Pricing Practitioners: Are you winning the data intelligence game?

PPS Fall Session to Showcase Intelligent Data-Driven Pricing Strategies

Today, commercial pricing success demands new ways of managing data. Pricing organizations are tasked with managing increasingly large and complex data sets coming from diverse sources that change rapidly. As a result, there is a failure to operationalize pricing strategy over a long-term horizon. Pricing organizations can no longer rely on spreadsheets, custom software tools, and empirical observation to properly manage the complexity and challenges on the road to creating sustained success.

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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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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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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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