Global Manufacturer of Fluid Handling and Separation Solutions Executes Value-Based Pricing Strategy with Vendavo Pricepoint
Discover how one global manufacturer of fluid handling and separation solutions increased customer satisfaction and efficiency through a value-based pricing strategy with Vendavo Pricepoint.
Highlighted Business Outcomes
Better Strategy Execution
Standardized method for executing value-based pricing strategy
Deeper Pricing Understanding
Consistent, easy to explain prices and value to sales, marketing, and other teams
Central Price Setting
Centralized platform for setting international reference prices and serving business units
Navigating Volatile Markets
Like others, this global supplier must adapt to a volatile and changing market, fluctuations in raw material prices, and evolving customer expectations. The supplier needed to alleviate competitive pressures, defend prices in new markets, drive more value out of its products, and improve its financial health. Pricing is a core focus to handle these business challenges, so the company turned to Vendavo for help.
Our prices play a key role in demonstrating our value. Pricing is at the center of our business. That’s why it’s so critical to have strong leadership and powerful solutions for setting our prices.
Centralized Price Management
Vendavo Pricepoint empowers the pricing team to execute its value-based pricing strategy, create a price waterfall, and set and update prices in a standardized way. The onboarding process with Vendavo was smooth, with a successful rollout in a specific business unit before being standardized across the organization.
The pricing function must ensure sales, finance, marketing, and other teams across the organization understand value propositions. The Pricing Tools and Developer Manager supports the entire organization and business divisions with pricing methods, trainings, and analytic capabilities. Vendavo Pricepoint allows the Pricing Tools and Developer Manager to set international reference prices and execute the value-based pricing strategy.
Increased Customer Satisfaction
Vendavo has helped the global supplier execute on its pricing strategy by providing a centralized platform for all products, allowing for more efficient price management and analysis. It has also enabled the company to better understand and meet the needs of their customers, leading to better relationships. Overall, Vendavo has been a valuable partner for the global supplier in implementing and executing their pricing strategy.
Having a tool that allows you to set prices with algorithms instead of manually is a great help for our company. We are using Vendavo to help us create and manage our price waterfall and
standardize our value-based pricing strategy.
About Global Manufacturer
A 130-year-old global supplier of products and solutions for heat transfer, separation, and fluid handling is known for its energy-efficient solutions configured and tailor-made for its customers’ unique needs. The company serves more than 100 industries worldwide, offering more than 3,000 product areas and 500,000 SKUs.
Vendavo Product: Vendavo Pricepoint
Industry: Specialized Products and Solutions