JUNE 24, 2002 -- PHILADELPHIA, PA -- Slingshot Solutions today unveiled Slingshot 3.0, new merchandising software that allows vendors to receive optimal financial return when selling new or liquidating excess merchandise.
The Slingshot system automates and manages all of the activities associated with using high-return online auctions (such as eBay) and B2B exchanges as strategic distribution channels. As a result, Slingshot Solutions enables both large-scale enterprise and small business customers to secure incremental sales or, when used for liquidation, obtain more than two times the gross recovery achieved through traditional channels. The company currently serves a broad range of industries, including apparel retailers, general merchandisers, and sellers of consumer electronics.
FEATURES INCLUDE FULL INTEGRATION WITH EBAY API, NEW SYSTEM INTEGRATION AND MERCHANDISING OPTIONS
Slingshot 3.0 features certified integration with eBay`s proprietary Application Programming Interface (API), allowing Slingshot`s software to interoperate seamlessly with eBay servers for faster, more efficient and secure transaction and data processing. As both Slingshot and eBay technologies evolve, the API certification ensures that the systems will work perfectly together.
The integrated Slingshot/eBay auction management platform will allow Slingshot to quickly develop new feature-rich software applications to better serve eBay buyers and sellers. Other new Slingshot 3.0 features provide easy integration with existing inventory and merchandising systems; new sales channel options, such as cross-selling, bundling, private labeling and other merchandising opportunities; new market analytics and rules engine features that allow auction parameters to be easily changed in real-time; and improved security and customer service components.
SLINGSHOT 3.0 FEATURES
FULLY INTEGRATES WITH NEW AND LEGACY INVENTORY, FULFILLMENT, MERCHANDISING MANAGEMENT AND SHIPPING SUPPORT SYSTEMS
Slingshot 3.0 offers allows customers to easily integrate the Slingshot system with their existing inventory systems, fulfillment partner warehouses, coupon and merchandising management systems, and shipping support systems to streamline sales and liquidation activities.
BOOSTS PRODUCT SALES VIA CROSS-SELLING, BUNDLING, & MERCHANDIZING FEATURES
Slingshot 3.0 helps drive additional sales by leveraging valuable cross-selling, bundling, and merchandising features that encourage consumers to purchase complementary products. To reduce channel conflict and increase sales potential, companies can advertise products found at other sites to winning bidders upon auction completion.
The sophisticated system also supports sales of bundled products to further increase sales. In addition, consumers can opt in to receive merchandise promotions, such as coupons and rebates, driving them to use other channels.
PROTECTS AGAINST BRAND OR CHANNEL CONCERNS WITH PRIVATE LABELING
Slingshot 3.0 allows customers to quickly incorporate an existing brand into auctions or develop completely new "masked" brands within the Slingshot Solutions architecture. The auction template, checkout process, and all other consumer-facing components reflect each customer`s desired branding.
PROVIDES MARKETPLACE ANALYTICS AND MULTI-MARKETPLACE SUPPORT FOR HIGHER RETURNS
The Slingshot 3.0 system collects data on each transaction to better analyze cost-recovery performance. Data tracked includes pricing, close times, and marketplace statistics, such as degree of market saturation. Using this data, customers can fine-tune auction parameters to optimize cost recovery based on market conditions. Slingshot 3.0 also enables customers to take advantage of multiple online consumer auctions and B2B exchanges to gain access to even greater numbers of consumers to optimize returns.
OPTIMIZES AUCTION RETURNS THROUGH SOPHISTICATED RULES ENGINE
Slingshot 3.0`s rules engine provides real-time system flexibility to optimize auction returns. Customers can customize the application`s business logic to immediately address changing market conditions without writing additional code. By leveraging this flexibility, customers can accommodate their unique business constraints and optimize auction activity as it occurs based on real-time analysis of consumer bidding behavior.
PROVIDES TIGHTER CONTROL OVER DATA ACCESS WITH ENHANCED SECURITY
Improved security features provide access and control at the individual transaction level, ensuring that only authorized eyes view critical data.
SPEEDS CUSTOMER SERVICE PROCESS WITH NEW INTEGRATED SERVICE COMPONENT
A new customer service component tracks issues across multiple levels, including at the inventory, auction, and order levels. As a result, representatives can provide customer service more effectively and with increased contextual understanding.
SPECIFICATIONS, PRICING AND AVAILABILITY
Based on the Java 2 Platform (J2EE), Slingshot 3.0 provides extensive system flexibility and management. The software runs on a number of J2EE application servers and can operate on a variety of relational database systems. The application functions on Linux, Solaris and Windows.
The software is immediately available, with pricing dependent upon level of service, such as on-site installation versus partially or fully-outsourced services. For more information, contact Slingshot at 215.717.0919; info@slingshotsolutions.com.
ABOUT SLINGSHOT SOLUTIONS
Slingshot develops patent-pending inventory and merchandising software that helps manufacturers, retailers, and wholesalers achieve the highest possible sales returns on new, excess, refurbished, and returned products. Its technology leverages existing marketplaces such as eBay, Yahoo!, and Amazon to optimize returns on any volume of any product, in any condition, at any stage of the product lifecycle. Slingshot Solutions is supported by Genco Distribution System, private investors, and the Commonwealth of Pennsylvania`s Ben Franklin Technology Development Authority and the Ben Franklin Technology Partners of Southeastern Pennsylvania. Founded in 2000, Slingshot Solutions is headquartered in Philadelphia, PA. More information can be found at www.slingshotsolutions.com.
CONTACT
Ben Samson
215.717.0919
ben@slingshotsolutions.com
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