Price Management Software
Price management software is the most powerful tool to extract the most profit in the constantly changing market. The traditional approaches to price management, such as lowering it or offering a discount per group are already ineffective.
Nowadays, to improve strategic investment, a retailer must take more action to gain more profit and get a better market position. With increasing sales in the store, retailers need to manage and optimize prices in each channel, region, and store during the constant changes in trends among consumers, suppliers, and competitors. Atriny’s experience and Symphony GOLD tools allow retailers to define and implement policies, as well as adjust prices in any channel.
What is the biggest challenge
in price optimization for retailers?
- Immense pressure from discounters and e-commerce, decrease in customer base
- Margin below expectations for different regions
- The complexity of managing and optimizing them for different channels/regions/stores
- How to match the regular and promotional charges of competitors?
- Planning price changes in stores and analyzing the impact of decisions is a complex and inefficient process
- Insufficiency of people for the effective implementation and implementation of pricing policies
- Lack of formalization of pricing policies
- Is it possible to reduce dependence on regular promotions?
- Limiting the number of changes at each outlet per day
3 BASIC ADVANTAGES
5-20%
Retailer Revenue Increase
1-1.5 yrs
The period of investment return
5-10%
Sales growth
Ensuring accurate, coordinated pricing to sustain customers’ loyalty
Pricing each product for each channel is a challenge. Pricing errors or conflicts put customer loyalty at risk and affect sales. We provide retail chains with powerful solutions for price management – automation of policy compliance and the ability to update in real-time based on custom pricing rules.
We solve these problems and more:
- Correct and coordinated management of product prices in different channels is a difficult task. Pricing errors and conflicts jeopardize customer loyalty and affect business results
- Automatic filtering, calculation, ranking, and planning of price changes in stores reduce operating costs
- Automation of the process of calculating and planning prices leads to a reduction in the number of errors, an increase in the speed of implementation of the required changes, and lowers costs
Maximize sales and profit with the best price management solution
Price optimization is an art and science. Retailers make the best decisions considering all factors, such as customer behavior, projected demand, assortment, competition, and more. We help retail chains to optimize prices by analyzing the impact of changes on several scenarios and various business goals to determine the ideal pricing plan for a group of products. Our management solution provides pricing transparency across the organization.
Implementation of pricing strategies for all retail channels
Price optimization is valuable, but retailers achieve maximum benefits when optimization is synchronized across all sales channels. When using, in combination with other solutions on the retail platform offered by Atriny and in combination with your execution system, the retail chains will have full control over the management and implementation of the optimized pricing policy across all channels.
The price management solution
from Atriny on pricing is:
- A modern solution for PRICING AND OPTIMIZATION POLICIES
- Based on an advanced engine of business rules and optimization algorithms as part of a retailer’s unified business strategy
- Based on the ability to simulate different scenarios when DETERMINING THE BEST PRICE FOR GOODS for each channel, cluster, or individual store
The basic functionality of the solution that supports the pricing policy is:
Decision-making support
- The ability to view all the information related to pricing at the required level (cost, competitor charges, and sales history) in a single system
- The ability to determine the basic logic of price updates (for example, automatic price equalization for similar products, charges for sets)
General conformity of policies and price lists
- Control of the resulting price lists (for example, prices for identical goods of different sizes)
- Alerts in case of violation of charge restrictions (for example, the minimum margin category, the minimum difference % with competitors)
Centralized control and transparency of store prices
- Approving store charges or determining a price range for stores
- Planning updates for stores (for example, dividing 1000 price updates into 4 sets of 250 updates sold according to the schedule)
- Centralized store monitoring
As a result of applying a pricing management software tool, the company gets benefits such as:
- Decrease in time for planning and implementation of pricing
- Profitability Improvement
- Use of uniform rules and pricing policies throughout the company (transparency of pricing rules)
- Centralized management of pricing rules considering all available information with the ability to assign retail prices by the store itself for part of the range
- Building an optimal pricing model based on competitor information.
- Full control of prices set by stores by the central office
- Quick adaptation to competitor charges