Message #21 From:
NewsBot Date: September 21, 2005 03:21:00 AM
PPID News Prescient Launches Advanced Commerce 7.0 for Retail Trading Partners; Upgraded Solution Includes Enhanced Reporting Tools and Buyback Options
WEST CHESTER, Penn.--(BUSINESS WIRE)--Sept. 21, 2005--Prescient Applied Intelligence, Inc. (OTCBB: PPID), a leading provider of supply chain and advanced commerce solutions for retailers and suppliers, today announced the latest release of its scan-based trading (SBT) solution, Advanced Commerce 7.0, which includes new tools and features to help retailers and suppliers increase sales, reduce inventory and improve invoice and settlement accuracy.
SBT is the process where suppliers maintain ownership of inventory within retailers' warehouses or stores until items are scanned at the point of sale. By eliminating discrepancies at the point of sale, Prescient's Advanced Commerce solution ensures that correct product data is available to retail trading partners at any time - allowing products to get to the consumer faster and cheaper, all while reducing operating costs and cutting inventory.
The new features and tools in Advanced Commerce 7.0 include:
-- Enhanced Reporting Tools: Item and Store Snapshot provides sale and delivery reports for a select period of time. This tool, which is used to track leading-indicator products, can provide snapshots for specific stores, items, date ranges, costs and delivery units. The solution allows users to do everything from looking up a single item at a single store to tracking every item in multiple stores.
In-Store Stock Position, a second reporting tool, produces inventory reports detailing supplier items in one or more retail stores. This tool is especially useful for determining inventory values in the event of a store disaster, such as a fire or cooler failure, and to change delivery options and routes as appropriate.
-- Improved Buyback Options: In order to start a successful SBT program, retail trading partners need to incorporate buybacks, the process where ownership of items in a store is switched from retailer to supplier. Advanced Commerce 7.0 allows users to set up buybacks both manually and automatically. When a buyback is posted into the Prescient system, it sets a beginning inventory and buyback date from which shrink and invoices are then calculated.
"Advanced Commerce 7.0 contains many of the enhancements that our customers, leading international retailers and suppliers, have requested," said Jane Hoffer, president and CEO of Prescient. "Our solution is a critical component of advanced commerce activities such as scan-based trading, receipt-based trading and pay-on scan. Because of this, Prescient continually strives to improve its solutions so that retail trading partners have the best tools possible to collaborate effectively and conduct business seamlessly."
Prescient Applied Intelligence provides a continuum of solutions for retailers and suppliers that translate consumer insight into better execution at the store shelf by capturing scan-sales data, improving forecast accuracy and increasing supply chain efficiencies.
About Prescient Applied Intelligence:
Prescient Applied Intelligence, Inc. enables retail trading partners to align planning and execution with changing market needs to maximize relationships and deliver on the promise of collaborative commerce. The company's retailer-centric and collaborative commerce solutions are designed with the understanding that product demand and business processes are fluid. Prescient's solutions capture information at the point of sale, provide greater visibility into real-time demand, and turn data into actionable information across the entire supply chain. As a result, the company's products and services enable trading partners to compete effectively, increase profitability, and excel in today's retail business climate. Household brand names like Ahold, AutoZone, Coors, Domino's Pizza, Rite Aid, Sara Lee, Schwan's, and Wyeth rely on Prescient. For more information, go to www.prescient.com.
Forward-Looking Statement:
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should" and "will" and similar expressions as they relate to Prescient Applied Intelligence, Inc. are intended to identify such forward-looking statements. Prescient may from time to time update these publicly announced projections, but it is not obligated to do so. Any projections of future results of operations should not be construed in any manner as a guarantee that such results will in fact occur. These projections are subject to change and could differ materially from final reported results. For a discussion of such risks and uncertainties, see "Risk Factors" in Prescient's report on Form 10-KSB filed with the Securities and Exchange Commission and its other filings under the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.
