SunTec Business Solutions, a leading provider of Relationship-based Pricing and centralized billing solutions today launched a revolutionary product TBMS-F Price Modeler - an advanced price modeling engine. The product which is an addition to the company’s flagship TBMS-F family can also be used as a standalone solution integrated with other pricing platforms to provide desired results.
TBMS-F Price Modeler helps banks to setup the right price structure for a product, package, customer segment, location or a customer. Acting as a key business planning tool, it enables banks to optimize the pricing policies, both from a historic as well as from market demand, cost drivers and revenue optimization perspective.
“It has been on our product road map, also our customers have been asking for a strategic tool like this and we are delighted to have delivered what they wanted”, ”, said Nanda Kumar, CEO, SunTec. “In this era of intense competition and product commoditization, pricing is becoming a key differentiator for banks to win customer relationships and market share. Incorrect charging leads to customer attrition and wrong pricing policies lead to revenue erosion and less margins. This tool will bridge the gap between the customer and the Relationship Manager by helping him make informed pricing decisions”.
TBMS-F Price Modeler will simulate the effects of price plan changes on revenue, margins and product movement, thus helping banks arrive at the right strategy to meet competition, internal sales objectives and customer expectations. It also enables differential pricing to give financial rewards to customers like loyalty bonus reflecting the depth and breadth of customer’s relationship with the bank.
“This year we have expanded our presence in the US and Singapore with opening of new offices and support centers. We have also opened a new office in Dubai last month. Our product enhancements are in line with our ambitious product roadmap and it is a given that we are looking at further enhancing TBMS-F Modeler. We will shortly be coming up with ‘Price Modeler on a laptop’, helping account managers make pricing decisions on the fly”, added Mr. Kumar.