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Solution Delivers Flexible Applications on an Open Technology Platform to Support Improved Customer Service While Reducing Operating Costs
MINNEAPOLIS - March 5, 2003 æ Retek Inc. (Nasdaq: RETK) announced today the availability of Retek“ Integrated Store Operations‘ solution (ISO). ISO is a 100 percent Java based solution that delivers store level applications, leveraging a common technology infrastructure. ISO is designed to streamline store operations and support increased customer service levels, while dramatically reducing the total cost of technology ownership. In a recent deployment of ISO, the cost of maintaining various IT operations in the store was quickly cut in half.
The ISO solution is a group of in-store operations applications that use and share common business logic, configuration utilities and technology infrastructure. The solution has three unique characteristics:
-- Its applications support a wide range of store functions, including POS (point-of-sale), labor management, cash management and inventory management, all delivered through an extremely flexible and leading-edge technology platform.
-- It is faster to deploy and easy to use, reducing training time and implementation expense.
-- The applications are proven to simplify store operations by improving customer service and decreasing costs.
Applications leveraging the ISO platform currently include: Retek“ Point-of-Sale‘, Retek“ Labor Management‘, Retek“ Cash Management‘ and Retek“ Store Inventory Management‘, enabling retailers to select applications to match their business requirements. By delivering the entire solution using a single, Java-based technology platform and established industry standards, retailers are provided with an extremely flexible solution, which easily integrates with legacy applications while preserving an upgrade path.
Peter Baskin, vice president of store strategy with Retek stated, "Flexible deployment of technology at the store is a focus area for many retailers for two primary reasons. In a difficult trading environment, retailers are seeking solutions that can cut operating costs or improve customer service. Retek Integrated Store Operations delivers both, and is validated through successful deployment in the market."
About Retek Inc.
Retek Inc. (Nasdaq:RETK) is the leading provider of mission-critical software and services to the retail industry. Retek solutions integrate collaborative software with patented predictive technologies, consulting services, and the best practices of customers and partners to help retailers create, manage and fulfill consumer demand. Leading global retailers including Tesco, Best Buy, Gap Inc., Sainsbury`s, Eckerd Corp. and Selfridges use Retek solutions. Visit Retek on the web at Retek at www.retek.com.
Retek is a trademark 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.