Syntax, Competera, and SAP: A Joint Solution for Profitable Retail Pricing

Since the 1990s, retailers across industries have preferred SAP 's comprehensive solutions for ERP management. Nowadays, SAP-based retailers are eager to gain more advanced pricing capabilities and easier UI/UX to help them overcome the limitations of their in-house solutions. At some point, integrating SAP environments with advanced AI pricing platforms can also become a challenge. 

Our Head of Partnerships Oksana Chypchyruk 齐若薇 explores a joint solution that combines SAP 's robust retail infrastructure with Competera Pricing Platform 's AI-powered pricing intelligence and Syntax 's implementation expertise.

The Challenges of Retail Pricing

Retailers face numerous challenges when it comes to pricing optimization, including:

• Inflationary pressures: Rising costs of goods and services can impact profit margins.  

• Supply chain disruptions: Uncertainty and volatility in supply chains can affect pricing stability.  

• Changing consumer behavior: Shifting preferences and purchasing habits require agile pricing strategies.  

• Data management: Retailers need to collect and analyze large amounts of data for informed pricing decisions.  

The Joint Solution: SAP, Syntax, and Competera

The joint solution offered by Syntax, Competera, and SAP addresses these challenges by providing retailers with a comprehensive pricing optimization platform.

• SAP: Provides the foundation with its comprehensive suite of retail enterprise solutions.  

• Competera: Delivers AI-powered pricing intelligence, enabling dynamic pricing strategies that optimize for profit and customer satisfaction.  

• Syntax: Expert implementation partners who seamlessly integrate SAP and Competera solutions, ensuring a smooth transition and maximized ROI.  

Key Benefits of the Joint Solution

• Predictive pricing: Create a more effective category management strategy.  

• Increased revenue and margins: Leverage AI to make smart price adjustments.  

• Optimized and scalable pricing: Design a customer-centric and omnichannel pricing experience.  

• Improved planning and inventory orchestration: Connect merchandising, marketing, and supply chain processes for better alignment.

Key Functionalities

• Predictive pricing: Simulate retail prices based on proactive tactics and predefined rules, including competitor pricing, rounding, price families, and planned margins.  

• Various pricing levels: Support reference organizations, banners, and competitiveness.  

• User access controls: Define user access levels to control approvals of price bands and relevant categories.  

• Interactive user interface: Support maturity and scalability.  

• Reporting: Manage a predictive price management approach.  

Technical Integration

The solution integrates Competera's pricing tool into the SAP pricing application, facilitating data exchange to ensure accurate and dynamic pricing information.

Here is how it works: Competera's pricing data is consumed via the Pricing Technique in S/4, ensuring a smooth data exchange. Once accurate and dynamic pricing information is in place, retailers' pricing strategies are ready for optimization, generating enhanced business outcomes.

The joint solution offers an optimized and scalable pricing design to support customer-centricity and omnichannel experience. With smart AI price adjustments, you can sustainably increase revenue and margins. Last but not least, you will enjoy more effective category management reinforced by predictive pricing.

On October 29, speakers from SAP, Competera, and Syntax came together to showcase this proven solution. Watch the recording to learn how the new connector enables smarter pricing, faster implementation, and more effective management within the SAP environment. We’ve also answered the most popular questions from participants across the retail industry to give a clear view.

Conclusion

The joint solution from Syntax, Competera, and SAP empowers retailers to optimize their pricing strategies and overcome the challenges of today's dynamic market. By combining SAP's robust retail infrastructure with Competera's AI-powered pricing intelligence and Syntax's implementation expertise, retailers can achieve significant improvements in revenue, margins, and customer satisfaction