The Nashville, Tenn.-based company purchased PriceNet in order to respond quickly to changing oil prices and help its sites maintain profitability despite energy market fluctuations, it said.
PriceNet is a comprehensive pricing solution that supports the key tasks and stakeholders involved in retail fuels pricing, from capturing field-based [image-nocss] intelligence at the site level to the generation of price proposals, via comprehensive pricing rules or price optimization, to consistent and timely implementation. High levels of automation and an exception-based approach ensure a rapid response to competitors and market conditions and allow pricing analysts to leverage the power of pricing analytics. PriceNet Web facilitates exchange of data between field offices and the head office to allow review and authorization of price adjustments more quickly at a local level. PriceNet Web is fully integrated with PriceNet, requiring only a PC and Internet access for use.
"Our PriceNet and PriceNet Web will let [Tri Star] evaluate pricing at the local site level and make informed pricing decisions rapidly," said Bob Stein, president and CEO of KSS.
Founded in 2000 and headquartered in Nashville, Tri Star Energy is a joint-venture ownership with Motiva Enterprises LLC, Kimbro Oil Co. and The Parman Corp.
KSS is a provider of pricing analytics, price management, rules-based pricing and optimization technology and services to fuel retailers and wholesalers in the oil and gas, convenience store, grocery and big box retail industries. KSS clients include global, national and regional companies managing more than $180 billion in revenue through more than 25,000 fuel sites and rack terminals throughout the world. KSS U.S. headquarters are located in Florham Park, N.J. and European headquarters are based in Manchester, U.K.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.