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Announcing Orckestra Technologies

A word from the President, Louis Fournier.

“If you want to go fast, go alone. If you want to go far, go together.” — Steve Jobs

At the end of June, we announced that Orckestra was to be, through an asset acquisition, acquired by Mediagrif Interactive Technologies Inc (“Mediagrif”), one of the top 25 Canadian software companies, publicly traded on the Toronto Stock Exchange (TSE) under the symbol MDF.

This acquisition presents a perfect opportunity for us to become part of a leading Canadian software company with an established portfolio of eCommerce-focused solutions including Supply Chain Management, Strategic Sourcing and Vertical Marketplaces which operate in Canada, the US as well as internationally. Orckestra Technologies brings a whole new set of capabilities with our cloud-based, global, omni-channel commerce platform and solutions.

Staying true to our vision, we will operate as a wholly owned, separate subsidiary of Mediagrif, who’s public and solid financial profile and tremendous resources will be the seabed that will allow us to reach the next level. This acquisition constitutes for Orckestra the next “big step” in the company’s evolution and a very important one for the expansion of the vision we established 4 years ago.

Essentially, our vision is focused on helping retailers adapt to the rapidly converging online and offline customer experiences by enabling them to transform to an omni-channel model that values the evolving role of the physical store. We do this by redefining the digital commerce stack architecture and capabilities to address the important modernization and digital transformation happening in retail in general.

Fulfilling an unmet need

Retail is being reborn, not by the supposed “death of the store” at the hands of the almighty “e-commerce”, but in fact, as successful retailers are proving, by taking the Convergence approach: Not one without the other; one within the other. Take Amazon and Walmart as two perfect examples. Digital capabilities are now combining with physical stores, defining new fulfillment locations, and are creating a new breed of experiences we call omni-channel (or unified commerce). Whichever you prefer, the need, objectives and challenges are the same.

There are a few important reasons why e-commerce has been so disruptive and why we believe that despite its double-digit growth and the systemic evolution it breeds, the role of the store has even more significance now. At the root of it all is the new consumer. Psychologically, people in general (that is, our beloved customers) do not like to be limited in their choices, they do not like to waste time when there is no time to waste, or feel like they are not receiving the service they deserve. Ultimately, what digital has created in society is a greater sense of empowerment that now affects many aspects of our lives, and which has had a drastic effect on retail. In three words, we expect choice, speed, and convenience.

  • Choice – Everything (almost) is at our fingertips. We used to have to make an effort to find information we needed like directions to a new place, wondering if our child is safe or waiting for us at the right pick-up spot, or even just what time the movie is playing and where… this is all now readily available in seconds over the internet. As is information about everything, including anything we want to buy. We aren’t looking for a store to shop in anymore, we’re searching for a product or service and can now span the globe to find the best options.
  • Speed – Now that we can find the aforementioned information at incredible speed, the expectation is set in stone. There is absolutely no going back, and thanks to digital means that help us easily locate and discover products, we also rely on digital to get products into our hands , as fast as possible. Online shopping solutions are helping retailers achieve this, but there’s a tremendous gap in the in-store experience, where associates and managers lack the digital tools and mobile capabilities to deliver on this expected immediate gratification. This is the downfall of many brick and mortar retailers.
  • Convenience – We have come to depend on digital so much as part of our everyday existence that just the thought of not having internet access or our mobile device within reach, even for a day, makes us feel completely disconnected from this new world. The convenience of digital has greatly simplified our decision-making process and expedites tasks we either don’t want to do or don’t have time to do. This is just as true in business as it is in shopping and everyday life. We don’t want to spend the day at the mall searching for something. Being able to look it up online, research and compare has now become part of the enjoyment. And while the majority of the purchase decision is done online, more than 85% of purchases occur in store, because nothing replaces being able to see, touch, smell, taste and hear, most of which cannot be replicated online. This is all proof that the future of retail is the absolute convergence of physical and digital experiences.

The future is now

Enabling choice, speed and convenience across digital and physical touchpoints is an ongoing challenge for today’s retailers, and a strategic priority. Many have tried and failed with traditional ecommerce platforms and are now distrustful of the newer “omnichannel” players. This is where Orckestra Technologies’ vision comes to life, as our platform was built from the ground up precisely to enable this digital transformation, without ripping and replacing existing ecommerce systems. Our approach allows retailers to build an ecosystem that helps them to stay ahead of the curve and quickly adapt, as digital will inevitably continue to disrupt retail, for instance with the emergence of Artificial Intelligence, Wearables and Machine Learning capabilities.

It is why we firmly believe that in this new retail environment,

“The pain of same is far greater than the pain of change”.

We are very excited about a bright new future for Orckestra Technologies under the Mediagrif umbrella, and would be pleased to discuss how we can help you better thrive and grow in this new market reality.