Revionics Launches Price Optimization Offering
Published in CSP Daily News
Integrates installed customer service, enterprise systems
SACRAMENTO, Calif. -- Revionics Inc. has launched the Revionics Advanced Pricing System (RAPS), a price optimization offering, for the food distribution industry. Tailored to fit the unique needs of foodservice, grocery and convenience distributors, the Revionics offering will seamlessly integrate with existing installed customer service and enterprise systems used by distributors.
The RAPS offering helps distributors analyze prices by customer type, geography, and other factors, then the system generates optimum prices for distributor's customers to maximize profits and revenues. RAPS [image-nocss] does this by analyzing demand intelligence to interpret customer trends and price sensitivity, applying advanced pricing science to determine optimized prices. Optimized prices are then made available to all customer touch-points including outside sales representatives with laptop or handheld computers, call center systems, and internet-based customer self-service systems.
Price and promotion optimization, available for many years in the retail industry, is now an essential technology for distributors previously limited to rules-based pricing tools. Rising food, fuel, and labor costs are driving distributors to price more competitively to retain customer loyalty.
Offered as a subscription service over the internet, Revionics technology is an affordable, easy-to-deploy method for improving profits and to see a quick return on technology investment.
"For years, distributors have seen the value of using demand intelligence to optimize purchasing. Now, Revionics is using a variation of similar technology to calculate price elasticity by item and by customer type to help distributors improve how they price," said Todd P. Michaud, president and CEO of Revionics, who added, "Revionics is pleased to be working with a number of leading food distributors, helping them be significantly more profitable."
Revionics is a provider of full-lifecycle price and promotion optimization technology for retailers and distributors in the "fast-moving consumer goods industry." The Revionics Advanced Pricing System (RAPS) generates increased sales and profits through demand intelligence and proprietary pricing science. The system optimally determines base pricing, promotional and ad pricing, temporary price reductions and markdowns. The Revionics offering is available as a Software-as-a-Service (SaaS) subscription offering over the Internet. The service includes advanced price modeling, optimization on-demand, scenario forecasting, and advanced category analytics.
Headquartered in Granite Bay, Calif., near Sacramento, the company services more than 100 clients throughout North America.