Las Vegas — February 9, 2009 — Specialty retailer Gap Inc. announced that it has implemented TRIRIGA for Retail and its workflow engine to drive and improve overall real estate bottom-line performance for its approximately 3,100 store locations.
With thousands of locations in six countries, Gap Inc. selected TRIRIGA for Retail to manage the workflow for its North American real estate portfolio and forecast the financial impact of real estate decisions, including whether to consolidate existing locations, remodel, renew in place or open new stores.
TRIRIGA's software is expected to help Gap Inc. manage lease costs of existing stores through various workflow processes that allow for increased collaboration and visibility to real-time project information.
"Gap Inc. selected TRIRIGA because it was the most well-designed package in the market that could deliver — in one application — the tools and technology to efficiently and flexibly manage our store real estate deal pipeline across our three brands, Old Navy, Banana Republic and Gap, as well as our Outlet business, and it provides a robust platform to manage the entire lifecycle process," commented Ray Miolla, acting head of Real Estate at Gap Inc. "TRIRIGA for Retail takes our real estate operational processes and workflow to a new level. It's just what we need to effectively manage our real estate pipeline, and we can leverage its many capabilities in the future to implement our long-term technology needs."
TRIRIGA for Retail provides workflow, financial analysis and evaluation of each real estate transaction, providing pro forma evaluation and comparison for each site location. It considers several key factors, including all costs associated with the transaction, the revenue of the transaction and the cannibalization impact of new stores on existing stores. In addition, TRIRIGA for Retail automatically tracks path milestone dates for on-time delivery of store projects.
"Organizations like Gap Inc. realize that it makes sense to invest in an integrated lifecycle solution to manage their workloads more efficiently and improve data integrity," said George Ahn, president and CEO of TRIRIGA. "Doing so will help them streamline their processes, manage their real estate assets and improve their bottom line."
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