Pricing in retail now demands tools capable of supporting big data, machine learning and artificial intelligence

January 18, 2019

Having an SAP ERP at your disposal often empowers your business in ways you wouldn’t have even thought possible, as a owner.

While looking to gain insights from similar experiences with the ones our clients have – by browsing various SAP solutions and success stories, such as this prototype for an Assistant Bot (associated with SAP Business One, in this introductory video) – we validated our idea that real time capabilities are no longer optional, but mandatory, in more and more market areas:

Real time pricing is one thing that caught our attention – because the retail industry businesses need to be able to compete in quality, as well as in speed and reactivity, while detailed changes instantly impact them and their business partners all through the supply chain. With real-time pricing (for example), as well as with any other real-time digital tool enabled by a modern ERP, you can react in due time and remain on top of the fast movements in your market segment.

Find out more about the key importance of real-time pricing in the current retail market from this article, based on the Targeted Research Report “Raising Your Price Strategy IQ”.

It suffices to say that 46% of retailers do employ advanced pricing software. Clearly, the rest 34% retailers are at a disadvantage.

Adopting an ERP and customizing it in accordance to the specific needs of your bussines opens up many further perspectives. New tools, integrations, 3rd party software solutions: great ERPs, such as SAP have the premises pre-built in their structure.

As an SAP Partner, we are here to help you with SAP cosultancy services, solution architecture, implementation and post-implementation services – just get in touch with us and let’s start planning!

 

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