Profitect Continues to Expand Massachusetts Office

WALTHAM, Mass., Dec. 5, 2013 /PRNewswire/ -- Profitect, an Israeli founded company headquartered in Waltham, MA, announced today the continued expansion of its Massachusetts office.

(Logo: http://photos.prnewswire.com/prnh/20110712/NE33204LOGO ) 

The profit-amplification solution provider for retailers is looking to increase its workforce by at least 20% in 2014, with a focus on hiring in research & development and professional services to support increased demand from US and UK retailers.

"Our customers come first.  As demand for our solution increases we will continue to expand in order to best serve them and more efficiently meet their needs," said Guy Yehiav, CEO, Profitect. "The State of Massachusetts and Israel have a healthy, mutually beneficial business relationship, bolstered by Governor Deval Patrick's continued efforts to strengthen business ties between the state of Massachusetts and Israeli companies."

This announcement was featured at MassChallenge in Boston, which was an event with Massachusetts Governor Deval Patrick and Massachusetts and Israeli Business Leaders.  At the event the New England Israel Business Council released the finding of a new study that describes the multi-billion dollar impact of Israeli-founded companies on the Massachusetts economy, and the extraordinary spirit of collaboration and innovation between Massachusetts and Israel.  A whitepaper that details the research findings, titled "The Massachusetts-Israel Economic Relationship, 2nd Edition" is available at www.neibc.org. 

About Profitect
Profitect's Profit Amplification software, a pattern-seeking solution, enables retailers to quickly realize increased revenue and reduced costs across the entire retail supply chain.  Profit Amplification pattern-seeking algorithms can "tell a story" by identifying the root cause of anomalies such as inventory distortion, on-shelf availability, shrink/waste/damage, or process non-compliance – helping retailers minimize the effort necessary to identify controllable factors which the solution translates into action.  As a result, retailers can move quickly to prevent profit leakage at all levels of the organization, ultimately improving business processes and the top and bottom line. 

SOURCE Profitect