Bristol and Napoleon IT have entered into an agreement to implement a price monitoring system using computer vision algorithms

2021: Agreement on the implementation of an intelligent price monitoring system for competitors

Bristol and Napoleon IT have entered into a strategic cooperation agreement, during which an intelligent price monitoring system will be introduced for competitors. PowerPrice The next step is to implement a pricing management system. This was announced on September 22, 2021 by Bristol.

The Russian chain of stores at home is faced with the task of optimizing and accelerating the process of collecting information on competitors.

In June 2021, the competitor price monitoring system underwent industrial operation with an updated data collection mode through a mobile application using computer vision, as well as integration with the customer's ERP system. As of September 2021, 4,500 Bristol employees are using the mobile application, and a price tag recognition system is being trained for the entire range of products

The recognition of price tags of competitors is carried out using computer vision (artificial intelligence). These technologies have increased employee productivity several times: the number of received data on goods has increased on average from 50 to 250 pieces in 2 hours. Internal data verification algorithms reduced the number of erroneous positions in monitoring that were previously allowed during manual collection, which positively affected the quality of work.

After the completion of this phase, the companies plan to implement a retail pricing management project based on an intelligent PowerPrice system to fine-tune the pricing strategy in order to provide better prices to their customers and increase the company's gross income by increasing volumes.

Bristol is our strategic partner, we are glad that our solution PowerPrice, thanks to artificial intelligence, helps to increase the effectiveness of the monitoring process and provide the best prices to our customers, "commented Konstantin Price, commercial director of Napoleon IT. The next logical step will be the introduction of an intelligent pricing management system, which will allow our partner to reach another level of effective price policy management.