Retail and distribution software provider, Aldata, and retail intelligence solutions supplier Dacos Software, have teamed up to help retailers gain competitive price advantage and improve results by optimising price lines in product categories.
Through the partnership, Aldata will supply the Dacos Price Engine, which the duo claim will enable retailers to manage and optimise prices with respect to consumer buying behavior, price strategy, price rules and rival prices, to compete more effectively.
The Dacos Price Engine is said to offer ease-of-use and a runtime measured in seconds, simplifying the process of daily pricing decisions by simulating and optimising prices in real-time.
“As raw material and fuel prices soar across the globe, retailers are looking at alternative ways to ensure pricing remains competitive and they can react to market changes quickly and effectively,” said Allan Davies, Aldata’s EVP optimisation solutions.
“This partnership support’s Aldata’s strategy of offering complementary best in class technology that enables our customers to optimise key processes for fast return on investment.”
According to the two companies, traditionally European retailers have lagged been behind the US when it comes to adopting price optimisation solutions.
The trend is now swinging, they said, with 54% of European retailers currently looking to upgrade or implement price optimisation solutions for the first time, according to Martec International research conducted amongst 130 global CIO retailers.
Joachim Hertel, CEO with Dacos Software, said: “The Dacos Price Engine offers retailers a highly intelligent and intuitive price optimisation process. The solution does not require much training and can be used by decision makers autonomously. Moreover, the Aldata and DACOS solution allows flexible connection with external data sources.”
The partnership will initially be rolled out across France, aiming at a subsequent international rollout via Aldata’s subsidiary operations and distributors worldwide.