New York, USA - January 19, 2012:
Wipro Technologies, the Global Information Technology, Consulting and Outsourcing business of Wipro Limited (NYSE: WIT), today announced that it has entered into a strategic partnership with VendorNet, a leading provider of web-based omni-retailing and supply chain solutions, to solve retailers' challenges when it comes to synchronizing channels and having a single cross-channel view of inventory.
The collaboration involves the resale and integration of VendorNet Commerce Suite with Wipro's ENCORE e-commerce platform and will help retailers overcome organizational and cultural roadblocks inherent to the adoption of an omni-channel business model. The combined Wipro and VendorNet solutions will provide retailers with a true view of all their sales and fulfillment channels to enable a buy anywhere, anytime customer experience.
VendorNet's Commerce Suite delivers automated cross-channel integration and inventory visibility technology for best source fulfillment from any location, including stores, warehouses, and third-party suppliers. VendorNet's solutions include:
- StoreNet® Live for in-store pickup, ship-from store and ship-to store
- Dropship Manager, Stock PO Manager
- Order Broker for distributed order management
- SKU Trak for inventory tracking technology, as well as, add-on modules for returns and event management.
VendorNet integrates with platforms such as Wipro ENCORE to automate order routing and transmission, order status tracking, shipping, invoicing, reporting, and order lifecycle visibility.
"Our partnership with Wipro is very exciting. It is really taking the omni-channel retailing promise to the next level providing retailers with a fully integrated retail enterprise," stated Sharon Gardner, President of VendorNet. "Partnering with a global company such as Wipro means retailers worldwide have an opportunity to overcome the manageable challenges presented by omni-channel retailing. Our combined technologies and best-practice knowledge will ensure retailers can put the right product, at the right price, at the right time in the hands of consumers at any point-of-purchase."
The combined ENCORE and VendorNet solution will help retailers enhance their operations by linking inventory across channels including online, store, and dropship suppliers to source products from the most efficient locations.
According to Srini Pallia, Senior Vice President and Head, Retail, CPG, Transportation & Government, Wipro Technologies, "It is Wipro's endeavor to help retailers improve the omni-channel customer experience, which translates into higher sales and better margins. Through the VendorNet partnership, the ENCORE platform will be better equipped to fulfill sales by optimizing inventory to meet online demand and deliver a best-in-class customer experience. The ability to leverage store inventory to augment the online experience, provides enhanced customer experience and meets the dynamic needs of today's cross-channel customers."
Forrester's "U.S. Online Retail Forecast, 2009 to 2014" predicts that online retail sales will total $249 billion by 2014 up from $155 billion in 2009. It also forecasts that US online and web-influenced retail sales will account for 53% of total retail sales in 2014 up from 42% in 2009. Similarly, the report further predicts web-influenced sales will reach $1.4 trillion.
These statistics clearly demonstrate a growing demand for multi-channel integration as well as real-time, KPI-based (Key Performance Indicator) dashboards to set business objectives and measure performance with the associated business intelligence to guide immediate changes in commerce, merchandizing and marketing to maximize opportunity.
Wipro's retail experience spans global customers across geographies and the company's focus is to integrate legacy investments and future proof systems used to manage Operations, CRM (Customer Relationship Management), Shrinkage, ERP (Enterprise Resource Planning), Data Warehousing, Predictive Data Analytics and Price Optimization. Wipro's capabilities span Grocery, Fashion, as well as Health and Wellness Retailing.
About Wipro Technologies
Wipro Technologies, the global IT business of Wipro Limited (NYSE:WIT) is a leading Information Technology, Consulting and Outsourcing company, that delivers solutions to enable its clients do business better. Wipro Technologies delivers winning business outcomes through its deep industry experience and a 360 degree view of "Business through Technology" – helping clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, a practitioner's approach to delivering innovation and an organization wide commitment to sustainability, Wipro Technologies has 131,000 employees and clients across 54 countries. For more information, please visit www.wipro.com
VendorNet (http://vendornet.com) delivers web-based omni-retailing and supply chain solutions that enable intelligent cross-channel commerce by integrating and routing orders from all sales channels to the best-source fulfillment location including warehouses, suppliers, and brick and mortar stores. These solutions optimize inventory usage and visibility, decrease order delivery time and expense, improve customer loyalty and satisfaction, and increase sales. More than 120 retailers and over 18,000 suppliers, warehouses, and stores are leveraging VendorNet solutions. Retail clients include Nine West, CompUSA, Neiman Marcus, David's Bridal, Orvis, National Geographic, Rue La La, Saks Fifth Avenue, Liz Claiborne, and Guitar Center. VendorNet is a wholly-owned subsidiary of GSI Commerce. GSI Commerce is an eBay Inc. (Nasdaq: EBAY) company.
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Forward-looking and Cautionary Statements
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.