Company Enhances Solution With Data-Driven Recommendations to Help Produce Faster, More Practical Pricing Decisions for a Range of Businesses
Kaizen Analytix LLC, a leading provider of data, analytics, and technology solutions, announced the launch of KaizenPriceTM, a new AI-based, smart-pricing recommendation software designed to help small- to medium-sized businesses (SMBs). The company also announced a significant integration with the Square POS System.
KaizenPrice, the newest offering from Kaizen Analytix, gives companies powerful pricing recommendations and demand forecasts. The solution helps companies develop pricing strategies to drive revenue, profit and volume — proven to deliver a five-to-15 percent revenue uplift.
“Pricing products and services is one of the most challenging decisions businesses can make, especially with the fluctuating marketplace and ongoing supply chain issues we’re seeing today,” said Krishna Arangode, CEO at Kaizen Analytix. “We felt the timing was perfect to launch our KaizenPrice solution, providing companies with more streamlined, data-backed recommendations to help them set pricing options for their products and services with more confidence.
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KaizenPrice integrates with Square’s POS platform, simplifying the setup process and enabling customers to seamlessly pull transaction data and bring faster, more relevant information to the platform. In just a few clicks, Kaizen can now deliver custom pricing recommendations and sales forecasts based on customers’ transaction histories from Square. Kaizen is working to support integrations with other popular POS platforms as well.
KaizenPrice is applicable to a range of businesses — from retailers to restaurants to service providers to amusement and entertainment venues. The solution streamlines pricing through advanced analytics and robust features, including:
- Optimized price recommendations for all of a company’s products and services across a 15-month time horizon;
- Accurate daily demand forecasts by product;
- Ability to analyze external factors impacting demand;
- Scenario planning to test out different price points and their impacts on demand and revenue;
- Ability to easily refresh data and recommendations; and
- Flexible controls and settings.
“KaizenPrice is all about allowing businesses to hit their revenue and margin targets with smart pricing recommendations, but one of our biggest secondary goals is saving businesses time,” stated Chief Product Officer Andy Williamson. “Our integration with Square will enable businesses to leverage our insights with greater ease and efficiency.”
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