Maximize Profit Opportunities

Identify and Resolve

Profitect's Profit amplification software, a pattern-seeking solution, enables retailers to quickly realize increased revenue and reduced costs across the entire retail supply chain. Profit Amplification pattern-seeking algorithms can “tell a story” by identifying the root cause in anomalies such as inventory distortion, on-shelf availability, shrink/waste/damage, or process compliance – helping retailers minimize the effort necessary to identify controllable factors that the solution translates into action. As a result, retailers can move quickly to prevent profit leakage at all levels of the organization, ultimately improving business processes and the top & bottom line.

Innovative pattern seeking technology identifies opportunities and delivers best practice solutions, impacting personnel, system, and process behaviors. The result is sustainable increases in revenue and reduced cost, enabling excellence in the ordinary.

Solutions Landscape

Sustainable Margin Increase

Increase Revenue / Reduce Costs

Margin expansion is achieved through a sustainable increase in revenue and the reduction of cost and loss. Increases in revenue are accomplished through actions including out of stock prevention, catalog monitoring, on-shelf availability improvement, discount reduction, and monitoring vendor compliance. Cost and loss reduction is reached through return reclamation, margin erosion prevention, and the reduction of damage, waste, freight cost, and shrink, to name a few examples. These increases in revenue and decreases in cost are obtained by putting the building blocks of profit amplification to work. The key components of scalability, sustainability, and accountability are all essential factors needed to attain margin expansion goals and customer experience objectives.

Scalability
As a business scalable solution, Profitect sends opportunities to "owners" and tracks best practice execution which makes the solution capable of adapting to the size of your business, finding opportunities from the store, all the way down to the sku level.

Sustainability
From identifying opportunities all the way to actions, this is not another reporting system or another exception management system. Profitect provides scored and ranked priorities that get to the field for execution based on your culture and best practices.  Ease of use makes it simple for new employees to get up and running quickly.

Accountability
Profitect prescribes solutions to the field that can be traced from creation and detection to actions being executed as the opportunity is resolved.

Margin expantion

The Building Blocks of Profit Amplification


Profit amplification consists of six (6) components which create the foundation for achieving and sustaining margin expansion. The combination of these elements guide retailers to see the bigger picture where profit opportunities exist and provide the necessary framework to ensure success.
Pattern seeking

Pattern Seeking Technology

Retailers generate large amounts of data, holding a wealth of information in the form of patterns. However, the sheer volume of data obscures those patterns and makes them impossible to detect by manual inspection. Profitect uses pattern seeking technology to look at the retailers different systems and identify anomalies or opportunities for improvement.

Predictive analytics

Predictive Analytics - Predictive Indicators

In addition to pattern technology, Profitect also develops and provides predictive analytics, which we call predictive indicators. Utilizing your data to predict what is going to happen, you can identify issues in advance and take actions to turn things around.

Profit hub

Profit Hub - Across the Entire Retail Value Chain

Profitect also looks at your business across the entire retail value chain, from planning and buying to the point of sale. We enable you to identify and focus on areas to increase revenue and reduce cost and loss.

Ranking

Ranking and Prioritization

Profitect is not another reporting system or another business intelligence tool. The Profitect solution identifies opportunities for improvement, but we don’t stop there. Once opportunities are identified, the solution then ranks and prioritizes them according to their value, as well as eliminate any false positives. Ranking of a task is also critical to make sure that time is spent on a task with the highest value and impact, ensuring it is a true positive.

Best Practices

Best Practices - Actions

There are a lot of reporting solutions for retail, but you rely on the talent in the store to interpret the findings. You trust that someone will understand the report in the way that you want them to. However, with high attrition, new stores and hiring, most likely someone has come from one of your competitors and may do it their way; you want them to do it your way. You are no longer sending them a report that they need to translate; send your own best practices of how you want them to deal with the task, turning those opportunities into actions aligned with your culture.

workflow

Workflow and Task Management

Best practice solutions are linked to an internal workflow and task management system. Integrated monitoring is fed back to the application through the workflow to see who is actually executing tasks and how it is being done to ensure opportunities are completed. From initial tracking to escalation and resolution of the opportunities, retail associates are guided from start to finish.

Enterprise Wide Visibility

Focus on Profit Opportunities

Typically retailers are looking at malicious internal and external loss, which is usually about finding and building up a case against specific people and fraudulent activity. Profitect looks at the big picture to help retailers identify both the malicious and non-malicious, and anything to do with items not being sold at planned margins. Automatic actions guide retailers step by step to quickly increase profits at all levels of the organization. This resulting efficiency of managed tasks and reduced associated labor costs will enable stores to improve customer service, combat showrooming, increase same store sales, and improve other critical Key Performance Indicators (KPI’s). As a result, retailers can move quickly to prevent profit leakage at all levels of the organization, ultimately improving business processes and the top and bottom line.

Looking at the big picture allows patterns to be identified throughout the retail enterprise, from matching patterns to known problem areas, to recognizing and identifying new patterns. Profitect enables retailers to continuously improve operations throughout, identifying the patterns and taking specific action.

Big Picture

Continuous Improvement

Change For The Better

Retail is constantly changing, with high employee turnover, a constant stream of new products with changing availability, and a lot of stores to manage. Because of these challenges, retailers need to continuously identify today’s opportunities and be on the lookout for tomorrow’s new ones. Support for continuous improvement allows pattern matching to constantly look for known issues, letting the retailer “set it and forget it.” Retailers are then able to find new, unknown patterns through pattern recognition, allowing for the continuous improvement and providing value to every area of the retail business. Patterns that “tell a story” are used to identify and resolve areas such as inventory distortion, on-shelf availability, shrink/waste/damage, or process compliance.

Pattern seeking