Pricing Software Implementation Support
A Pricing Software is a set of tools used for data collection, price performance diagnostics, and market evaluation for the sake of making informed business decisions about pricing.
The promise of Pricing Software is fairly simple & attractive:
- Pricing Science: Leverage superior data tracking & analysis capabilities will enable you to continuously identify & implement margin improvement opportunities
- Segmentation: Identify & execute detailed Value/Pricing based customer segmentation to execute targeted pricing & improve ‘Value Capture’
- Price Setting: Determine objectives & set optimal pricing reflecting Customers’s Willingness To Pay
- Discount & Rebates Management: Optimize Client Conditions to deliver per-formance & minimize ‘money left on the table’
- Field Execution: Support sales teams & channels to help them sell the Price & Value &and to deliver more profitable deals
- Process Integration: tie Pricing to corporate wide business processes to ensure coherence & effectiveness
Well... in a perfect world...
In reality, the vast majority of Pricing Software undertaken by companies have failed or delivered substantially below expectations… Main root causes are:
- Lack of (useable) Data (it would work great but the based data is not reliable…)
- Ill adapted tools & analytics (enabling to set the wrong price more effectively)
- Acceptance / Usage issues (It works great but the sales force does not believe the results..)
- Failure to adapt the processes (we’ve always managed pries that way…)
- Management by numbers (only): (pricing by looking in the mirror or without the required ‘qualitative complements)
All too often companies are insufficiently prepared to make good use of the potential offered by the Pricing Software or they rely solely on the software & hope to get results when significant change management are also required on Culture, Processes, Controls and organization, in order to achieve results.
Our experience is that companies aiming to improve their pricing capabilities / to climb up the Pyramid of Pricing Excellence should really view as a real change in their ways of working affecting all key aspects of the organization. Pricing Software/tools can play an important part (particularly at certain stages of the pyramid), but as a component of a larger change management project
Based on the work conducted in support of clients wanting to deploy Pricing software, PriValEdge has developed a structure & effective approach adapted to the various stages of Pricing software selection & deployment
- PriValEdge will initially conduct a Diagnostic to de-termine what must be done to ensure the Readi-ness of the Organization for a Successful Implemen-tation and then work with the Company in making any changes required (process, people, organiza-tion, …)
- PriValEdge will prepare Requirements Documents to ensure that all of the stakeholders have input into the Process and that the Organization has a complete & prioritized description of the needs & functionalities required.
- The requirements documents serves as Base for systems RFP
- PriValEdge will work to prepare the RFI/RFP and select the appropriate software vendors to invite into the Selection process.
- PriValEdge has attended every major software con-ference and met 1:1 with all of the major vendors, enabling us to provide a unique perspective on which software is most suited to organizations needs.
- Once the Organization has selected the vendor, the hard work begins.
- PriValEdge has deep expertise in helping companies successfully implement their software investment.
- We will work alongside your organization through every step of the process to ensure a smooth & successful implementation.