Pricing engine

Maximize conversion and profits with an omnichannel pricing, offers, and promotions engine. Deliver the best performance in the cloud and at brick-and-mortar locations by taking advantage of a unified engine and business portal.

For the last 10 years, we have been helping Fortune-1000 retailers, brands, and CPG companies modernize their pricing engines and achieve a unified commerce experience. The pricing offers and promotions engine architecture includes the core operational engine that can calculate total order value in milliseconds. It provides a merchandising portal to manage promotions and offers with flexible business rules by category or attribute of a product or SKU, and includes an algorithmic platform to augment merchandising decisions and provide real-time offers functionality.

How does our pricing engine work?

The platform follows a microservices architecture to enable high speed of innovation and composable commerce best practices to integrate with any modern digital customer experience platform. It can be deployed in the cloud and in stores to ensure a high-performance calculation of the total order value even if the store internet connection is slow or unavailable. To ensure millisecond latency and data quality, we designed an innovative data architecture, caching strategy, and self-correcting data synchronization algorithms.

The pricing engine includes AI-powered promotion planning and real-time offers functionality to maximize conversion and profit, while avoiding over-discounting and helping to ensure retailers don't leave money on the table. It ultimately reduces the manual work merchandisers have to do, increases the quality of decisions, and lets teams focus on business goals instead of fine-grained pricing and promotions, while still leaving room for overriding any decision if necessary.

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How to build a pricing engine for unified commerce offers and promotions
In this article, we describe the features of a modern omnichannel pricing, offers, and promotions engine. We present a reference architecture to build the engine that satisfies unified commerce best practices and can be deployed in the cloud or at the edge in stores. We then delve into more advanced functionalities and how pricing can be optimized using AI.
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Unified commerce: making the most of a true omnichannel experience
This article focuses on the big picture and presents a comprehensive omnichannel commerce architecture and approach. It outlines the importance of the unified commerce platform for both customers and business users, challenges with separate point-of-sale and online platforms, and discusses the technology strategy needed to build a unified, but composable commerce platform.
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Predictive analytics for promotion and price optimization
This article describes a reference implementation of a price and revenue management tool that showcases the main capabilities of AI-based price optimization software and features several advanced techniques. We start with a strategic vision of a price analytics solution, then build a demand model, and finally develop a fully automated optimization application.
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We provide flexible engagement options to design and build omnichannel pricing, offers, and promotions engines augmented with innovative AI capabilities. Clients can take advantage of our accelerators to increase their speed to insights and reduce risks. Contact us today to start with a workshop, discovery, or PoC.