Profitect’s Technology Enables Return on Investment for Every Opportunity, Integrates With Existing Retail Task Management Tools and Monitors for Resolution of Issues Leading to Increased Profits
January 14, 2016: 07:55 AM ET
Profitect Inc., the leading prescriptive analytics provider for the retail industry, today announced its newest customer Sally Beauty Supply, the largest retailer of professional beauty supplies in the world. With Profitect, Sally Beauty has transformed the brand’s internal and external point of sale operations by implementing the prescriptive analytics solution. After a two-week implementation, Sally Beauty Supply now has better insight into its retail value chain through Profitect’s ability to identify actionable opportunities and monitor for areas of improvement.
After evaluating several retail data solutions, Sally Beauty Supply selected Profitect for its scalability, ease of use, time to value and capacity to expand throughout the retail value chain. The leading beauty retailer experienced error-free integration into an existing point of sale system within two weeks of the Profitect installation, and is now able to identify trends and patterns associated with areas of leaking profit — including shrink, damage, costing errors, waste, process mistakes, lack of training and more. This empowered Sally Beauty Supply to monitor and take action on sales operations for all of its 4,300 stores in the U.S., in addition to boosting its loss prevention point of sale needs and improving cashier operational performance through data-driven training.
“Profitect provided one complete prescriptive analytics solution that enabled us to upgrade our operational performance and opportunity identification needs,” Mike Povendo, Vice President of Loss Prevention and Safety of Sally Beauty Supply. “Profitect revolutionized the way our stores operate with the technology’s world-class functionality, clarity, ease of use and detailed visibility capabilities when you need it. Cosmetologists and beauty enthusiasts rely on our expertise to provide the highest-quality beauty products on the market, and Profitect’s prescriptive analytics solution allows us to deliver on this commitment through its unique patterns and action-driven insight.”
As Sally Beauty Supply continues to derive value from the solution, Profitect expects to enable the company to increase profits with its solutions management capabilities, multi-dimensional prescriptive analytics and user-driven administrative functionality. Sally Beauty Supply team members will also be able to independently manage their own needs for insights, opportunities and predictions.
“Sally Beauty Supply recognized the value of prescriptive analytics and is now leading the pack as a top retailer realizing the benefits of this transformative technology. We couldn’t be more pleased that they chose our easy-to-use, self-serve prescriptive analytics solution to make an impact from finance to the retail floor,” said Guy Yehiav, CEO of Profitect. “Being able to assist in an IT and operations ‘makeover’ was a success for both the Sally Beauty Supply team and ours.”
About Sally Beauty Holdings, Inc.
Sally Beauty Holdings, Inc. (NYSE: SBH) is an international specialty retailer and distributor of professional beauty supplies with revenues of $3.8 billion annually. Through the Sally Beauty Supply and Beauty Systems Group businesses, the Company sells and distributes through 4,900 stores, including approximately 200 franchised units, throughout the United States, the United Kingdom, Belgium, Chile, Colombia, Peru, France, the Netherlands, Canada, Puerto Rico, Mexico, Ireland, Spain and Germany. Sally Beauty Supply stores offer up to 10,000 products for hair, skin, and nails through professional lines such as Clairol, L’Oreal, Wella and Conair, as well as an extensive selection of proprietary merchandise. Beauty Systems Group stores, branded as CosmoProf or Armstrong McCall stores, along with its outside sales consultants, sell up to 10,000 professionally branded products including Paul Mitchell, Wella, Sebastian, Goldwell, Joico, and Aquage which are targeted exclusively for professional and salon use and resale to their customers. For more information about Sally Beauty Holdings, Inc., please visit sallybeautyholdings.com.
Profitect leverages existing big data investments to identify, resolve, and measure opportunities for improvement by delivering actionable prescriptive analytics to the right person, at the right time.
Profitect’s prescriptive analytics automates retail data and simplifies complex analytics in an easy to use interface. It identifies and corrects behaviors and events impacting sales and profitability. Also, by using unstructured data from customer comments and reviews it is able to quantify positive or negative trends for immediate action. Results are delivered automatically, directly to the person who can take action, giving them specific details of what was found, why, and how to fix it.