Direct economic benefits

The direct economic benefits arising from biQ Pricer and from the design and achievement of price optimization are many and quit obvious. The key is that the application of price optimization through automation enables the company to focus on different goals. Some of these are the optimization of margin, the management of sales volume for achieving objectives, the management of sales volume in relation to profitability.

For example the speed of sales related to specific products are often very high, which means that only a small percentage of sales growth or a slight increase in profit margin equals significant benefits over a year.

Align product group strategies

The approach to the management of product groups is to define a specific strategy to ensure that the role and purpose of each category is applied. These strategies tend to focus on market conditions, competitor actions, trade margins, and acquisition cost.

Using biQ Pricer allows strategic approaches for determining selling prices to be applied automatically. This ensures the integrity of selling prices helping overall in minimizing the required time to manage the hole process.

Automation benefits

Using biQ decreases the time required for the production price. This enables the team responsible for the prices to devote time to other important tasks for the profitability of the business.

Furthermore very important benefit is the elimination of errors in selling prices, one that can have a negative impact on the business. Ie too high or low.

Ensuring consistency on prices

Avoid any price consistency problems such as price differences between similar products or for example different colors or flavors of the same product.

Consistency with the price differences between private label and branded labels. By ensuring consistency on prices consumer confusion is avoided, while respectively strengthens the pricing image that the company wants to impose.

Quick Decision Making

Using biQ Pricer dramatically increases the speed of decision making. By automating setting selling prices releases staff time for more productive activities since 10% of the products have great difficulty in determining price.

This increase in speed enables the company to review and compare the prices of competitors much more often. For example, allows for reviewing and updating prices on a weekly or daily basis, if needed and often within the same day.

The possibility of multiple «what-if"" scenarios with different goals is something that can be applied before taking decisions total price, providing greater speed in decision making.