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After successfully using business intelligence software from MicroStrategy Inc. in its corporate headquarters, pharmacy chain CVS Corp. is now expanding the use of the software to its stores, vendors and customers.
In an announcement today, McLean, Va.-based MicroStrategy said the move builds on an existing six-year relationship with CVS by providing business intelligence services across CVS's operations.
The price tag for the deal wasn't disclosed, but according to MicroStrategy spokesman Marc Brailov, it's worth multimillions of dollars. The agreement closed in March and has been in place since then.
CVS is expanding its use of MicroStrategy's business Intelligence Platform as part of its own Enterprise Information Access within the company, CVS Information Services Director Mike Dion said in a statement. "In the past, pharmacy and retail businesses were focused on having the right product in the right place at the right time," he said. "In order to be on top today, it's equally important to make information accessible to the right people -- how, when and where they want it."
CVS has been using MicroStrategy products and services since 1996. Today, the products support about 2,000 end users at CVS who can follow store sales, manage real estate, follow click-stream activity for online ordering, provide financial information and even conduct category reviews for profitability, Brailov said.
The expanded deal will increase the number of CVS workers who are using the software for tracking business information within CVS.
Until now, the software and services were being used only in CVS's headquarters in Woonsocket, R.I. Under the expansion, an undetermined number of the company's 4,000 stores will be able to utilize the software.
CVS has annual revenue exceeding $22 billion.
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