Israeli artificial intelligence price optimization platform Quicklizard (TASE: QLRD) has signed a strategic agreement with Ikano, which operates in South Asia and is part of the global IKEA group. The initial customer agreement is expected to cover Singapore, Malaysia, Thailand and the Philippines, and is expected to extend to other countries in the future. The deal provides the AI price optimization software company to consumer retailers and brands an important ticket to enter new markets. The AI pricing optimization platform Quicklizard will allow IKEA to realize its change in marketing approach and evolve to fully digital pricing. Related Articles Quicklizard signs Australia and New Zealand distribution agreement Benny Mandel, CEO of Quicklizard, said, “We are pleased to announce a significant milestone in Quicklizard’s global expansion. With IKEA as our customer, we are strategically entering South Asia. This happens after success in Europe and increasing our investment in US growth.” He added, “It is no coincidence that we are chosen by a global retailer and design giant like IKEA. Our technology and staff are smart, light, and of course – fast. It’s in our name, after all. Quicklizard is complex on the inside but simple on the outside. Inside, We handle complex multi-channel pricing rules, product portfolios, and business strategies. From the outside, our customers get the optimal price for every product, in every channel, all the time.” “Quicklizard is active in most retail sub-sectors in more than 20 countries. We help omnichannel retailers automate and optimize their pricing and promotions across all channels. The way the AI price optimization platform works is that it first connects to all the data that affects prices. It sends it to the pricing engine, which calculates and recommends the optimal price for each item for each channel. Accepted recommendations are then automatically posted to the correct channels and updated in ERP records, creating a closed pricing cycle Our open platform supports virtually any industry specific pricing use case that can be imagined.” Published by Globes, Israel business news – en.globes.co.il – June 3, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021
Quicklizard signs agreement with IKEA South Asia
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