FLORHAM PARK, N.J. -- Knowledge Support Systems (KSS) Ltd., a global supplier of wholesale and retail fuels price management and optimization software, said that its RackPrice and PriceNet applications have become SAP-endorsed business solutions.
As part of the agreement, KSS and SAP will provide development resources, exchange and share technology and collaborate on product roadmaps, as well as jointly market RackPrice and PriceNet.
KSS worked with SAP to deliver "out-of-the-box" integration, eliminating the need for custom integration and providing low total cost of ownership, [image-nocss] said the Manchester, U.K.-based company, which has U.S. headquarters in Florham Park, N.J.
KSS RackPrice and PriceNet are two of only 20 SAP-endorsed business solutions worldwide and are the only solutions endorsed by SAP AG for fuels price management and optimization, KSS said. SAP and KSS will ensure upgrades to their respective solutions will remain compatible with the integration, eliminating risk and cost for customers, said the company.
"SAP's endorsement significantly extends the business relationship between KSS and SAP that began several years ago," said Bob Stein, CEO for KSS.
KSS's RackPrice and PriceNet solutions endorsed by SAP and integrated with SAP solutions can manage pricing of all commodities and channels of trade from refinery gate to retail pump for the oil and gas industry's marketing and retail segments, the firm said.
"By integrating KSS RackPrice and PriceNet and enabling their capabilities to be used and leveraged by our existing portfolio of pricing solutions, SAP is helping to ensure that fuel wholesalers and retailers may improve pricing effectiveness and responsiveness across all products and channels of trade from refinery gate to pump," said Peter Maier, senior vice president of ISM Process Industries at SAP AG. "Joint customers may significantly reduce the costs and risks of integration. The goal of integrating these solutions from KSS is to allow customers to make better business decisions and leverage their existing IT investments to improve their competitiveness in the oil and gas industry."
RackPrice enables wholesale fuels distributors to meet their volume objectives at the maximum achievable margin by managing price/volume volatility, defining and hitting price strategy targets and applying price analytics and optimization to tailor pricing tactics to individual terminals, channels and customer segments.
PriceNet enables fuel retailers to meet volume goals at maximum achievable margin by consistently applying pricing rules and optimization, responding to market events and analyzing location and grade-specific price sensitivities to strike the optimum profit-volume balance.
SAP-endorsed business solutions are complementary to SAP software offerings, are developed in accordance with SAP development guidelines and provide additional choices and flexibility for businesses running SAP software. SAP-endorsed business solutions are powered by the SAP NetWeaver platform.
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