Revionics, Inc. Revionics' RAPSâa different approach to merchandising
11 / 06
2009
ERP:retail Enterprise Recourse Planning solutions—Retail industry insight
Interview
Vendor InSight
Revionics’ RAPS—a different approach to merchandising
Revionics, Inc.
“While we are not an ERP provider, we do compete with companies such as Oracle, SAP, JDA, and others who offer solutions related to merchandising optimization. Our solution competes with these modules in a best-of-breed format.”— Susan Boyme, Revionics, Inc. their pricing strategies, leveraging the Revionics solutions. Retailers plan a strategy in advance of deployment, and let Revionics forecast consumer reaction to the proposed strategy. Prices are then promoted to a portal, where retailers can review, edit, and export the recommendations. Integrated reporting and analytics monitor key performance metrics and monitor retail results.
Susan Boyme Vice President, Marketing at Revionics, Inc. VC: What type of products Revionics provides? In what industry? Boyme: Revionics provides consumercentric merchandising optimization solutions. We integrate data from a retailer’s master data management environment (product, cost, sales, vendor info, etc) and then apply advanced retail analytics. Recommendations are made with regards to the ideal price, promotion, markdown, store-level orders, assortment, and more. VC: Please tell us more about one of your products. Boyme: Revionics Advanced Pricing Solutions help retailers better price, promote, and merchandise their products through the use of advanced retail pricing science. Retailers can better plan, execute, and measure
VC: What are the advantages and benefits of the RAPS service which make it different from ERP solutions especially in the current challenging economic environment? Boyme: Revionics is actually a compliment to an ERP environment. Where an ERP would provide the infrastructure (master data management, financials), Revionics provides a best-in-breed approach to merchandising optimization. Our integrated forecast can be leveraged for supply chain forecasting, pricing, promotions, markdowns, and assortment/space planning.
Revionics is a leading provider of lifecycle price optimization, including everyday price, promotion, and markdown optimization technology for retailers. The Revionics Advanced Pricing System (RAPS) generates increased sales and profits through sophisticated consumer-demand intelligence and proprietary retail-pricing science. Revionics software is offered in a SaaS model, including convenience and affordable pay-as-you-go options. The RAPS service includes weekly price remodeling across all items at all stores, as well as scenario planning, forecasting, and category analytics. Revionics solution is currently in use in over 100 retailers and wholesalers, including retailers in grocery, general merchandise, discount, drug, convenience, automotive, and home/hardgoods. Company Profile Company type
Corporation
Annual turnover
Private
Number of Customers Total
100
Number of Employees
75
Inception
2002
Geographical coverage
Global, with a US concentration
VC: Have you launched or are you planning to launch a newer version of the product? Boyme: Revionics is Software as a Service (SaaS), and releases a new release quarterly. Upgrades are automatic to our customers.
Contact Information: Susan Boyme Vice President, Marketing E-mail: [email protected] Phone: (916) 677-5433 Mobile: (916) 216-0093 Fax: (916) 797-6081
VC: How do you set prices for the product? What is your fee structure? Boyme: Revionics prices our solution by the number of stores using our
Revionics, Inc. 4208 Douglas Blvd, Suite 300 Granite Bay, CA 95746
...continued on next page
The RFPConnect.com Version Control© periodical Newsletter
sponsored by:
November 2009 / issue 1
Interview (continued) solution. For online retailers and crosschannel merchants, we look at a mix of revenue and store count. VC: What trends are developing in the industry you cover? Boyme: Trends are relative to addressing consumer price sensitivity, reduced traffic in-store, and increased competitive pressure. We address this by offering solutions that help retailers understand which items are more sensitive than others, helping them craft effective price and promotion strategies that attract and retain consumers who are shopping for value, or planning their shopping trips in advance.
Upcoming Events VC: How do you position the RAPS on the market? Boyme: Revionics provides a bestin-breed merchandising optimization suite that includes full lifecycle pricing, replenishment, assortment, and space solutions. VC: And what is your strategy of gaining market share of the product? Boyme: Revionics will gain market share as retailers shift towards consumer-centric merchandising. Success stories, proven results, and word of mouth will complement our sales initiatives. Our SaaS model makes our solution easy to implement and affordable.
Latest News on ERP solutions in retail industry • Blacks Retail Analysis Launches Blacks Premium. Blacks Premium pools the research and trend information generated by Blacks consultants to offer a one-stop resource for retailers, consultants, apparel vendors and other industry professionals. • Tomax Corporation announced the rollout of Retail.net solutions at Swarovski North America. The specialty retailer, operating over 200 luxury retail sites in the United States, licensed Retail.net merchandise financial planning, inventory management, allocation, merchandise management, store operations, customer management and performance management modules. • Imonggo introduced an Open Source software with an optimized branch management feature that allows the set-up of a POS system per branch, and an enhanced connectivity between branches. • KSS Inc. introduced KSS Analytics, a business intelligence software, and thus expanded its overall offering to include fuel price management software, analytics solutions and consulting services.
Other news • Accenture will help Fiat Item, a subsidiary of the Fiat Group, to consolidate its information and communications technology (ICT) operations under a multi-year application outsourcing contract. Financial terms were not disclosed. Fiat Item will outsource to Accenture its application development and maintenance activities that support its human resources and finance and administration functions.
TechnologyWorld09 23 Nov 2009 - 24 Nov 2009 Ricoh Arena, Coventry, UK. Tel: +44 (0)121 510 1478 Email: [email protected] TechnologyWorld09 is the leading technology ‘meet the buyer’ event in the UK. It brings together the best of UK innovation to carefully selected buyers and potential partners from across the globe to do business via a two day meeting focussed event.
Factors & Supply Chain Finance 13 Nov 2009 3i Infotech, Level 35, 25 Canada Square, Canary Wharf, London, UK. Email: [email protected] What is supply chain finance and how does it differ from reverse factoring? Why has reverse factoring worked so well and become established in some markets like Spain and only just beginning to take off in other markets such as the UK? What are the best methods for engaging large corporates; overcoming their internal political barriers and assessing varying risk environments along the chain?
• Oracle is now a global technology partner of the DHL Innovation Initiative. The company is using its technical expertise in processing logistics movement data to support the community of international companies who are working together. • What are US Retails Mostly Afraid Of? The current economic slowdown, damage to reputation and disruption or supply chain failure are the top three risks identified by Aon Analytics in its recently released 2009 U.S. Retail Industry Report. Risk concerns for the top ten risks which retail respondents reported the lowest state of preparedness mirrored the top three risks—economic slowdown at 33%, damage to reputation at 52% and distribution or supply chain failure at 53% - are typically more complex, difficult to control, enterprise-wide and carry a degree of predictability. The full report is available on www.aon.com
The RFPConnect.com Version Control© periodical Newsletter
See How 500+ Firms Improved Client Service with Advent Portfolio Exchange 17 Nov 2009, 2:00 PM ET/11:00 AM PT 45 minute Web Seminar Email: [email protected]
November 2009 / issue 1
2009
ERP:retail Enterprise Recourse Planning solutions—Retail industry insight
Interview
Vendor InSight
Revionics’ RAPS—a different approach to merchandising
Revionics, Inc.
“While we are not an ERP provider, we do compete with companies such as Oracle, SAP, JDA, and others who offer solutions related to merchandising optimization. Our solution competes with these modules in a best-of-breed format.”— Susan Boyme, Revionics, Inc. their pricing strategies, leveraging the Revionics solutions. Retailers plan a strategy in advance of deployment, and let Revionics forecast consumer reaction to the proposed strategy. Prices are then promoted to a portal, where retailers can review, edit, and export the recommendations. Integrated reporting and analytics monitor key performance metrics and monitor retail results.
Susan Boyme Vice President, Marketing at Revionics, Inc. VC: What type of products Revionics provides? In what industry? Boyme: Revionics provides consumercentric merchandising optimization solutions. We integrate data from a retailer’s master data management environment (product, cost, sales, vendor info, etc) and then apply advanced retail analytics. Recommendations are made with regards to the ideal price, promotion, markdown, store-level orders, assortment, and more. VC: Please tell us more about one of your products. Boyme: Revionics Advanced Pricing Solutions help retailers better price, promote, and merchandise their products through the use of advanced retail pricing science. Retailers can better plan, execute, and measure
VC: What are the advantages and benefits of the RAPS service which make it different from ERP solutions especially in the current challenging economic environment? Boyme: Revionics is actually a compliment to an ERP environment. Where an ERP would provide the infrastructure (master data management, financials), Revionics provides a best-in-breed approach to merchandising optimization. Our integrated forecast can be leveraged for supply chain forecasting, pricing, promotions, markdowns, and assortment/space planning.
Revionics is a leading provider of lifecycle price optimization, including everyday price, promotion, and markdown optimization technology for retailers. The Revionics Advanced Pricing System (RAPS) generates increased sales and profits through sophisticated consumer-demand intelligence and proprietary retail-pricing science. Revionics software is offered in a SaaS model, including convenience and affordable pay-as-you-go options. The RAPS service includes weekly price remodeling across all items at all stores, as well as scenario planning, forecasting, and category analytics. Revionics solution is currently in use in over 100 retailers and wholesalers, including retailers in grocery, general merchandise, discount, drug, convenience, automotive, and home/hardgoods. Company Profile Company type
Corporation
Annual turnover
Private
Number of Customers Total
100
Number of Employees
75
Inception
2002
Geographical coverage
Global, with a US concentration
VC: Have you launched or are you planning to launch a newer version of the product? Boyme: Revionics is Software as a Service (SaaS), and releases a new release quarterly. Upgrades are automatic to our customers.
Contact Information: Susan Boyme Vice President, Marketing E-mail: [email protected] Phone: (916) 677-5433 Mobile: (916) 216-0093 Fax: (916) 797-6081
VC: How do you set prices for the product? What is your fee structure? Boyme: Revionics prices our solution by the number of stores using our
Revionics, Inc. 4208 Douglas Blvd, Suite 300 Granite Bay, CA 95746
...continued on next page
The RFPConnect.com Version Control© periodical Newsletter
sponsored by:
November 2009 / issue 1
Interview (continued) solution. For online retailers and crosschannel merchants, we look at a mix of revenue and store count. VC: What trends are developing in the industry you cover? Boyme: Trends are relative to addressing consumer price sensitivity, reduced traffic in-store, and increased competitive pressure. We address this by offering solutions that help retailers understand which items are more sensitive than others, helping them craft effective price and promotion strategies that attract and retain consumers who are shopping for value, or planning their shopping trips in advance.
Upcoming Events VC: How do you position the RAPS on the market? Boyme: Revionics provides a bestin-breed merchandising optimization suite that includes full lifecycle pricing, replenishment, assortment, and space solutions. VC: And what is your strategy of gaining market share of the product? Boyme: Revionics will gain market share as retailers shift towards consumer-centric merchandising. Success stories, proven results, and word of mouth will complement our sales initiatives. Our SaaS model makes our solution easy to implement and affordable.
Latest News on ERP solutions in retail industry • Blacks Retail Analysis Launches Blacks Premium. Blacks Premium pools the research and trend information generated by Blacks consultants to offer a one-stop resource for retailers, consultants, apparel vendors and other industry professionals. • Tomax Corporation announced the rollout of Retail.net solutions at Swarovski North America. The specialty retailer, operating over 200 luxury retail sites in the United States, licensed Retail.net merchandise financial planning, inventory management, allocation, merchandise management, store operations, customer management and performance management modules. • Imonggo introduced an Open Source software with an optimized branch management feature that allows the set-up of a POS system per branch, and an enhanced connectivity between branches. • KSS Inc. introduced KSS Analytics, a business intelligence software, and thus expanded its overall offering to include fuel price management software, analytics solutions and consulting services.
Other news • Accenture will help Fiat Item, a subsidiary of the Fiat Group, to consolidate its information and communications technology (ICT) operations under a multi-year application outsourcing contract. Financial terms were not disclosed. Fiat Item will outsource to Accenture its application development and maintenance activities that support its human resources and finance and administration functions.
TechnologyWorld09 23 Nov 2009 - 24 Nov 2009 Ricoh Arena, Coventry, UK. Tel: +44 (0)121 510 1478 Email: [email protected] TechnologyWorld09 is the leading technology ‘meet the buyer’ event in the UK. It brings together the best of UK innovation to carefully selected buyers and potential partners from across the globe to do business via a two day meeting focussed event.
Factors & Supply Chain Finance 13 Nov 2009 3i Infotech, Level 35, 25 Canada Square, Canary Wharf, London, UK. Email: [email protected] What is supply chain finance and how does it differ from reverse factoring? Why has reverse factoring worked so well and become established in some markets like Spain and only just beginning to take off in other markets such as the UK? What are the best methods for engaging large corporates; overcoming their internal political barriers and assessing varying risk environments along the chain?
• Oracle is now a global technology partner of the DHL Innovation Initiative. The company is using its technical expertise in processing logistics movement data to support the community of international companies who are working together. • What are US Retails Mostly Afraid Of? The current economic slowdown, damage to reputation and disruption or supply chain failure are the top three risks identified by Aon Analytics in its recently released 2009 U.S. Retail Industry Report. Risk concerns for the top ten risks which retail respondents reported the lowest state of preparedness mirrored the top three risks—economic slowdown at 33%, damage to reputation at 52% and distribution or supply chain failure at 53% - are typically more complex, difficult to control, enterprise-wide and carry a degree of predictability. The full report is available on www.aon.com
The RFPConnect.com Version Control© periodical Newsletter
See How 500+ Firms Improved Client Service with Advent Portfolio Exchange 17 Nov 2009, 2:00 PM ET/11:00 AM PT 45 minute Web Seminar Email: [email protected]
November 2009 / issue 1
