Infor Releases New Solution Designed to Transform Price Management for Retailers
Infor Price Management (IPM) Enables More Scalable and Efficient Price Execution
NEW YORK – July 10, 2019 – Infor, a global leader in business cloud software specialized by industry, today announced the release and full implementation of its cloud-native price management solution at a leading national grocery retailer. Infor Price Management (IPM) is scalable, self-serviceable, and configurable, and serves as “one version of the truth” for price: evaluating prices, identifying conflicts and preventing leakage across applicable selling channels. It directly addresses the converged pricing model that has become prevalent for today’s multimarket retailers that need to maintain price across channels, banners and customers.
“A short while ago, price creation was agnostic, with multiple retailers from varying industries utilizing the same pricing models to create price. However, recent trends have shown retailers taking price ‘private’ and creating pricing expertise within the ‘four-walls’ of corporate offices,” said Corey Tollefson, general manager and senior vice president, Infor Retail. “Retailers have come to understand that there is uniqueness to the creation of price across regular, promotion and markdown activities – by vertical, and they cannot rely on agnostic optimization models to communicate value to customers anymore.”
Infor Price Management is designed to allow retailers to focus on the creation of proprietary pricing models, identifying relevant sources of market intelligence, and differentiating their position in the market through value-based pricing. Constructing, maintaining and scaling of the pricing delivery and execution platform can be facilitated by Infor, virtually eliminating this technology-heavy burden for retailers.
In addition, Infor Price Management is “price agnostic,” permitting retailers to bring together prices from disparate sources (optimization, rules, markdown, promotion, etc.) into a single execution platform for transparency across the organization – with the goal of eliminating conflicts and reducing price leakage.
Infor can enable more scalable and efficient price execution, which can improve price transparency across the organization. With the ability to configure roles, the platform can transform to deliver critical decision support insights. Flexibility to import pricing, as well as execute in real time or as scheduled, means that retailers can react to competitive threats on a 24/7 basis. As Infor Price Management is native to the cloud, concerns about speed and growth can be mitigated, and retailers can focus on creating pricing that communicates value — and wins in the market.
“The retail environment can be chaotic. There has been more change in the past four years than in the prior 40,” continued Tollefson. “With Infor, retailers can deploy a modern pricing platform designed to enable 21st century retailing that is built for a global network, with a beautiful user experience that is cloud native and highly scalable.”
For more information, please visit http://www.infor.com/industries/retail/.
Infor is a global leader in business cloud software specialized by industry. With 17,300 employees and over 68,000 customers in more than 170 countries, Infor software is designed for progress. To learn more, please visit www.infor.com.
Infor customers include:
- The top 20 aerospace companies
- 9 of the top 10 high tech companies
- 14 of the 25 largest U.S. healthcare delivery networks
- 19 of the 20 largest U.S. cities
- 18 of the top 20 automotive suppliers
- 14 of the top 20 industrial distributors
- 13 of the top 20 global retailers
- 4 of the top 5 brewers
- 17 of the top 20 global banks
- 9 of the 10 largest global hotel brands
- 7 of the top 10 global luxury brands
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This announcement reflects the direction Infor may take with regard to the specific product(s) described herein, all of which is subject to change by Infor in its sole discretion, with or without notice to you. This announcement is not a commitment to you in any way and you should not rely on this document or any of its content in making any decision. Infor is not committing to develop or deliver any specified enhancement, upgrade, product or functionality, even if such is described in this announcement and even if such description is accompanied by words such as “anticipate,” “believe,” “expect,” “intend,” “may,” “plan,” “project,” “predict,” “should,” “will,” and/or similar expressions. Many factors can affect Infor’s product development plans and the nature, content and timing of future product releases, all of which remain in the sole discretion of Infor. This announcement, in whole or in part, may not be incorporated into any contractual agreement with Infor or its subsidiaries or affiliates. Infor expressly disclaims any liability with respect to this announcement.
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