TCS Optumera™ Price Optimization
Unified. Automated. Intelligent.
Products and platforms
TCS Optumera™
TCS Optumera™: AI-Powered Strategic Intelligence Platform for Retail
Industry
Retail
Omnichannel CX and Intelligent Innovation – The Future of Retail
HIGHLIGHTS
- TCS Optumera™ Price Optimization helps you take complete control of pricing throughout the product lifecycle.
- By infusing the power of AI into the art of pricing, it helps pricing managers and analysts not just respond to external factors, such as competitor prices and cost changes, but also stay ahead of financial targets.
- Supported by powerful simulations, category managers can determine optimal pricing strategies, ensuring alignment between business objectives and pricing policies.
- With transparent and intelligent price recommendations, you can improve price perception, increase full price sell through, drive loyalty, and drive sales and revenue.
- TCS Optumera Price Optimization is a fit-for-purpose solution that allows you to accelerate business growth and transformation with a comprehensive ecosystem of algorithms, business use cases, microservices, and accelerators.
About this solution
ABSTRACT
Pricing is one of the quickest ways by which you can improve customer perception, brand loyalty, and your top and bottom line. But price optimization has become a moving target due to increasing price sensitivity, ever-evolving demand patterns, and the proliferation of stock keeping unit (SKUs) and channels. This is compounded by macroeconomic factors such as inflation, supply chain costs, and unforeseen disruptions. Setting competitive prices for millions of SKUs using manual methods is difficult and unsustainable.
When the stakes are so high, what you need is an AI-powered solution that allows pricing managers to strategize every aspect of pricing throughout the product life cycle and make customer-centric yet profitable decisions while responding swiftly to market dynamics.
OVERVIEW
TCS Optumera Price Optimization helps retailers take complete control of pricing throughout the product lifecycle, from setting optimal base prices to driving smart promotions and making markdown decisions. It infuses the power of AI into the art of merchandising, helping pricing managers and analysts make integrated decisions and respond in near real-time based on competitor prices, cost changes, demand patterns, and inventory position. They can easily experiment with different pricing strategies such as dynamic pricing, competitive pricing, channel-based pricing and promotions, and store-level markdowns, and make decisions with confidence.
OUR SOLUTION
TCS Optumera Price Optimization takes a multi-dimensional approach to price optimization by considering critical factors that impact business KPIs. By leveraging advanced pricing intelligence and analytics, TCS Optumera provides effective price recommendations that align your business priorities and pricing decisions to improve ROI and enhance customer satisfaction. Equipped with transparent and intelligent price recommendations, you can improve price perception, drive loyalty, and increase sales and margins.
TCS Optumera is powered by robust ML models that are fine-tuned by data scientists and practitioners having decades of experience in retail management. By infusing pricing intelligence into your pricing process, TCS Optumera maximizes outcomes by continuously learning and adapting to emerging business needs. The solution:
- Offers competitive intelligence on price, product, and promotions to recalibrate pricing strategies and outsmart competition
- Complements price management by fine tuning pricing and identifying the most profitable price points based on demand
- Empowers category managers to make pricing policy decisions through powerful simulations
- Offers end-to-end visibility of price changes and makes transparent price recommendations with insights into trade-offs
- Enables autonomous and alert-driven pricing operations to manage by exceptions
- Offers a rich set of rules and configurations for localized pricing aligned with your business objectives
- Provides simple workflows for effective collaboration across pricing and merchandising teams
- Comes with rich visualizations, configurable dashboards, and notifications to track and manage SKU performance with ease
BENEFITS
- 3-5% increase in sales
- 5-7% increase in margin
- 4-6% faster inventory turnover
- 30% improvement in team productivity
- 7-10% higher demand forecast accuracy
- <15 mins to make pricing decisions
TCS Optumera™ helps Action keep their brand promise of always offering quality against the lowest price possible. Without this solution, it would not be possible to expand to so many countries in such a short period while maintaining our price strategy in a scalable way.
