Profitect Expands Massachusetts Research and Development Office

WALTHAM, Mass., Nov. 29, 2011 /PRNewswire/ -- Profitect, a profit-amplification solution provider for retailers, announced today the expansion of its Massachusetts office, growing its research and development division to support increased demand from U.S. retailers. The move will increase the company's research and development team by 50 percent once completed with new hires and the relocation of Profitect's existing research and development office in Israel.

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

"The expansion of our headquarters in Waltham, Mass., is in response to the increasing demand Profitect is seeing from North American retailers. The move will allow us to more effectively meet the needs of our growing customer base and will bring our research and development team together under one roof," said Guy Yehiav, CEO, Profitect. "The State of Massachusetts and Israel have a healthy, mutually beneficial business relationship, bolstered by Governor Deval Patrick's recent efforts to strengthen business ties between our state and Israeli companies."

In March, the Governor led a 10-day trade mission to Israel and the United Kingdom. Governor Patrick's venture was aimed at bringing more jobs to the Bay State through stronger international relationships. Israel is a major investor in the Massachusetts economy, with Israeli companies responsible for around 6,000 jobs and generating approximately $2.4 billion in economic activity in the state.

"Massachusetts is known world-wide for innovation and technology," said Secretary Joanne F. Goldstein. " I enjoyed meeting companies on the trade mission that were compatible with our vision, and look forward to growing new relationships to benefit Massachusetts businesses and our workforce."

About Profitect
Profitect's profit-amplification solution enables you to quickly discover and actualize untapped profit opportunities across the entire retail value chain. Profitect's algorithms quickly identify measurable profit optimization opportunities through the identification of value chain margin leakage, shrink, waste, process errors, and operational risks and damages — returning intelligent, prioritized actions for increasing profit. For more than 15 years, Profitect's expertise has successfully amplified profits for retailers worldwide and delivered immediate ROI supported by modular, quick, non-disruptive deployment of modern, scalable technology and time-tested best practices. With 100% customer success, Profitect consistently fulfills its commitment to deliver more than 5% percent profit increase within six months.

SOURCE Profitect