REVOLUTIONIZING 3PL SALES WITH THE REVENUE OPTIMIZATION SYSTEM
SOLUTION
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Revenue Optimization System
VERTICAL
Supply Chain Logistics
RESULTS
92% Time Saved
5-7 Margin Points Added
TECH USED
IDP
Data Lab
AI/ML
CORE THEMES
Efficient Data Processing
Intelligent Pricing Strategy
AI-Enhanced Decision Making
Significant Time and Cost Efficiency
ENGAGE WITH US
Discover how
Bear Cognition can transform your data into a strategic asset.
CLIENT CHALLENGE
A leading 3PL company faced a highly inefficient and time-consuming sales process. Sales personnel were manually processing large volumes of invoices (ranging from 100 to over 40,000), a task that took an average of 9 hours per rep. They were then using basic tools like Excel and separate corporate technology to generate pricing, often resorting to the lowest price option to secure deals. This laborious process concluded with the creation of sales proposals in PowerPoint, resulting in delayed responses and missed opportunities.
OUR SOLUTION
Bear Cognition developed a cutting-edge Revenue Optimization System to transform the 3PL’s sales process, incorporating:
Intelligent Pricing
The system allows salespeople to efficiently evaluate pricing on a per-invoice basis or apply a blanket pricing policy, informed by a cost structure provided by corporate guidelines.
AI-Enhanced Recommendations
Utilizing AI, the system analyzes all uploaded invoices to suggest the most strategic pricing options, maximizing profitability while remaining competitive.
Enhanced OCR Analysis
Our AI-powered Intelligent Document Processor automatically manages complex invoice data from both PDF and CSV formats, eliminating the need for manual data entry and ensuring accurate and efficient data ingestion. With OCR technology at a 97% accuracy, our IDP offers the ability to edit and teach the ML process to always be improving.
Automated Proposal Generation
Once the pricing strategy is finalized, the system automatically generates a detailed, professional proposal ready for presentation to the prospect.
RESULTS
Implementation of the Revenue Optimization System has dramatically reduced the processing time from up to 9 hours to just 15-25 minutes. Additionally, the client has reported a significant increase in gross margin, ranging from 3% to 6% on new clients, thanks to more strategic and responsive pricing decisions.
TECHNOLOGY BEHIND THE SUCCESS
The backbone of our system is the proprietary AI-enhanced Intelligent Document Processor which swiftly interprets complex invoice data. The custom AI/ML logic built by our team in the Data Lab facilitates accurate pricing decisions and evolves based on each sale's outcomes, continually refining suggestions. Bear Cognition’s Software with a Service (SwaS™) model was crucial in seamlessly onboarding numerous franchisees for immediate integration. This approach combined powerful software tools with expert consultation, ensuring efficient and effective system adaptation across all franchisees.
TRANSFORM YOUR BUSINESS
With Bear Cognition's Revenue Optimization System, empower your sales team to make faster, smarter, and more profitable pricing decisions. Join us in embracing the future of sales optimization and let us help you transform your sales process to achieve remarkable efficiency and profitability.
ADDITIONAL USE CASES
RETAIL
Inventory
Management
Applying the intelligent pricing and AI-enhanced recommendations to manage and price inventory in real-time, helping retail companies avoid overstocking or stockouts.
Dynamic
Pricing
Using the system for dynamic pricing strategies, adjusting prices based on market demand, seasonality, and competition.
MANUFACTURING
Supply Chain
Optimization
Employing the system to optimize the supply chain by analyzing vendor invoices and production costs, thereby ensuring competitive pricing of the finished goods.
Cost
Analysis
Implementing enhanced OCR analysis to streamline the processing of raw material invoices and improve budgeting accuracy.
FOOD AND BEVERAGE INDUSTRY
Optimal Storage
Fee Structuring
The system can analyze storage durations, space utilization, and client storage patterns to suggest the most profitable storage fee structures. This could help in maximizing revenue based on fluctuating demand and seasonal storage needs.
Dynamic Pricing for
Value-Added Services
Warehousing businesses often offer additional services such as pick-and-pack, cross-docking, and inventory management. The system can dynamically price these services based on client usage, complexity, and market rates to enhance profitability.
LOGISTICS AND DISTRIBUTION
Loan
Processing
Incorporating OCR and AI analysis to optimize the loan approval process by efficiently analyzing financial documents and recommending loan terms.
Risk
Assessment
Utilizing AI to enhance risk assessment models by analyzing transaction records and customer financial behaviors.
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