rascal has come a long way in 10 years. Way back in 2002, we were operating a family run newspaper and magazine wholesale business, when we were asked to assist a large retailer on their news and magazine category.
Through this work we realised there was a gap in the market, helping retailers maximise profitability by ensuring their stores improve their compliance to the correct processes across their news and magazine category. Using our experience as wholesalers, we developed rascal, an automated method of scanning magazine returns using hand held PDAs in store, that ensures stores compliance to process and tracking of product returned to supplier.
Working with our retail partners, we have continued to develop the rascal system, refining processes and adding functionality, now offering a full end-to-end solution that drives real value to their business. We have recently relocated to a new head office in Milton Keynes and purchased Open Projects, our partner software developing house.
In 2012 we launched version 6 of our PDA software, bringing huge improvements in both the usability of the software as well as new and enhanced functionality. In the same year we launched rascal insight, our online reporting function, which improves the robustness, accessibility and flexibility of the information we provide to our retail partners.
The business now has a robust infrastructure in place for further expansion and we are all excited about the opportunities we are currently exploring with our retail partners to roll out rascal across categories beyond news and magazines.
Our aim is to focus on driving results both for our retail partners and for the future growth and development of the rascal business.
We will do this by ensuring our people have the right skills in the right roles, underpinned by a culture that engenders collaborative and proactive relationships across all of our existing and future retail partnerships.
The scope of opportunity for the rascal business is vast. We are building upon our success by increasing penetration in the domestic retail market and extending the offering into categories outside newspaper and magazines.
Our vision is to identify international opportunities and work with our retail partners to explore areas where we may add value across their operations outside the UK.
Sound technological systems underpin the rascal solution. Our aim is to ensure that we have the right people, process and technology in place to ensure our commitment to faultless service delivery and respond to our on-going customer needs. With our people it's critical we ensure the depth and quality of our talent supports our ambitious growth strategy.
We continue to work collaboratively with our retail partners to ensure sound processes and to facilitate agile development. We will continue to invest in our system architecture and champion new technology to support our sales strategy. We will build upon the recent acquisition of our software development house to provide continuous improvement and innovation via on-going product enhancements.