STOCKHOLM, May 11, 2017 /PRNewswire/ --
Navetti, a global leader in price optimization systems, is pleased to announce that Navetti AB and ToolsGroup have agreed to cooperate in all markets served by the companies.
Navetti is a global leader in systems and solutions for price optimization and operational pricing, and ToolsGroup is the world's most experienced provider of demand analytics, inventory optimization and supply chain planning software. The cooperation means that the companies will work together to deliver integrated solutions for companies looking for both increased revenue from better pricing and improved efficiencies from better inventory management.
– The cooperation is a perfect fit for many companies that look for ways of to achieve better top-line growth as well as improving their margins, says Andreas Westling, CEO of Navetti. At Navetti we have an increased focus on partnerships and alliances, as we look to ways of scaling the reach of our Navetti PricePoint™ price optimization system. These partnerships include both implementers and value-adding complementary system solutions. In this case the new partnership between Navetti and ToolsGroup allows us to combine the capabilities of ToolsGroup's SO99+ and our Navetti PricePoint™ platform to improve client performance in both pricing and inventory management. Our technical teams have secured alignment of data models and shared scalable integration approaches.
"We are very pleased to form a strategic partnership with Navetti," said Joseph Shamir, CEO at ToolsGroup. "We believe that by combining ToolsGroup's expertise in leveraging big data and analytics for providing Powerfully Simple Solutions for Supply Chain Planning, with Navetti's expertise in Operational Pricing, we can provide to the market an end-to-end solution to accelerate business performance."
In 2003, when Navetti started its pioneering work in pricing and price optimization, most companies had an ad hoc approach to pricing. Even large blue-chip multinational companies had a fragmented pricing strategy, often based on local experts' opinions about their respective markets or with "cost-plus" as the starting point for setting prices. Even though most companies have evolved and today are more professional in how they manage pricing, unless they follow a customer-centric approach most companies will still fall short in their price optimization. Price too high and you lose sales – and customers. Price too low and you give away your profits – and maybe also risk triggering a price war with your competitors. This is where Navetti's pricing expertise comes into play.
The Navetti approach is called "Operational Pricing", which generates sustainable incremental profits for their customers by both optimizing prices and creating internal efficiencies. It is based on three basic principles: 1) Understand the customer perceived value, 2) Monitor the competitive situation and 3) Adjust for local market conditions. Navetti uses its software, Navetti PricePoint™, and its consultancy division, Navetti Consult™ to help clients establish structured yet flexible pricing strategies that allow them to make highly informed business decisions instantly to manage their pricing strategy. The results follow fast: revenue improvements from applying Navetti's operational pricing approach tend to be in the range of between 5% and 15%, and start to be visible in as little as a few months, sometimes weeks.
Navetti offers a unique combination of advanced price optimization software and consulting expertise. Navetti PricePoint™ is the acclaimed software suite, an essential tool for day-to-day price optimization across all aspects of pricing strategy. This is supported by the expertise of the consultants at Navetti Consult™ that help customers achieve increased profits faster through insightful value-based pricing strategies and rapid system deployment. Originally developed to solve the complex pricing challenges in large international B2B markets, Navetti's approach of Operational Pricing is today equally at home in B2C e-commerce applications, as demonstrated by a large and growing number of blue-chip customers.
ToolsGroup is a global provider of "Powerfully Simple" supply chain planning and demand analytics software. Our customers overcome volatile demand and challenging supply chains to generate accurate forecasts and outstanding customer service levels with less global inventory. ToolsGroup's solutions span key supply chain planning areas such as demand forecasting and collaboration, sales and operations planning (S&OP), demand sensing, promotion forecasting and multi-echelon inventory optimization (MEIO). For more information, visit www.toolsgroup.com or follow us on Twitter @ToolsGroup.
For more information, please contact:
Andreas Westling, CEO, Navetti AB
firstname.lastname@example.org, Tel +46-70-60-31-003
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