QBurst > Case Studies > Intelligent Prescriptive Pricing

Intelligent Prescriptive Pricing

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 Intelligent Prescriptive Pricing - IoT ONE Case Study
Technology Category
  • Platform as a Service (PaaS) - Connectivity Platforms
Applicable Industries
  • Transportation
Applicable Functions
  • Business Operation
Services
  • Software Design & Engineering Services
The Challenge

The client faced challenges in analyzing variables that impact pricing and required an intelligent system that would predict the optimal price that aligns with business objectives. There was a need to improve efficiency in the existing RFP and pricing workflow.

  1. Delays in determining lane-level pricing and bid analysis for shipping contracts
  2. Analyzing large amounts of internal and external data from various sources was time-consuming
  3. Low bid win rate
The Customer

US-based fintech company

About The Customer

US-based fintech company that offers a cloud-based customer success platform for logistics service providers. Their proprietary solution helps logistics service providers streamline the RFP process, minimize scope creep (unnecessary delay), and build customer relationships at scale.

The Solution

The intelligent prescriptive pricing solution streamlines the RFP response and freight pricing process for third-party logistics providers. The solution serves as a collaborative platform for decision-makers to analyze bids and make informed decisions based on analytical insights. The solution offers intuitive dashboards for freight brokers and pricing analysts to view historic and future trends.

The solution comprises three modules:

  • Shipper file processing
  • Pricing advisory
  • Market intelligence
Operational Impact
  • [Data Management - Data Analysis]

    Highly accurate pricing forecasts with real-time insights

  • [Product Improvement - Customer Service]

    Automated assignment of lanes based on custom stakeholder criteria

Quantitative Benefit
  • 43% increase in overall bid win rate

     

  • 95% faster quoting by enabling standardized pricing across bids

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