Coates Hire invests in price management software

Coates Hire in Australia is to implement a price management software system supplied by US-based PROS. The system will identify buying patterns and behaviours among its customers allowing it to forecast demand, monitor product profitability, and set pricing.

"Coates Hire has a very diverse range of equipment and customers servicing many different markets", said Coates Hire chief financial officer James Welch, "The PROS system will assist us with managing this complexity and reacting more dynamically to our customers' needs".

Founded in 1985, PROS has implemented more than 500 systems for clients including BASF, Dollar Thrifty and Lufthansa. Revenues being managed by its systems total around US$468 billion. The company employs more than 500 people and is headquartered in Houston, Texas, with a European office near London.

Mr Welch said PROS had shown "a clear understanding of our business, through a partnership approach with our teams during the vendor evaluation process."

PROS chief sales officer Chris Jones said Coates Hire's investment was indicative of a business environment where companies want to respond quickly to customer requests; "As part of our global expansion strategy, we are thrilled to begin this relationship with Coates Hires, and provide them with capabilities to support their business."