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Price Erosion Challenges for Technology Companies: A Better Approach with Pricing SoftwareWhen companies lack a disciplined price setting approach, too many prices end up being approved via exception, greatly increasing the risk for an acceleration of price erosion. To help take back control of pricing, technology companies need better insight into list price setting and automated methods to determine price guidance targets for negotiated deals. Pricing software helps companies not only take back control of price concessions but also proactively shape price erosion curves through automated price analysis and guidance.
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Here There Be DragonsMany corporations are managing pricing programs like ship navigation of yesteryear, trying to steer the ship without one of the necessary navigation axes. The ability to successfully steer your program to the desired destination requires the right transaction-level infrastructure. This paper explains how to set a solid transaction-level foundation in place by ensuring organizational readiness, confirming data accuracy, and embedding the right transaction infrastructure into the current IT function. The result is the ability to develop your pricing strategy in-house, reducing the costs of your price optimization efforts and empowering your management team to run an ROI-driven pricing program.
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Creating Pricing Power for Paper, Packaging and Container CompaniesEarlier this year, Warren Buffet was quoted as saying, “The single most important decision in evaluating a business is pricing power.” For the Forest Products industry, real time, market-based pricing power is more important than ever. This paper explores how to put the power of pricing into practice by creating a proven framework that delivers the process and technology needed to help forest products companies realize greater profitability through smarter, more targeted pricing.
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Top 8 Myths of Pricing Optimization - What You Should Know About Pricing "Optimization" TechnologyThis white paper explores the top misconceptions or myths that are often associated with pricing optimization to help companies considering pricing software make more informed decisions. Given the complexity of pricing analysis, the reader will gain a better understanding of how to evaluate pricing optimization vendor offerings, and what to should expect from technology that promises to optimize pricing and improve profitability.
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Accenture Whitepaper - Going for GrowthDuring economic downturns, it has become standard operating procedure for companies to rush to slash costs in response to a dramatic slowdown in demand. Even as the market begins to show signs of recovery, how can companies reignite growth in a time of uneven demand while continuing to make intelligent reductions in cost to strengthen profitability. Accenture believes the answer lies in appropriately aligning price and costs. This white paper discusses how companies are positioned to use pricing to capitalize on emerging growth opportunities, how they can use cost reductions to maintain and improve profitability, and ways to combine the two efforts to drive even greater competitive differentiation and profitable growth in the months and years ahead.
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Accenture Whitepaper - Pricing for the UpturnA pricing function focused on managing in an economic downturn is fraught with risk. Not only does this type of strategy cause companies to miss the potential short-term gains offered by an improvement in the economy, but it also can damage the long-term price positioning of the overall enterprise. This paper explores the key elements of an “upturn-ready” pricing function, as well as the key success factors for helping to ensure that changes made now support the growth of a long-term, sustainable pricing capability.
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Deloitte Whitepaper - Service Parts Pricing and Profitability
Unlocking profits through effective pricingFor service parts manufacturers there are profits to be made even in tough economic environments. Optimizing profits from service parts business is matter of understanding the common myths that typically hold companies back from realizing the best returns.
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Empower Your B2B Sales Force with Pricing Technology: Not Just for the Big Guys Any Longer
By Craig ZawadaWhile the benefits of pricing software technology are enjoyed by many large, multi-national B2B enterprises, these tools have not always been within reach of midsize organizations. Yet, it is precisely midsize organizations that might benefit the most from pricing software tools---especially when it comes to helping their sales teams close profitable deals. Learn more about an affordable, practical way to leverage pricing software that integrates with existing CRM systems, such as salesforce.com, and helps companies make more profitable sales decisions.
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How to Go from Good to Great with Pricing SoftwareThe day is coming soon when most companies will consider pricing software as an essential part of company operations, providing the foundation for sustained profitability. This paper explores the complexities and market dynamics driving the need for advanced pricing tools, and how, with the help of software, companies are able to leverage the power of pricing to dramatically increase profitability and achieve a compelling competitive advantage.
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Why Leading SAP Companies Choose PROS Software for Pricing and Margin ManagementCIOs and CFOs have the opportunity to enhance their SAP solutions with advanced pricing technology through third-party vendors such as PROS. Given the complexities inherent in enterprise application deployments of both Pricing and SAP ERP software applications, it is critical to evaluate options in third-party software and select a partner with proven experience and expertise.
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How Industrial Distributors Can Double Their Profits in Complex Contract NegotiationsIn a world where competitive pressures do not exist, pricing for distributors would be simple and straightforward. Manufacturers would publish List Prices for their products and provide their distributors with Net Prices. The distributor would use the Manufacturer’s Suggested Sell Price to establish customer pricing, with the gross margin covering operational costs and profit targets.
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The Profitability Safety Net No CFO Should Be WithoutCFOs are the ultimate guardians of profitability. As such, they have invested in what equates to a “profitability safety net” that is intended to give them visibility and control over all profit factors. However, the resulting net often has a gaping hole: Processes, technologies, information, people, and governance that have been put in place over the years and been put to the test during the recent economic downturn have helped restore margins but failed to correct structural leakage and protect against increasing uncertainty. This white paper illustrates where the profitability safety net is falling short, how pricing systems can deliver the ultimate fix, and what concrete steps the CFO can take immediately.
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Tackling the Top 6 Pricing Challenges in the Chemical Industry The chemical industry faces a number of challenges setting prices. For example, relentless price competition and significant cost fluctuations challenge many companies to accurately set prices. At the same time, they are trying to align prices to value and sell that value in order to target the right prices to the right customers. This white paper highlights the top six pricing challenges facing the chemical industry today and how industry-leading companies are tackling these challenges using pricing best practices and technology solutions.
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Realizing the Benefits of Price Guidance Through Effective Sales Force AdoptionOf the many ways in which enterprise pricing solutions generate value for business-to-business companies, few have greater bottom-line impact than that of PROS PriceGuidance. Typical margin gains from implementing PROS Price Guidance range between 150 to 350 basis points, depending on specific company, industry, and market characteristics. While other benefits from implementation of enterprise pricing solutions, such as eliminating or improving under-performing customers, can have substantial margin impact, they seldom independently equal those provided by scientificallydetermined price guidance. However, the promise of margin uplift gains from pricing guidance is not guaranteed. That’s because realizing potential gains from price guidance is highly dependent on effective sales force adoption.
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Maximizing Profit Capture for Medical Device ManufacturersFacing unprecedented changes from government health care reform, device approval regulations, changes to sales relationships, and shifts in buying power, medical device manufacturers are under extraordinary profit pressure. This paper explores the implications of these challenges and the four essential strategies required to gain control over pricing processes, define product value, and increase profit visibility.
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Maximizing Fuels Pricing Amidst Volatile Demand and Product ProliferationPetroleum companies have been operating in a very uncertain global market in recent years. As a result, most companies’ pricing systems and processes are unable to keep up with today’s more complex business environment, which can result in downstream oil companies leaving hundreds of millions of dollars on the table. This white paper—a collaborative effort between Accenture and PROS—talks about a new approach to pricing for the industry.
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Change Management in Pricing Projects: 4 Key Steps to Assuring User/Sales AdoptionExperience shows that achieving a successful implementation of a pricing project requires three types of change: operational change, process alignment, and adoption. This white paper focuses on the critical components of the third type of change, the adoption process.
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The Critical Variable in Pricing: Understanding Willingness-to-Pay in Business-to-Business MarketingThis paper explains the concept of “Willingness-to-Pay and how B2B companies can put it into practice to strengthen competitive advantage and increase profitability.
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Teaching an Old Distributor New Tricks: How Variant Pricing in Distribution Helps Drive ProfitsThis white paper describes how variant pricing can be applied to the distributor business model, resulting in increased competitive position and enhanced profitability.
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Market-Based Pricing With Competitive Data: Optimizing Prices For The Auto/Equipment Parts IndustryThis paper explores new methods of overcoming the “market-based pricing credibility gap” with prescriptive pricing for parts that incorporate more comprehensive scientific methods and automation.
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Making Business Rules Work in Pricing OptimizationThis paper addresses the important role of business rules in pricing optimization. The importance of implementing and effectively managing business rules is often overlooked.
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Balancing Tradeoffs with an Efficient FrontierThe concept of the efficient frontier is a sophisticated, but at the same time a very intuitive way of bringing optimal pricing recommendations for slightly varying business scenarios to the fingertips of the pricing analysts.
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Increasing Sales Force Performance through Science-based Pricing Guidance at the Point-of-SaleSales representatives can increase their own personal performance and that of the company if they are given fact-based, scientific pricing guidance at the point-of-sale.
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Improving Pricing Performance with Pricing OptimizationWhile profits and revenues are typically an important part of pricing, objectives can also include setting prices that achieve certain levels of market share, or prices that don’t impinge upon customer satisfaction.
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Integrating the PROS Pricing Suite in Microsoft’s EnvironmentMany companies are recognizing that they can improve their business performance and profitability by strengthening their pricing capabilities.
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Integrating the PROS Pricing Suite with SAPThe PROS Pricing Solution Suite™ empowers companies to implement more dynamic and flexible pricing policies and perform more meaningful analysis of pricing performance than possible when using SAP alone.
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Achieving Pricing Excellence with Science-Based SegmentationScience-based segmentation utilizes intense data analysis and statistical methods to group customers into “significantly similar” buckets. The object is to create segment optimized pricing given particular buying behaviors of that segment.
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Proven Best Practices for Integrating Cash Flow Considerations into Pricing DecisionsVisibility to the timing of cash flows and the required working capital, as well as the exposures, can help companies make the best overall business decisions including pricing decisions.
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