SALT LAKE CITY and CHARLESTON, S.C., Sept. 20, 2017 (GLOBE NEWSWIRE) -- Park City Group (NASDAQ:PCYG), a cloud-based software company that uses big data management to help retailers and suppliers 'Sell more, Stock less and See everything', is partnering with Ralston Creek Capital, one of the leading providers of working capital to suppliers engaged in Scan Based Trading (SBT), to solve a critical financing challenge in the retail supply chain. As part of the new relationship, Park City Group is introducing Ralston Creek Capital to select customers to help ensure they have the funding needed to both expand and maintain current SBT relationships.
Under SBT, which is powered by Park City Group technology, suppliers maintain ownership of inventory until the product is sold (or scanned) by retailers, yielding increased sales and profits for both parties. One of the biggest hurdles facing companies moving to SBT is cash flow because banks and non-bank institutions typically won’t finance consigned inventory. SBT companies sometimes also need help getting started with SBT, which requires them to buy back their inventory from retailers. Ralston Creek Capital fills this inventory financing need so suppliers can deploy SBT and grow their businesses.
“We are excited to have the opportunity to partner with the leading technology provider in Scan Based Trading. The combination of Park City Group’s platform and Ralston Creek Capital’s financing solutions make it simple for suppliers and retailers to engage in Scan Based Trading,” said Troy Propes, CEO of Ralston Creek Capital.
Scott Storey, President of Ralston Creek Capital, adds; “The retail channel continues to evolve and SBT is a key strategy that is gaining traction and attention as a solution for both retailers and suppliers. Our partnership will support those forward-looking participants that are transitioning to Scan Based Trading in order to take advantage of its immense benefits.”
“We’re pleased to join with Ralston Creek Capital in providing this valuable service to our SBT customers. By adding the financial capabilities of Ralston Creek Capital to our innovative technology, suppliers will have optimal solutions to meet their inventory management needs,” said Randall K. Fields, Chairman and CEO of Park City Group.
About Park City Group
Park City Group (NASDAQ:PCYG) is a Software-as-a-Service (“SaaS”) provider that brings unique visibility to the consumer goods supply chain, delivering actionable information to ensure products are available when and where consumers demand them, helping retailers and suppliers to ‘Sell More, Stock Less, and See Everything’. Park City Group’s technology also assists all participants in the food and drug supply chains to comply with food and drug safety regulations through the Company’s ReposiTrak subsidiary. More information is available at www.parkcitygroup.com.
About Ralston Creek Capital
Ralston Creek Capital is dedicated to filling the financing void for the next evolution in retail. We provide working capital to suppliers who are selling to retailers on consignment, also known as Scan Based Trading (SBT). Ralston Creek Capital understands the importance of the right capital structure to support growth and so we work with suppliers engaged in SBT programs to provide the financing needed to expand their business. More information is available at www.ralstoncreekcapital.com.
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