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KSS Completes Three Patent Applications for its RackPrice Wholesale Fuels Pricing Suite

 


Manchester, UK – 1 March 2007 – KSS, the worldwide leader in fuel wholesale and retail optimization solutions, announced today that following an award from the UK Government Department of Trade and Industry for innovation, it has completed three patent applications relating to their leading wholesale fuels pricing solution, RackPrice.

Two of the patents relate to techniques to improve the forecasting of actual competitive prices, the understanding of competitor strategies, the identification of changes and anomalies in competitor strategies and the classification of typical competitor responses. The third patent relates to a unique interface to assist analysts in the specification and management of sophisticated business rules whilst shielding them from the complexity of the underlying data.

KSS RackPrice has been specifically designed to support the wholesale and commercial / industrial pricing processes by helping fuels marketers set the best possible price for every channel, segment, rack and customer, combining sophisticated demand modeling with a highly configurable rules-engine.

Dr David McCaffrey, Senior Research Manager for RackPrice, commented, “We are excited about these research breakthroughs and are pleased to see that RackPrice is already allowing customers to drive real business benefit from deploying these new techniques to help make better pricing decisions”.

Mark Hawtin, VP Business Development, commented. “The area of forecasting and price management is becoming more important and challenging as fuel markets increase in volatility and complexity and standards of business governance and process management and controls increase. The development of solutions like RackPrice that allow operators to formalise the end-to-end pricing process and combine powerful modelling and forecasting techniques and data driven analytics with their own market knowledge and expertise will bring significant benefits to all operators”.

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