Nomis Solutions' Founder Recognized For His Advancement of Revenue Management and Pricing Practices
Dr. Robert L. Phillips' Book "Pricing and Revenue Optimization"
Awarded Best Published Work in Revenue Management and Pricing Category by INFORMS
SAN BRUNO, CA November 28, 2006-- Nomis Solutions, the leader in Profit-based Pricing for banking and finance, today announced that its founder, Dr. Robert L. Phillips' book Pricing and Revenue Optimization has been recognized by the Institute for Operations Research and Management Sciences (INFORMS) as the best contribution to the science of pricing and revenue management published in English. Dr. Phillips' book fills a void in pricing optimization and revenue management literature by making the underlying mathematics in this area accessible to those who have had basic courses in statistics, probability, and optimization.
"This work is in the best tradition of the practice of Operations Research and the Management Sciences," according to the INFORMS award citation. "Dr. Phillips' book does a masterful job of conveying many of the key modeling factors that should be considered when trying to optimize prices. The book is concise and contains information that is both insightful and practical."
Pricing and Revenue Optimization reflects Dr. Phillips' deep professional experience in applying pricing and revenue optimization to multiple industries and serves as a valuable resource to train future generations of managers and applied scientists. Before founding Nomis Solutions, which provides pricing optimization solutions to the financial services industry and is currently working with 7 of the top 20 banks in the world, Dr. Phillips served as Chief Technology Officer of Manugistics where he was the key visionary for Manugistics' Pricing and Revenue Optimization and Enterprise Profit Optimization solutions. Prior to that, he was Founder and Chief Executive Officer of Talus Solutions - at the time, the world's largest pricing and revenue optimization company. Over the past 15 years, Dr. Phillips has helped leading companies optimize price and revenue within a wide variety of industries including airlines, rental cars, hotels, automotive, electric power, freight transportation, and manufacturing.
"I am very honored that my book was recognized by INFORMS. The business benefits of price and revenue optimization are now expanding beyond the initial industries first implemented," said Dr. Phillips, CTO & vice president of product management for Nomis. "At Nomis Solutions, we're seeing tremendous growth in the level of interest from the financial services industry, including, auto finance, home equity lending in the U.S. and personal lending, and motor finance abroad."
Nomis Solutions will be providing free copies of Dr. Robert L. Phillip's award-winning book to registrants at the "Strategic Pricing in the Financial Sector" conference held in New York, December 4-5, 2006.
About INFORMS
The Institute for Operations Research and the Management Sciences (INFORMS) is the largest professional society in the world for professionals in the field of operations research (O.R.). It was established in 1995 with the merger of the Operations Research Society of America (ORSA) and The Institute for Management Sciences (TIMS). The society serves the scientific and professional needs of O.R. educators, investigators, scientists, students, managers, and consultants, as well as the organizations they serve, by such services as publishing 12 scholarly journals that describe the latest O.R. methods and applications and a membership magazine with news from across the profession. The society organizes national and international conferences for academics and professionals, as well as members of the society's special interest groups. The Institute serves as a focal point for O.R. professionals, permitting them to communicate with each other and reach out to other professional societies, as well as the varied clientele of the profession's research and practice.
About Nomis Solutions
Nomis Solutions is the leader in Profit-based Pricing for banking and finance. The Nomis Price Optimizer™ Suite is designed for executives whose top priority is to strategically use pricing to increase profitability while maintaining revenue and market share. Because of the unique needs of each banking and finance business, the suite includes specific solutions for the following: Direct and Indirect Auto Finance, Home Equity Lending, Personal Lending, Savings and Deposits, and Treasury Services. Each solution is implemented in 12 weeks, provides valuable insights about the business, and increases profits within three months. All Nomis customers have achieved 10X ROIs. Headquartered in San Bruno, CA, Nomis Solutions has offices in Charlotte, NC, New York and London, UK. Visit www.nomissolutions.com or call 650-588-9800 for more information.
