Sponsor Announcement: Open Pricer
PRICE OPTIMISATION AS A SERVICE
Open Pricer provides price optimisation as a service for parcel networks, e-commerce, freight networks, travel, smart mobility, financial services and more.
Our cloud pricing platform connects to the enterprise information system (ERP, CRM, TMS, etc) and continuously gathers all relevant pricing decision-support data: sale transactions, customer profiles, costs and capacity utilisation, requests for quote, conversion, attrition. This data can be enriched with external public information (predictors of demand and competitive prices).
Then it applies AI algorithms to produce optimised prices for every transaction or contract in real time.
Pricing decisions are complex. They rely on multiple factors driving costs and customer willingness to pay and they imply lots of calculations.
Companies make millions of such pricing decisions per year that have a critical impact on their business performance.
However, due to time constraints and lack of data and tools, only a fraction of these decisions can be screened by pricing analysts, resulting in profit leakage.
Two business and technology trends make price optimisation indispensable:
- Digital Markets: more and more customers are willing to buy and contract online. This requires instant pricing capability even for complex offers;
- Dynamic and Personalised Pricing: in digital markets, variable and dynamic prices are replacing averaged and fixed prices, leading to more accuracy but also to a much larger number of prices, more frequently updated.
Implementing price optimisation results in an improvement of resource utilisation and sales efficiency up to 20% and a typical increase of 3 to 5 points in net margin.
But above all, price optimisation arms companies to succeed in digital markets where information and speed are critical.
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