Profitect's Board of Advisors Welcomes Thomas Matthews, Former Chief Ethics and Compliance Officer at Saks Fifth Avenue

WALTHAM, Mass., Jan. 27, 2011 /PRNewswire/ -- Profitect, a profit protection solution provider that focuses on increased profits through the reduction of supply chain leakage, shrink, waste, margin erosion, and operational damages across the entire enterprise is pleased to welcome Thomas Matthews, Former Chief Ethics and Compliance Officer at Saks Fifth Avenue to Profitect's Board of Advisors.

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Thomas Matthews was appointed as Former Chief Ethics and Compliance Officer at Saks Fifth Avenue in 2003. He also served as Group Senior Vice President-Logistics, Operations, Asset Protection, Construction, Design, Planning, Facilities, and Visual. Matthews joined Saks Fifth Avenue in 1993 as Vice President of Corporate Loss Prevention and has served as Senior Vice President of Asset Protection since 1999. He gained previous experience at Ann Taylor, New York, as Senior Vice President of Asset Protection, Risk Management, Systems and Procedures beginning in 1989 and began his career with Lord & Taylor. Matthews received his Masters degree in Criminology from Rutgers University, is a Fellow at the Wharton Business School and holds an MBA from the University of Michigan.

"I am pleased to accept a position on the Profitect Board of Advisors. My Corporate Loss Prevention, Asset Protection and Risk Management experience with keystone retailers will help play a vital role in Profitect's success and education strategy to the retail community," commented Thomas Matthews, Former Chief Ethics and Compliance Officer of Saks Fifth Avenue.

The board will focus on educating retailers on how to find profit opportunities in key risk areas related to their operations: inventory, delivery and receiving, logistics and warehouse, purchasing, back office and point of sale.

"Matthew's extensive expertise in retail compliance and asset protection will enhance valued relationships with our retail partners. His deep roots in risk management are a meaningful step towards educating our customers on finding untapped profit opportunities across the value chain," noted Guy Yehiav, CEO of Profitect.

About Profitect

Profitect is a global provider of Profit Protection software solutions that deliver a rapid 5-8% profit increase by statistically identifying, analyzing and resolving profit leakage in key risk areas across the entire value chain. 

Profitect's Proprietary Solution Bank combined with our rules engine provides automatic best-practice recommendations to fix the leakage throughout the value chain using a workflow and task management system to ensure action is taken.  Our solutions allow non-disruptive technology deployment through a modular, scalable approach.

The Profitect team of experts has more than 15 years of proven success increasing profits for globally recognized retailers, such as Marks and Spencer, Woolworths, Metro, Paz, Blue Square, and others.

You are missing Profit Opportunities. Profitect your Value Chain Today!

For more information visit www.Profitect.com or call 781-290-0009.

SOURCE Profitect