SOURCE: Symphony EYC

Symphony EYC

June 23, 2015 09:00 ET

Symphony EYC Announces G.O.L.D. Price Optimization

New Merchandising Application Delivers Speed, Omni-Channel Consistency, and Flexibility Needed to Apply Pricing Policies in a Dynamic Market

PARIS, FRANCE--(Marketwired - Jun 23, 2015) - Symphony EYC, the leading provider of software and services for retailers, wholesalers and manufacturers, today announced G.O.L.D. Price Optimization, a new software offering that helps retailers establish a pricing policy and then optimize SKU pricing across multiple channels. Designed to increase sales and profit by setting the most advantageous price at the perfect time, G.O.L.D. Price Optimization delivers the speed, omni-channel consistency, and flexibility needed to apply pricing policies in a dynamic market.

G.O.L.D. Price Optimization leverages customer information to provide key insights into micro and macro trends regarding consumer purchasing. A rules engine allows retailers to set individual pricing policies, which are then executed via optimization algorithms based on demand curve and elasticity models. Once retailers have defined their category goals on margin and sales volume, G.O.L.D. Price Optimization will propose the optimal price for each SKU while respecting the pre-defined rules. This intuitive pricing process allows retailers to adapt to rapidly changing markets with automatic price corrections. With G.O.L.D. Price Optimization, retailers can:

  • Streamline the pricing process with an intuitive user interface,
  • Improve coherence within the organization,
  • Predict the ideal price with scenario-based analysis,
  • Ensure consistency across channels,
  • Ensure pricing policies are implemented correctly across all channels.

"Retailers have always found it difficult to implement pricing policies fast enough to keep up with changing trends from consumers, suppliers and competitors," said Donal Mac Daid, vice president supply chain, Symphony EYC G.O.L.D. Solutions. "With G.O.L.D. Price Optimization, Symphony EYC is providing a tool to help them set omni-channel pricing policies, increase sales and margin, reduce errors, costs and lead times while enhancing consistency and control."

G.O.L.D. Price Optimization is available as a complement to the G.O.L.D. Price Management and Price Execution modules within G.O.L.D. Merchandise Management, or may be installed as a stand-alone module. G.O.L.D. Price Optimization data also can be combined with G.O.L.D. Assortment Management and Space Planning in order to align pricing more closely with customer demand.

Interactive Resources

Read the customer story on how Italy's Iper Group implemented Price Optimization

Find out more about G.O.L.D. Price Optimization and G.O.L.D. Merchandise Management

About Symphony EYC
Symphony EYC is a strategic partner to more than 1000 retailers, manufacturers and wholesalers worldwide, offering sophisticated customer analysis services and the industry-leading G.O.L.D unified retail platform. The breadth of Symphony EYC solutions and services optimize profitability by delivering highly targeted product assortments across all channels supported by reliable and responsive retail operations and supply chain execution. Symphony EYC customers include 15 of the world's 30 largest retailers, thousands of retail brands, and hundreds of national and regional chains. More at www.eyc.com and follow us on twitter @SymphonyEYC

Contact Information

  • Symphony EYC Press contact:

    Joan Geoghegan
    Email Contact
    978-371-3921