Leading Retail CFOs Improve Profits Despite Struggling Economy

WALTHAM, Mass., March 24, 2011 /PRNewswire/ -- Profitect, a profit protection solution provider that delivers increased profits through the identification and reduction of value chain margin leakage, shrink, waste, process errors, and operational risks and damages, is helping retailers worldwide boost their bottom line.

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Frank Hammerle, Finance Director of METRO Cash & Carry Romania, stated , "The continuous reduction of shrinkage is of big importance for us in order to allow us to offer our most competitive prices to our professional customers. The introduction of the Profitect solution provided a strong impact in the reduction of our shrinkage by more than 20% in one year."

David Even-Haim, President and Co-Founder of Profitect, noted, "Smart retailers have realized that current economic conditions where retail margins are being squeezed out of a lean supply chain, necessitates Profitect's solution to help them identify and increase profit opportunities throughout the value chain."

"We are very pleased with the results we achieved with Profitect. In the first two years of implementation we were able to reduce shrink and damage by 23% , sustain the achievement and increase profits. Profitect's power tools and modular approach, backed by outstanding support, training and coaching services, allowed us to increase the productivity of our profit protection teams, both at the headquarters and store operations," said Dror Moran, CFO of Blue Square.

The retail climate has changed and CFOs need to shift their approach from tactical to strategic, taking a broader role in technology innovation to drive company margin growth.

Avi Shani, CFO of Co-Op, concluded, "I am very happy with the results we achieved with Profitect's POS module. Profitect is a critical tool in my financial control arsenal, serving as my eyes and ears for all irregular and fraudulent POS activities. Profitect's support and flexibility are outstanding and their can-do approach goes far beyond everything I experienced with other vendors. Profitect delivered what they promised. We are proactively preventing margin erosion and increasing profits."

About Profitect

Profitect is a global provider of Profit Protection software solutions that deliver a rapid 5-8% profit increase by statistically identifying, analyzing, and resolving profit leakage in key risk areas across the entire value chain. 

Profitect's proprietary Solution Bank and Rules Engine provide automated best-practice recommendations that identify and fix margin leakage throughout the value chain.  The solution uses workflow and task management to ensure action is taken. Profitect can be deployed rapidly, through a modular and scalable approach.