Vendavo Glossary
The world of pricing and sales is full of acronyms and jargon but the Vendavo glossary is here to help. This glossary is a dictionary of the terminology most commonly used by pricing, sales, and commercial excellence professionals.
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Commercial ExcellenceCommercial excellence is the set of business processes that reside between your back-office ERP system and your front-office CRM. It requires the articulation of what should occur between engaging with the market to make your offer all the way through reaching a commercial agreement with a prospect, partner, or of course, a current customer, and optimizing that process for efficiency, accuracy, and profitability.Learn More >
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Commercial TransformationCommercial transformation is the business process of making fundamental organizational changes to marketing, sales, and pricing capabilities to provide actionable strategy and focus that drives revenues, increases margin, and grows your business.Learn More >
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Configure Price QuoteConfigure Price Quote (CPQ) software simplifies the process of generating customer quotes and makes them more effective. CPQ software is usually an extension to your existing Customer Relationship Management (CRM) platform, giving the software access to key details on your customers. CPQ software collates these details and uses them to determine the best way to configure products for each customer, what the optimal price is, and automatically generates a quote. Using the software offers various benefits over doing the task manually.Learn More >
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Customer Profitability AnalysisCustomer profitability analysis is a method widely used by companies hoping to gain a better understanding of how much revenue each customer, or group of customers, generates. It enables a business to understand the true value of its customers, through careful evaluation of their profitability.Learn More >
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Deal ManagementDeal management is the process of defining specific deal parameters and using them to negotiate and secure deals. By practicing effective deal management, businesses can ensure their sales teams are taking a wide range of important factors into account when working on deals, so that beneficial deals are secured quickly and efficiently.Learn More >
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Deal Price GuidanceThrough historical trends and business guidance you can assign the right price for your products, segments, and deals at the right time. Sales reps can review and use the target, stretch, and floor recommendations.Learn More >
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Deal Price OptimizationThe ability to use historical sales data, Artificial Intelligence (AI) / Machine Learning (ML), and business expertise to produce the most effective pricing based on segmentation and discounts to enable sales teams with improved prices and negotiations.Learn More >
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Margin ManagementMargin management measures and increases a customer’s expansion over time. All the processes and tools that come under the umbrella term should be aimed towards long-term, sustainable profit growth. Doing this well is not only a matter of capitalizing across market conditions, but it also relies on a willingness to reframe internal conversations to be around margins as opposed to only revenue or volumes.Learn More >
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Market PricingMarket pricing is a strategy used to set prices according to current prices in the market for the same or similar products or services.Learn More >
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Predictive Sales AnalyticsPredictive sales analytics uses algorithms, patterns in historical data, and machine learning to anticipate future outcomes as they relate to sales. Heavily reliant on data sets, its power ultimately derives from the accuracy, depth, and breadth of the data it is fed – and this is why it is becoming a key player in the increasingly data-led field of B2B sales.Learn More >
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Pricing AnalyticsThis analytical software is often used to help companies gain a more thorough understanding of how profitability differs for a range of different pricing options and how far pricing optimization could improve the potential profitability of products and services.Learn More >
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Pricing EfficiencyPricing efficiency is the assumption that a price is reflective of everyone in the market being in possession of all available information. It is also using smart process decisions to minimize the inefficiencies that are cutting into profits.Learn More >
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Pricing MarginPricing margin – or profit margin – is the difference between the cost of an item and the price at which it is sold. The aim, therefore, of most businesses is to make as much margin as possible while ensuring prices stay competitive.Learn More >
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Pricing SoftwarePricing software is a commercially available software application that automates pricing analytics, optimizes prices, and executes pricing changes to help organizations make more efficient and effective pricing decisions.Learn More >
