FLORHAM PARK, N.J. -- KSS Inc. has announced its largest client commitment to date for its retail fuels pricing solution, PriceNet.
The technology company said it believes the commitment will be worth in excess of $3 million dollars over the next 12 months. It did not name the client.
The pressure on margins, brought about by intense price competition and volatile product costs, is forcing organizations of all sizes to evaluate their ability to price more effectively. We continue to view the U.S. as a key market for both fuels [image-nocss] and merchandise pricing solutions and will focus significant efforts and investment on developing our market position, said Iain Cockburn, CEO of KSS.
Florham Park, N.J.-based KSS, a provider of pricing solutions to the petroleum/convenience, chain drug and grocery sectors, helps retailers manage in excess of $50 billion annual revenue from more than 14,000 outlets, it said. Retailers use KSS solutions to add discipline to the pricing process, help make better-informed pricing and promotional decisions and implement decisions more efficiently. KSS software is available as an onsite, fully integrated system.