Sky IT Group, a provider of retail business intelligence solutions, has announced a partnership with Saks Fifth Avenue.
SKYPAD will improve the retailer’s vendors selling data distribution processes, and empower its brand partners by providing timely and consistent visibility into selling activity data. Merchants and brands alike will be granted access to product-level insights within a self-serve and collaborate reporting platform.
The goal of SKYPAD is to enhance buyer and supplier collaboration, strengthen business insights and capitalize on re-order opportunities in an effort to maximize sales potential and reduce markdowns. The technology grants merchants and brand partners secure, online access to view their product sales activity from a single centralize repository. It aims to enhance the speed, consistency and accuracy of data sharing to ensure the consumer has access to the right product at the right time.
“We are continuously looking at ways in which we can drive productivity, enhance collaboration, and strengthen business insights,” said Tracy Margolies, chief merchant, Saks Fifth Avenue. “The data that SKYPAD's platform delivers will enable our merchants to connect with our vendor-partners in a more efficient manner, helping us to better meet our ultimate goal of delivering our customers an unparalleled shopping experience.”
“SKYPAD has partnered with some of the most forward-thinking luxury retailers in the world, such as Saks Fifth Avenue, who appreciate the value that collaborative analytics,” added Jay Hakami, president and CEO of Sky IT Group. “With SKYPAD, the conversation between buyer and seller is based on the accurate insights, trends, and ‘one vision of the truth’ that will drive increased profitability for the retailer and supplier.”