Syncron announced that Norgren, part of IMI plc, a global provider in designing and manufacturing motion and fluid control technologies, has selected Syncron Price to automate and streamline aftermarket parts pricing operations, elevate the customer experience, and improve efficiency and profitability.

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, the company says.

Syncron Price also 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, according to Syncron.

“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.” 

“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.”