LOUISVILLE, KY – Appriss Inc., a leading provider of data, risk assessment and analytic solutions for government, health care, and retail industries, today announced it has acquired Sysrepublic, a global provider of analytics for retail businesses. Sysrepublic will be merged into the retail division of Appriss, The Retail Equation, creating a single market leader in both retail exception-based reporting and return fraud solutions.
With offices in Los Angeles, London and Warsaw, Sysrepublic is best known for its suite of advanced exception reporting, case management, and real-time integration tools. These solutions enable retailers to identify, prevent, and investigate retail fraud and operational breakdowns, thereby reducing shrink and loss and maximizing profits.
“Merging Sysrepublic into The Retail Equation forms the nucleus of the retail business unit within Appriss; the combined data and technology opens up an expansive set of innovative solutions for retailers,” said Mike Davis, CEO at Appriss. “This initiative will create key learnings that will strengthen our strategy to address crime and risk in all industries.”
The combined organization will offer the best of both companies’ product lines – real-time predictive analytics and post-transaction preventive analysis, consumer fraud prevention and employee fraud prevention – in a data-driven, retail analytics solution across a global footprint.
“The Retail Equation and Sysrepublic together will make for a unique combination in the market,” said Joseph LaRocca, President of Retail Partners and Industry Analyst. “The joint analytics capabilities can bring significant benefit to companies now, and could lead to broader innovation in the long term.”
According to David West, Sysrepublic Group CEO, shrink averages 1.42 percent of retail sales globally. "Our solutions help retailers around the world prevent loss due to shrink and operational issues, which protects profits," West added.
“Inventory shrink represented more than $44 billion in lost sales to U.S. retailers last year alone,” said Nathan Smith, Sysrepublic Chief Executive Officer, Americas. "In addition to our current shrink solutions, our relationship with Appriss and The Retail Equation will allow us to combine the expertise of market-leading companies in order to deliver new, innovative solutions to the global retail industry."
“We believe that Appriss, The Retail Equation, and Sysrepublic all bring unique capabilities that, together, provide a powerful improvement to the shopping experience by identifying and curbing employee dishonesty, consumer fraud, and organized crime within retail,” said President Mark Hammond of The Retail Equation.
Appriss provides data-driven solutions to fulfill our mission of keeping communities safe and informed. Partnering with public safety, government, healthcare, and the commercial market, Appriss delivers solutions that prevent fraud, mitigate risk, fight crime, ensure compliance, increase public safety and save lives. Appriss’ solutions are always backed by excellent customer support with technical agents in the U.S. that are available to help 24x7x365.
About The Retail Equation
The Retail Equation optimizes retailers’ revenue and margin by shaping behavior in every consumer transaction. The company’s solutions use predictive analytics to prevent fraud and abusive returns and then turn each individual shopper’s purchase or return into a more profitable experience. This yields immediate financial payback, increasing store comps by as much as 2 percent, with significant return on investment. The Software-as-a-Service applications operate in more than 34,000 stores in North America, supporting a diverse retail base of specialty apparel, footwear, hard goods, department, big box, auto parts and more.
For more information about The Retail Equation, visit www.theretailequation.com.
Sysrepublic was founded by a team of highly successful IT retail experts in 2002 and is currently considered a global retail data analytics leader. The company leverages proprietary integration systems and database structuring to provide a comprehensive analytical view of user actions and process inefficiencies across a variety of risk areas including: point-of-sale, supply, inventory, finance, pharmacy, returns, and human resources. Sysrepublic’s RTI and Secure analytics solutions processed more than 23 billion transactions in 2015. The company has offices in Los Angeles, London and Warsaw.