Tag: professional pricing society
Pricers having fun with “howdy to better pricing” at the Vistaar Booth
Many thanks to those who joined Vistaar at the PPS Fall conference in Dallas. There were many interesting pricing topics discussed, with lots of opportunities to socialize. We took note of the topics that surfaced most frequently:
In today’s fast-paced world, rapidly evolving data and software driven strategies are imperative to creating sustained commercial pricing success. Good processes and experienced personnel alone are no longer enough. It is nearly impossible to rely on spreadsheets, custom software tools, and empirical observation to properly manage the complexity of becoming a “data-driven” pricing organization. That’s why it’s more important than ever to not only understand what Artificial Intelligence (AI) and machine learning are but also to learn how to use them for tangible value in data-driven pricing.
Short answer: YES!
Commodity market fluctuations that whipsaw product margins are a persistent downstream pricing challenge.
- Should you take price now, incrementally, or eat the cost change?
- What will your competitors do?
- How many times can you change customer pricing this year?
Get it right or you risk locking your margins into that corporate “unhappy place”.
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?