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Pricing Engine: The game has changed and SPEED is king!

Thu, Jul 4, 2019

Pricing SPEED is the new competitive edge - the game has changed and SPEED is king!

Pricing speed has become a game changer thanks to how complex trading has become, multiple sales channels selling the same products, competition and demanding consumers! All these factors have slowed down the average companies’ ability to be agile with pricing changes and cope with managing pricing at scale.

Selling across omni-channels exposes you to variations in competitors, sometimes with market “disrupters” challenging long held processes. Most try to address current pricing challenges through increased staffing; utilising off-line processes to copy prices from one system to another then applying changes to account for market pressures and opportunities.

Initially this may work, as long as prices are stable and the variations between channels are minimised. Over time complexity and variation increases between channels, testing the limits of non-scalable systems and processes.

So how can you ensure you make the best pricing decisions and remain competitive? Here's where a hyper-speed centralised pricing engine is the game changer.

The game changing benefits to mastering pricing SPEED!

1. One source of pricing truth

Speed enables you to have a single source of pricing truth regardless of the volume of price requests. It doesn’t matter if it’s Black Friday and you have ten eCommerce sites we can price it with one version of RMx. RMx calculates 5,000 prices per second.

2. Scalability

Multi-entity, multi-country companies all using one pricing engine, it doesn’t matter how many orders are placed a day, RMx scales at an enterprise level.

3. Volume of products

Regardless of how many products you sell, the speed of RMx enables real time pricing across hundreds of millions of price combinations. Meaning spreadsheets and clumsy databases are eliminated.

4. Speed to change your price 

Passing on price increases instantly is enabled through the speed of RMx. Speed to change your price based on the market or a competitor, you’re able to change your price across all of your sales channels instantly. If your competitor says they are now the cheapest in the marketplace you can make your change within 30 seconds or less.

When speed is your competitive edge this should be the dashboard of your pricing engine performance.

HOMEPAGE-DIALS

Pricing SPEED enables your customers…. to create their own baskets and encourage sales through promotional mix and match or other interactive promotions with instant updates.

Pricing SPEED enables your business to… improve customer relationships, where a personal touch is required, by empowering your sales team with the ability to quote and update prices using the pricing engine.

Pricing SPEED enables your partners to… sell more of your goods by keeping them up to date with the latest pricing offers without having to check or verify with you before making a commitment.

Even if your partners can only manage to receive pricing files or catalogues you can make sure they have the latest version daily or hourly, regardless of the number of products required to price. If they have 30 million calculations you should be able to send an update every hour, without building a server farm to support that process.

Pricing SPEED enables you to centralize pricing into one pricing engine… Retail and web store pricing is delivered from the same engine that powers distribution, wholesale, DSD or traditional ordering without sacrificing the speed of one for the others, or replicating prices in disparate tables.

Centralised hyper-speed pricing for any sales channel is the new competitive edge.

RMx Pricing Engine

Hyper-speed pricing, complements your existing technology, no need for expensive ERP upgrades

  • Integrates easily to any ERP and extends the life of legacy ERP solutions.

  • Allows merged and acquired companies to manage pricing efficiently and effectively; across multiple systems and locations; all from the cloud.

  • Allows ERP and other system upgrades and changes to be performed independently of pricing; never having to stop orders to verify that new price systems are producing the right price.

Get the competitive edge with a scalable hyper-speed pricing engine. Centrally manage and calculate prices instantly, reduce errors, reduce revenue leakage and grow your profitably.

Make the complex easy and simplify your price maintenance!  

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