TOKYO, April 20, 2015 /PRNewswire/ -- Syncron International, an aftermarket optimization company, announced today that Kobelco Construction Machinery Co., Ltd., a manufacturer of construction machinery, is now using its cloud-based global price management software.
The Syncron solution selected by the Parts Business Promotion Department of Kobelco Construction Machinery automates and optimizes prices to improve revenue and margin for spare parts. The company is currently leveraging its Enterprise Resource Planning (ERP) system to set the price for parts. The new pricing solution runs out of the Syncron data center, which is located in Stockholm, Sweden. Kobelco Construction Machinery will access the Software-as-a-Service (SaaS) through the internet.
Kobelco Construction Machinery is hoping to improve the end users perception of prices by tying the price to the characteristics of the product. Syncron helps companies, like Kobelco Construction Machinery, classify parts based on the properties of that part. For example, hoses are classified by length, couplings and materials used.
"We selected Syncron because the system eliminates confusion for the end user by tying price to product features. This functionality will improve ability to price parts correctly and logically," said Akinori Iwamatsu, Director of Parts Business Promotion Department. "We aim to improve customer satisfaction and improve efficiency when pricing our parts."
Kobelco Construction Machinery is sending data, including item numbers and characteristics, to Syncron. The Syncron implementation team classify the items based on the attributes of the parts. Then, a target price and current price recommendations will be generated by the system.
Kobelco Construction Machinery will uses this information as a foundation to adjust the company's price lists. The Syncron software will then help Kobelco Construction Machinery slowly adapt to the new prices without disrupting the current sales volume. Kobelco Construction Machinery expects to begin rolling out the new prices by the end of May 2015.
"Syncron will provide a solution for setting the price and managing price adjustments moving forward. Our goals are to improve profitability for our customers by driving efficiency in the area of price management, as well as improve revenue and profit," said Katsuto Ochiai, Managing Director, Syncron Japan. "Kobelco Construction Machinery will see an immediate improvement in price management. The application will allow them to analyze the results of current pricing strategies and simulate the impact of new changes before implementing the price."
SOURCE Syncron International