FORM Acquires ShelfWise Image Recognition Technology for AI-Powered Retail Execution
BRAINTREE, Mass., July 19, 2021 /PRNewswire/ -- FORM, the top field execution platform for enterprise teams, announced today that it acquired ShelfWise, the leading image recognition platform that recognizes products and prices on retail shelves with AI to give brands more accurate store data in near real-time. Together, FORM and ShelfWise will create the world’s top integrated task management and image recognition platform to make in-store data collection faster, simpler, and more reliable. ShelfWise provides a real-time view of critical in-store conditions using computer vision that tracks product availability and placement. With ShelfWise, FORM’s image recognition capabilities now enable retail audits on more display types than any other technology on the market—from shelves, displays, and cold boxes, to drink coolers and menus—to give consumer goods brands, brokers, distributors, and retailers full store visibility on product position, price, placement, assortment, and competitor activity.
The acquisition marks another milestone in FORM’s journey to create an end-to-end platform that makes frontline work even easier and more efficient for enterprise teams across Consumer Goods, Beer, Wine, and Spirits, Retail, and Restaurants and Hospitality.
“Adding ShelfWise to our portfolio of best-in-class solutions is a critical development in fulfilling our product vision,” says Ali Moosani, CEO of FORM. “As the Digital Assistant for the Frontline, today we’re giving field teams more power, more visibility, and more insight than they’ve ever had before.”
ShelfWise co-founders, Tomasz Zietęk, CEO, and Rafał Cycoń, Executive Chairman and Chief Technology Officer, share Moosani’s vision to deliver the world’s most accurate and intuitive computer vision solution for smart retail execution. “From a product perspective, what’s exciting is the number of dedicated minds we and FORM have to focus on the technology,” says Zietęk. “But what’s more exciting is what we can accomplish together from a business perspective. Imagine the incredible outcomes we can create for our customers.”
The ShelfWise platform allows reps to automatically capture images of products on mobile—eliminating manual data collection and compiling lengthy reports on spreadsheets after store visits. After reps capture photos, ShelfWise’s algorithm analyzes data at the brand, SKU, and UPC level, including facings, out-of stocks, shelf share, and pricing and positioning before delivering accurate insights in near real-time. Its capabilities include discrepancy reports, image overwriting, photo stitching, image acceptance, and on-device reporting to cut audit times in half and improve in-store execution everywhere.
“Our strategy at FORM is to automate repetitive tasks with intuitive technology that helps teams in the field do their jobs easier and faster—and now, we can do that better than anyone,” says Moosani. “With ShelfWise, we can unleash the human power and creativity of mobile workers to create lasting value for their companies.”
To see ShelfWise in action and to learn more about its revolutionary AI for retail, click here.
FORM powers the world’s 2 billion mobile workers as they change companies and industries for good, with mobile technology that improves execution from the frontline. FORM activates and connects teams in the field--with leaders, missions, and each other--so they can deliver success in the enterprise. FORM’s field execution platform serves as a digital assistant for frontline teams by guiding their daily tasks, streamlining data collection, and providing leaders with real-time intelligence that drives faster actions and better decisions. FORM solutions have been deployed by Fortune 500 companies around the world. To learn more, visit www.FORM.com.
ShelfWise brings Artificial Intelligence to the shelf using state-of-the-art image recognition technology that improves execution for retailers, distributors, and brokers across the globe. Powered by machine learning and computer vision, ShelfWise’s mobile platform recognizes all products and prices in-store before providing granular brand, market, and competitive data in near real-time. ShelfWise allows reps to get more value from their visits—and helps merchandisers sell smarter and faster on the shelf. For more information, visit: https://shelfwise.ai/en/.
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