SYMSON Pricing

Creating and being able to combine multiple price strategies helped us to implement our new pricing strategy. Using AI recommendations for optimal prices and customising them with business rules is simple and required minimal help from the support team. The automation of the pricing process is successfully implemented with our current software, reducing time spent on pricing even more.

The inclusion of some custom rules took more time than we expected. The other thing was that we did not have previous sales data that worked with the software and so we needed to clean our data in order to have good price optimisations. The symson team was happy to help with the data formatting and to get us up and running.

One big advantage and the biggest functionality of SW is artificial intelligence. I'm a big fan of this process and all the algorithms and strategies the app includes for computation are unreal. Individual rules can be flexibly modified to control automation. The interface is user friendly and simple. Most of all, I liked the ability to run simulations and view the evolution of future situations that can be defined to predict possible outcomes. This can ensure the best possible price for customers over time. Of course there is competitor data to show exact market positioning. The solution is cloud-based, so there was no problem with deployment. It helps to understand more about the price elasticity of your products just because of AI and Machine learning algorithms.

Some rules may take some time to adjust and deploy, but they will get set up. If we insert already cleaned data, we can start using it from the first moment. We had to use the app support where their team helped us clean our data and we could work after the tear. As such, we were very happy with the app and it suited us in every way.

The competitor tracking helped us visualise the pricing process of our competitors. By monitoring this data we were able to better adapt to the changing environment. The price updates also worked fast and responded to changes so that our prices stayed at our desired level.

Sometimes there are large updates that cause slowness in the platform, but that is usually brief.

You can separate customers into different groups depending on offerings, the size of the company and other factors. The algorithm is transparent with its results, so we get to understand the logic behind every price decision and adjust custom strategies for each grouping.

The software is pricy compared to other pricing software, but its many functionalities seem to warrant the higher price.

Price Elasticity is flexible. Optimal Price Recommendations are accurate and increase our margin and pricing effectiveness on our quotes. The rules and strategies are straightforward to set up and modify. The software offers a lot of useful and flexible pricing rules and is a great tool to calculate the best prices for our quotes.

The main problem we had was that it required our data to be very well structured and doing that for every product took quite a bit of time. Because of this, we weren't able to optimise all our product quotes immediately. We are now working on getting our data quality up to the expected level.

The software has some nice options for inserting pricing data and combining different strategies. The explanation for each strategy is also helpful when choosing what to use. There is also the possibility to run simulations with the selected strategies and see potential results.

The dashboard is comprehensive and takes some getting used to.

SYMSON has the capacity to run predictions on future business scenarios to see how my proposed price changes would affect demand.

Works best when it has a volume of data to work with so the longer you use it, the better the recommendations, so if your company is young and you have little sales data, the quality will be worse.

The most significant advantage is the flexibility of the tool. Every pricing strategy is possible, it gives me reliable scraping of information and offers transparency over market trends and justifications for the recommended strategy.

No standardization across portals makes working in multiple portals somewhat complicated.

I’ve been using Dynamic Pricing for my entire product portfolio. It led to higher profits from sales thanks to being able to compare our prices with those of our competitors.

I like that it allows us to automate our pricing and helps us make the most money based on our competitor’s pricing. Can even price based on location and it’s very easy to use.