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Advantages of PO&M software: Three steps to help you find the right one

December 5, 2019 in Blog

Convinced that adopting PO&M software is the next step on your journey to pricing excellence? Then your first task is to figure out which one will work best for you and your pricing team, and then to evaluate the benefits of using a PO&M software.

There are hundreds of tools listed in Capterra’s price optimization software directory alone, not to mention on the market as a whole. The available features range from simple price data management to full-blown price optimizations & process automation.

The three steps outlined below will help point you in the right direction so you can start drawing up a list of PO&M options and their advantages that will lift you and your team up rather than weighing you down.

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eCommerce pricing: How to stay competitive without loosing profits

November 13, 2019 in Blog

Profit is the driving force behind any retail business! The bottom line of your business is to grow your bottom line. You need to make money in order to keep your business afloat, but you also do not want to price yourself out of the marketplace by pricing your merchandise too high.

In today’s retail world, eCommerce accounts for over $3 trillion in overall sales and you can’t afford to pass up your piece of the profit pie! Digital technology now makes it possible for customers to compare prices on the items they want at many different retailers in seconds, and most customers will purchase the item they want from the retailer who is offering the most competitive price.

So, how do you ensure you are pricing your merchandise to sell?

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What is Price Optimization & Management (PO&M)?

November 10, 2019 in Blog

What is Price Optimization & Management and how should you choose the right PO&M solution for your business?

‘Price Optimization & Management’ or ‘PO&M’ for short, refers to the technology and processes that an organization uses to efficiently manage and optimize the price of its products and services, both external and internal, including actions such as:

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Last Month’s Best Pricing Reads – October 2019

November 2, 2019 in Pricing Monthly

Every month the Price Edge team puts together a curated list of all the must-read pricing articles picked-up from a variety of trusted online sources.

If you are curious and looking to learn more about pricing, you should definitively read the Pricing Monthly.

Here is a list of last month’s best pricing reads: Continue reading »

What is the best software for fully automated dynamic pricing in e-commerce?

October 17, 2019 in Q&A

Dynamic pricing, price optimization, profit-maximizing software; we find many names for those we love. I will try to answer: what type of software support e-commerce companies use for full automation of changing prices to maximize profit and/or market share.

To keep this text on a high level I will elaborate on the pricing of two important categories of products: key products and tail products.

Key Products
Like traditional retailers, e-commerce companies are keen on being seen as the most price competitive on the key products. Wheater you are a consumer electronics company offering iPhones and Samsung TVs, a street clothing retailer selling Adidas or Nike sneakers, or you are shipping newly released books to your Continue reading »

eCommerce: The Importance of Setting the Right Prices

October 11, 2019 in Blog

Remember the last time you visited your favorite shop? Let’s remember those moments together and see how it relates to e-commerce pricing.

You went into your favorite store, gazing through the stalls briefly, touching a couple of the items for the feel and texture. Suddenly, you found your perfect match. You grab it and place over your body to see if it really looks great on you. You loved the item and the only thing between owning it is the price tag. You find the price tag after a quick search, flip it, and check how much it’s worth.

Yikes!

It costs a lot. It’s not a bargain, it’s not a deal so you give up, and probably leave the shop after similar experiences.

Now, this is a quite common offline shopping story and the example here was mainly for the fashion industry, but if you think that the experience is different in e-commerce you’re wrong! The decision process is way faster than that.

Because in e-commerce pricing, the prices are right there in front of your eyes with the product name, images, and descriptions. Therefore, the e-commerce pricing of any product is one of the most crucial qualifiers when consumers start browsing that product.

Now what?

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Price Edge Named as a “Sample Vendor” in Gartner’s Hype Cycle for Multienterprise Solutions, 2019

October 3, 2019 in News

Price Edge, a fast-growing provider of Price Optimization & Management (PO&M) solutions, today announced that it has been identified as a Sample Vendor in the Gartner “Hype Cycle for Multienterprise Solutions, 2019”  report. Price Edge was named as a Sample Vendor in the “Price Optimization and Management for B2B” category.

Utilized by some of the world’s leading companies, Price Edge’s technology enables company-wide price transformations leading to increased margins, more efficient pricing operations, and more satisfied customers. Price Edge’s primary offer is a cloud-based PO&M solution that makes it dramatically simpler for enterprises of all sizes to set and manage optimal prices. Continue reading »

2019 PriceEdge Retreat

September 30, 2019 in Blog

Two weeks ago, the Stockholm and Bucharest office spent a couple of great days together in Sicily outside Marsala, to work together, reconnect, and plan out our growth plan for the next 12 months. We set up camp in a fantastic Airbnb where we worked, cooked, and shared stories together. As a team, we wanted to celebrate our success, and spend some time away from the everyday hustle, to think about our company vision, and work on strategies for the future.

A retreat with coworkers can test the culture of a company, but for the Price Edge team, it felt more like a family reunion than a company event. We already spend time with each other out of the office, but the benefit of going on a retreat is that it encourages rewarding conversations and collaboration in a new, relaxing environment.

Looking Toward the Future

Our company trip was a roaring success, and we look forward to putting the conversations we had in to work. We’re already looking toward the future with excitement as our team grows quickly to meet the demands we have from our clients.

Company get-togethers are one of the best ways to keep your team engaged and highly motivated. It also helps to bond further between team members while having fun in a different environment.

You can check out some of what we got up in our pictures below.