Quality Digest Looks at Automated Pricing Technology

Quality Digest Looks at Automated Pricing Technology

Dallas Crawford of QueBIT was recently featured in Quality Digest discussing the benefits of adopting automated pricing technology. Read the entire article here.

According to Crawford, most manufacturers are not currently using AI (artificial intelligence) and Machine Learning to set prices based on customer behavior, segmentation, and demographics.

Hard costs including additional headcount, full-time employee hours, lower margins, and lost sales are quantifiable metrics to consider when justifying automated pricing technology.  There are also soft costs to consider, from delayed response times as market dynamics shift and the cost of time spent on data entry and manipulation (rather than analysis and customer engagement).

With increased competition and disruption, manufacturers must leverage automation to achieve operational efficiency. Automation of any process delivers higher productivity, lower costs, improved workplace safety, enhanced precision, and ultimately allows associates to focus on more valuable activities.

QueBIT PriceAlign enables robust management of pricing strategies, while eliminating implementation time, complexity, and costs typically found in other pricing solutions. PriceAlign delivers significant improvements in revenue and margin by providing a clear, guided user experience via insightful dashboards and comprehensive pricing science. The ease of setting and managing pricing boundaries sets this solution apart.

PriceAlign delivers significant efficiencies for any organization using simple rules or trial-and-error methods to derive prices, especially if corporate objectives include adjusting and maintaining prices at the most granular level. This best-in-class solution allows customers to maximize margins, retain customers, and grow market share through optimal pricing strategies including:

  • Cost Plus
  • Competition
  • Value-based pricing
  • Dynamic Pricing
  • Price Elasticity

PriceAlign gives customers enterprise-wide control of the entire pricing process by raising pricing strategies to new levels of sophistication. Through rapid deployment, customers achieve dynamic pricing based on a variety of factors and understand price elasticity across different products or regions. The recent global pandemic has clearly demonstrated the need and benefit of rapidly adjusting prices down to the most detailed levels and market conditions.

Follow QueBIT PriceAlign on Twitter at @AskQueBIT and connect on LinkedIn.  

Media Contact
Company Name: QueBIT
Contact Person: Jennifer Field
Email: Send Email
Phone: 914-329-4745
Address:49 Secor Road
City: Scarsdale
State: NY
Country: United States
Website: https://quebit.com/predictive-price-optimization/