Tariffs: Fighter Pilot Strategies Businesses Can’t Afford to Ignore

Pricing teams that rely on Excel models and manual processes can be overwhelmed with the challenge of optimizing price as tariffs whipsaw cost. An Excel-based response can feel like “bringing a knife to a gun-fight.” Many companies have finite opportunities to change their price in any given year placing even greater weight on the right “weapon” in their pricing arsenal. Therefore, the biggest questions for pricing teams and senior leadership in B2B companies right now are how can we create an effective response swiftly, how can we ensure that the response is consistent with our broader pricing strategy, and how do we safeguard limited opportunities to change prices?

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Sales Organizations Benefit the Most from Pricing Software, Just Ask a Soccer Fan

“It’s in the game.”

The traditional core objective of pricing technology was centered on the identification of the margin leakage. The pricing team operated the software and provided sales with insights to mitigate the margin erosion. Put another way, the software served as a business intelligence support system with considerable human intervention. From the sales person’s vantage point, the pricing software was on the sideline.

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Behavioral Economics Powered by Machine Learning and AI Techniques

A true path to optimized pricing

There is a growing focus among pricing practitioners to use price science to drive pricing decisions. It’s a fabulous trend with many recent innovations in the use of advanced techniques such as machine learning and AI. It is important however to consider behavioral economics because our economic decision making is often shockingly irrational. Naturally, we are not referring to your personal decisions, dear reader, because you are always rational, right?

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Pricing: Does Fortune Favor the Bold or the “Prepared”

With every sales bid, there are new data that can be used to improve pricing. Yet, much of this potential remains untapped. Why? Because data gaps and uncontrolled sales cycle data variables are significant roadblocks. Find out how Vistaar’s leading edge pricing practices and price science techniques can help you overcome the roadblocks. It’s worth the effort because effective use of field sales information can materially improve your deal margin, your win-rates, and ultimately your earnings per share.

Vistaar invites you to attend David Glenn’s presentation at the Professional Pricing Society’s Spring Conference #PPSCHI18 on May 4th. David is Vistaar’s Vice President of Pricing Science and his presentation is entitled: How well does your pricing organization learn from the field?

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Machine Learning – a “Next Level” Pricing Element

For a pricing strategy to be truly successful, it must be a “win-win-win” for sales, marketing, and finance. This calls for a revenue and margin balancing act consistently performed over time. Vistaar’s SmartQuote pricing software enables pricing strategies and tactics to efficiently and rapidly adapt as market conditions change. SmartQuote is powered by advanced machine learning techniques which ensures that your pricing strategy is continuously aligned with market conditions as well as internal financial goals.

Want to learn more? We will be at the Spring 2018 Professional Pricing Society (PPS) conference in Chicago on May 1-4. Visit us at our booth for an update on Vistaar’s SmartQuote, the world’s leading price management software solution.

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