Stibo Systems, the global leader in Business-first Master Data Management (MDM) solutions, today announced that Grupo Elektra S.A.B. de C.V., Latin America’s leading specialty retailer and financial services company and the largest non-bank provider of cash advance services in the United States, has employed Stibo Systems’ Master Data Management (MDM) platform STEP Trailblazer to help achieve its three-year growth plans. Elektra’s Retail Division will centralize all its product information with the solution, while relying heavily on the software’s supplier portal to facilitate the onboarding and enrichment process for suppliers.
As part of an aggressive plan to expand its product offerings, Elektra’s eCommerce Business Unit within the Retail Division will increase its online selection significantly over the next few years. Using Stibo Systems’ MDM solution, Elektra will integrate and centralize product information management (PIM) to automate and streamline the process of achieving efficient, consistent and trusted product content to create a better customer experience.
“Our company was founded on delivering an exceptional shopping experience at an affordable price point,” said Juan Carlos García, Director Global eCommerce & Omnichannel, Elektra. “Stibo Systems’ flexible and scalable platform will allow us to grow the MDM effort as our business continues to grow. By managing product data and suppliers in a single solution, we can consistently publish the most up-to-date product information and offer our customers the most extensive selection of products available.”
Grupo Elektra represents one of Mexico’s most important companies, with more than 65,000 employees and an annual revenue close to USD $5 Billion. Operating across seven different countries in Latin America, and the USA, the company maintains 1,150 stores, which offer appliances, consumer electronics and furniture. To support the increase in its product portfolio and fuel its strategic digital and omnichannel efforts, Elektra will leverage Stibo Systems’ PIM solution to support its expanding eCommerce efforts.
“The ability to significantly increase an online product catalog while keeping costs at a minimum is every retailer’s dream; however, it is particularly important to Grupo Elektra whose mission is enable patrons in Latin America to obtain the products they need at a reasonable price,” said Prashant Bhatia, Chief Marketing Officer and Head of Product Strategy, Stibo Systems. “Having the ability to involve their suppliers via our easy-to-use supplier portal will allow the company to easily onboard new products, facilitate efficient processes and drive their digital transformation efforts. Their commitment to leveraging technology to keep products affordable is a best practice that other companies strive to emulate.”