Pricing and sales guidance software maker Zilliant has unveiled Next-Generation Price IQ, a new price optimization application.
“Inflation has become the new business reality, exacerbated by supply chain turmoil, increased competition, and dramatic swings in both demand and inventory availability,” the company said in a press release Tuesday (April 19). “As a result, B2B companies need a faster, more powerful approach to pricing that maintains market alignment while generating prices that are easily explainable and defensible.”
According to Zilliant, Next-Generation Price IQ offers a major improvement in artificial intelligence (AI)-based optimization speeds, letting businesses quickly respond to changing business dynamics and market changes while providing better price transparency to sales teams.
“Leading the market in price optimization for two decades has revealed one critical truth: If sales reps don’t understand how a price is generated, they are unlikely to use it,” said Zilliant President and CEO Greg Peters.
The new Price IQ tool, he added, offers “a way to keep prices competitive amid near-constant change while also providing a pragmatic means to leverage AI with a crystal-clear view into how prices were derived.”
Zilliant said customers have reported a tenfold increase in return on investment in under a year with using its price optimization solution. The Next-Generation Price IQ can be up and running in 90 days and “lowers overall cost by supporting multiple pricing models and scenario templates, enabling simultaneous optimization of multiple lines of business within the same instance.”
See also: Zilliant Upgrades B2B Commerce Software
This launch follows last year’s rollout of a series of upgrades to Zilliant’s AI-based price management, price optimization and sales offerings, including innovations built around the original Price IQ.
Peters said at the time that the company’s completely cloud-native Software-as-a-Service (SaaS) system has a “track record of success” in helping clients implement business strategies and harnessing their data in a smarter fashion.
“Rapid innovation to solve the breadth of pricing and commercial challenges our customers face is foundational to Zilliant,” Peters said.
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