How to maximise your profit  for sustainable business growth

Focus on prices instead of costs to improve your profit margins and revenue.

A man using the Smart AI Pricing tool SYMSON to increase his profits
"A 5% price increase without volume loss and average margins can easily lead to a profit margin increase of 30 – 50 %."

SYMSON

Why do businesses need to care about maximising profit margins?

Your profit margins determine the profitability of your products and services – the higher, the better.

Businesses need a good profit margin per product or service to optimise overall profitability of the businesses. If a product or service costs more to make than it sells for, the business will eventually lose money. This is not sustainable in the long run.

Especially during times when costs rise e.g. due to inflation or when new competitors enter the market, profit margins come under pressure. Therefore, businesses always need to think about profit margin improvements to ensure a sustainable business or to accelerate revenue growth.


What are the biggest challenges during price optimisation?

A customer that is happy to have increased their margins and revenue using the smart AI Pricing platform SYMSON
Challenge #1

Increased Costs

During inflation times, costs usually increase.

  • Rising costs lead to lower profit margin.
  • Harder to predict future prices of suppliers.
  • Profitability of organisation is more unstable.
A user that cannot optimise their margins because they are not using price elasticity analysis in SYMSON
Challenge #2

Price Elasticity

If you want to optimise your prices, you want to know the relation between the price set and quantity sold.

  • Demand for products usually decreases when the price is increased.
  • Price elasticity is different for each product.
  • Customers may respond negatively to your businesses if the price is increased or they might even switch to a competitor.
A client unable experiment with cost changes because they are not using the run predictions module in SYMSON
Challenge #3

Degree of experimentation

Companies do better if they are entrepreneurial and think in action.

  • Try to set up smart experiments to test the correlation between the price and quantity sold.
  • Business experimentation and thinking out of box can help a company prosper and grow.
  • A company needs to adjust and track the customer behaviour and market changes and in order to stay competitive.

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

37K
Prices Optimised
18%
Increase in Margin
Bernard Verburg, a client of SYMSON happy to have an increase in margins
"With SYMSON, the company's price management improves enormously, causing the company to acquire higher margins." - Bernard Verburg, CEO of MegaGroup
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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