Profitect

Profitect is a prescriptive analytics company that uses machine learning to find ways retailers and CPG companies can increase profit margins. Its award-winning software, which can process vast amounts of data, automatically spots opportunities and sends alerts to users in near-real time about how to increase profits and margins.

Profitect is designed to give employees the tools to do their jobs well by giving them actionable information. It zeroes in on issues like inventory accuracy, sales and waste, then offers specific instructions on how to fix problems. For example, it helped a national shoe retailer increase inventory accuracy 64% to 93% in six months by finding that the problem was scanning accuracy and telling managers to retrain employees.

Profitect's features include:

• Prescriptive Actions: Finds opportunities and offers specific actions to increase profits and margins.
• Inventory Optimization: Uses machine learning to help with inventory management and to find profit opportunities.
• Sales and EBR (Exception-Based Reporting): Combines sales data with AI to find fraud, improve labor productivity and maximize customer spending.
• Mobile Field Application: Offers real-time data analysis and task assignment for retail and CPG companies.
• Logistics Module: Analyzes logistics data to improve efficiency, reduce fraud and ensure on-time delivery.

Profitect's approach is different from other companies that try to analyze complex data and present findings in reports. Instead, Profitect ingests complex data and offers clear, actionable prescriptions that anyone can understand and act on. That means there's no need to spend hours poring over reports to find the best course of action.

Profitect's platform is designed to work with different parts of retail, which is why it's a good fit for companies that want to optimize their operations. Customers can expect improvements in sales, margin and labor efficiency, and some have seen double-digit improvements.

With its focus on practical insights and actions, Profitect is a good fit for retailers and CPG companies that want to simplify their operations and boost profit.

Published on June 26, 2024