Manchester, UK-headquartered Knowledge Support Systems (KSS) is rolling out ‘PriceNet SaaS,’ a hosted solution that offers fuel price management without upfront technology investments. The new solution provides automated fuel price management leveraging the software-as-a-service (SaaS) paradigm. All applications and customer databases are managed by KSS on its servers. SaaS eliminates the need for end users to deploy servers and other software and cuts IT maintenance costs. A ‘pay as you go’ licensing model includes software and model maintenance and support—allowing users to fine-tune the system to optimize performance.
KSS also announced that it has received a patent from the U.S. Patent and Trademark Office for the ‘intellectual property and processes’ underpinning its RackPrice fuel price management system for wholesalers. The patent includes RackPrice algorithms, calculations and formulas that help visualize competitive landscapes for each fuel site, review historical pricing data and analyze that information in real-time to measure the optimal fuel price that will maximize demand and improve profits for any location at any given time.
KSS CEO Bob Stein said, ‘Like our PriceNet system for fuel retailers, RackPrice was built from the ground up using advanced scientific and mathematic formulas at the core of the application. These were tuned to the fuel pricing process to give wholesalers, jobbers and marketers the automated tools and information needed to efficiently and accurately set competitive wholesale fuel prices.’
RackPrice 2.0 was released in February 2009 with enhancements to usability and pricing efficiency. The new features let wholesalers continuously review the competitive landscape and optimize pricing. More from www.kssg.com.
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