Achieving Pricing Excellence through Data Driven Pricing
What is data-driven pricing
Data driven pricing delivers EBIT impact by leveraging the sea of data available in your organisation today: it requires change, both in data structure and leadership behaviour, building a culture of asking why, specifically why do prices differ?
To realize the full potential of information, organizations must develop data strategies, practice data management discipline, use the right tools and start by asking better questions
You must govern price differences, drive insights across cross-functional teams and align the right people in your organisation doing all the necessary work. Top down strategy should meet bottom up transactional data. An End-to-End pricing process should exist. Data Driven Pricing will only deliver pricing excellence when Leadership is enabled to make the right decisions connecting People, with objective data, clear and consistent analyses and process clarity, all underpinned by a fit for purpose Operating system.
Impact
Regardless of your type of business and where you are on your Pricing Excellence journey, EBIT impact is achievable. R&G helps you implement smarter and faster ways to uncover exactly what’s going on in your Pricing processes based on Digital connections to your existing CRM and ERP system(s). You no longer need to live in a world of unclarity, as data driven pricing gives you the insights that you crave.
Data driven pricing shows you your ‘As-Is’ real process the way it is actually executed, Pricing Excellence creates valuable metrics across ‘Effectiveness’, ‘Efficiency’ and ‘EBIT impact’ so you can see in real time the impact of your decisions, forget about averages and KPI gauges and instantly identify where and what action needs to be taken, with pinpoint accuracy.
As a leading global supply chain consultancy, R&G connects people with data. We guide you to implement the right Pricing strategy using the right data, variance-based thinking and the right tools. Together, we’ll utilise Data Driven Pricing to deliver Pricing Excellence to your organisation.
We have already supported several clients to deliver Pricing Excellence in their organisations. Why not take the survey and see what are the next steps you should take? Click here to take the Pricing Maturity Assessment
Results
- Connects the sea of data available in your organisation via Data Driven Pricing
- Delivers EBIT impact via Pricing Excellence
- Let’s you understand why your prices differ
- Connects Finance, Marketing, Sales and Commercial functions
- Gives you the foundational understanding of your OTC process therefore enabling a greater acceleration into Process Mining