Deal combines collaboration, business intelligence offerings to help retailers gain more accurate data about their supply chains
Austin, TX — August 3, 2005 — Retail industry solution provider PerformanceRetail has merged with Notiva, a provider of Web-based trade settlement software for retailers and their trading partners, in a move that the two companies say will help retailers address the dearth of accurate data across their supply chains.
Founded in 2000, Minneapolis-based Notiva provides a collaborative software solution designed to help retailers and their trading partners to reduce trade disputes, lower the cost of goods and improve revenue through a single source of data on the financial transactions between them.
Austin, Texas-based PerformanceRetail's InSite software suite is intended to provide retail business intelligence, merchandising and store operations capabilities to help "high-velocity" retailers gain new visibility into the metrics driving their businesses and thereby improve profitability and performance.
Gaining Visibility across the Supply Chain
The two enablers said that their merger will address a broad problem in the retail market, the lack of accurate data across the supply chain, an issue that costs retailers and manufacturers billions of dollars every year.
"By providing enhanced visibility and business analytics, and a modular suite of solutions to drive improved operational performance, the combined company can enable retailers with better information upon which to run their businesses and manufacturers with better visibility into the profitability of their retailer relationships," the solution providers said in a statement.
"This merger brings together the strengths of two technology leaders to create a proven provider of industry-defining solutions for retailers and manufacturers." said Marc Hafner, CEO of PerformanceRetail. "Together, and with the continued support of our investors and the additional resources this merger provides, we are better positioned to expand delivery of world-class solutions for the benefit of customers from both companies. We will continue to maintain our growth and seek opportunities to broaden as well fortify our product offerings."
Addressing a "Major Hole in the Market"
The merged company will retain the PerformanceRetail name and will be headquartered in Austin, Texas. Hafner continues in his role as CEO, president and chairman of the board. Additionally, the company is expanding the management team to include Notiva senior executives in the roles of vice president engineering, vice president professional services and vice president customer care in order to bring more focus to the company's customer deployments.
PerformanceRetail said that the merger comes on the heels of "significant momentum" for the company, which has added more than a dozen new customers this year. "This momentum clearly maps to recognition among retailers of the need for more timely, accurate and actionable business analytics and the value delivered by PerformanceRetail to fulfill this vision," the companies said in a statement. "Now, through the addition of the Notiva solution ... PerformanceRetail can extend its value deeper into retail organizations and across the entire supply chain.
"This combination broadens the appeal of the Notiva solutions and stands to address a major hole in the market," said Dave Bandych, co-founder of Notiva and the new vice president of customer care for the combined company. "Not only will we continue to provide best of breed modular solutions for retail business intelligence, store operations, merchandising and trade settlement, the combined vision enables the industry's first real-time analytics and collaboration database for retailers and their trading partners."
Additional Articles of Interest
— The focus in the retail sector has shifted from managing the movement of goods to managing information about goods. Read more in "Ramping Up the Retail Supply Chain," in the February/March 2005 issue of Supply & Demand Chain Executive.
— Words of wisdom from one university professor go a long way to help business students excel in supply chain management. Read "Interview with Dr. John T. Mentzer: Teaching Supply Chain" in the June/July 2005 issue of Supply & Demand Chain Executive.
— Forecast accuracy is important, but enterprises must look beyond it to realize their demand and supply chain objectives. For more information, read the exclusive SDCExec.com article "The Accuracy Trap."
Austin, TX — August 3, 2005 — Retail industry solution provider PerformanceRetail has merged with Notiva, a provider of Web-based trade settlement software for retailers and their trading partners, in a move that the two companies say will help retailers address the dearth of accurate data across their supply chains.
Founded in 2000, Minneapolis-based Notiva provides a collaborative software solution designed to help retailers and their trading partners to reduce trade disputes, lower the cost of goods and improve revenue through a single source of data on the financial transactions between them.
Austin, Texas-based PerformanceRetail's InSite software suite is intended to provide retail business intelligence, merchandising and store operations capabilities to help "high-velocity" retailers gain new visibility into the metrics driving their businesses and thereby improve profitability and performance.
Gaining Visibility across the Supply Chain
The two enablers said that their merger will address a broad problem in the retail market, the lack of accurate data across the supply chain, an issue that costs retailers and manufacturers billions of dollars every year.
"By providing enhanced visibility and business analytics, and a modular suite of solutions to drive improved operational performance, the combined company can enable retailers with better information upon which to run their businesses and manufacturers with better visibility into the profitability of their retailer relationships," the solution providers said in a statement.
"This merger brings together the strengths of two technology leaders to create a proven provider of industry-defining solutions for retailers and manufacturers." said Marc Hafner, CEO of PerformanceRetail. "Together, and with the continued support of our investors and the additional resources this merger provides, we are better positioned to expand delivery of world-class solutions for the benefit of customers from both companies. We will continue to maintain our growth and seek opportunities to broaden as well fortify our product offerings."
Addressing a "Major Hole in the Market"
The merged company will retain the PerformanceRetail name and will be headquartered in Austin, Texas. Hafner continues in his role as CEO, president and chairman of the board. Additionally, the company is expanding the management team to include Notiva senior executives in the roles of vice president engineering, vice president professional services and vice president customer care in order to bring more focus to the company's customer deployments.
PerformanceRetail said that the merger comes on the heels of "significant momentum" for the company, which has added more than a dozen new customers this year. "This momentum clearly maps to recognition among retailers of the need for more timely, accurate and actionable business analytics and the value delivered by PerformanceRetail to fulfill this vision," the companies said in a statement. "Now, through the addition of the Notiva solution ... PerformanceRetail can extend its value deeper into retail organizations and across the entire supply chain.
"This combination broadens the appeal of the Notiva solutions and stands to address a major hole in the market," said Dave Bandych, co-founder of Notiva and the new vice president of customer care for the combined company. "Not only will we continue to provide best of breed modular solutions for retail business intelligence, store operations, merchandising and trade settlement, the combined vision enables the industry's first real-time analytics and collaboration database for retailers and their trading partners."
Additional Articles of Interest
— The focus in the retail sector has shifted from managing the movement of goods to managing information about goods. Read more in "Ramping Up the Retail Supply Chain," in the February/March 2005 issue of Supply & Demand Chain Executive.
— Words of wisdom from one university professor go a long way to help business students excel in supply chain management. Read "Interview with Dr. John T. Mentzer: Teaching Supply Chain" in the June/July 2005 issue of Supply & Demand Chain Executive.
— Forecast accuracy is important, but enterprises must look beyond it to realize their demand and supply chain objectives. For more information, read the exclusive SDCExec.com article "The Accuracy Trap."
