Syncron Price Selected by Mitsubishi Motors Corporation to Boost Enhanced Service Parts Pricing Strategy

Leading automotive company implements Syncron Price™ to drive more efficient price management operations and further price optimization to maximize consolidated sales and profit.

TOKYO, June 7, 2022 /PRNewswire/ -- Syncron, the largest privately-owned global leader in intelligent Service Lifecycle Management SaaS solutions, announced today that Mitsubishi Motors Corporation (MMC), has selected Syncron Price™ as the underlying technology to support its service parts pricing strategy.

The importance of the aftermarket business is widely recognized for its direct link to high profitability and customer satisfaction as consumer behavior shifts from sell-out to subscription models and from products to services.

Similar changes are also occurring in the manufacturing industry, which is being affected by changing consumption styles and evolving technologies, such as the early termination of component production due to shorter life cycles and the emergence of new types of digital components related to digitization. Against this backdrop, the task of forecasting the volume of demand and optimizing the appropriate price is becoming increasingly difficult. There are still many companies using manual entry in Excel or relying on intuition and experience, resulting in a growing gap between issues that require resolution and the current business environment.

To establish more efficient and accurate pricing operations, MMC sought out a solution that can be used as a base system for pricing management operations for some time.

"After comparing functions based on our requirements, we decided to go with Syncron, which has the highest reputation as a solution vendor, has a wide range of activities in Japan, and offers the best support," said Mr. Tsuyoshi Sasaki, Manager of IT project promotion, Global IT Division, Mitsubishi Motor Corporation. "Syncron is the best solution for us. Additionally, we appreciate that we now have a solution that will evolve as a product in the future."

Syncron Price is a cutting-edge aftermarket pricing solution that leverages real-time market conditions, input costs, and competitive perspectives to help manufacturers improve productivity, reduce costs, and free valuable time to focus on handling and monitoring non-standard, complex situations.

"As one of the world's largest, most trusted automotive manufacturers, Mitsubishi faces an especially complex aftermarket pricing management landscape. So many SKUs, so many variables to consider as they work to simultaneously delight customers while protecting their margins," said Anneliese Schulz, chief sales officer, Syncron. "Fortunately, Syncron was designed to transform manufacturers' most complex aftermarket challenges into competitive differentiators. We couldn't be more honored to partner with a globally respected brand like Mitsubishi to supercharge their customer satisfaction and pricing strategy - both in the short and long-term."

To learn more about Syncron Price, www.syncron.com/price.

Mitsubishi Motors Corporation (TSE: 7211) —a member of the Alliance with Renault and Nissan—, is a global automobile company based in Tokyo, Japan, which has more than 30,000 employees and a global footprint with production facilities in Japan, Thailand, Indonesia, mainland China, the Philippines, Viet Nam and Russia. Mitsubishi Motors has a competitive edge in SUVs, pickup trucks and plug-in hybrid electric vehicles, and appeals to ambitious drivers willing to challenge convention and embrace innovation. Since the production of our first vehicle more than a century ago, Mitsubishi Motors has been a leader in electrification—launched the i-MiEV –the world's first mass-produced electric vehicle in 2009, followed by the Outlander PHEV –the world's first plug-in hybrid electric SUV in 2013. The company announced a three-year business plan in July 2020 to introduce more competitive and cutting-edge models, including the Eclipse Cross (PHEV model), the all-new Outlander and the all-new Triton/L200.
For more information on Mitsubishi Motors, please visit the company's website at
https://www.mitsubishi-motors.com/en/

Syncron empowers leading manufacturers and distributors to capitalize on the world's new service economy. We improve aftermarket business profitability, optimize working capital, increase customer loyalty, and enable our customer's ability to transition successfully to future service-driven business models. With our industry-leading investments in AI and ML, Syncron offers the first, innovative, customer-endorsed, and complete end-to-end intelligent Service Lifecycle Management (SLM) solution portfolio. Syncron's offer encompasses leadership solutions such as: service parts inventory, price, equipment uptime, warranty, service contract, and field service management. Delivered on Syncron's Connected Service Experience (CSX) cloud platform, our solutions offer our customers competitive differentiation through exceptional aftermarket service experiences, while simultaneously driving significant revenue and profit improvements into a manufacturers or distributor's business. The world's top brands trust Syncron, making it the largest privately-owned global leader in intelligent SLM SaaS solutions. For more information, visit syncron.com.

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SOURCE Syncron