ParallelDots and Google Cloud join hands to enhance retail shelf monitoring with advanced image recognition solutions
ParallelDots announced a strategic collaboration with Google Cloud to deliver advanced, real-time shelf monitoring solutions to global Consumer Packaged Goods (CPG) manufacturers and retailers. This collaboration will harness the strengths of both the companies and unlock enhanced data accuracy, faster deployment times, and simplified AI training for CPGs, ultimately leading to improved in-store execution and thereby boost sales.
The retail industry faces significant challenges, with global CPGs losing 25% of sales annually due to poor in-store execution. Manual store audits and survey-based applications have failed to provide real-time data availability, efficient audits, and timely reporting.
AI and Image Recognition (IR) technology solutions are increasingly sought after to address the in-store execution challenges. ParallelDots specializes in leveraging Computer Vision and AI technology to provide CPG manufacturers and retailers with over 97% accurate, real-time data on on-shelf availability, share of shelf, planogram and price tag compliance. Their solutions improve brand visibility and boost sales by addressing common issues like missing SKUs and price labels or incorrect product placement.
With this collaboration, Google Cloud’s scalable and secure infrastructure will enable ParallelDots to enhance its shelf monitoring solutions, providing end-users with reliable performance and security. Further this integration will allow customers to deploy ParallelDots’ solutions quickly and easily, achieving a higher return on investment compared to standalone solutions. Customers will be able to seamlessly integrate and analyze ParallelDots’ SKU-level shelf data alongside other datasets within the Google Cloud platforms, significantly boosting ROI and eliminating the costly and complex task of manual integration.
ParallelDots has established itself as a leader in Image Recognition-based shelf monitoring solutions, having successfully deployed its technology in Fortune 500 CPG companies. Google Cloud’s strong presence in the CPG and retail sectors enhances this collaboration. This joint solution stands out by allowing end-customers to adopt ParallelDots’ specialized technology, complemented by the platform security and robust infrastructure of the Google Cloud platform, creating a compelling offering in the marketplace.
Commenting on the partnership, Bikram Singh Bedi, Vice President and Country MD, Google Cloud India said, “Our aim is to offer our customers a secured infrastructure and capabilities to seamlessly perform complex tasks. With this collaboration we aim to empower ParallelDots to deliver unparalleled solutions to their customers. Our advanced cloud capabilities combined with their innovative technologies will simplify tasks, efficiently run complex problems and enhance cost efficiency.”
Ankit Singh, Co-founder & CTO, from ParallelDots said, “This milestone marks a significant advance in delivering a world-class Retail Image Recognition solution to the global CPGs and retailers. Our partnership with Google Cloud enhances the reliability, security, and speed of our solutions, dramatically reducing deployment time, scaling our Image Recognition solution ShelfWatch, and boosting platform reliability and cost-effectiveness. This is a pivotal moment in our mission to create the world’s foremost retail shelf insights platform.”
