Turning External Data into Accurate and Optimized Pricing
Pricefx delivered the firm a fully optimized pricing solution that closely predicts a customer’s willingness to pay based on a wide range of factors and variables (including seasonality, car size, and make and model) to better align them with market demand.
This improved the win-rate.
Price accuracy was significantly enhanced through the pricing system’s integration with Google Maps API, which accurately calculates lane distances. And Pricefx PriceBuilder was used to carefully manage prices, with guidelines, calculations, and simulations that help maximize margins on every deal and stamp out any underpricing.
PriceOptimizer took things a step further, using machine learning and data science to test and optimize pricing strategies against different segments, volumes and margins. And PriceAnalyzer provided highly detailed but user-friendly analytics and deep insights into areas of potential margin uplift and price increase opportunities.
The entire pricing infrastructure also integrated seamlessly with Salesforce.
Whether an agent was dealing with a customer or an automated web inquiry, the system amplified speed, precision, and profitability at every level.