Two of retail’s best-of-breed software companies are teaming up to help retailers around the world save time, optimize inventory management, and enjoy better profit margins.
POS and unified commerce platform provider, Sitoo, have partnered with GoFact, the Danish inventory and assortment optimization software that helps brands and retailers improve inventory management while seeing increased sales, better margins and higher profit.
In a retailer’s IT architecture, GoFact is ‘put on top’ of an existing POS or ERP and does not require any complicated integrations in order for it to work. With GoFact in place, the complexity of inventory and product assortment optimization are simplified through predictive analytics and machine learning.
We make the complex simple and give retailers and brands the level of detail they need to act on facts rather than feelings.
Henning Hausted, CEO and founder of GoFact
“You might have an identical product across ten stores but it won’t perform identically across every store. As time goes by, the diversity of sales will be very obvious. Traditionally, you need to know your inventory and understand your different sales flows or performance in order to optimize your stock and sales – but this has always been complex and labour intensive.” says Henning Hausted, CEO and founder of GoFact.
“What we do is make it very obvious which actions to take in order to optimise and reduce your stock, and increase your turnover. When you’re working with a large number of SKUs, product styles and the different performance of them, it’s very hard to get into the details. This is where we’re extremely good because we are very visual and we tell you exactly what to do in order to reduce stock while increasing sell-through and gross margin.”
Jeansbolaget, a chain of 32 stores across Sweden, have been using GoFact for 18 months and will be the first retailer to benefit from the partnership between GoFact and Sitoo.
Tobias Frick, Co-founder of Jeansbolaget, says: “A lot of POS systems on the market seem to be stuck and have stopped their development. Not Sitoo. Sitoo has managed, in a relatively short time frame, to achieve much more than anything I’ve ever seen from other POS systems. They are extremely focused on creating a best-of-breed solution and I’m excited to see how we develop together.”
Sitoo has managed, in a relatively short time frame, to achieve much more than anything I’ve ever seen from other POS systems.
Tobias Frick, Co-founder of Jeansbolaget
Henning Hausted continues: “Jeansbolaget went for a new POS solution in order to find a perfect match. They chose Sitoo who covers everything that happens in-store, between stores, and between stores and online sales channels, while GoFact handles everything in the product life cycle without actually selling the product. The two systems combined will handle the full product flow and create a win-win situation for the retailer.
Jens Levin, co-founder and CEO of Sitoo, says: “We’re delighted GoFact is a part of our fast growing ecosystem. Like us, they are hugely ambitious and, through working together, we’re confident we can help forward-thinking retailers work smarter, enjoy a far stronger ROI and maximise their profit margins.”
