The largest untapped profitability lever in almost all businesses today is pricing effectiveness. Most companies still manage pricing by using spreadsheets to feed ERP systems, resulting in a lack of centralised visibility across pricing performance, competitive bids, incentive effectiveness, and account sales history.
Factor in different customer perceptions of value, changing competitive prices, cross-border price adjustments, cost changes and transfer pricing, and the task seems impossible. As a result, businesses assume they cannot apply advanced machine learning to identify new data-driven profit opportunities across product and customer transactions.
To tackle Pricing issues Vendavo® created PricePointTM that is a cloud-based solution enabling B2B organizations to centralize their pricing-related information across products and customers all in one place. Advanced machine learning is then applied, and unique profit-enhancing opportunities are identified. True dynamic pricing enables changes in real time, based on local market and competitive conditions. Global pricing structures, channel list prices, even customer-specific pricing policies can be managed within one solution. You can find out more about the solution here.
Duration. Vendavo® PricePointTM can be up and running in as little as two hours so you can increase profits immediately. Industry best practice configuration can be achieved in 2 WEEKS; full integration with ERP and CRM systems in only 2 MONTHS .