Marks & Spencer is the first UK retailer to deploy Temposoft, a new web-based software that enables companies to optimize the way they do business. The company will pilot the software in its Kingston store with a view to rolling-out to all 297 stores from October. In a separate deal Marks & Spencer Ventures has secured a small stake in the company.
Temposoft will enable all of Marks and Spencer’s staff scheduling processes to be simplified onto one system, so that the company can identify gaps in skills, recruit for specific needs and have an automated staff scheduling system.
“We are delighted to be the first UK retailer to deploy this product and believe this solution will help us balance our workforce with the workload. TempoSoft will help us improve our service, improve employee motivation, enhance flexibility and control our labour cost,” said Richard Wolff, Marks and Spencer. “We will be able to provide our stores with a set of tools to create a truly integrated budgeting, forecasting, scheduling and decision making process,” he added.
“We have made a significant investment over the past two years to provide companies with a new solution to optimise their business,” said Pierre Cesarini, CEO of TempoSoft. “This additional funding will help the rapid installation of our subsidiaries in the United States, Germany and South Europe and help us continue our expansion in France and United Kingdom.”
The financing was led by Atlas Venture and CDC Innovation, the venture capital companies which originally funded the company in March 1998. TempoSoft has now secured a total of £8 million of financing.
Marks and Spencer Ventures was established as a wholly owned subsidiary of Marks and Spencer in late 1999, with a focus on opportunities in digital commerce.