Norgren Selects Syncron for Pricing Intelligence Driven by AI/ML for Greater Profitability

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A global leader in motion and fluid control technologies implements Syncron Price to automate and optimize dynamic pricing.

CHICAGO, March 7, 2023 /PRNewswire/ -- Syncron today announced that Norgren, part of IMI plc, a global leader in designing and manufacturing motion and fluid control technologies, has selected Syncron Price to automate and streamline pricing operations, elevate the customer experience and improve efficiency and profitability.

"We needed an automated tool to maximize visibility, increase efficiency and create consistency across the entire work product range," said Gianluca Fogu, EMEA pricing manager, Norgren. "Since our business involves product configuration, we needed a streamlined solution for full visibility across our entire portfolio and increased operational efficiency."

Syncron Price is an intelligent parts pricing platform that transforms pricing strategies with a fit-for-purpose solution. Leveraging artificial intelligence (AI) and machine learning (ML), it identifies unseen pricing opportunities to maximize sales volumes, revenue and service profitability from aftermarket business.

Furthermore, Syncron Price analyzes historical and current pricing data to make intelligent pricing decisions and segment new parts as they get added to the supply chain. An intuitive, highly configurable solution with out-of-the-box functionality, Syncron Price offers tools to visualize parts pricing data with customizable dashboards and ad-hoc reports to quickly identify pricing opportunities for greater profitability across the entire supply chain.

"With sophisticated technology that guarantees price competitiveness, Syncron Price optimizes dynamic pricing on a global scale," said Anneliese Schulz, chief revenue officer, Syncron. "Syncron Price equips organizations like Norgren to respond proactively to fluctuating market conditions for a more streamlined approach."

To learn more about Syncron Price, visit https://www.syncron.com/price. 

About Syncron
Syncron helps manufacturers and distributors capitalize on the new service economy by optimizing aftermarket profitability, increasing customer loyalty and enabling the transition to servitization. Syncron aligns all aftermarket services with its Connected Service Experience (CSX) cloud platform, helping companies differentiate themselves through exceptional aftermarket experiences while driving significant revenue growth. The world's top brands trust Syncron, making it the largest privately-owned global leader in intelligent service lifecycle management SaaS solutions. For more, visit syncron.com.

About Norgren
A well-respected world leader in motion control and fluid technology, Norgren is ideally placed to unearth Breakthrough Engineering solutions and play an active role in important industry sectors that contribute to the quality and success of everyday life. Norgren offers insight, technical excellence and a collaborative approach, to help our customers forge a brighter future. Norgren's reputation rests on a world-class portfolio of high-performance products, comprising of Bimba, Buschjost, FAS, Herion, Kloehn and Maxseal; and an ability to deliver exceptional local service. Part of the UK-listed FTSE 250 engineering company IMI plc, Norgren has a sales and service network in 55 countries, technical centres in the USA, Germany, UK and China, and manufacturing facilities around the world. Further information is available at www.norgren.com.

About IMI plc
IMI plc, the specialist engineering company, designs, manufactures and services highly engineered products that control the precise movement of fluids. Its innovative technologies, built around valves and actuators, enable vital processes to operate safely, sustainably, cleanly, efficiently and cost effectively. IMI employs around 10,000 people, has manufacturing facilities in 18 countries and operates a global service network. The company is listed on the London Stock Exchange.  Further information is available at www.imiplc.com.

IMI, Norgren, Bimba, Buschjost, FAS, Herion, Kloehn and Maxseal are registered trademarks of IMI and Norgren companies.

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