Conventional pricing methods in today’s modern world don’t cut it out for retailers; changing times requires innovation and adaptation. With the latest advancements in recent years both on their technology stack and in consumer behavior, retailers are required to adopt, execute and monitor more complex pricing strategies. Leveraging the power of Machine Learning & Artificial Intelligence, Quicklizard has developed an all-in-one platform covering every aspect of B2C Pricing to help retailers and Brands achieve their business goals.
Pini Mandel, the Co–Founder & CEO of Quicklizard, is a serial entrepreneur leading a rapidly growing team of employees and partners worldwide helping retailer transform their pricing organizations to ensure the longevity and success of their business. Before establishing Quicklizard, Pini was CEO of 3Base (acquired in 2012).
Insights Success recognizes the higher feats Quicklizard has achieved and cherishes its progress as Company of the Year in our edition Top 10 Retail Tech Solution Providers.
Established as a competitive data provider in 2010, Quicklizard officially shifted its core business to become a leading B2C pricing platform in 2018. Since the company has continued its development with unique offerings, helping retailers and various brands achieve pricing excellence. Its agile approach allows organizations to scale, adapt, and deploy pricing strategies that fit their changing business needs, from simple automation and rules-based to advanced AI machine learning and data science models. Quicklizard is a publicly-traded company on the TLV Stock Exchange (QLRD) with over 110 customers in 27 countries and over 500M monthly pricing recommendation issued by the platform.
Adapting to Modern-day Demands
Pini asserts that the growing complexity of the business requires companies to adopt a more scientific approach to pricing that currently lacks the automation, coordination, discipline, market intelligence, and rigor needed to maintain profitability and a competitive edge.
- The business environment is complex and ever-changing.
- When making pricing decisions, mass amounts of the market, consumer, and product data must be gleaned.
- Pricing needs to be continually reviewed and updated.
- Pricing strategies must be constantly monitored to measure the impact on business goals.
Traditional methods cannot adequately depict the complexities of today’s competitive market. The need to react in real-time and factor in multiple data sources and economic variables, such as regions, currencies, regulatory requirements and inflation, poses a real challenge to implementing and maintaining effective pricing strategies.
Quicklizard enables retailers to automate their pricing strategies and move from manual pricing to a smart, fully automated digital pricing infrastructure. Its pricing optimization and enrichment modules suite advanced pricing excellence at scale, based on individualized business goals.
The engrained core of Quicklizard:
- A pricing platform that enables full automation throughout the product lifecycle, powered by a rule-based pricing engine and a complete set of AI pricing modules and featuring monitoring and management capabilities.
- Extensive and field-proven retail pricing experience and expertise.
- A trusted partnership for continually driving retailers pricing journey to success.
The Best of the Best
According to Pini, there are a few factors that distinguish Quicklizard from its competition:
Time and Ease of Deployment – Being a SaaS platform, Quicklizard offers its customers a pre-built yet highly customizable platform based on thousands of hours and extensive experience working with hundreds of retailers and brands across the globe and in different verticals. It offers its customers off-the-shelf, customizable components and measures that allow the company to offer the perfect fit based on a retailer’s level of maturity and need while also building an infrastructure for scale.
Agility and Openness – Adopting an agile approach in development, customization, and deployment, customers can experience fast results and continuously evaluate and adjust in real-time. The open platform allows customers to use their data science teams (or Quicklizards professional services team) to build custom proprietary pricing models.
Partnership – Quicklizard sees its customers journey to pricing excellence as a partnership, supporting customers with a dedicated customer success manager and pricing experts every step of the way. From pricing strategies to KPI evaluation, the team offers guidance and best practices.
The Pillars of Quicklizard
Pini expresses, “Excellence guides us in everything we do. We aim high and deliver on the details, taking pride in our work.”
Diversity is part of Quicklizard’s DNA – It embraces diverse backgrounds, experiences, opinions, and views to grow and build a sustainable business.
Innovation is in everything the company does, challenging assumptions, embracing change, integrating ingenuity into its projects and approaches, constantly striving to do better and reach beyond.
Quicklizard Develops Partnerships through listening, transparency, and empowerment, building trust that transforms ordinary relationships into powerful collaborations and alliances.
Dealing with Unprecedented Times
The COVID-19 pandemic has significantly impacted retail and will continue going into 2022. Pini says, “While the market remains dynamic and uncertain, retailers must look towards new strategies and technology to stay competitive. Smart retailers act accordingly by considering all scenarios and planning for the potential long-term social, economic, and health consequences of the virus.”
The Post-Pandemic Approach
Pini asserts that retailers must now integrate digital and physical experiences to meet customers where they are
“Retailers who haven’t yet polished their omnichannel efforts to make this buyer’s trip easier risk losing that shopper to another retailer. Retailers are expected to provide customers with a personalized shopping experience from beginning to end. Retailers who use the correct omnichannel approach to meet these expectations will be well-positioned for long-term success,” notes Pini.
Helping Hand to the Community
Quicklizard and its team are engaged in various community outreach programs, from delivering food baskets to tutoring at-risk youth. It sees itself as an integral part of the community it comes from and the communities in which its offices are located, committed to compassion, diversity, and inclusion principles and ethics.
Quicklizard aspires to contribute to economic efficiency by helping sellers achieve pricing that best reflects the contribution to their business
Quicklizard was built to become the leading B2C and D2C pricing and promotion engine. In the next 12-18 months, it will focus on penetrating new verticals and geographies and expanding its customer base. In addition to its mission, it hopes to continue taking customers further on their journey to pricing excellence through education and by building agile and effective pricing departments.
Pini states that pricing platforms will become a standard in the retail technology stack as the market matures.
“These solutions will inevitably evolve to include adjacent processes, such as demand forecasting and promo planning, providing an end-to-end holistic pricing process,” concludes Pini.