Poundstretcher signs new five-year agreement with Symphony RetailAI

UK discount retailer to undertake major cloud migration supporting ambitious growth plans and to improve inventory visibility from warehouse to store

LONDON and DALLAS – Nov. 28, 2019 – Symphony RetailAI, the leading global provider of AI-enabled retail solutions and customer-centric insights for retailers and CPG manufacturers across the entire value chain, today announced a five-year Software-as-a-Service (SaaS) contract with Poundstretcher which will see the discount retailer migrate its 460-store supply chain to the cloud.

Poundstretcher has been successfully running its warehouse operations for more than a decade using Symphony RetailAI warehouse management and voice solutions, but with aggressive growth plans the retailer required a fast and easy way to move ahead. The new agreement will see the company upgrade its existing warehouse solution via the cloud, enable new ways of picking using smart technology, enable more complete insights into the business, and streamline the rest of its operational technology.

As part of this process, over the next 12 to 18 months Poundstretcher will be revamping and standardising its master data management, which will lay the foundation for an upgrade of its supply chain backbone. Next, it will equip store personnel with mobility solutions containing data insights capabilities that will enable inventory management from anywhere on store premises. In addition, Poundstretcher will implement business dashboards that will give real-time visibility across its complete portfolio – from warehouse to store. The final phase will include the rollout of automated store allocation and replenishment.

Executive Chairman Nadir Lalani at Poundstretcher said: “We are investing in our IT infrastructure to ensure that our business is underpinned by technology that is flexible, reliable and low-risk. This upgrade provides us with peace of mind for the next five years and gives us a stable platform on which to build as the business grows.”

Arnaud Gauthier President & CCO EMEA at Symphony RetailAI added: “It’s a testimony to our team and our products that Poundstretcher has continued – and increased – its commitment to Symphony RetailAI. With a new cloud platform and extended functionality, we look forward to working alongside Poundstretcher as it strengthens its position in the UK market.”

 

About Symphony RetailAI
Symphony RetailAI is the leading global provider of role-specific, AI-enabled revenue growth management solutions and customer-centric insights for retailers and CPG manufacturers across the entire value chain. Our proven, industry-leading, AI-enabled software, coupled with the industry’s only conversational natural-language AI interface, CINDE, provides key users with proven prescriptive and preemptive recommendations that make it easy to identify end-to-end growth opportunities, activate plans, and realise measurable profit and revenue growth. Our solutions are specific to key decision-maker roles focused on profitable growth across the retail value chain from source to consumer. With our strong global partner ecosystem, we serve more than 1,200 organisations worldwide – including 15 of the top 25 global grocery retailers, 25 of the top 25 global CPG manufacturers, thousands of retail brands, and hundreds of national and regional chains – all through the Microsoft Azure Cloud. Symphony RetailAI is a SymphonyAI company. More at www.symphonyretailai.com.

Connect with Symphony RetailAI and CINDE on social media:
Twitter: @CINDE_AI
LinkedIn: https://www.linkedin.com/company/symphonyretailai/
Facebook: https://www.facebook.com/SymphonyRetail/

About SymphonyAI
SymphonyAI Group is the fastest-growing private group of B2B AI companies, backed by a $1 billion commitment to deliver next-generation AI solutions for transforming the enterprise. Since its founding in 2017, SymphonyAI Group has grown rapidly to a group of six companies with a combined revenue run rate approaching $300 million. Over 1,600 talented leaders, data scientists, and other professionals operate the group under the leadership of one of Silicon Valley’s most successful serial entrepreneurs, Dr. Romesh Wadhwani. Website: www.symphonyai.com

About Poundstretcher
Poundstretcher was established in 1981 and is the UK’s leading multi priced discount retailer giving customers big brands at big discounts, with over 5,000 products at some of the lowest prices on the high street. There’s over 460 stores nationwide stocking a wide range of great value products at low prices, including kitchenware, bedding, bathroom products, furniture and children’s toys.
Employing 6,500 people nationwide, Poundstretcher strives to offer great service and choice to customers. More at www.poundstretcher.co.uk

Media Contact
Lee Simpson
Fourth Day PR (for Symphony RetailAI)
lee.simpson@fourthday.co.uk
+44 (0)20 7403 4411