Amazon’s 18% Revenue Growth Fuels Rise on Deloitte Global Retail List

sourcingjournal | February 13, 2020

Walmart Stores Inc. and Costco Wholesale Corp. topped Deloitte’s list of the top 250 global retailers, with rival Amazon.com Inc. rising into the No. 3 spot. Strong sales growth helped Walmart, Costco and Amazon cement their dominant positions on the compilation for fiscal year 2018, the most recent year in which all publicly disclosed data

Spotlight

Food safety has long been a crucial concern for prepared food retailers. According to the US Food Code and most state and local health departments, one of two approaches to maintaining hot food safety must be used — Time Only or Time and Temperature — as a Public Health Control. For supermarkets in particular, where the “Ready-to-Eat” segment has become a key component of their strategy, the choice of which approach to use is now more critical than ever. The importance of food safety in today’s competitive environment cannot be over emphasized. Just a glimpse at the news only confirms this is the case. Fast casual dining chain Chipotle Mexican Grill started out the new year in 2016 with a federal subpoena following multiple outbreaks of foodborne illness.1 Same-store sales for the chain dropped by more than 14 percent over the preceding quarter, and overall sales were off by more than a third.


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POS SOLUTIONS

XTM Launches Stand Alone Tip Pool & Tip Share Automation Product

XTM | August 12, 2022

XTM, Inc. (“XTM” or the “Company”) (QB: XTMIF / CSE:PAID / FSE:7XT), a Miami and Toronto-based Fintech company in the neo-banking space, providing mobile banking and payment solutions around the world, is pleased to announce the release of a Tip Pool and Tip Share software product that accepts data sets from any time and attendance or POS platform. This feature allows restaurant owners and operators to leverage our Tip Pool/Share without an integration and be operative within a few hours of sign-up. The Tip Pool solution collects tips received by employees into a pool, and then automates the calculation and distributes on an organization-determined points basis to staff. The XTM Tip Share product automates the calculation and sharing of tips to other employees based on a percentage of net sales, saving operators time and money as well as providing staff with full transparency of the process. “The technology-agnostic premise upon which our Tip Pool and Tip Share solutions pull data is a significant and strategic innovation for our Engineering team, It aligns with our product road-map to provide enterprise solutions for all hospitality businesses large and small, regardless of their current product stack.” -Chad Arthur, CTO, XTM. Proper Tip allocation is critical to operators and staff; if not done correctly it can be a highly litigious function within hospitality organizations, said Marilyn Schaffer, CEO, XTM. This product is a true reflection of our commitment to provide the hospitality industry with products and solutions to make their businesses more efficient and profitable. About XTM: XTM, is a Miami and Toronto-based fintech innovator in the neo-banking space, helping businesses and service workers in the hospitality and personal care space disseminate and access earned wages and gratuities. XTM's Today™ Solution, comprised of a free mobile app and a Visa or Mastercard debit card with free banking features, is used by thousands of restaurants, salons and staff across Canada and the United States. XTM is a global card issuer and real-time payment specialist. Our technology is used by Restaurants, Salons and service staff at no charge to automate and expedite Earned Wage and Gratuity Access, increasing time and attendance and eliminating cash from ecosystems. XTM's Today solution drives operational efficiencies and delivers a bespoke user experience designed specifically for service workers.

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POS RETAIL

B-Stock Announces ReverseLogix as Returns Management Solutions Partner

ReverseLogix | June 10, 2022

ReverseLogix, a provider of end-to-end returns management systems, today announced a partnership with B-Stock, the world's largest business-to-business marketplace for returned, excess, and other liquidation merchandise. The partnership provides merchants with ReverseLogix's powerful returns management solution (RMS) that empowers sellers to centrally manage eCommerce product returns with B-Stock's industry-leading platform to sell and buy customer returns, overstock, and other excess merchandise. As consumers spend more time and money shopping online, retailers are looking to technology to help them orchestrate and automate product returns operations. With global eCommerce sales estimated to top $7 trillion dollars by 2025 (Statista), reverse logistics technology presents a significant opportunity for organizations to offer a well-managed customer experience beyond the initial point of sale through a returns experience that is easy for the customer and cost-efficient for the retailer. "In today's eCommerce-driven world, returns management is critical to improving profitability and delivering a superior customer experience, From providing a totally self-service returns initiation to streamlining returns processing in the warehouse, to after-sales care and resale, the ReverseLogix RMS directly addresses the need for better consumer returns experiences and more efficient returns management operations. We are thrilled to collaborate with B-Stock who, like ReverseLogix, is focused on delivering solutions that deliver true business value." -Gaurav Saran, CEO of ReverseLogix. "As a 2-sided marketplace, B-Stock provides business value to the world's largest retailers and manufacturers by allowing them to outsource their returns process to B-Stock to drive high recovery, and operational efficiency, at a fraction of the cost it would require managing the process internally, In addition to the value to large sellers, B-Stock empowers the entrepreneurs of commerce in the form of the growing number of medium to small businesses who bid and buy on B-Stock to secure the inventory they need for their resell businesses. B-Stock's platform and recommerce expertise, combined with ReverseLogix returns management software, provides an innovative approach to optimize the entire returns process." -Sean Cleland, Vice President to Sales and Partnerships. About B-Stock B-Stock is the world's largest B2B recommerce marketplace for excess [or surplus] merchandise. Businesses of all sizes leverage the B-Stock platform to sell and buy customer returns, overstock, and other excess merchandise. Our customers range from the world's largest brands and retailers (including nine of the top 10 U.S. retailers) who want best-in-class inventory management to entrepreneurs looking to source valuable merchandise for their resale businesses. B-Stock believes there is tremendous value in and demand for this inventory – no matter the category, condition, or location. We pride ourselves on empowering the entrepreneurs and innovators of commerce. Having completed over 225,000 transactions in 2021, B-Stock gives buyers a simple and direct way to buy valuable products and offers sellers a trusted replacement for traditional liquidation while boosting operational efficiency, recovery rates, and cycle time. About ReverseLogix ReverseLogix is the only end-to-end, centralized, and fully integrated returns management system built specifically for retail, ecommerce, manufacturing and 3PL organizations. Whether B2B, B2C or hybrid, the ReverseLogix platform facilitates, manages, and reports on the entire returns' lifecycle. Organizations that rely on ReverseLogix deliver a vastly superior customer returns experience, save employee time with faster workflows, and increase profits with 360⁰ insight into returns data.

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RESTAURANT POS

Givex Hong Kong Announces Launch of GivexPOS in Fine Dining Restaurant with Three Michelin Stars

Givex | July 14, 2022

Givex Information Technology Group Ltd. announced today the upcoming mid-July launch of GivexPOS in a fine dining restaurant with three Michelin stars in Hong Kong, the first in a five-unit, multi-branded restaurant group. "In the last 20 years, Givex has proven to be a global tech leader, with more than 100,000 active locations that utilize our POS, gift card, loyalty and other products, Our recent new partnerships in Hong Kong show that GivexPOS is successful in markets across the globe, and in all types of restaurants, from QSRs to fine dining establishments and everything in between. Givex delivers the technology innovation that our partners strive for, We are thrilled to be expanding our reach in Asia, and look forward to being a key partner in our clients' growth." -John Sydoruk, Givex Managing Director, AsiaGivex. Givex is a comprehensive global customer engagement and business insights platform. In addition to GivexPOS, Givex offers gift card and loyalty programs, payment systems and robust analytics to help its clients make efficient business decisions. The recent partnerships in Hong Kong mark the next step in Givex's continued international growth. About Givex- Givex (TSX: GIVX;OTCQX: GIVXF) is a global fintech company providing merchants with customer engagement, point of sale and payment solutions, all in a single platform. We are integrated with 1000+ technology partners, creating a fully end-to-end solution that delivers powerful customer insights. Our platform is used by some of the world's largest brands, comprising approximately 100,000+ active locations across more than 100 countries.

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POS SOLUTIONS

SEB & Everyday People Financial Partner to Launch Health Spending Account Mastercard® Program Across North America

SEB Administrative Services Inc. | May 31, 2022

SEB Administrative Services Inc. (“SEB Admin”), a subsidiary of Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) (OTCQB: SEBFF), an Insurtech provider of cloud based, end-to-end IT and Benefit Processing solutions for the life and group benefits marketplace and government, is pleased to announce that it has signed a letter of intent with Everyday People Financial Inc. (“EP” or “Everyday People”), a financial technology and consumer financing company, to launch a bespoke healthcare spending account program, offering a challenger product to traditional employer health spending accounts. Healthcare spending accounts help business owners save on medical costs by turning an after-tax personal medical expense into a before-tax business expense. This plan is a smart and efficient option for the modern-day entrepreneur. It also helps the plan member minimize coverage gaps between government funded health care and other health insurance options. The health spending account is particularly applicable to small companies and self-employed business owners. There are over 1.2M small businesses in Canada. Over 97.0% of all businesses in Canada are small businesses. In Canada, small business represents over 15.0M employees, and 2.5M gig workers. The Mastercard® Healthcare Spending Account (“HSA”) solution is unique to the Canadian marketplace. EP and SEB are the first to introduce into the Canadian market this integrated membership-based employee healthcare spending account and credit card program. This program represents a large specialty opportunity targeting the HSA market, currently estimated at over $8 billion premium in Canada. The objective is to capture a minimum of 20% market share in the overall HSA Canadian marketplace. “This innovative program will streamline operations, increase accuracy and boost efficiency, and offers employees a reduction of out-of-pocket burden and costs normally associated with traditional health spending accounts. Members of this HSA program are issued a spending account for health care and wellness services tied to a Mastercard®. This provides more financial flexibility in managing health care options and an improved customer experience, allowing immediate reimbursement of health care expenditures at the point of sale.” -States Mohamad El Chayah, COO of SEB and President & CEO of SEB Administrative Services Within the joint venture, EP will operate as the program manager and SEB will operate as the HSA program administrator and adjudicator. SEB has an established customer base of employers who use SEB’s proprietary SaaS-based benefit solutions to self-administer health benefit programs for their employees. “A joint venture with SEB to offer a health spending account program for small business owners and their employees is yet another way that EP, along with one of its partners, provides people with greater financial flexibility. Giving small business employees access to a blended credit card health spending account helps fill coverage gaps, allows individuals to manage healthcare spending and direct funds according to their personal life situation. The solution provides an instant, easy to use, efficient method of transacting in the form of a credit card based platform. Today, EP offers similar specialty credit payment card solutions in multiple markets. The HSA solution adds to EP’s extensive digital banking solutions portfolio.” -States Barret Reykdal, CEO of EP, About SEB Administrative Services Inc.: SEB Administrative Services Inc. (“SEB Admin”), a wholly owned subsidiary of Smart Employee Benefits Inc. (“SEB”), is a third-party administrator (“TPA”) providing leading edge cloud-based, fully bilingual, benefit processing solutions using SEB Admin’s proprietary and customized technologies, solutions and services of Partners. SEB Admin’s “FlexPlus” platform provides single sign-on connectivity for all group benefit stakeholders. FlexPlus® has over 20 modules supporting multiple revenue models, capturing over 90% of all benefit processing activities for all benefit types. Each module can operate standalone or as an integrated solution. SEB Admin manages benefit plan environments for more than 50 of Canada’s name brand companies and government entities. SEB Admin has over 370,000 plan members under administration and more than 160,000 additional plan members under contract and in transition; in total representing more than $1.3B of premium. FlexPlus® cloud-enabled solutions support all plan designs – traditional, flex, cafeteria, hour bank, dollar bank, marketplace – via co-sourced, fully outsourced or SaaS models. Our solutions turn cost centers to profit centers for many of our clients and partners. About Smart Employee Benefits Inc.: SEB is an Insurtech company focused on Benefits Administration Technology driving two interrelated revenue streams – software/solutions and services. The Company is a proven provider of leading-edge IT and benefits processing software, solutions and services for the Life and Group benefits marketplace and government. We design, customize, build and manage mission critical, end-to-end technology, people and infrastructure solutions using SEB’s proprietary technologies and expertise and partner technologies. We manage mission critical business processes for over 150 blue chip and government accounts, nationally and globally. Over 90% of our revenue and contracts are multi-year recurring revenue streams contracts related to government, insurance, healthcare, benefits and e-commerce. Our solutions are supported nationally and globally by over 600 multi-certified technical professionals in a multi-lingual infrastructure, from multiple offices across Canada and globally.

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Spotlight

Food safety has long been a crucial concern for prepared food retailers. According to the US Food Code and most state and local health departments, one of two approaches to maintaining hot food safety must be used — Time Only or Time and Temperature — as a Public Health Control. For supermarkets in particular, where the “Ready-to-Eat” segment has become a key component of their strategy, the choice of which approach to use is now more critical than ever. The importance of food safety in today’s competitive environment cannot be over emphasized. Just a glimpse at the news only confirms this is the case. Fast casual dining chain Chipotle Mexican Grill started out the new year in 2016 with a federal subpoena following multiple outbreaks of foodborne illness.1 Same-store sales for the chain dropped by more than 14 percent over the preceding quarter, and overall sales were off by more than a third.

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