How to automate prices for (cost) price changes

Handle cost price changes automatically & effectively with the assistance of AI Pricing Software.

A man using the AI price optimisation software of SYMSON
SIMON & KUCHER:

"In very volatile markets the challenge will be to have multiple price increases a year. It's a new skill to learn."

SYMSON

Why are cost price changes difficult challenges for businesses?

Due to (unforeseen) cost price changes, profit margins can dissolve quickly. Businesses try to sell products or services for a higher value than they produce them. Costs thus play a crucial part in the eventual profit of businesses.

However, when costs are not stable and prone to increasing quickly, business risk selling their products for a low margin. Especially now, when events such as national conflicts and pandemics influence prices drastically, costs are harder to predict.

To keep the same profit margin and minimise the risk of selling products for a too low margin, businesses need to be able to increase their prices - automatically & effectively.

The biggest challenges when
cost prices increase?

Conventional and confusing pricing software that does not allow for automated Pricing
Challenge #1

Keeping track of cost price changes

  • Cost prices can change quickly and abruptly
  • Basic pricing strategies are mostly not able to capture all value
A user that cannot optimise their margins because they are not using price elasticity analysis in SYMSON
Challenge #2

Sustaining or increasing profit margins

  • Increasing costs lead to decreasing profit margins, when price stays the same
  • Difficult to decide on profitable pricing strategy when costs are not stable
A client unable experiment with cost changes because they are not using the run predictions module in SYMSON
Challenge #3

Managing and communicating price changes

  • Increasing prices manually takes a lot of time and effort
  • Price increases can have a negative effect on sales

The SYMSON Solution

The framework of the Machine Learning and AI module in SYMSON

Smart Algorithms

SYMSON

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AMAZING DESIGN

Benefits of using SYMSON

1

Rapid implementation

You can  start with automating your prices with only invoice data or purchase prices per product.

2

Automated cost price changes

If your cost prices increase, SYMSON can automatically incorporate this into your sales prices.

3

Take into account more relevant drivers

We have the 9 most important built-in pricing strategies, ready to be implemented in a few mouse clicks.

4

Apply your own business rules

Translate your business knowledge and KPIs easily into business rules for the pricing strategies.

5

Reduce manual errors

Use notifications when certain events happen. Learn, adjust and keep control over your pricing management easily.

How SYMSON customers deal with price automation

802K
Prices automated
273k
Prices optimised
in margin
indi logo
Erwin Hendricks, a client of SYMSON happy to have optimsied prices using SYMSON
“SYMSON helps us make our pricing process more intelligent.” - Erwin Hendriks Head of Pricing, Indi.nl
See case study
80%
Increase Revenue
4X
Customer Productivity
“Before 2020, we sent a few email blasts with MailChimp here and there, but it wasn’t a focus. Once we shifted away from retail-only sales to eCommerce sales”
See case study
90%
Increase Revenue
5X
Customer Productivity
“Before 2020, we sent a few email blasts with MailChimp here and there, but it wasn’t a focus. Once we shifted away from retail-only sales to eCommerce sales”
See case study
Book A Demo
AMAZING DESIGN

Here's what our customers say

30%
Faster Responses
18%
Increase in ARR
"I can't believe how much easier Unicorns made our lives. We're saving so much time with their automated tracking!"
See case study
80%
Increase Revenue
4X
Customer Productivity
“Before 2020, we sent a few email blasts with MailChimp here and there, but it wasn’t a focus. Once we shifted away from retail-only sales to eCommerce sales”
See case study
90%
Increase Revenue
5X
Customer Productivity
“Before 2020, we sent a few email blasts with MailChimp here and there, but it wasn’t a focus. Once we shifted away from retail-only sales to eCommerce sales”
See case study

Optimise your margin with intelligent pricing software

The Cover of the White Paper of SYMSON for increasing your price potential

Download Whitepaper

A price optimisation project is a major undertaking for any company. To help you make the right decisions in the process, we have written down our best practices in this white paper.

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