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Our Rating Engine cannot efficiently automate such sophisticated models..."
The competitive business landscape is forcing enterprises to look for capabilities that allow them to right-price every transactional situation and do so consistently and accurately for tens of thousands of transactions per second.
To deliver on this goal, a flexible and powerful Rating & Dynamic Pricing infrastructure is needed. This infrastructure has to be able to support multiple operational challenges encountered by enterprises.
- Rate & Price different kinds of transactional line items like products & options, packages & bundles, metered resource usage, fees, surcharges & taxes; based on pre-defined pricing plans (and agreements).
- Support Dynamic Pricing Controls like Product Bundling Discounts, Customer and Relationship based Price modifiers & Fee Rebates.
- Efficiently manage Multi Dimensional Rates and Pricing Calculations wherein variants for Rates or Pricing Calculations or Rules can be tailored for different transactional dimensions; for example – Marketing Program & Package, Segment, Agreement, Region, Group-Client, Affinity-Partner, Risk tier, etc. Since this can result in an explosion in the number of dimensions and combinations for which Variants have to be organized and enforced, the underlying technology has to be extremely efficient to achieve desired levels of system performance and to prevent escalating maintenance costs.
- Enable non programmers to author and test Rating & Dynamic Pricing definitions & logic through easy-to-use GUI tools. This can eliminate the delays and translation gaps associated with more traditional software development and change processes wherein business writes up detailed specifications documents and hands over to IT for programming.
- Reuse Rating & Dynamic Pricing capabilities seamlessly within various enterprise systems and processes like Quoting, Billing, Deal negotiations, Account renewals, etc; by accessing these capabilities via standardized interfaces. This reduces duplication of the same Rating & Dynamic Pricing logic & definitions in multiple administration and processing systems; which in turn reduces system maintenance costs and delays.
ValueMomentum Services
With a track record of production installations at several Financial
Services providers and Insurance Carriers, ValueMomentum is at the
forefront in assisting Clients with initiatives related to Pricing /
Rating 