Men’s wear retailer Tailored Brands Inc. said it selected retail technology solution provider Aptos Inc.’s sales audit product in an effort to streamline financial transaction auditing processes. The investment, which was not disclosed, comes as the retailer continues to expand its omnichannel offerings across its brands, which includes Men’s Wearhouse, Moores, Joseph Abboud and Jos. A. Bank, among others.
Aptos’ sales audit solution is designed to improve financial visibility as well as help retailers execute better informed merchandising and financial decisions in an environment that includes sales across multiple channels.
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“The company will leverage Aptos sales audit to validate and relay accurate and timely transaction information throughout the enterprise, integrating data from its point-of-sale and legacy back-end systems, for improved decision making, streamlined operations and reduced costs,” the companies said.
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Uma Bhemisetty, senior vice president and interim chief information officer at Tailored Brands, said the solution is expected to provide “a unified view of our enterprise financial transactions across all channels and brands.” Bhemisetty added that this will give “our finance team the ability to easily quantify and qualify our financial performance in all areas down to the individual store level so we can continue to enhance our global omnichannel retail strategy.”
Having clarity of financial performance on a store level was one of the key themes of the solutions offered from several hundred vendors last month at the National Retail Federation’s “Big Show” in New York. Retailers and fashion brands are increasingly making investments in technology that can bolster visibility across the supply chain to include inventory management, pricing and sell-throughs in stores and online.
Noel Goggin, chief executive officer of Aptos, said his company’s solution “will empower Tailored Brands to make informed decisions based on accurate audit activity and analytics while streamlining and validating sales data from all channels.”
Currently, Aptos serves over 500 retail brands globally with its platforms.