IRVINE, Calif. (February 19, 2008) -- The Retail Equation, the industry leader in retail transaction optimization solutions, has named two new executives with extensive retail technology backgrounds --Bob Walters and Tom Rittman -- to its sales and marketing team. The expansion of the sales and marketing group marks an increased commitment to solving retailers' concerns regarding fraud and customer conversions with the company's proven solutions to both increase incremental sales and reduce loss on every type of transaction.
"We are entering a time of economic uncertainty for the retail industry, a time when senior retail executives are searching for solutions with quick ramp up and proven ROI that will immediately impact the bottom line," said Mark Hammond, co-founder and CEO for The Retail Equation. "Not only do we offer such solutions, but our new sales and marketing executives understand the needs driving the decision-making process completely and, as a result, are ready to cement our position as the industry's undisputed leader in transaction optimization."
Walters has been named The Retail Equation's vice president of Sales and Marketing and is responsible for managing the sales team and spearheading marketing efforts for the company. Prior to joining The Retail Equation, he served as the vice president of Sales at IntelliVid, a retail-focused video analytics company. Before joining IntelliVid, he worked as the executive vice president of Sales and Marketing for Datavantage, the retail software development subsidiary of Micros Systems, and also founded and ran an IT consulting firm.
Rittman has been named as a vice president of Marketing for The Retail Equation. In this role, he is responsible for the organization's branding, demand generation, and marketing research and communications, as well as product marketing. Prior to joining The Retail Equation, Rittman served as the vice president of Marketing with Datavantage. Before joining Datavantage, he held various marketing positions with TMW Systems and Roadway Express.
About The Retail Equation
The Retail Equation, headquartered in Irvine, Calif., is the industry leader in retail transaction optimization solutions. The company's applications use statistical modeling and analytics to predict consumer behavior, and its software-as-a-service delivery enables retailers to achieve significant and measurable return-on-investment. The Return Rewards solution creates significant incremental sales at the return counter, while also building customer loyalty. Both Verify-1 and Receipt Verification prevent fraudulent and abusive returns, reducing return rates and saving millions of dollars annually for retailers. For more information, visit www.theretailequation.com.