Profitechnics announces Business Rules Management for Pricing.

PRLog (Press Release) - Apr. 20, 2011 - Profitechnics, the Data analytics and Price optimisation specialist has launched the next phase in its price management tool – Business Rules Management (BRM). BRM provides a comprehensive facility to manage the interactions between competitor prices, and differentials created between brands and sizes, to ensure that all the rules the business needs to maintain an effective price strategy can be created and maintained in a single, straightforward process.

Barry Grange, CEO of Profitechnics says “Our extensive research, combined with over 15 years of price optimisation shows us that the main inhibitor in generating perfect optimised prices is managing the complexity of differentials within each category. Every time a price changes, or a promotion is put in place, these differentials are affected. For many retailers using our competitors’ products, the effort involved in maintaining these differentials causes delays, inaccuracies and failed optimisations. BRM addresses this by making the whole process central, straightforward and integrated to the overall pricing process” and provides the functionality to undertake the rules conflict resolution as part of the same process.

Iain Nicol, SVP at Profitechnics adds “Customers using the Profitechnics pricing engine can now be absolutely sure that their business rules are correctly applied, up to date and practical. This means that the pricing process can be much more focused in applying prices. This has given our users a tremendously high level of confidence in the prices they apply, and the real-world benefits they provide bear witness to this”  

About Profitechnics
Profitechnics provides a SaaS solution that delivers optimised retail prices enabling retailers to maximise the overall sales, profit, margin or contribution of a portfolio of products taking account of all the touch-points that affect demand, including sales, prices, promotions, competition, advertising and more. Profitechnics uses basic retail data to build leading-edge elasticity models and sales forecasts. The retailer’s goals, strategies and constraints are then applied and the system defines a new set of optimised prices that will achieve the goals the retailer has set – be they for more profit, revenue or competitiveness. Apply those optimised prices, and the return on investment ratio can be as much as 30 to 1.

The Profitechnics optimizer is a completely new concept in price optimisation for retailers. We provide all the sophistication but without the hefty price tag you get with other optimisation providers. How?

•   By undertaking all the complex computer processing, and using the cloud to ensure on demand computational power

•   By streamlining the process, using secure, resilient, cost effective technology

•   By giving the retailer all the control, responsiveness and usability but without the effort of running the complex systems

•   By removing the huge up-front costs usually associated with such a system

Profitechnics is the new generation service based, science orientated Price Management application for retailers which manages the complexity of Optimisation and conflicting rules through an easy to use web based UI, characteristics unique to the retail industry.

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Click here to find out more about Profitechnics http://www.profitechnics.com

Profitechnics is the new generation service based, science orientated Price Management application for retailers which manages the complexity of Optimisation and conflicting rules through an easy to use web based UI, characteristics unique to the retail industry.