Company Release, September 22
Polaris Retail Infotech Ltd (PRIL), a leading retail software provider and a wholly owned subsidiary of Polaris Software Lab Ltd, has launched Retail Excel, a retail software for small and medium sized retailers. With this, PRIL has extended its IT solutions for the retail market to include both large corporate retailers and small and medium sized retailers.
“Organized retailing in India is poised for a big leap and technology will be the key enabler. We have a mission to offer affordable cutting edge proven technology which enables our small and medium sized retailers to successfully face the competition,” says Aruna Kashinath, Managing Partner, Polaris Software Lab Ltd.
The Retail Excel software will be pre-customized for 5 retail categories – Apparel, Saree shops, Footwear, Grocery Supermarkets and Departmental stores.
“Small and medium retailers have specific needs—they want to manage inventory better, minimize stored stock and pilferage, and recover their cost of investment rapidly,” says Mukesh Mathur, Director, PRIL. “Retail Excel is a powerful easy-to-use software, which allows small and medium retailers to reap immediate benefits. The backing of Polaris and our affordable pricing, makes it a real 'Paisa Vasool Technology.”
Retail Excel has currently been launched in Delhi and will soon be made available in Mumbai, Bangalore and Chennai. “We plan to set up a strong distribution channel in top 20 cities and are looking for partners who would like to grow with us” says Dilip K Jain, Head of Channels.
The organized retailing market, which is about 2-3% of the total retail market, is estimated to be worth about Rs 15,000 crore today and is expected to grow to over Rs 50,000 crores by 2010. Recent policy changes including the potential inflow of FDI into the sector will attract both domestic and foreign corporate interest and increase the competition in the industry significantly.
“Today’s customers are very demanding, specially the high networth customers.” - says Hemant Bhardwaj, Senior Vice President-Marketing, Polaris. “Making the right product available at the right price under the right ambience, time and again, is retailers’ biggest challenge. And adoption of appropriate technology is the only way small and medium retailers can reduce the risk of losing their valued customers and to improve their profitability.
For further information, please contact:
Polaris Software Lab Ltd.