GPM Investments, LLC Streamlines Fuel Pricing with KSS PriceNet
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GPM Investments, LLC Streamlines Fuel Pricing with KSS PriceNet


PriceNet selected to reduce response times and highlight key performance issues


FLORHAM PARK, N.J.—Feb. 19, 2008. KSS, the global leading supplier of pricing analytics, execution and optimization systems to the petroleum industry, announces that GPM Investments, LLC which does business under the trade names Fas Mart and Shore Stop, a Virginia based company with over 200 convenience stores, has selected PriceNet, a fuel price management and optimization system, for a company-wide implementation.


GPM has chosen PriceNet to streamline its fuel pricing process for their 200+ convenience stores in the Mid Atlantic and Northeast. With the help of PriceNet, Fas Mart will be able to review up-to-the-minute information relevant to the performance of each fuel grade at every location on an exception basis. Automated alerts and exceptions will enable the pricing team to take immediate action by focusing their attention on the suggested pricing opportunities.


Don Bassell, CFO, said, “Our customers have come to know us for our commitment and passion for excellence and it was our desire to extend this to our fuels pricing that eventually steered us to the KSS PriceNet solution. We are excited to begin the roll-out and look forward to seeing the benefits of PriceNet within a relatively short timeframe."


PriceNet is an end-to-end pricing solution supporting the key tasks and stakeholders involved in retail fuels pricing, from capturing field-based intelligence at the site level to the generation of price proposals via comprehensive pricing rules or price optimization to consistent and timely implementation. High levels of automation and an ‘exception-based’ approach ensure a rapid response to competitors and market conditions and allow pricing analysts to leverage the power of pricing analytics and automation.


“GPM’s desire to challenge one of its core business processes typifies a growing trend among convenience chains to leave no stone unturned in the relentless search for greater efficiencies, more focused customer service, and bottom-line performance improvement. We are delighted they recognized the capabilities of our PriceNet system and the skills of our people to help them in their quest for more effective fuels pricing. ” said Bob Stein, KSS chief executive officer and president.”


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About Fas Mart


GPM Investments, LLC began operations in March 2003 with the purchase of the assets of Fas Mart Convenience Stores, Inc. The company has successfully grown the chain over the past four years to include over 200 company operated sites and an additional 135 dealer locations. The company has over 1,800 employees with annual revenue in excess of $1 billion dollars projected for fiscal 2008.


About KSS

 
KSS is the global leading provider of pricing analytics, price management, rules-based pricing and optimization technology and services to fuel retailers and wholesalers in the oil and gas, convenience store, grocery and big box retail industries. KSS clients include global, national and regional companies managing a total of over $100 billion in revenue through more than 20,000 fuel sites and rack terminals, throughout the world. KSS US headquarters are located in Florham Park, NJ with European headquarters in Manchester, UK.


For further information please visit the website at www.kssg.com or contact:


Bob Stein, Chief Executive Officer Tel: +1 (973) 549 1850
Mark Hawtin, Vice President Marketing Tel: +44 (0)161 228 0040


For media inquiries, contact Roy Miller Tel: +1 972 717 3500 ext 235 or rmiller@transsynergy.com

Arrange a consultation, USA (973) 549 1850, Europe +44 (0) 161 228 0040, Contact us

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