Spectrum iPROM - Integrated Pricing & Promotions Management (PPM)
Overview
A highly flexible business rule based environment, Spectrum iPROM handles retail pricing and promotions across multiple channels. Spectrum iPROM is built to encourage distributed creativity while safeguarding a retail chain's need of governance and centralized over-sight, thus leading to reduced mind to market time. Spectrum iPROM provides a plethora of configurable options for Discounts, Deals, Mix & Match and Power Pricing offers and schemes.
Why do Retailers need iPROM?
- Centralized Pricing, promotions and offers lack quick and effective execution at the store and franchisee point of sale terminals
- Ensuring Price Optimization software delivers benefits through proper execution
- Minimising pricing discrepancies that arise after fresh promotions are executed during critical steps like price tagging
- Ensuring proper execution of trade promotions at store level to gain satisfactory returns
- Lack of visibility into in-store execution and sell-through related to the promotion
- New promotion ideas take a long time to trickle down to the consumer from the corporate office due to the lack of flexibility of Promotion Execution engines
- Poor promotion change control, e.g., to communicate cancellations or changes to promotion parameters or promotion timings take time to reach franchisees or multiple stores
iPROM Feature & Benefits
- Prices executed consistently and in a timely manner across multiple channels like brick and mortar stores, web-stores and mobiles through near-real-time synchronization capability
- Serves as the means of delivering optimized prices and promotions to multiple channels, thus increasing the ROI on optimization solutions
- Faster mind-to-market for new promotional ideas through an in-built rules engine increasing flexibility and supporting a growth strategy
- Price-inclusive and exclusive taxation rules for handling varied tax stipulations
- Tax definitions configurable for different purchase, sale, supplier, location and product types catering to different tax structures
- Manages conflicts for pre-defined promotions at the time of creation as well as at store level to ensure that relevant promotions are delivered as advertised to consumers, quickly and efficiently
- Ability to test pre-configured promotions through simulations to ensure that the promotions execute just like they were conceptualized to behave
- Time-based activation and deactivation of promotions with audited override capabilities driving customer satisfaction
- Reusability of successful past promotions