CVS/Caremark Deploys Soft Solutions´ Pricing, Analytics, Vendor and Store Applications After Master Data Management (MDM) and Data Synchronization
CVS/Caremark Speeds up the 2nd Phase of Soft Solutions ibs SUITE Deployment
Soft Solutions announces that CVS/Caremark has selected Pricing as
the next module in the Soft Solution suite to deployed in response to
its fast growing business needs and objectives. The module will be
based on the data quality of ibs REFERENTIAL and ibs DATA SYNC (Soft
Solutions Master Data Management) currently being delivered to address
CVS/Caremark PIM requirements.
CVS/Caremark embarked on a large legacy replacement program in
2007 with Soft Solutions´ ibs SUITE to manage their Master Data
Management (MDM) and Merchandising requirements such as Item, Vendor,
Pricing, Promotions, Deals, Assortment, and Category. This ambitious
schedule involves removing their multiple duplications and replace
legacies efficiently by this new infrastructure to streamline their
process yet allowing for flexibility and growth.
ibs PRICING provides CVS/Caremark with advanced price optimization
and management functionalities such as competitor management,
rules-based simulation and price execution in a single platform. ibs
ANALYTICS embedded forecasting engine provides ibs PRICING the
forecasting and optimization capabilities to manage over 6,300 stores
for CVS/Caremark. The same engine is also used to manage promotional
requirements. ibs SUITE´s Vendor and Store is to be their single
repository and master data reference.
"We have selected Soft Solutions for their strong retail
footprint, and to accompany us in implementing our application
strategy," states Ray Auger, vice president of CVS/ Caremark Retail
Systems. "Phase 1 is tracking to plan despite an aggressive deployment
schedule. Both companies are working diligently to meet our business
needs," adds Auger.
"The CVS/ Caremark project represents a strategic foundation for
their global business in the coming years," says Nehme Taouk, chief
executive officer of Soft Solutions. "We are confident that we meet
their requirements in terms of business, time, expertise and quality
due to our product maturity and experience in delivering complex
projects the past 20 years," adds Taouk.
Soft Solutions´ team continues the implementation with both
CVS/Caremark and Tata Consultancy Services (TCS) teams, leveraging the
work done together in 2007 in terms of data quality and integration.
ABOUT SOFT SOLUTIONS
Soft Solutions is a leading provider in global retail intelligent
solutions in merchandise management and decision support. Its clients
are multi-divisional, multi-format Tier 1 retailers and manufacturers
including Carrefour, CVS, Canadian Tire Retail, Capelli New York,
Mosmart, Auchan, Group Louis Delhaize, B&Q, Kingfisher,
Pinault-Printemps-Redoute, and Galeries Lafayette. With consistent
delivery of measurable top and bottom line business results, Soft
Solutions is uniquely positioned to provide global best practices and
industry-leading solutions for the fast paced, competitive environment
of retailers worldwide. For more information, please connect to
www.ibs-softsolutions.com.
ABOUT CVS CAREMARK
CVS Caremark is the largest provider of prescriptions and related
health care services in the nation. The Company fills or manages more
than 1 billion prescriptions annually. Through its unmatched breadth
of service offerings, CVS Caremark is transforming the delivery of
health care services in the U.S. The Company is uniquely positioned to
effectively manage costs and improve health care outcomes through its
6,300 CVS/pharmacy stores; its pharmacy benefit management, mail order
and specialty pharmacy division, Caremark Pharmacy Services; its
retail-based health clinic subsidiary, MinuteClinic; and its online
pharmacy, CVS.com. General information about CVS Caremark is available
through the Investor Relations portion of the Company´s website, at
http://investor.cvs.com, as well as through the pressroom portion of
the Company´s website, at www.cvs.com/pressroom.