The Pricer’s Four-Step Guide to Tariff Response

Not to fear, enterprise-class pricing software is here

With the latest round of tariffs going into effect last Thursday, many companies are turning to their finance and pricing teams to provide a strategic response that maintains profitability without disrupting demand. To help navigate the complexities of tariffs, Vistaar has put together a four-step guide that allows finance and pricing teams to be nimble, assess the ever-changing pricing landscape, and empower leadership to quickly develop an optimal pricing response consistent with existing pricing strategy.

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How Well Does Your Pricing Organization Learn From the Field?

Unlock latent potential with price experimentation

With every price quote or posted price, there is an opportunity to learn about the market, and in turn, improve pricing. Yet, a tremendous amount of the information is not captured, systemized or utilized, neither by people in pricing nor the algorithms they employ. The potential in learning from the untapped sources of field information can be tremendous.

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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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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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