Always being able to offer the best price – up to date, seasonal and with an eye on the competition: With the software from Aimondo GmbH, retailers, online stores and brands stay in the race for customers and sales. This Düsseldorf-based company, soon to be five years old, uses neural 3D pattern and image recognition to identify and put millions of items in context worldwide. In this way, artificial intelligence helps clients with strategic price marketing.
Today, everyone is talking about AI. Around ten years ago, Google employees and researchers and at best only nerds knew about the importance of this new digital approach – and Heinrich Müller. At the time, he was head of the IT department of a well-known company. It was here that he laid the foundation for a price optimization software. This software development encouraged him to make the leap to independence in 2016 with Aimondo GmbH. Today, driven by enthusiasm, he is perfecting this offer with an international, multilingual team in an open working atmosphere.
Current prices in minutes
Those who book “Smart Repricing” at Aimondo, receive daily yield-optimized price proposals of their own products, based on the offers of competitors, automatically and algorithm-supported. The software does the job in minutes. “No team in the world can analyze 100,000 or more products in all channels and countries, including the competition, and optimize them with regard to the best pricing,” says Heinrich Müller, explaining the great demand for this AI service. Scientific studies have shown that even a 1% increase in margin via Smart Repricing can increase EBIT by up to 15%. The return on investment is practically immediate.
Customers are enthusiastic about the innovations of this medium-sized company – whether consumer goods manufacturer, online marketplace, classic retailer or market research institute. According to company information, the methodology and the measuring accuracy of the price diversity arouses “astonished curiosity” or “desire for digital voodoo”, usually even both. Moreover, the management cadres of the customers enthusiastically take part in meetings of these Smart Repricing experts. This is because competitive pricing of a product range across a variety of channels and platforms is increasingly becoming a key factor in improving sales, margins and earnings worldwide in all industries. Not without reason Aimondo stands for “AI”, meaning Artificial Intelligence, and “Mondo”, meaning world.
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