Al-Futtaim Improves Customer Retention and Bottom-Line Results Using Syncron Solutions
How does an industry titan maintain its leadership position in the automotive aftermarket sector? Al-Futtaim focuses on a combination of quality service and strategic pricing, supported by intelligent systems. In this video, learn how Al-Futtaim leverages Syncron’s Price solution across multiple brands and geographic locations to retain customers and deliver positive business results.Play Video
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I see Al-Futtaim as a market leader in UAE, with multiple brands with a reputation for quality and taking care of the customer first. After-sales is a key component for the automotive sector to keep the customer retention, keep the customer services at the right price, and delivering products at the right location at the right level of quality.
In the parts business, as we are all aware for every car, if you break down on a bill or ledger, we will have 5,000 parts numbers at least. And if you look at our range, we will go up to close to a million SKUs. And additionally, we also work with complexity, with our sales channels we have. We need a robust system, and there we have a good expertise from partners like Syncron. We have now partnered with Syncron also for the pricing of these complex channels and the products.
There are three main reasons why we selected Syncron as a partner. The first one is our longstanding relationship with Syncron. They have implemented in all our companies globally, and they are very focused on delivering the business benefit, not just the IT solution. And Syncron was more aligned to the requirements that we needed as a company. The third reason that Syncron came in as the winner in our tendering process was because of their focus on spare parts.
Since we’ve implemented the system, we’ve seen very beneficial business results. Within the first year, we managed to hit the target for the year by October. And we overachieved in total by about 26% within that first year. The second year is where we started to focus on implementing a group-wide pricing strategy. So, we created a group-wide pricing strategy and started to implement those into our different sales channels. Through that, we are now already overachieving this year’s target, which is significantly higher than last year’s.
The most value that we’ve had come from Syncron Price has been from the autonomous logic that is built into the system. So when new products are introduced, we are able to price them immediately. And when we have excess and aged stock, we’re able to react immediately, lower that product’s price, and to implement that in the market.
Most sales are distressed purchases, which means that pricing solutions have to be aligned to these. And the Syncron solution is very focused on finding solutions aligned to what we want to do as a business.