PriceAdvantage, a fuel price management software company and division of Skyline Products, is announcing new integrations with The Pinnacle Corp., an automation technology company for the convenience store and petroleum industries.
PriceAdvantage will integrate its fuel pricing software with Pinnacle’s POS and Retail Back Office and Home Office Systems, enabling stores to correlate fuel pricing strategies with in-store sales. Analysts can then determine how fuel sales impact in-store sales and vice-versa, helping them set strategies to build overall store profitability.
“At PriceAdvantage, we are focused on working closely with convenience stores and fuel retailers by providing state-of-the-art technology and flexible options to help them succeed with their fuel pricing strategies. Our new integration with Pinnacle overlays in-store sales for configurable product categories, such as special promotions or food, with fuel sales to help fuel analysts set the right fuel price and further maximize pricing strategies and profits across product categories,” said Chip Stadjuhar, president and CEO of Skyline Products.
The new integrations between PriceAdvantage and Pinnacle’s Systems, targeted for production release in Q4 2014, will include the exchange of three key elements.
First, PriceAdvantage can send fuel price changes to the Palm POS for price change execution. Second, PriceAdvantage can retrieve periodic fuel volumes, as reported by the Pinnacle tank monitor Web service. And third, PriceAdvantage will collect fuel and merchandise sales by store, as reported by the Pinnacle Manager Workstation. The information offers near real-time visibility into how well the fuel pricing strategies are working and allows fuel analysts to adjust pricing accordingly.
“In the convenience store industry, competition, promotions and pricing can play a huge role in profitability. With this integration, PriceAdvantage expands on its leading-edge technology to help stores maximize fuel pricing. Convenience stores that use integrated Pinnacle and PriceAdvantage software now have the tremendous advantage of being able to see the impact fuel strategies have on in-store sales, and how in-store promotions impact fuel sales. This powerful integration enables them to manage the big picture of overall store profits,” said Melissa Hadley, director of product management at Pinnacle.
Pinnacle has provided automation solutions for the convenience store and petroleum marketing industries for more than two decades. Nationwide, its products and services are used daily in thousands of convenience outlets to automate and improve store operations, and by fuel marketers to increase efficiency in the complex management of fuel logistics.
PriceAdvantage combines the art and science of fuel pricing. First, it allows users to create business rules using their wisdom and insight regarding the special circumstances surrounding each store location—that’s the art. Next, it calculates and reviews prices using a scientific, economic algorithm—that’s the science. The result is the best of both worlds where fuel analysts arrive at successful pricing strategies and fuel pricing excellence.