SALT LAKE CITY--(BUSINESS WIRE)--Park City Group, Inc. (NASDAQ:PCYG), developer of the first, fully integrated end-to-end supply chain management platform, simplifying, safeguarding, tracking and adding value to the relationship between suppliers and buyers, has successfully launched an initiative to accelerate Supplier HUB growth. Supplier HUBs extend the range of the ReposiTrak platform to ingredient and packaging companies as well as new distributors and create a significant opportunity for expansion of the ReposiTrak Marketplace.
“We successfully launched an initiative to accelerate Supplier HUB growth during the fiscal fourth quarter underpinned by a unique compliance performance guarantee,” said Randy Fields, Chairman and CEO of Park City Group. “The suppliers in our network were very receptive and this initiative has already begun to pay off, as we added nearly as many new Supplier HUBs in the second half of the fiscal fourth quarter as we added in the entire fiscal year to that point, and we expect that number to continue to scale.”
Fields added, “We believe this effort will result in deeper relationships with the connected suppliers to our retailer and wholesaler hubs and represents an opportunity to ultimately grow the scale of our network by hundreds of thousands of connections in the coming years. While each additional supplier HUB added to our network is not material in and of itself, our expected growth in Supplier HUBs in aggregate represents a substantial business opportunity for ReposiTrak as we scale the number of connections.”
By becoming a HUB, a supplier using ReposiTrak with trading partners managing their compliance with the platform can also manage the compliance of its own ingredient suppliers, creating a seamless solution for the entire supply chain. The U.S. retail food supply chain consists of hundreds of thousands of suppliers which represent potential ReposiTrak Supplier HUBs, of which thousands are already in the ReposiTrak network.
About Park City Group and ReposiTrak®
Park City Group (NASDAQ: PCYG) is a Software-as-a-Service (“SaaS”) provider that brings visibility to the consumer goods supply chain through its ReposiTrak, Inc. subsidiary. ReposiTrak is The Speed Retail Platform, with three product families; Compliance & Risk Management, Supply Chain Solutions, and MarketPlace Sourcing and B2B Commerce. The platform provides retailers and suppliers with a robust solution suite to help enhance operational control and increase sales, while enabling them to protect their brands, reduce risk and remain in compliance with regulatory requirements. More information is available at www.parkcitygroup.com and at www.repositrak.com.
The statements in this press release that are not historical facts are forward-looking statements, as defined in the U.S. Private Securities Litigation Reform Act of 1995, that are based on current expectations and are subject to risks and uncertainties that could cause actual future results to differ materially from those expressed or implied by such statements. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "if", "should" and "will" and similar expressions as they relate to Park City Group, Inc. ("Park City Group" or the “Company”) are intended to identify such forward-looking statements. Park City Group may from time to time update these publicly announced projections, but it is not obligated to do so. Any projections of future results of operations, including those related to ReposiTrak® and MarketPlace, should not be construed in any manner as a guarantee that such results will in fact occur. These projections are subject to change and could differ materially from final reported results. Specific disclosure relating to Park City Group, including management's discussion and analysis of the Company’s financial condition and results from operations, are contained in the Company's quarterly report on Form 10-Q for the fiscal quarter ended March 31, 2018 and other reports filed or to be filed with the Securities and Exchange Commission (the “SEC”), including the Company’s annual report on Form 10-K for the year ending June 30, 2018. For a discussion of such risks and uncertainties, see "Risk Factors" in Park City's annual report on Form 10-K for the year ended June 30, 2017, its subsequent quarterly reports on Form 10-Q, and its other reports filed with the SEC under the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.