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Step 0. Introduction: Discount recommendation algorithm

All you need to know to start with a discount recommendation module

Discount recommendation algorithm is a key tool for sales companies to consistently manage discounts across their portfolio of customers and it will allow your company to bring structure, consistency and an industry-standard approach in determining suitable discount for specific customer based on multiple factors.
Key takeaways:
  1. Discount recommendation is an algorithm taking multiple inputs from the ERP system (for example: number of products sold to specific customer, trends, size of customer etc).
  2. Pre-trained artificial intelligence algorithm is applied to recommend discounts which are recommended
  3. Module will return 3 recommended discounts (recommended, maximum, management).
See more:
  • Trainer: This module has been pre-trained by iERP and the model is distributed as part of the iERP studio
  • Forecaster: Algorithm inputs
  • Forecaster: Algorithm outputs
  • Additional statistics provided by algorithm
Available integrations:
  • CSV integration: possible to use any ERP system
  • Epicor integration: fully developed integration including Epicor export scenarios, Epicor import scenarios, Epicor user screens
Business Challenges
  • Provided discounts are not getting updated accordingly based on historical customer transactions
  • Large accounts are at risk by providing too high prices
  • Large discounts given to small accounts
  • Lack of control and consistency at discount management
  • Discount structure is not reflecting differences between customers, customer groups, products and other factors
  • Time-consuming for managers to develop, maintain and support discounting in an organisation
  • Lost revenue by providing discounts to customers who are going to buy the products anyway
Algorithm Benefits
  • Automated customer and product-specific discount optimisation engine
  • Complete user control over minimum margin is eliminating the risk of selling below the expected margin
  • Maximizing revenue by offering ideal discounts by automatically evaluating historical and new transactional data
  • Reduce costs and risk by deploying AI with self-learning capabilities with minimal human supervision
  • Complete data security with deployment on-premises
  • Seamless integration to ERP system where users will not recognise any difference during day-to-day operations
  • Users are having immediate access to historical purchase data at the moment of selling/quoting product to the customer
  • Short implementation time in days
Next Step 1. Discount recommendation: Create new or duplicate project
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