Technology and business solutions company Fusionworks and distributor B. Fernández & Hnos. recently presented the success story of Price Point, a tool developed to create, measure and monitor the price and discount strategy distribution companies use at the points of sale.
The software is the result of a collaboration between B. Fernández & Hnos. and Fusionworks, which was implemented in 2016. Price Point enables users to achieve orderly planning, execution and optimization of product promotions, as well as the measurement of performance, price fixing and investment scenarios in marketing, automation of the approval of cooperative contracts and the integration to the billing system.
In addition, it automatically calculates the return on investment (ROI) of the offer after its implement, key to avoid revenue losses.
Lara Rodríguez, marketing director of B. Fernández — which has with more than 5,500 clients throughout the island — commissioned Fusionworks to create a tool that would optimize their promotions and reduce the economic losses caused by unauthorized discounts.
“The Price Point tool has helped us promote a favorable cultural change where the conversations are strategic and based on the analysis of the return on investment that the tool facilitates us to carry out,” she said. “We have visibility and control of the entire process when planning, analyzing, measuring and paying for promotions.”
Price Point helps improve the sales, marketing and finance departments of companies, achieving greater efficiency and profits, she added.
“Our mission is to improve the competitiveness of Puerto Rican companies by optimizing processes and the information they use to make decisions,” said Jorge Mejía, director of Fusionworks.
“This is exactly what we did with B. Fernández. Their promotions management process was optimized and the information they now have to make decisions has resulted in a significant increase in their profits,” he said.