Company invests 25-30% of revenue into R&D, as evidenced by the continuous advancements introduced in 2024 to-date, addressing customers’ challenges
Today, RELEX Solutions announced continued customer momentum and strategic innovation across the company’s AI-driven supply chain and retail planning portfolio during the first half of 2024. With a focus on delivering consistent customer value, RELEX introduced new product enhancements leveraging advanced AI and machine learning algorithms, targeting some of the biggest challenges retailers, manufacturers, and consumer packaged goods companies face in today’s dynamic environment.
Strong customer and corporate momentum
In the first half of 2024, RELEX saw 37% year-over-year (YoY) growth of reported subscription revenue, and total revenue growth of 35% YoY.
RELEX also saw continued customer growth across all sectors, with new and expanded customer signings across the globe, as a variety of retailers and consumer goods companies recognize the inherent value in the company’s supply chain and retail planning solutions.
Since acquiring Optimity in January 2024, RELEX has also seen very strong interest from the manufacturing and consumer packaged goods segment for its supply chain optimization and production planning capabilities, ideally suited to these complex environments.
RELEX also continues to see high Net Promoter Score (NPS) ratings amongst their customer base spanning 500-plus customers, with a sustained company-high rating of 60. The average NPS score for a SaaS company is around 40; RELEX consistently scores well above the industry average and among retail and supply chain planning vendors.
Innovation and product enhancements
RELEX invests 25-30% of revenue back into R&D, higher than the industry average. As evidence, across the company’s AI-driven supply chain and retail planning portfolio, RELEX introduced several new capabilities during the first half of the year:
New or enhanced capabilities include the following:
- Price Optimization: new AI-driven price optimization solution designed to empower retailers in setting pricing rules, optimizing pricing strategies, and making informed pricing decisions. The solution is seamlessly unified with RELEX promotion planning, offering retailers a comprehensive and unified solution for transparent decision-making.
- RELEX Mobile Pro: a new advanced in-store mobile app that empowers store personnel, leveraging AI to improve store efficiency and maximize sales and profitability. RELEX Mobile Pro helps overcome fresh-specific challenges such as poor visibility, availability, and product presentation to the consumer.
- Rebot: built on leading advancements in generative AI, Rebot leverages the capabilities of OpenAI GPT-4 and RELEX’s deep retail and supply chain expertise to boost productivity, creativity, and decision-making for RELEX customers. To date, Rebot has helped customers realize nearly 20% improvement in productivity and has answered more than 100,000 questions since originally launching in mid-2023.
- CO2 Analytics: automatically tracks and reports the CO2 emissions of purchased goods – which generate the most emissions in retail – by combining emission factors for products using AI algorithms, with the data available in the RELEX platform. This is significant as companies in the EU and California are now mandated to report all Scope 3 emissions (defined as the result of activities from the organization that indirectly affect the value chain).
These capabilities are built atop the RELEX Platform, which integrates AI and ML optimizations throughout all merchandising, operations, and supply chain functions.
“Reflecting on the first half of the year, we’re proud of the continued growth within our customer base, a testament to our unwavering commitment to driving value and efficiency for their businesses and conversely, their trust in us, to deliver on what we say we will do,” said Mikko Kärkkäinen, group CEO and co-founder, RELEX Solutions. “We continue to prioritize and invest in innovation, as evidenced by the enhancements delivered during the first half of the year, with a robust roadmap for the remainder of the year, and beyond, largely developed in collaboration with our customers, seeking to address their challenges, and needs, as immediately as we can.”
The post RELEX Demonstrates Continued Customer Momentum & Strategic Innovations first appeared on AI-Tech Park.
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