distribution and planogram compliance to help ensure consistent execution in retail accounts."
According to Gartner*, "Consumer goods manufacturers looking for a quick and easy way to check in-store conditions should consider how capturing digital images could lead to significantly greater compliance monitoring and richer insights that can inform their assortment planning and customer-specific shopper marketing programs. The main business benefits can come from the ease with which space-planning planograms can be compliance-audited quickly, allowing corrective actions to be taken simply by capturing a digital picture and processing it. There is also substantial business benefit to be derived from negotiating with the traditional trade."
RIC's image recognition platform is an extension of the award-winning Ocutag mobile visual search platform launched by RIC's Visual Services and Solutions business in April 2013. The Ocutag platform and its extensions are protected by over 100 patents granted or pending worldwide.
* Gartner, Inc., Hype Cycle for Consumer Goods, 2015, Don Scheibenreif, Dale Hagemeyer, July 15, 2015.
| About Ricoh Innovations Corporation |
Headquartered in California's Silicon Valley with a subsidiary in Bangalore, India, Ricoh Innovations Corporation ("RIC") creates global new businesses based on advanced information technology for Ricoh Company, Ltd. Founded as Ricoh Innovations, Inc. in 1997 as a subsidiary of Ricoh and expanded to Ricoh Innovations Corporation in 2013, RIC is home to world-class technologists and engineers, accomplished ethnographers and designers, and an experienced business and marketing team.
Ricoh Innovations Corporation addresses the large opportunities and challenges presented by The Infinite Network -- RIC's vision of the future in which all things and all people are connected all the time. Through the seamless integration of technology, user experience and business expertise, RIC generates Deep Innovation leading to the creation of new businesses that provide value to Ricoh's customers. Internal innovation is complemented with Open Innovation: working in partnership with a broad range of leading universities and forward-thinking companies around the world. To learn more about Ricoh Innovations Corporation, visit http://ric.ricoh.com.
| About Ricoh |
Ricoh is a global technology company that has been transforming the way people work for more than 80 years. Under its corporate tagline -- imagine. change. -- Ricoh continues to empower companies and individuals with services and technologies that inspire innovation, enhance sustainability and boost business growth. These include document management systems, IT services, production print solutions, visual communications systems, digital cameras, and industrial systems.
Headquartered in Tokyo, Ricoh Group operates in approximately 200 countries and regions. In the financial year ending March 2016, Ricoh Group had worldwide sales of 2,209 billion yen (approx. 19.6 billion USD). For further information, please visit www.ricoh.com
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