January 21, 2016 | Salt Lake City, Utah – Park City Group’s ReposiTrak®, the leading provider of Compliance Management and Track & Trace solutions for food, pharma and dietary supplement safety, and the Leavitt Group, the seventh largest independently held insurance brokerage in the United States, are entering a strategic partnership to assist users of ReposiTrak’s Compliance Management System in obtaining lower insurance rates.
By bringing transparency to users’ food safety practices, the Leavitt Group expects that use of ReposiTrak’s Compliance Management System could effectively lower a user’s risk profile to qualify for lower insurance rates. Park City Group believes the Leavitt Group is the ideal partner to service its thousands of suppliers due to its food supply chain expertise, nationwide footprint, and ability to work with and influence any underwriter as one of the country’s largest independent insurance advisory firms.
“Partnering with Leavitt Group underscores our drive and commitment to increasing the value of ReposiTrak for our users,” notes Randall K. Fields, Chairman and CEO, Park City Group. “We firmly believe that better compliance and visibility means lower risk; lower risk means lower premiums, and that could make ReposiTrak cost neutral before considering its other benefits. Importantly, companies taking advantage of the Leavitt insurance advisory service can do so without changing their current insurance brokerage relationship.”
Eric Leavitt, CEO of Leavitt Group, states: “We are thrilled at the opportunity to work with a true innovator in the food safety and compliance area like ReposiTrak, as we are both in the business of reducing risk and rewarding compliance. We’re confident our partnership will deliver a myriad of benefits to our mutual clients.”
ReposiTrak, a wholly owned subsidiary of Park City Group (NASDAQ:PCYG), helps manage regulatory, financial and brand risk associated with issues of safety in the global food, pharma and dietary supply chains. Powered by Park City Group’s technology, the platform consists of two systems: Compliance Management, which not only receives, stores and shares documentation, but also manages compliance through dashboards and alerts for missing or expired documents; and Track & Trace, which quickly identifies product ingredients and their supply chain path in the unfortunate event of a product recall. It can reduce the risk in the supply chain by identifying backward chaining sources and forward chaining recipients of products in near real time.
About Park City Group
Park City Group (PCYG) is a Software-as-a-Service (“SaaS”) provider that brings unique visibility to the consumer goods supply chain, delivering actionable information to ensure products are available when and where consumers demand them, helping retailers and suppliers to ‘Sell More, Stock Less, and See Everything’. Park City Group’s technology also assists all participants in the food and drug supply chains to comply with food and drug safety regulations through the Company’s ReposiTrak subsidiary. More information is available at www.parkcitygroup.com.
About Leavitt Group
Leavitt Group—national resources, local trust. Leavitt Group is the 7th largest independently held insurance brokerage in the United States. We pride ourselves on our expertise and ability to help our clients succeed. More information is available at www.leavitt.com.
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