Mr. Fields: Park City Group is a software-as-a-service provider that brings a unique visibility to the consumer goods supply chain. We bring actionable information to our customers, suppliers and retailers to be certain that the product that they are both selling is on the shelf when the customer expects it. The net result of the service that we provide is that our customers' sales and profitability increase at the same time that they both experience lower inventory levels and better visibility into their total supply chain.
TWST: Last year Park City Group acquired Prescient Applied Intelligence. How has Park City performed against expectations over the last 12 to 18 months?
Mr. Fields: At the time of the acquisition of Prescient, which was the only third-party provider in the world of what's called "scan-based trading," the goal was to integrate that business so our customers would eventually benefit from a seamless offering that enables them to have what we consider to be the Park City Group vision. We refer to that vision as consumer-driven sales optimization. The idea was very simple: That the supply chain that is normally pursued by suppliers and retailers begins at the supplier's factory floor, and looks forward through the retailer as much as he can and ultimately to the point of sale. What we think is that this process needs to be reversed, and that the supply chain over the next 20 years will be run exactly backwards from today's view. That is to say that we want to provide for our customers an unobstructed view from the point-of-sale device backwards to the factory floor. The result of which is that not only will we be able to help with issues around what's called scan-based trading, but we would be able to deal with issues around vendor-managed inventory, store-level replenishment, demand planning and even line sequencing for large manufacturers. So the business reality at the time of the acquisition was focused on our goal to integrate the two businesses to create this ultimately seamless offering and to have that business integrated in a way that generated the financial goals that we set at the time of the acquisition. As far as our scorecard is concerned, we're actually running ahead of the plan that we initially had. We are very pleased with the results so far.
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