RELEX Demonstrates Continued Customer Momentum and Strategic Innovations
13 Agosto 2024 - 12:44PM
Business Wire
Company invests 25-30% of revenue into R&D,
as evidenced by the continuous advancements introduced in 2024
to-date, addressing customers’ challenges
Today, RELEX Solutions announced continued customer momentum and
strategic innovation across the company’s AI-driven supply chain
and retail planning portfolio during the first half of 2024. With a
focus on delivering consistent customer value, RELEX introduced new
product enhancements leveraging advanced AI and machine learning
algorithms, targeting some of the biggest challenges retailers,
manufacturers, and consumer packaged goods companies face in
today’s dynamic environment.
Strong customer and corporate momentum
In the first half of 2024, RELEX saw 37% year-over-year (YoY)
growth of reported subscription revenue, and total revenue growth
of 35% YoY.
RELEX also saw continued customer growth across all sectors,
with new and expanded customer signings across the globe, as a
variety of retailers and consumer goods companies recognize the
inherent value in the company’s supply chain and retail planning
solutions.
Since acquiring Optimity in January 2024, RELEX has also seen
very strong interest from the manufacturing and consumer packaged
goods segment for its supply chain optimization and production
planning capabilities, ideally suited to these complex
environments.
RELEX also continues to see high Net Promoter Score (NPS)
ratings amongst their customer base spanning 500-plus customers,
with a sustained company-high rating of 60. The average NPS score
for a SaaS company is around 40; RELEX consistently scores well
above the industry average and among retail and supply chain
planning vendors.
Innovation and product enhancements
RELEX invests 25-30% of revenue back into R&D, higher than
the industry average. As evidence, across the company’s AI-driven
supply chain and retail planning portfolio, RELEX introduced
several new capabilities during the first half of the year:
New or enhanced capabilities include the following:
- Price Optimization: new AI-driven price
optimization solution designed to empower retailers in setting
pricing rules, optimizing pricing strategies, and making informed
pricing decisions. The solution is seamlessly unified with RELEX
promotion planning, offering retailers a comprehensive and unified
solution for transparent decision-making.
- RELEX Mobile Pro: a new advanced in-store mobile
app that empowers store personnel, leveraging AI to improve store
efficiency and maximize sales and profitability. RELEX Mobile Pro
helps overcome fresh-specific challenges such as poor visibility,
availability, and product presentation to the consumer.
- Rebot: built on leading advancements in
generative AI, Rebot leverages the capabilities of OpenAI GPT-4 and
RELEX’s deep retail and supply chain expertise to boost
productivity, creativity, and decision-making for RELEX customers.
To date, Rebot has helped customers realize nearly 20% improvement
in productivity and has answered more than 100,000 questions since
originally launching in mid-2023.
- CO2 Analytics: automatically tracks and reports
the CO2 emissions of purchased goods – which generate the most
emissions in retail – by combining emission factors for products
using AI algorithms, with the data available in the RELEX platform.
This is significant as companies in the EU and California are now
mandated to report all Scope 3 emissions (defined as the result of
activities from the organization that indirectly affect the value
chain).
These capabilities are built atop the RELEX Platform, which
integrates AI and ML optimizations throughout all merchandising,
operations, and supply chain functions.
“Reflecting on the first half of the year, we're proud of the
continued growth within our customer base, a testament to our
unwavering commitment to driving value and efficiency for their
businesses and conversely, their trust in us, to deliver on what we
say we will do,” said Mikko Kärkkäinen, group CEO and co-founder,
RELEX Solutions. “We continue to prioritize and invest in
innovation, as evidenced by the enhancements delivered during the
first half of the year, with a robust roadmap for the remainder of
the year, and beyond, largely developed in collaboration with our
customers, seeking to address their challenges, and needs, as
immediately as we can.”
About RELEX
RELEX Solutions provides a unified supply chain and retail
planning platform that aligns and optimizes demand, merchandising,
supply chain, operations, and production planning across the
end-to-end value chain. We help retailers and consumer goods
companies like ADUSA, AutoZone, Coles, Dollar Tree and Family
Dollar, M&S Food, PetSmart, and The Home Depot drive profitable
growth across all sales and distribution channels, leading to
higher product availability, increased sales, and improved
sustainability. Learn more at:
https://www.relexsolutions.com/customers/
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240813791249/en/
Jolene Peixoto Vice President of Communications RELEX Solutions
Jolene.Peixoto@relexsolutions.com
Savannah Yawn Communications Manager RELEX Solutions
Savannah.yawn@relexsolutions.com