PRICEXPERT

PRICEXPERT, developed by Advanced Pricing Logic, Inc., is a price optimization and analytics tool designed to assist retailers and distributors in optimizing their pricing strategies and maximizing profitability. This software is suitable for small to medium-sized businesses, as well as large retailers and distributors. Professionals in industries such as retail, distribution, wholesaling, merchandising, and pricing specialists can utilize PRICEXPERT to make data-driven pricing decisions and potentially gain a competitive edge in the market.

Key Features

Efficient and responsive: According to the vendor, PRICEXPERT allows users to price their entire inventory efficiently and with speed, potentially enabling them to react to competition and gain market share. Users can leverage internal, customer, and supply chain metrics to optimize prices and make data-driven pricing decisions.

Deep Analytics: Pricing with Intelligence: The vendor claims that PRICEXPERT provides advanced data warehousing technologies to analyze complex pricing problems and mine company and market data. Users can leverage their ERP and other external sources to integrate data into a single subject data model and analyze important metrics in their product lineup. The software allows users to set pricing goals, analyze data, improve projections, and measure the potential impact of price changes prior to implementation.

Everyday Price Automation: PRICEXPERT automates data collection and processing, which, according to the vendor, allows users to apply specific, market-aligned rules for every product and product group with ease. Users can quickly plan for specific seasonal and event-driven market changes and potentially gain better control over pricing strategies. The automation feature aims to save time and increase responsiveness, potentially helping users make more accurate price changes and improve revenue and profitability.

Bundling and Kit Optimization: PRICEXPERT enables accurate discounting based on real-time performance data for bundles and kits. According to the vendor, users can deploy virtual kitting of product assortments that align with their ERP systems, potentially freeing up time to focus on customers and sales strategy. The software aims to help users manage and align kitted merchandise pricing, ensuring optimal pricing and profitability.

Sales Promotion Pricing: PRICEXPERT allows users to create promotions based on analytics that meet their financial goals and desired revenue results. Users can leverage price elasticity of demand to optimize promotional pricing and balance price drops on promotional products with additional profit from halo products. The vendor claims that the software supports agile and intelligent pricing decisions based on data analysis, rather than speculation.

Competitive Data Analysis: PRICEXPERT integrates internal and curated competitive information, allowing users to track competitors and gauge their own pricing strategies against the market. Users can take steps against competitors' price strategies with real-time comparison and analysis. The software aims to provide a comprehensive solution for understanding and responding to competitors' pricing, potentially enhancing competitiveness in the market.

Tracking and Performance Analytics: PRICEXPERT offers automated tracking of price changes against new sales, allowing users to measure the effectiveness of pricing initiatives over time. Users can track net sales price to identify profit leaks and optimize pricing strategies. The software aims to provide real-time tracking and analysis of pricing performance, potentially helping users make data-driven decisions and improve profitability.