Syncron Named a Leader for B2B Price Optimization and Management in IDC MarketScape Report
The 2021 IDC MarketScape cited Syncron’s deep institutional knowledge of managing profit for global companies, solution ease of use, and pricing agility as key vendor strengths.
Syncron, the largest privately-owned global leader in intelligent SaaS solutions dedicated to End-to-End Continuous Service LifeCycle Management, announced today that it has been named a Leader in the IDC MarketScape: Worldwide B2B Price Optimization and Management Applications 2021 Vendor Assessment (doc # US46742021, September 2021).
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“Syncron combines its deep knowledge of the global aftermarket industries, with robust solution capabilities, and expert services to substantively increase the efficiency and profitability of an OEM’s aftermarket businesses”
The IDC MarketScape vendor assessment model is an important competitive evaluation and scoring of the SaaS-based business-to-business price optimization and management solution suppliers available in the global market. According to the IDC MarketScape the nine vendors covered in the IDC MarketScape represent the front-runners and the vendors most representative of any given B2B PO&M application buyer’s selection short list. IDC’s research methodology uses a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear, customer influenced framework, in which the product and service offerings, capabilities, and strategies, and current and future market success factors can be meaningfully compared.
The IDC MarketScape report’s profile stated, “After a thorough evaluation of Syncron’s offerings and capabilities, IDC has positioned the company in the Leaders category within this 2021 IDC MarketScape for B2B price optimization and management applications.” The report also states that “Syncron has greatly expanded its vision to be the end-to-end service management provider. This is an integrated suite of solutions to optimize inventory, price, and uptime for aftermarket parts and service for B2B or retail-focused companies. This enables Syncron to optimize both price and cost.”
The research positioned Syncron as a leader based on the flexible capabilities and intuitive functionality of Syncron Price, and the company’s deep understanding of the aftermarket industry globally.
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The report states that companies should consider Syncron when they’re in the aftermarket service industry and need an end-to-end service management solution with integrated pricing. The IDC MarketScape vendor assessment also recognized three of Syncron’s strengths:
Deep understanding of aftermarket service management: Syncron Price benefits from Syncron Inventory and the company’s deep institutional knowledge of the cost side of the equation to manage profit when pricing inventory that is deployed around the world, including location (delivery time, taxes, tariffs), age, and scarcity/replacement value. Customers highly appreciated this experience to set up personalized pricing for specialty parts and kits.
Ease of Use: Customers highly rated Syncron for how easy the product was to learn and use. They liked that it had initiative workflows that were “one to two clicks away from done.”
Pricing Agility: Syncron makes it easy to segment and manage huge numbers of parts. Customers liked the ML-driven segmentation workflow that made segmentation easy to implement and gave the user the best choices of which segment the product should be placed in. One customer was managing 300,000 parts with one person while being able to reprice each on a far more regular basis with greater profit.
“Syncron combines its deep knowledge of the global aftermarket industries, with robust solution capabilities, and expert services to substantively increase the efficiency and profitability of an OEM’s aftermarket businesses,” says Mark Thomason, Research Director, IDC. “Syncron Price enables manufacturers, dealers, and suppliers to automate and optimize dynamic pricing capabilities, quickly and globally. By leveraging artificial intelligence and machine learning, Syncron Price can segment highly complex product lists and identify otherwise unseen revenue uplift and margin opportunities.”
“At Syncron, we’re committed to empower the world’s leading manufacturers and distributors to drive profitable business and competitive advantage by providing intelligent and connected service experience solutions. We are deeply honored the IDC MarketScape named Syncron a Leader for the Price Optimization and Management category. This acknowledgement follows similar IDC MarketScape recognitions of Syncron and its newly acquired company, Mize, in the areas of Field Service Management (FSM)1, Service Parts Management (SPM), and Warranty Contract Management (WCM)2,” said Dr. Friedrich Neumeyer, CEO of Syncron. “Being recognized as a leader in multiple strategic categories by the IDC MarketScape is validation that our significant innovation investments in AI and ML innovation, user experience, architectural extensibility, scalability, security, and platform are quickly paying dividends. It also echoes Syncron’s nonstop passion and commitment and ability to execute our customers’ success.”
