Welcome to our Support Center
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:
- 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).
- Pre-trained artificial intelligence algorithm is applied to recommend discounts which are recommended
- 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