Pricient is Internet's Elastic Pricing engine.

Until now, only big tech companies like Uber, Lyft, Amazon, Airbnb, etc. and large industries like Airlines, Hotels, and others have had the technology and opportunity to build frequent pricing updates for their products.

Our cloud based engine democratizes that power and allows anyone to price their products or services smartly via a simple one-click integration.

Elastic pricing is a pricing strategy to vary prices continuously based on the current demand.

Think of it as a combination of happy hours and early bird discounts when prices are lowered to increase demand, and premium pricing where prices are raised when demand for services is higher than usual but supply is limited.

The Pricient Elastic Pricing engine continuously varies prices to maximize demand and sales volume. This means the prices of items can both increase and decrease. For example, if you are the owner of a cafe and usually sell coffee for $5, the engine could change it to different prices like $4.30 or $6.75 depending on current sales, busy times in the week, weather, and many other factors.

This is a common misconception about Elastic Pricing. Pricient's goal is to maximize revenue while maintaining customer and it optimizes prices based on demand, often by lowering prices to increase sales volume.

One common mistake is setting prices too high. This can alienate customers and damage brand reputation.

Another mistake is failing to monitor and adjust the strategy based on real-time data and constantly changing market conditions.

Pricient helps avoid these pitfalls by providing intelligent recommendations and real-time analytics.

Pricient is built using similar ideas as used by big companies like Uber, Lyft, Instacart, Amazon and others.

It uses sophisticated Machine Learning Algorithms to analyze a wide range of data points like historical sales data, competitor pricing for the same or similar products, time of day, day of the week, holidays, cost of producing the product or service, willingess of the customers to pay a certain price, and even weather patterns.

The algorithm considers all these factors to predict optimal pricing for each product or service at any given moment.

It's like having a dedicated pricing expert working 24-7 to predict demand and price it appropriately ahead of time.

The increase in profit comes from the optimization of pricing.

By dynamically adjusting prices based on real-time demand, Pricient ensures that businesses capture the maximum possible revenue from each transaction.

In many cases, it strategically lowers prices to attract more customers during slower periods or clear inventory, while in others, it slightly increases prices during peak demand.

The algorithm constantly learns and refines its pricing strategies to maximize overall profitability.

Pricient is pre-designed to handle seasonal fluctuations. It has learned patterns from historical data for businesses in many different sectors and adjusts pricing to ensure that each business capitalizes on peak seasons while still maintaining a consistent pricing strategy throughout the year.

Pricient's algorithm is designed to be adaptable. When it can't predict or account for an unforeseen event, it quickly learns and adjusts to changing market conditions allowing businesses to respond effectively to unexpected disruptions and minimizing their negative impact.

Pricient is designed to be versatile and is ideally built for businesses with fluctuating demand.

Currently, it works best for any business with a point-of-sale or online store.

Some common examples are using it to calculate prices of food items in a restaurant menu, of any services rendered like haircuts, massages, entries for bowling alleys, or clubs, grocery or general items in a store, online retail and ecommerce stores, and many others where prices are static.

While it can help improve sales through discounting, even businesses with relatively stable demand can see improvements by optimizing their pricing to capture more revenue during peak periods.

Pricient is optimized for businesses with recurring transactions where prices can be set for individual sales.

Subscription or membership models that involve recurring payments have different pricing dynamics and require a different approach.

We are exploring expanding our capabilities to include subscription-based businesses in the future.

That said, many busineses start out with a subscription revenue model due to it's simplicity, and after they hit scale, move on to customer-based, usage-based, or some other form of dynamic pricing and Pricient can help you evolve your revenue model.

Pricient monitors some key metrics for businesses, namely revenue growth, profit margins, and average order value.

By tracking them, businesses can gain a clear understanding of the impact of their elastic pricing strategy and make data-driven adjustments.

Pricient is built as a collaborative engine, combining the power of AI with human expertise.

It provides a lot of control to the business owners to set minimum and maximum price guardrails per offering, time of day and frequency of price updates, including or excluding offerings to be priced in a batch with one click, and many others.

Within those parameters, Pricient can be used in two modes - either as a passive advisor making price adjustment recommendations to the business owners, or as an active autopilot making those adjustments itself.

Pricient is available for a Free Trial for a limited time. Contact us for more details.

Even with limited data, Pricient can still provide valuable insights.

The Engine is designed to adapt to new situations and learn quickly. We also leverage data from our other similar business customers and industry benchmarks to supplement any gaps in a new customer's historical data.

Pricient is already integrated with the most popular POS systems like Clover, Toast, Square, and Shopify, with online providers like Doordash and Uber, and with eCommerce storefronts like Shopify, Instagram, and TikTok, with new integrations actively being built every day.

If you use any of the currently supported platforms, you will be able to switch to Pricient seamlessly.

We will offer comprehensive support and guidance throughout the transition process, and our team will work with you to ensure a smooth migration of your data and minimize any disruption to your business operations.

If you have historical sales data, we would request you to provide it to the engine using a easy process to help it learn your business's specific patterns and increse the impact of future pricing predictions quickly.

We're constantly working on improving our algorithm and adding new features. This includes expanding our integration capabilities, adding support for more data sources, and developing more advanced analytics tools to provide businesses with even deeper insights into their pricing strategies.

We advicing starting with a trial and see how elastic pricing can benefit your business firsthand, and don't be afraid to experiment and adjust your strategy as needed to find the right balance between maximizing revenue and maintaining customer satisfaction.

Remember, even big companies like Uber, Amazon, and Google were smaller in size some day just like you.