UST, a digital transformation solutions company, has joined hands with Quicklizard, a price optimization platform, to offer AI-guided, data-driven pricing solutions on a global scale to renowned brands and retailers. The incorporation of Quicklizard’s platform into UST’s suite of solutions enhances clients’ retail operations, enhances customer experiences, and boosts profitability throughout their retail value chains by optimizing pricing strategies.
This collaboration leverages Quicklizard’s top-tier price optimization platform, integrated into UST’s comprehensive retail solutions, delivering cutting-edge technology solutions within a holistic, data-driven approach to large-scale pricing aimed at ensuring client success. The partnership aims to help clients maintain profitability while strengthening their competitive position in their respective markets by offering strategic guidance, precise market insights, and meticulous implementation processes.
Even in today’s advanced retail landscape, pricing managers often find themselves manually analyzing a multitude of data sources to inform their pricing decisions. This restricts their ability to optimize prices for only a fraction (5%-15%) of their product catalog. However, Quicklizard’s AI-powered dynamic pricing platform empowers pricing managers to make optimal decisions for 100% of their product offerings.
Harnessing the potential of machine learning and artificial intelligence, Quicklizard and UST have developed an innovative platform that comprehensively addresses all aspects of pricing for retailers, enhancing efficiency and accelerating digital transformation. Employing an omni-channel approach, Quicklizard’s platform enables retailers to craft tailored pricing strategies for a wide range of business models. Additionally, the platform boasts a robust pricing engine with predefined rules and conditions, automation and management tools, AI capabilities, analytics, and an open interface that enables clients to devise intricate pricing strategies without the need for additional tool integration. This stands in contrast to conventional price monitoring tools, primarily focused on tracking competitors’ prices and making pricing decisions based solely on this data, whereas the joint solution allows for real-time price adjustments based on various critical factors.
These advanced solutions are further complemented and enhanced by UST’s AI-powered ‘VERA’ engine, developed by UST Evolve, which facilitates the mapping and matching of private-label products across various categories. UST Evolve is a global digital business transformation group specializing in solving complex challenges through pragmatic approaches that yield impactful results.
Through this partnership, UST and Quicklizard are well-positioned to provide consulting services and comprehensive support to their joint clients, encompassing dynamic pricing solutions, project management, delivery management, and business analysis.
“By integrating our advanced platform as part of a comprehensive UST solution portfolio, we are able to offer the coordination, discipline, market intelligence, and rigor needed to maintain profitability and a competitive edge,” said Pini Mandel, Co-Founder and CEO, Quicklizard.
“The Quicklizard team and solution are a great fit for the UST culture, our emphasis on client-intimacy and our retail solutions portfolio. They are ideal partners in our quest to assist clients seeking to improve operations, experiences, and profitability across the retail value chain by specifically optimizing their pricing capability,” said John Taylor, UK Retail Lead, UST.