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Modular Solution Marries the Power of Integration with the Rapid Payback of Best of Breed
Minneapolis - January 14, 2002 ¾ Retek Inc. (NASDAQ: RETK) unveiled its new integrated, modular retail solution, Retek 10, at NRF 2002, the National Retail Federation’s annual convention in New York. Retek 10 is a combination of implementation strategies, technologies, services, software and support designed to optimize retail business performance, maximize customer satisfaction and minimize supply chain costs.
Retek 10 represents a development investment of more than $100 million and is the result of feedback and contributions from hundreds of Retek customers, partners and consultants. Components include Retail Customer Relationship Management, Supply Chain Management, Advanced Retail Planning and Optimization and Merchandising Operations Management. The advanced retail integration allows for the deployment of these modules individually or simultaneously based on application requirements.
FASTEST PATH TO SUSTAINABLE BUSINESS VALUE
Retek 10 delivers the fastest path to creating sustainable business value through three main functionalities:
· Flexible deployment options
Flexible deployment options in Retek 10 allow retailers to start small and build to larger solutions through a modular architecture. Customers can optimize systems already in place, or develop quick-win solutions to fund the implementation of a total enterprise solution. The flexible Retek Integration Bus (RIB) enables retailers to maximize legacy systems while implementing new modules to provide high-impact return on investment. Retek 10 also provides predictive analysis technology for flexible forecasting, planning and execution. This patented technology has been proven in retail and other high-transaction volume industries.
· Adaptive technology platform
Retek 10 enables retailers to integrate systems into one adaptive technology platform, making legacy and third party application integration faster and easier. It also makes upgrading system modules easier and reduces compatibility issues because all applications use a common interface. Retek 10 supports end-to-end visibility across retail, from store to warehouse, sustainable over time as the business grows and additional channels are added. Retek 10 also provides customers with the granular level of detail necessary to support planning, forecasting and optimization decisions. The Retek 10 technology platform also supports improved communications with a single sign-on retail focused graphical user interface (GUI).
· Innovative approach to best practices
Retek 10 has been developed in partnership with some of the world’s best retailers who set standards for the retail industry. Retek solutions are developed from the proven retail best practices of the industry. Retek 10 best practices focus areas include real-time sales and inventory visibility through the bus, faster access to information for improved decision making, optimization solutions and others.
“In the past, retailers were forced to choose either a best-of-breed approach or an integrated end-to-end solution, each with its own set of benefits,” says Steve Ladwig, president and CEO, Retek. “Retek 10 delivers, for the first time ever, a truly modular, integrated environment that also delivers the benefits of a best-of-breed solution.”
RETEK INTEGRATION BUS
Retailers’ demand for more information on customers, products and stores requires a highly scalable, integrated retail infrastructure in real-time mode that can handle the high volume of data. At the core of Retek 10 is the Retek Integration Bus (RIB), centralized high-volume transaction bus that supports real-time functionality and integration of other Retek and third party applications. The RIB’s message-based integration scheme enables real time visibility to sales and inventory, handles large transaction volumes and integrates with current environments. The Retek 10 modular architecture enables retailers to maximize their investment in legacy systems while implementing the Retek modules that provide high-impact ROI. Retek 10 makes it simple for retailers to replace their legacy systems with minimal intrusion, while investing towards a totally integrated retail foundation.
PARTNERS ENHANCE FUNCTIONALITY
Partner relationships further enhance the functionality of Retek 10. As part of Retek’s Scientific Retailing alliance with Accenture, the world’s leading management and technology consulting organization contributed their industry knowledge, intellectual property and patent-pending tools to help develop Retek 10. Scientific Retailing is designed to help retailers enhance sales growth and improve gross margin and inventory turns with a fact based, analytical approach to in-store optimization, assortment and space optimization and precision pricing solutions.
Retek partner IBM offers the IBM eServer p690, a complement to Retek 10 and an ideal platform on which to run retail applications. The p690 increases the range of IBM platforms for Retek solutions and provides customers with a highly reliable and scalable e-business infrastructure.
Retek 10 general availability is scheduled for March 2002.
About Retek Inc.
Retek Inc. is a leading provider of software solutions and services to the retail industry. Retek`s collaborative solutions help the retail industry create, manage and fulfill consumer demand. The RIS News Leaderboard 2001 ranked Retek the #1 software vendor for retail. Retek`s offering, Retek 10, encompasses Retek`s proven strategies, sophisticated software applications, patented predictive technology, unparalleled services, and the best practices of its customers and partners. Retek 10 provides retailers with the fastest path to sustainable business value. Many of the world`s leading retailers use Retek solutions, including A&P;, Tesco, Best Buy, Family Dollar Stores, Gap, Sainsbury`s, Eckerd Corp. and Kohl`s Department Stores. For more information, visit http://www.retek.com, or call 1-888-61-RETEK. Retek can be contacted in Europe at +44 20 7563 4646.
Retek and retail.com are trademarks of Retek Inc. Other names may be trademarks of their respective owners. Forward-looking statements contained in this press release are made under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Such factors are described from time to time in the company`s Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission.