Blog, Pricing

Introducing Vendavo PricePoint Webcast Q&A Digest

By Mitch Lee
September 5, 2018

If you joined us for today’s discussion and demo of the new Vendavo PricePoint, thank you! If you missed it, you can still listen in and see the product demo in our on demand version. And, as promised, here is a digest of the questions asked along with answers from the Vendavo team.

View On-Demand Webcast

 

 

 

 

 

Comment – I recognize all these problems!

A – Yes, and these issues, questions, and problems aren’t new. The ability to improve profitability via operationalized pricing processes has been studied and reported widely for almost 3 decades.

 

Comment – We see that global interactions are greater than ever, so our markets are more sensitive and responsive that ever before.

A – Yes, and that’s why dynamic responsiveness is so important.

 

 

 

Q – “I’m surprised at 2.5x view themselves as having better pricing and only 26% have software – why is that?

A – Gartner has identified three key reasons.

 

Q – How does the integration with back end sales order system like SAP happen at the technical level and also from the functional perspective?

A – The short answer is that we have lots of experience across many systems, on both the front end (CRM, etc.) and back end (ERP). We have developed several APIs for the most common solutions, and of course can work on specific requirements as needed.

 

Q – Are the pricing condition records updated from PricePoint or it is directly integrated with sales orders and the second option may have additional requirements too, right? 

A – It depends on what you have set up – and we’ll work with you to find the most effective approach for your situation. Happy to set time to discuss the details further.

 

Q – Can you override the pricing rule for a single product in a category?

A – Yes, the pricing rules can be at as high or low a level as you need to control the desired pricing.

 

PricePoint Demo

Q – Are we going to go over data and role based entitlement as well?

A – Not in this discussion, but we are happy to set a time do discuss further.

 

Q – Typically, how different or at what range do you see between different price rules for your product?

A – We have a great range of price setting rules. Some companies start with a cost plus approach and then move to market-relevant pricing. Some take the step to go to value-based pricing. Vendavo can support any and all of these choices.

 

 

 

Comment – We see the issues are just getting more complex with online B2C experience bleeding into B2B buyer expectations.

A – Absolutely agree. This is why integrated, enterprise solutions are required – to deliver consistent, transparent, and reliable commercial processes across all channels to market. Especially in an area as complex as pricing and value.

 

Q – Is this a proprietary platform or built on standard software like Salesforce?

A – This is proprietary software. Its purpose built for pricing decisions – but with great capabilities to integrate modules with solutions such as Salesforce to make it easier for your sales reps.

 

Q – Is there 2-way integration with financial systems to leverage pricing data from another system and do planned vs actual comparisons?

A -Yes, if the data is there, it can made available for context in the solution. PricePoint also has great scenario / modeling capabilities for evaluating pricing options and that data can be sent to other systems for further evaluation as needed.

 

Q: Where has PricePoint been deployed?

 

Q – Can you please provide some references from the oil industry with SAP-IS Oil and others as a back end system?

A- Most PricePoint current customers are focused in manufacturing, but there are several capabilities that would serve the oil industry – especially when pricing must be related to, and perhaps even driven by market indices. Vendavo has a long history of delivering value in B2B formula and index pricing, born of deep experience with customers like Chevron, Shell, Dow, Eastman, DuPont, Chevron, Phillips Chemical, and Borealis, among others.

  • dynamic pricing , PricePoint , pricing , SAP integration

    Mitch Lee

    Mitch is a Profit Evangelist at Vendavo with 25+ years of experience in the technical, operational, marketing, and commercial arenas of the process industry. Prior to Vendavo, Mitch was with BASF and Orica in product marketing and business management, driving operational optimization, pricing excellence, and margin improvement, as well as personal engagement in high value sales negotiations. Mitch also has deep experience with raw materials supplier portfolio management having negotiated large scale and long-term agreements with global suppliers.