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Strategic Investment Will Bring Leading Predictive Analytic Applications to Infor CloudSuite Retail, a Cloud-Based Application Suite for Modern Retailing
NEW YORK, NY --(Marketwired - January 18, 2016) - Infor, a leading provider of beautiful business applications specialized by industry and built for the cloud, today announced a strategic partnership with Predictix, a ground-breaking provider of cloud-native, predictive, and machine-learning solutions for retailers. As part of this partnership, Infor has invested $25 million in Predictix, whose applications use next-generation data science and big data analytics to help solve some of the most complex and challenging problems faced by retailers today. Infor will become a reseller of Predictix, deploying, managing, and supporting the applications for customers in the Infor cloud, and will infuse Predictix into development of Infor CloudSuite Retail, a new modern suite of enterprise applications delivered in the cloud and designed for today's retailing landscape announced in October in collaboration with Whole Foods Market, a mutual Infor/Predictix customer.
"Predictix is a company that shares our belief that modern technology can power a generational shift in retail software, and has delivered true innovation to merchandising and assortment management," said Duncan Angove, President of Infor. "Infor and Predictix sit at the intersection of cloud, analytics, and self-service and this partnership will only accelerate our joint mission to change the retail landscape."
Atlanta-based Predictix experienced more than 40 percent growth in SaaS subscriptions in 2015 and counts 5 of the top 15 global retailers as customers, managing more than $60bn in weekly forecasts. The company has an engineering- and science-driven culture with deep expertise in retail and a drive to revolutionize the industry. LogicBlox, the company's technology platform underlying all Predictix applications, revolutionizes the development of next-generation predictive and prescriptive applications, and has attracted funding from DARPA, the Defense Advanced Research Projects Agency.
"Partnering with Infor will provide Predictix access to the scale and resources of an enterprise software giant with the mentality of a forward-looking, entrepreneurial start-up," said Molham Aref, CEO of Predictix. "Predictix customers will benefit greatly from the cutting-edge work coming out of Hook & Loop, Infor's internal creative agency that is pushing the boundaries of product design and user experience."
Predictix software was built native to the cloud, harnessing its elastic supercomputer capabilities to solve complex problems on a massive scale and to deliver business benefits beyond those achievable from the cloud as a deployment model. Engineered with built-in science, Predictix applications feature machine learning and predictive (what will happen) and prescriptive (how to respond) analytics. Unlike legacy applications accessible only by select "super users," Predictix is designed for people across the retail operation to easily configure and build models, driving greater user adoption and enabling greater agility. Predictix applications sold to customers through Infor will be managed in the Infor cloud, which has grown to include more than 40 million users.
Infor joins existing Predictix investors Marlin Equity Partners, Kinetic Ventures, and ITC Holding Company.
Modern Applications Built for 21 st Century Retailing
Predictix will enable Infor to enhance CloudSuite Retail with modules that support:
Predictix supports multiple formats and types of retailing on a global scale, including online, brick-and-mortar, social, mobile, fashion, hardlines, mass-merchant, and grocery.
Integrating Predictix with the merchandising co-development being done with Whole Foods Market, Infor will bring planning and optimization together with merchandise execution. Through the partnership, Infor and Predictix intend to share underlying technology to advance big data and machine learning (via the LogicBlox platform) across Infor products like Analytics and Sales & Operations Planning with Infor Dynamic Science Labs, and to enhance Predictix with cutting edge design (via Hook & Loop), enterprise social collaboration (via Infor Ming.le™), and loosely-coupled, standards-based middleware (via Infor ION®).
Predictix and CloudSuite Retail will also be integrated with GT Nexus, the world's largest cloud-based global commerce platform. This integration will provide unprecedented visibility into a retailer's extended supply chain to manage production, and monitor goods in transit and at rest. The system will function as a virtual global control tower for the retailer, providing best responses to disruptions in the supply chain and recommending responses to minimize stock-outs and other negative consequences of irregularities.
"We've seen first-hand the powerful insights from Predictix at Whole Foods Market; it is the perfect complement to our efforts with Infor to build a new, modern retail software suite that will propel us into a new era," said Jason Beuchel, EVP and CIO of Whole Foods Market.
Changing the Game with Cloud-native Predictive and Prescriptive Analytics
Key points of differentiation for Predictix include:
About Infor Retail
Infor has 1,700 fashion and retail customers and has created a dedicated cloud business unit to support the retail industry. This unit comprises some of the best and brightest minds in retail software, with deep experience and understanding of the industry's unique challenges. Approximately 500 employees are currently focused on the retail industry, including Infor CloudSuite Retail, which is being designed in New York City, infused with data science from Cambridge, Mass., and developed in St. Paul, Minn. Infor also provides leading human resources, financials, customer relationship management (CRM), enterprise asset management (EAM), social collaboration (Infor Ming.le™), and Infor Analytics to the retail industry. To learn more visit www.inforretail.com.
Predictix solutions help its clients, which include 5 of the top 15 global retailers, change the game where it matters most -- driving $10s to $100's of millions in benefits by recommending the assortments customers want; interpreting, forecasting and shaping demand more precisely, and fulfilling the promise of omni-channel retail with cloud-native predictive and prescriptive analytics solutions. Predictix solutions for Merchandise Planning, Assortment and Category Management, Demand Forecasting, Price Optimization and Supply Chain Optimization are changing the way the world's leading retailers do business.
Infor builds beautiful business applications with last mile functionality and scientific insights for select industries delivered as a cloud service. With 13,000 employees and customers in more than 200 countries and territories, Infor automates critical processes for industries including healthcare, manufacturing, fashion, wholesale distribution, hospitality, retail, and public sector. Infor software helps eliminate the need for costly customization through embedded deep industry domain expertise. Headquartered in New York City, Infor is also home to one of the largest creative agencies in Manhattan, Hook & Loop, focused on delivering a user experience that is fun and engaging. Infor deploys its cloud applications primarily on the Amazon Web Services cloud and open source platforms. To learn more about Infor, please visit www.infor.com.
Infor customers include:
This announcement reflects the direction Infor may take with regard to the specific product(s) described herein, all of which is subject to change by Infor in its sole discretion, with or without notice to you. This announcement is not a commitment to you in any way and you should not rely on this document or any of its content in making any decision. Infor is not committing to develop or deliver any specified enhancement, upgrade, product or functionality, even if such is described in this announcement and even if such description is accompanied by words such as "anticipate," "believe," "expect," "intend," "may," "plan," "project," "predict," "should," "will," and/or similar expressions. Many factors can affect Infor's product development plans and the nature, content and timing of future product releases, all of which remain in the sole discretion of Infor. This announcement, in whole or in part, may not be incorporated into any contractual agreement with Infor or its subsidiaries or affiliates. Infor expressly disclaims any liability with respect to this announcement.
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