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AUCKLAND, New Zealand, Feb. 24, 2022 /PRNewswire=KYODO JBN/ --

- Recent study commissioned by Flintfox reveals that 90% of businesses are

struggling to manage market fluctuations caused by Covid-19 and inflation

A recent study conducted by Forrester Consulting on behalf of intelligent

pricing platform, Flintfox reveals that retail, manufacturing and consumers

goods companies are facing fundamental challenges in managing their profit

margins, due to the ongoing impact of COVID-19, inflation and supply chain

issues.

90% of businesses report that COVID is having a critical impact on the ability

to manage pricing across their product range, with 39% stating they are unable

to keep up with the scale of real-time price fluctuations in the market. This

is having a significant effect; with businesses losing on average $1m a year in

lost profitability due to their inability to respond quickly enough to market

forces.

The study of over 900 business leaders has revealed that existing business

models prevent them from managing the pace of change, with 41% still relying on

manual processes to manage price fluctuations. Over half (53%) state that the

pandemic has forced them to need better visibility into business performance on

profitability and margins to respond accordingly.

2022 will see business model transformation pushed up the Board agenda as

global change becomes increasingly unpredictable, with 60% of businesses

claiming that poor data quality and capture is hampering the ability to keep on

top of market fluctuations and remain competitive.

The research indicates that a shift to real-time, automated management of

pricing, will be a fundamental business priority to manage the impact of global

disruption in the year ahead, with one in five (23%) businesses implementing

intelligent pricing technology in 2022.

As the long-term effects of COVID-19 on the world's economy become increasingly

unpredictable, automating decisions around product pricing with intelligent

pricing is now seen as one the most important factors impacting business

outcomes by more than three quarters (77%) of businesses.

John Moss, CEO, Flintfox, commented: "After the continued uncertainty of the

pandemic, margins have never mattered more. As inflation and supply chain

issues continue to wreak havoc, it's increasingly critical for businesses to be

able to respond rapidly to market fluctuations. Moving to an intelligent

pricing model will enable businesses to better handle operational complexities

and future-proof their businesses from harmful market events."

SOURCE: Flintfox International