SYMSON
About SYMSON
At SYMSON, we want to solve the biggest problem in most pricing processes: everyone is guessing at their best prices!
Pricing managers must find the optimal price all while accounting for changing market circumstances and customer behavior. CEOs want to grow their business based on a scalable, data-driven pricing process. Investors need to know which products grow quickly to allocate resources.
The SYMSON AI model can track and compute 52 different data points to recommend the optimal price for your products. The data points include competitor data, sales history, elasticity, and customer data. Our integration features allow you to collect and analyse your system data (sales history, product information, invoices) within the SYMSON platform.
Our partnership with Google, allows you to track key competitors' price adjustments using unique product codes and eCommerce platforms. This enables you to find the most accurate market position when it comes to pricing your most competitive products. SYMSON also has the functionality to help you understand the elasticity of your product. using AI and ML analysis tools. The price elasticity of a product indicates the extent to which demand changes when the price of that product is modified. Using this information, you can make more accurate price adjustments to significantly increase revenue and margin. SYMSON can recommend the optimal price for each product based on the time frame and customer behaviour.
SYMSON’s AI is not a blackbox, which means you can understand and modify the algorithm as needed! Within our Smart Pricing Insights section, you can see the basis of each pricing recommendation and understand how each price is computed. You can also override this recommendation with custom price or reassign the product to a different strategy, if the given price is not accurate. Intuitive and well-organized, our dashboards neatly present the market reaction to price changes in the past, enabling you to make better decisions for future strategies.
SYMSON’s Pricing Strategy Builder is a plug-and-play software tool which facilitates creating, automating and executing pricing strategies best suited for your business. SYMSON holds a strong connection to science and research, and we are keen to always stay up to date with the latest discoveries. We were founded to translate scientific knowledge into practical solutions that help organizations improve. As such, we aim to be at the forefront and constantly seek new strategies, models and ways to advance.
Key benefits of SYMSON
AI-driven, explainable recommendations to make optimal pricing decisions. Combination of innovative pricing strategies based on scientific algorithms. Flexible pricing rules to be in control of automation. A simple interface to understand & use AI-driven price recommendations. Ability to run simulations on possible future scenarios and predict expected outcomes. Data quality tools to assess and improve your data to be ready for smart AI. Ability to generate the best possible price for each customer in real-time. Competitor data for accurate market positioning.
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Reviews
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- Industry: Retail
- Company size: 51–200 Employees
- Used Daily for 6-12 months
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Review Source
Overall rating
- Ease of Use
- Customer Support
- Likelihood to recommend 10.0 /10
Purchase Controller
Reviewed on 2024/08/26
Symson offers an effective way of managing prices for products and categories that requires...
Symson offers an effective way of managing prices for products and categories that requires different strategies.
My overall experience is nothing but positive. The support from the Symson Team has made it easy to get started and also making it more efficient to manage prices.
Pros
It's easy to get started and the GUI it user friendly. It's not complicated to create price strategies or to assigning products or product categories to different strategies. Symson offers a great overview of pricing, margins and profitability.
Cons
In some cases when getting price updates the information could be better of what is triggering the update.
- Industry: Automotive
- Company size: 51–200 Employees
- Used Daily for 6-12 months
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 10.0 /10
A great balance between human expertise and AI functionality
Reviewed on 2023/05/02
I was concerned at first about AI and ML being involved in our pricing process. However, the great...
I was concerned at first about AI and ML being involved in our pricing process. However, the great part about SYMSON is that it allows for human intervention and modification where necessary.
Pros
The Pricing rules offer a lot of customizability in our pricing. I can also set up notifications about price changes or market fluctuations that could affect our pricing strategy.
Cons
There is a learning curve to understanding all the possible options and rules you can apply. You may not make use of the full functionality right away.
- Industry: Information Technology & Services
- Company size: 5,001–10,000 Employees
- Used Weekly for 1-5 months
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Review Source
Overall rating
- Ease of Use
- Customer Support
- Likelihood to recommend 8.0 /10
symson
Reviewed on 2023/02/26
Pros
One big advantage and the biggest functionality of SW is artificial intelligence. I'm a big fan of this process and all the algorithms and strategies the app includes for computation are unreal. Individual rules can be flexibly modified to control automation. The interface is user friendly and simple. Most of all, I liked the ability to run simulations and view the evolution of future situations that can be defined to predict possible outcomes. This can ensure the best possible price for customers over time. Of course there is competitor data to show exact market positioning. The solution is cloud-based, so there was no problem with deployment. It helps to understand more about the price elasticity of your products just because of AI and Machine learning algorithms.
Cons
Some rules may take some time to adjust and deploy, but they will get set up. If we insert already cleaned data, we can start using it from the first moment. We had to use the app support where their team helped us clean our data and we could work after the tear. As such, we were very happy with the app and it suited us in every way.
- Industry: Mechanical or Industrial Engineering
- Company size: 2–10 Employees
- Used Weekly for 1-5 months
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 10.0 /10
Streamlining our Price Management with SYMSON
Reviewed on 2023/03/15
We struggled with price positioning because our competitors were reacting faster to market...
We struggled with price positioning because our competitors were reacting faster to market volatility and our product portfolio was growing faster than ever. We were running against the limits of what we could do in terms of pricing with our current solution. However, with the implementation of SYMSON, we can now in principle expand infinitely further and our pricing process is very scalable. Thanks to the software we were able to automate the pricing process and even include a model for reacting to competition, so we could price our products more aggressively in the market.
Pros
The competitor tracking helped us visualise the pricing process of our competitors. By monitoring this data we were able to better adapt to the changing environment. The price updates also worked fast and responded to changes so that our prices stayed at our desired level.
Cons
Sometimes there are large updates that cause slowness in the platform, but that is usually brief.
- Industry: Consumer Electronics
- Company size: 2–10 Employees
- Used Weekly for 1-5 months
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 10.0 /10
A flexible and reliable pricing solution
Reviewed on 2022/12/12
A fully automated pricing process, the latest marker dynamics reflected in the recommended prices,...
A fully automated pricing process, the latest marker dynamics reflected in the recommended prices, works across all markets, with no human intervention necessary
Pros
The most significant advantage is the flexibility of the tool. Every pricing strategy is possible, it gives me reliable scraping of information and offers transparency over market trends and justifications for the recommended strategy.
Cons
No standardization across portals makes working in multiple portals somewhat complicated.
SYMSON FAQs
Below are some frequently asked questions for SYMSON.Q. What type of pricing plans does SYMSON offer?
SYMSON offers the following pricing plans:
- Starting from: €997.00/month
- Pricing model: Subscription
- Free Trial: Available
Our mission is to make machine learning & artificial intelligence affordable for every company.
Q. Who are the typical users of SYMSON?
SYMSON has the following typical customers:
11–50, 51–200, 201–500, 501–1,000, 1,001–5,000
Q. What languages does SYMSON support?
SYMSON supports the following languages:
Dutch, English
Q. Does SYMSON support mobile devices?
SYMSON supports the following devices:
Q. What other apps does SYMSON integrate with?
SYMSON integrates with the following applications:
ERPCloud, Magento Marketplace, Microsoft Azure, Shopware
Q. What level of support does SYMSON offer?
SYMSON offers the following support options:
Email/Help Desk, FAQs/Forum, Knowledge Base, Phone Support, Chat
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