The Story of INDI

Read more about the journey of our customer: the difficulties they faced, the way we approached them and the results that followed.

Request Demo

About the Business

INDI is a webshop with more than 450,000  products. They offer premium brand products in every industry and category. INDI makes a difference in the market with  quick deliveries, an extensive product assortment and great customer service. Their head office is in Groningen and their warehouse in Varsseveld. In these two locations, they work with more than 30 specialists to become the most customer-friendly company in the Netherlands.

The Challenge In Pricing

The customer experienced a problem of constant price increases that flooded the market. This, in turn, made the pricing manager’s job very challenging and stressful. SYMSON believed that intelligent pricing would be of great benefit to stay competitive in the future and solve two core problems: implement automated pricing, which will decrease the amount of manual work and optimise pricing strategy which will eventually increase margins.

Why INDI Chose SYMSON

The customer chose SYMSON due to the undeniable advantages as:

  • More accurate and effective pricing and demand forecasting
  • A more healthy margin 
  • Reduction of manual errors 
  • Be fully in control of the customer demand with valuable insights

How SYMSON Responded

The SYMSON team kicked the project off with a brainstorm in which the current and future pricing strategies of the company were discussed. Three pricing strategies were defined: 

  • competitive pricing
  • cost based pricing
  • elasticity based

The SYMSON team started with analyzing the market, keeping a track of the competitors and automating the process. The competitor pricing was implemented to get more insights into the competitors and have the right response to them. A competitive pricing model allowed the business to regulate your position in comparison to your competitors so that you have less chance of losing market share. Moreover, the cost-plus pricing model was used to determine a price that ensures that the company is selling a product for a profit. The elasticity of the products was also defined to ensure that the company is selling a product for a healthy profit. 

The Results

The results are based on the criteria below:

  • The time investment / manual work saved with SYMSON by having the right prices at the touch of a button
  • The margin improvement achieved by the pricing algorithm predicting optimal prices
  • The knowledge of the company that is secured

The customer was satisfied with SYMSON and the overall progress. The modules chosen are running smoothly and the pricing manager is now successfully working with the all-in-one pricing management system by SYMSON. Overall, now the company have less manual errors since all the pricing processes are automated, which, in turn, helps to be fully in control of pricing. The pricing potential of the company was unlocked, which let them boost the margins and achieve a well-structured and effective pricing strategy.

To sum up, pricing is a particularly powerful tool for wholesale businesses, because the pricing environment allows for  access to a plethora of data and data streams – fantastic for some of the data hungry algorithms in SYMSON. In the case of this customer, a combination of quality data, powerful technology, and a strong project team produced the accuracy results that the client needed to succeed.

Features that help you build better software in half the time.