TLM Technologies has added to its evolution suite of solutions for forecourt and convenience store owners, with new fuel pricing software with artificial intelligence (AI) called evoPricePlus.
It is a cloud-based retail fuel pricing solution that proposes prices multiple times a day and analyses pricing performance against AI to give fuel analysts a competitive advantage.
The new software integrates with existing hardware and software at c-stores and fuel retailers to enable them to move prices to current POS systems, pumps, and signs at stores in real time.
“We have been working with TLM on dynamic fuel pricing to increase revenue at each of our six stores,” said Kumar Sharma, owner of the Falcon Sharma Group. “From what we have seen, this technology is going to be a game changer.”
Additional benefits of evoPricePlus include:
• Anytime, anywhere access - make pricing decisions on any device via the speed of the cloud;
• Flexible, easy-to-administer pricing workflows - configure fuel pricing processes the way you and your company work in minutes; no coding required. Address process accountability, compliance, and provide a full audit trail;
• Execute fuel prices - on POS and signs automatically in minutes with easy store / site integrations and global permissions;
• Increase fuel pricing efficiency - enable analysts to better price fuel in less time to provide value in other areas of the business;
• Maximise profits - find otherwise missed fractions in margin and volume gains that add up to significant profit gains with AI proposing fuel pricing;
• Analyse performance - easily scrutinise pricing behaviour changes and brand anomalies;
• Leverage the latest in artificial intelligence - comb through terabytes of data to give fuel analysts explainable, predictable fuel pricing recommendations for all of your stores;
• Easy roll out and staff training - intuitive technology and language, date/time, pricing, and time zones configurable to each user;
• Gain a single source of truth - connect your head office, back office, POS, and fuel pricing solutions via TLM evolution apps suite; and
• Developed with security upfront - two-factor authentication and latest security enhancements, including those in leading-edge Microsoft Azure hosting technology.
Brendan Doner, who joined TLM recently as director of data science, oversees evoPricePlus development and integration of artificial intelligence, complex data mining, and statistical analysis technologies to help convenience store owners assess business trends and opportunities to grow revenues.
Doner draws on over 15 years in data science, software development, customer service, and business development. Most recently he was a strategic insights consultant at Kalibrate. Before that, he was associate director of data science at PriceAdvantage.
“Fuel retailers need to be able to manage increasing fuel price volatility to be competitive and maximise profitability. Yet many are still relying on outdated processes or previous generations of technology,” said Lee Papper, CEO of TLM.
“At TLM, we intend to stay on the cusp to help retailers cull through data, extend human intelligence, identify trends, correlations, and find market opportunities. evoPricePlus replaces subjectivity with better decision making across stores to forecast and plan for the future. We are excited to announce evoPricePlus and Brendan to our team to help advance the way c-stores use artificial intelligence to gain an edge and become more profitable.”