High Impact Venture Aims to Streamline Suppliers’ Processes

Matt Fifer is enjoying success as co-founder of 8th and Walton, the Bentonville-based supplier development company that helps other entities do better business with Wal-Mart Stores Inc.

Now Fifer has teamed with James Harris, another veteran of Wal-Mart and the supplier community, to launch High Impact Analytics. HIA’s primary product is a “real-time software technology reporting suite” designed to help small- and mid-sized manufacturers be more effective – and profitable – in their dealings with Wal-Mart and Sam’s Club.

Elements of the suite, maintained and updated by HIA, include an online reporting tool, customized alerts, a store-specific order tool and a demand planner. It’s a Web-based application, meaning HIA doesn’t gain access to clients’ data.

“It takes the work and labor out of the reporting part of an analyst’s job,” said Harris, HIA’s president.

It also comes at a fraction of the cost of more comprehensive systems. The lower price is made possible by the fact HIA’s systems are designed specifically for business with Wal-Mart and Sam’s Club.

The more comprehensive systems often cost between $150,000 and $250,000 with added expenses that include annual licensing fees and maintenance costs, Harris said. HIA subscriptions typically run $2,500-$3,500 a month.

Harris said he first thought about the idea of such a company years ago, but didn’t begin development until early 2010. HIA launched in October.

“It takes a while to build up the experience and the guts,” Harris said.

Response has been favorable, Harris added, boosted by free demos and four-week trials. He said both are designed to “let the tool sell itself.”