Appriss announced the acquisition of the retail loss prevention solutions from Verisk, a leading data analytics company serving the insurance industry, energy and specialized markets, and financial services. Verisk’s retail loss prevention portfolio has a broad and global client base of more than 70 retailers, many new to the Appriss family. This acquisition will be integrated into Appriss’ retail business unit, Appriss Retail.
Verisk’s retail loss prevention solutions include Aspect EliteLP™, APIS (Aspect Protection Information System), and (n)act™. Together, they bring to Appriss Retail a well-known product set and an experienced team of retail professionals, highly skilled in exception reporting and incident management solutions as well as retail operations and total loss analytics. This addition to the current Appriss and LP Software offerings further enhances Appriss Retail’s position as the premier retail analytics provider in the market.
“Joining the Appriss Retail organization is an incredible opportunity for us to leverage our more than 20 years of experience in providing leading retail solutions with a team that has led the way in using advanced analytics to protect the profits of retailers worldwide,” said Cheryl Blake, division president of Verisk Financial, Retail Solutions. “Our clients will benefit from the laser focus on the retail space while still enjoying the outstanding support that has been the hallmark of our team.”
Additionally:
• Appriss is committed to growing organically and via acquisition, recently surpassing 25 consecutive years of growth.
• Appriss celebrates an innovative culture, investing in its growth by tripling R&D spend in the past three years.
• Appriss Retail’s Software-as-a-Service (SaaS) solutions target the retail Global 1000 and drive action throughout the organization, including operations, finance, marketing, and loss prevention.
• Appriss Retail’s comprehensive platform for performance improvement yields measurable results with significant ROI among retail store, ecommerce, and inventory functions.
“The inclusion of Verisk’s retail clients now allows Appriss Retail to serve more than 300 of the largest, most advanced retailers in the world,” said Krishnan Sastry, chief operating officer of Appriss. “What we gain by serving such a large client-base is collective intelligence. This creates the combined knowledge that we are able to leverage through our platform and our world class data science team to deliver advanced analytics and predictive models that drive measurable performance improvements across many functions in each specific retailer.”
