RTMS and NeoVista Extend Opportunity for Retailers to Reach Customers
Retailers will now be able to realize greatly improved sales responses through their direct marketing efforts as the result of a strategic partnership announced between RTMS, Inc. and NeoVista Software, Inc. This improvement is made possible through the delivery of unprecedented accuracy in identifying, predicting and executing cross-selling and up-selling programs tailored to meet individual customer buying preferences.
The agreement combines RTMS' flagship software, Archer, with NeoVista's Decision Series. Archer is known for its ability to help retailers increase customer share of wallet with individualized marketing campaigns based on past transactions, while Decision Series' analytical modules create a sophisticated and powerful modeling environment. The companies plan to jointly develop, integrate, market, and sell their solutions.
This integration of up-front predictive analysis and individualized marketing marks an industry first for retailers, who have never before had access to an integrated, direct marketing solution that taps advanced data mining techniques. The combined solution gives retailers the ability to analyze a broad range of data and create propensity-to-buy models to identify products and services that each customer might like, based on greater trends, patterns and relationships.
"Retailers spend millions on direct marketing campaigns," said Timothy J. Keane, president and CEO of RTMS, based in Milwaukee, Wis. "Now they'll be able to use what they already know about customers to predict with increased accuracy and efficiency what other products and services customers would like to buy." It's a potent one-two punch with direct impact on top-line revenue and bottom-line profits.
The partnership brings together the expertise of two of the retail industry's most powerful solutions for improving profits, increasing sales and broadening customer satisfaction. NeoVista's powerful automated knowledge discovery technology helps retailers leverage store and customer-level data to uncover important sales patterns and consumer preferences. These patterns are used to build models to improve targeted assortment planning, seasonal demand profiling, and targeted promotions planning. RTMS' solutions and services help retailers reach customers with the offers they are most likely to want, even when dealing with thousands of individuals.
"Data mining delivers a competitive advantage to retailers who do direct marketing, because it increases the ROI - and predictability of almost any campaign," said Judson Groshong, vice president of marketing at NeoVista, based in Cupertino, Calif. "Retailers who use our offerings will have a more complete understanding of their customer preferences and needs, and hence will be much better positioned to increase customer lifetime value, strengthen loyalty and improve customer service."
About the companies
RTMS is a leading provider of fully integrated customer relationship management solutions for individualized marketing. The company also provides value-added consulting services and production management systems to customer-oriented business of all kinds. Its Archer Software is used by major companies that need to rapidly launch, measure and refine customized marketing initiatives to maintain their market leadership. Clients include Kohl's Department Stores, Sears Canada, Carson Pirie Scott, Filene's Basement and Saks, Inc. The company, founded in 1989, is based in Milwaukee, Wis., and is privately held. It can be reached at http://www.rtms.com.
NeoVista Software, Inc., is a leading provider of business intelligence applications, services and technology to retail, financial services and insurance enterprises with large numbers of customers. Corporate analysts and decision-makers rely on NeoVista's advanced analytical and predictive capabilities for strengthening customer intimacy and significantly improving bottom-line operational results. Backed by premier investors, GE Capital Corporation, Index Securities S.A., Kleiner Perkins Caufield & Byers, NewYork Life Ventures, Perot Systems Corporation, Sevin Rosen Funds, Sumitomo Corporation and U.S. Trust Company of New York, the company is headquartered in Cupertino, CA. For more information, refer to the company's web site at http://www.neovista.com.