Veratex shows off new online system
October 29, 2001,
Panorama City, CA — Veratex's latest online innovation is designed to enable retailers to show as much product as they want on the Web without retaining thousands of dollars of inventory and thousands of feet of storage space.
Developed exclusively by Veratex's webmaster, Tal Bahir, the system is a virtual online vending machine (OLVM) and enables large and small retailers alike to tap into Veratex's Internet resources in order to generate more sales for themselves. It has been in development for the past six months and is available to retailers now.
According to Bahir, signing up for the OLVM is a relatively simple process. Retail webmasters will be given an account and asked to log on online. After setting up the graphic aspects of their pages online, which Bahir said was roughly a 30-minute process, a unique link would be generated by the Veratex computer systems. The webmaster will then take that link and paste it on to their own retail website. This would enable the site owner to log on to the OLVM at any time, select products, set prices and manage the collection. Consumers who subsequently visit will see whatever pieces the retailer is offering on pages which have that website's look and feel, including the ability to zoom in on products, but which are actually generated by Veratex's Internet servers. Orders will go directly to the retailer, which may fulfill it from within their own inventories or place an order with Veratex. Even more attractive to retailers, the system is free of charge.
"It's not Veratex selling on the Web," clarified Dale Talbert, vp of sales. "It's just us helping customers to offer more, which means more sales for them and, ultimately, more sales for us."
Since the service is free, Cohen said it did not matter whether retailers chose to show one Veratex item or 1,000 items on their site. Another added benefit to the OLVM is that products no longer manufactured by Veratex would be automatically deleted, eliminating confusion over what was currently available. In turn, new products will be added as soon as Bahir can input them onto Veratex's servers. Both features eliminate the need for retailers to devote time and money to changing their specific Web pages. The system, Bahir added, is also capable of handling thousands of retailer's pages at once
"Retailers can make money online even if they don't have the actual products at the store," said Bahir.