Quote Pricing
Rapid quotes that increase win rates and maximize profitability through dynamic pricing optimization.
Is poor data quality costing you money?
50% of UK businesses claimed that poor data quality and capture is hampering the ability to keep on top of market fluctuations.
Let us introduce you to the Quote Pricing application from Peak – rapid quotes that increase win rates and maximize profitability through dynamic pricing optimization.
UK organisations will lose out on £451,000 every year in lost productivity, as a result of supply chain disruption.
Forrester
Global market reserach company
Responding to quote requests takes time – with 34% of businesses still relying on manual processes to manage price fluctuations.
Prospects want quick quotes, custom-fitted to their needs. But responding to requests for quotation (RFQ), can be messy, manual and time-consuming. That means you risk losing the business to competitors. Often you’ve got quotas to hit, so you discount price to close the deal. You need to give quick quotes at a price that wins new business, but protects profits.
Under the hood
Quote Pricing is built on Peak. It uses AI models to estimate sale conversion probability on a range of prices to recommend an opening and target price for each quote, helping you maximize profit margin and increase conversion rates.
- Combine data
- Add intelligence
- Make decisions
Ingest, transform and organize large volumes of data from across your company.
- Historic quote price data
- Historic sales data
- Product metadata
- Customer metadata
- List price data
Apply predictive and price elasticity models to the data.
Apply predictive models to estimate your offer’s optimal price. Price elasticity models predict sales conversion probability and margin for a range of prices around the expected selling price. The recommendations of these models are used to maximize either revenue, margin, or a combination of both, depending on your business strategy.
View opening price and target price recommendations for each item on the quote.
- Return opening price and target price for each item on the quote in five seconds or less with an API call containing the quote data
- Explore historic price elasticity of demand for products in a dashboard, which can be used to inform list price change
Automate and optimize with Quote Pricing
The UK has potentially the most to gain from intelligent pricing. 34% of UK businesses approach pricing on an ad-hoc, case-by-case and manual basis – the highest across all markets surveyed
This is where Peak comes in. Quote Pricing is an application that uses AI models to ingest data across your business to automate the RFQ process and deliver optimized pricing that lands deals, without leaving money on the table.
Win with superfast, optimal pricing
Speed up the sales process, increase conversion rates and maximize profit margins with automated quote pricing.
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Increase win rates
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Maximize revenue and profit margins
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Reduce excessive discounting
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Gain the competitive edge
How to get started with Decision Intelligence
In this ‘How to get started with Decision Intelligence’ guide, we outline the key steps your business needs to take in order to introduce AI into your decision making quickly and effectively, with a focus on delivering real results for your business.
Success stories
Powering a sustainable, self-thinking manufacturing supply chain with Decision Intelligence
Manufacturing: framing AI in the lens of Lean, not Industry 4.0
