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Automate your pricing process
A seamless integration with your favourite systems.
The pricing engine has many useful features to help you with automating your pricing process.
Do you want to unlock your pricing potential and learn more? Schedule a call with a consultant and book a 20 minute brainstorm session!
Out of the box tools delivered by our pricing engine.
Before the pricing strategy can be chosen, it is important to gain insights into price-determining factors. Is this mainly the cost? Then you can start with a cost-based strategy. Do you want to take competition into account in addition to costs? Then you can also combine different strategies with our Pricing Strategy Builder.
A pricing business rule is a constraint that reflects prior information of the user and can be integrated into the price optimization. The rules are applied to improve the pricing solution and find a better one than would be offered without these constraints. To start with the Price Engine these steps should be followed.
Write down the current constraints that are applied in your current pricing process. We at SYMSON are happy to help you set it up.
Decide which business rules belong to which product groups and market segments, configure these rules per customer group in SYMSON. After this is setup your pricing will be handled by the software entirely.
Look through the results of the strategy you have created, evaluate the results and export the data from the SYMSON API.
What if your prices are twice as expensive as your competitor's? Or what if your price increase per month is 25%? Your customer probably doesn’t like this and you aren’t attractive in the market. This can be corrected with the right business rules. If you start writing down your pricing process, then you start seeing what constraints are currently applied in the price position. This is the start of automating your pricing process via business rules.
It really depends on your pricing process. SYMSON has a set of business rules which can be used, but it’s also possible to make custom business rules.
The answer would be yes if the world is stable. But the world and the market circumstances are continuously changing. New competitors can pop up or new suppliers. This means that your pricing process should be flexible as well. SYMSON offers you the software to change and configure the business rules by yourself if needed.
Yes that is possible! You can give product (groups) multiple strategies in order to experiment which contributes the most to your business objective.
Yes, that’s possible. During the demo and setup, our onboarding team analyses your pricing process to translate this to the right combination of propositions to achieve your organisational goals.