As the analytics and automation software industries are flourishing with new technology, online retailers are among the first to take on new tools and pricing solutions, meant to help them better manage and use that data to drive better outcomes, meaning higher margins.
With more online stores focusing on high-volume commerce and scaling their business, the demands, complexity, and repetition mount. Systems that used to work become increasingly inefficient and break down. When simple tasks like reporting, product documentation or dynamic pricing take more time and attention from employees, time spent on what’s important for development is sacrificed.
The solution is automation, with the help of cutting edge technology. Setting and automating the right pricing strategy saves time and hundreds of thousands in expenses or potential losses.
European start-up PriceFlux helps online retailers better use data and technology to enable real-time pricing. With PriceFlux’s pricing optimization software, e-commerce businesses can set any pricing strategy they wish, no matter how complex, for every single product in their assortment.
Priceflux helps retailers to better track, monitor and compare their competitors’ offer and pricing data through automatic product matching and competition analysis; price monitoring and detailed reports; fast API integration and easy to use dashboard with custom notifications; history, stock analysis, and pricing automation.
‘Technology and data management is changing the way online stores carry their businesses.Mihaela Becheru, co-founder at PriceFlux.
While pricing has been historically done in a spreadsheet, the extensive number of products and factors in the mix now mean that it is too difficult to do manually. Our price monitoring and automation platform help retailers better manage and use data to keep ahead of their competitors.”
“With our fast and accurate matching algorithm, online retailers can instantly display the best prices possible adapted to their business strategy, product price elasticity, and competitors they wish to stay ahead of, by automatically adjusting prices in real-time.”Mihaela Becheru
When it comes to user experience, the main advantage PriceFlux has over competitors is the fast implementation and the automatic product scanning:
“While our competitors require their clients to manually set up product URLs for both their websites and their competitors’, PriceFlux automatically scans entire categories, not just certain products, monitoring them in real-time, without being affected by product range fluctuation, new product listings and old product delistings.”explained Peter Lupu-Volcinschi, co-founder at PriceFlux and technical lead