Trax Image Recognition, a Singapore-based image recognition technology provider for retail, on Monday announced an agreement with AFS Technologies that will enable both parties to co-market their respective retail execution solutions to the Fast Moving Consumer Goods (FMCG) market as one fully integrated product solution suite.
The new partnership will provide AFS Technologies’s roster of over 1,000 global clients with immediate access to Trax’s real-time shelf analysis and reporting technologies via upgrade. In addition, more than 100 Key Performance Indicators (KPIs) collected by Trax algorithms will be accessible to AFS Technology clients using Discovery G2, the award-winning AFS Enterprise business intelligence solution.
"For more than 30 years, AFS has served the FMCG market with a fully integrated suite of products including ERP, WMS, DSD, Retail Execution, Trade Promotion Management and Data Visualization, and we have always made it a point to help our clients meet evolving business challenges by identifying new partners with best-of-breed technologies," said Kurien Jacob, CEO of AFS Technologies. “After reviewing various image recognition solutions in the market, Trax was technically the best option. Trax is the only provider with real-time, highly accurate digital merchandising, which can be embedded as an optional module within AFS Retail Execution, to will create a unique and exciting new cost effective solution suite for the market.
Trax’s image recognition technology provides accurate and highly detailed information about in-store retail execution in real-time, allowing immediate action and decision-making for retailers and FMCG brands. Sales and retail representatives simply use a smartphone to snap photos of relevant store display shelves, and Trax’s solutions will analyse and report on share of shelf, competitive insights, shelf standards, planogram compliance and promotional materials within minutes.
Through the Trax and AFS joint proposition, retailers will be able to quickly and easily adapt in-store strategies and tactics to stay ahead in the highly competitive retail game.