New IT solutions to increase growth in retail sector
Born from a new partnership between LS Retail (Iceland) and TARGIT, (Hjørring, Denmark) the new and specially designed IT solution will give retailers worldwide a much needed overview of their business and performance.
A new IT system designed by TARGIT and LS Retail will provide retailers with an up-to-date overview of their business’s daily operations and performance. TARGIT, Europe’s largest pure-play developer of BI products, and LS Retail have partnered for the first time for the development of the solution. LS Retail is the leading provider of end-to-end solutions and services for the retail, hospitality, and forecourt industries based on Microsoft Dynamics and .NET technology. This partnership sets the stage for an impressive export potential with international customers.
Among the notable features most relevant to the retail industry is the software’s early-warning system, which makes it possible for retailers to react to current or potential aberrations quickly and proactively with a direct and positive effect on the bottom line.
“It is vital for the retail industry to get a clear, real-time overview of the enormous amounts of data being generated daily,” explains TARGIT CSO Flemming Madsen. “With LS Retail’s data organization for Business Intelligence, we have a flexible solution that can be implemented right away. And with the improved overview from the elaborate reports and analyses, retailers can build a better business.”
TARGIT’s solution will give the more than 2,000 LS Retail customers access to a rich reporting functionality, elaborate analyzing capabilities, and dynamic dashboards, among other game-changing features.
Magnus Norddahl, CEO of LS Retail, adds, “TARGIT is the biggest BI vendor for Microsoft Dynamics NAV. This makes us a perfect match. And the retailers will be able to increase their profitability with the combined solution.”
Flemming Madsen expects that a minimum of 10-25 percent of the LS Retail customer portfolio will implement TARGIT over the next three years, resulting in a gross turnover of 2.5 to 6 million USD (DKK 13-33 M).