HMV Chooses Eqos For Procurement
Source: Innovative Retail Technologies
Burlington, Mass. U.S. and Leatherhead, U.K. — May 11 2009, Eqos (www.eqos.com), a leading provider of web-based procurement and supply management solutions, today announced that HMV, the UK's leading entertainment specialist, has selected the Eqos Deal and Terms Management solution to streamline commercial negotiations with its music, DVD/visual product and games suppliers. With more than 80 years of music retailing history, HMV operates 265 stores across the UK and Ireland; 138 stores throughout Canada; and manages a growing and successful online store.
"We're very much looking forward to implementing the Eqos solution," said Steve Consalvi, Head of Finance Systems and Information, HMV. "Eqos will enable our product buyers to consistently manage deals and to work with suppliers using a single web-based solution. This system will enable us to proactively manage deals and to monitor progress, while the more consistent and auditable communication with suppliers will help address any issues before they develop into commercial disputes, thus avoiding the potential costly administrative burdens. We believe that the new system will therefore be of great benefit to our supplier partners, as well as to HMV."
Eqos Deal and Terms Management manages complex promotions/deals, beginning with the concept; through supplier collaboration and negotiations; execution of the program; settlement of funds; and, ultimately, assessing the deal and supplier performance. Product buyers can work collaboratively with suppliers to structure deals and to negotiate terms such as net price, retro-discounts, returns and marketing contributions. In turn, suppliers are able to self-manage their processes using the Eqos system within retailer security restraints. As the promotion/deal progresses, audit trails enable 'no dispute' tracking of information, while advanced security capabilities protect sensitive deal and terms information.
"We're delighted that HMV has joined the growing list of leading retailers who rely on Eqos to support and scale their businesses," said Jane Biddle, Eqos Chief Marketing Officer. "As a leading home entertainment retailer, HMV remains on the forefront of the market by consistently offering an outstanding and evolving selection of products, across hundreds of stores, and through its on-line channel."
About HMV
HMV is the UK & Ireland's leading music, film and games specialist - offering the widest selection of titles across all genres and formats through 265 shops nationwide, and online via www.hmv.com. HMV has implemented a number of key initiatives as part of an ongoing strategic plan, including a 'next generation' store concept, which brings together 'physical' and 'digital' content in an engaging retail environment; the review of the HMV brand and introduction of the 'get closer' identity; investment in HMV's online and mp3 downloads offer via hmv.com; and the ongoing development of a social network site 'getcloser.com'.
About Eqos
Eqos is a leading provider of web-based procurement and supply management for many of the world's leading retailers and UK insurance companies. Eqos on-demand software enables companies to work collaboratively with trading partners to enhance customer satisfaction, improve supplier performance, accelerate delivery times, and ensure compliance. Customers include Co-operative, Edcon, H-E-B, HMV, Lidl, LloydsTSB, Michaels, RSA, Sainsbury's and Tesco. Founded in 1997, the company has offices in Boston, London and Hong Kong. More information can be found at www.eqos.com.
"We're very much looking forward to implementing the Eqos solution," said Steve Consalvi, Head of Finance Systems and Information, HMV. "Eqos will enable our product buyers to consistently manage deals and to work with suppliers using a single web-based solution. This system will enable us to proactively manage deals and to monitor progress, while the more consistent and auditable communication with suppliers will help address any issues before they develop into commercial disputes, thus avoiding the potential costly administrative burdens. We believe that the new system will therefore be of great benefit to our supplier partners, as well as to HMV."
Eqos Deal and Terms Management manages complex promotions/deals, beginning with the concept; through supplier collaboration and negotiations; execution of the program; settlement of funds; and, ultimately, assessing the deal and supplier performance. Product buyers can work collaboratively with suppliers to structure deals and to negotiate terms such as net price, retro-discounts, returns and marketing contributions. In turn, suppliers are able to self-manage their processes using the Eqos system within retailer security restraints. As the promotion/deal progresses, audit trails enable 'no dispute' tracking of information, while advanced security capabilities protect sensitive deal and terms information.
"We're delighted that HMV has joined the growing list of leading retailers who rely on Eqos to support and scale their businesses," said Jane Biddle, Eqos Chief Marketing Officer. "As a leading home entertainment retailer, HMV remains on the forefront of the market by consistently offering an outstanding and evolving selection of products, across hundreds of stores, and through its on-line channel."
About HMV
HMV is the UK & Ireland's leading music, film and games specialist - offering the widest selection of titles across all genres and formats through 265 shops nationwide, and online via www.hmv.com. HMV has implemented a number of key initiatives as part of an ongoing strategic plan, including a 'next generation' store concept, which brings together 'physical' and 'digital' content in an engaging retail environment; the review of the HMV brand and introduction of the 'get closer' identity; investment in HMV's online and mp3 downloads offer via hmv.com; and the ongoing development of a social network site 'getcloser.com'.
About Eqos
Eqos is a leading provider of web-based procurement and supply management for many of the world's leading retailers and UK insurance companies. Eqos on-demand software enables companies to work collaboratively with trading partners to enhance customer satisfaction, improve supplier performance, accelerate delivery times, and ensure compliance. Customers include Co-operative, Edcon, H-E-B, HMV, Lidl, LloydsTSB, Michaels, RSA, Sainsbury's and Tesco. Founded in 1997, the company has offices in Boston, London and Hong Kong. More information can be found at www.eqos.com.
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