Pricing and Selling Solutions for Aftermarket Parts
Changing market conditions, value chain impacts, resource reductions, risks, and price volatility demand business agility within aftermarket and spare parts companies or business units. Digitize and modernize your pricing and selling processes with Vendavo.
Whether you’re part of the automotive aftermarket, industrial aftermarket, or channel aftermarket, we’ll help you grow profits and revenue so you can keep providing spare parts, accessories, and components to your customers.
Heavy Duty Truck Parts Distributor Optimizes Prices and Delights their Customers with Vendavo
TruckPro, one of the nation’s largest independent distributors of heavy duty truck and trailer parts, distributes more than 300,000 parts from over 200 industry-leading manufacturers to over 30,000 customers. Discover how Vendavo helped this heavy duty truck parts distributor establish a sophisticated pricing discipline.
Embracing the Wave of Digitalization to Fundamentally Change Business Operations
We are deeply committed to understanding the complexities of the aftermarket and spare parts of automotive and industrial organizations so we can build stronger pricing and selling solutions. For more than two decades, we’ve served leading manufacturers and distributors. We’ve built upon our experience to improve our products and our processes.
If you’re in the automotive aftermarket and spare parts business, you need to find ways to manage your discount codes and optimize local pricing all while managing the complexity.
Easily setting deal and net prices and harmonizing pricing across regions and countries is mission critical for those in the industrial aftermarket and spare parts sector.
Vendavo empowers you to unify your pricing processes, quote better and faster, analyze your pricing data, and drive higher margins despite any disruption or changing market conditions.
60-80%
of parts are not priced adequately to match market conditions and company strategies
Growth Opportunities and Profitability Through Organizational Alignment
Kalle Aerrikala, Senior Business Consultant at Vendavo gives a keynote at Copperberg’s 2022 Power of 50 event in Stockholm. Kalle covers the historical journey of aftermarket service business within manufacturing, shares insights from Copperberg and Vendavo’s 2022 Aftermarket Survey, and unpacks the power and responsibility of the pricing role to connect to and align with the entire organization.
Leading Solutions for Common Industry Challenges
Challenges
- Evolving customer needs require dynamic pricing capabilities
- Visibility into profitability is lacking across the product lifecycle
- Low understanding of perceived customer segment value
- Commercial processes are not efficient for getting optimized, winning prices in front of customers
- Pricing efficiently and accurately across hundreds of thousands of products/SKUs is challenging
- Arduous workflow processes do not provide the proper awareness of low or negative margin transactions
- Complexity with regulations and rules need workflow, automation, and audit abilities
Challenges
- Cumbersome commercial processes result in slow approvals and time to quote
- Parts and services are increasingly being sold online
- Lack of relevant customer context for deal negotiation
- Lack of single integrated view of the customer
- Meeting new, more demanding customer expectations
- Competitive price pressure is increasing
Challenges
- Lack of understanding about the importance of aftermarket business to the overall profit and revenue of the organization
- Aftermarket spare parts business model evolution and the aftermarket world is going online
- Limited understanding of how to appropriately treat customers to match value offered to customer willingness to pay
- Limited profitability and performance visibility
- Lack of value chain digitalization
- Supply and demand disruptions
- Lack of integrated eCommerce and direct sales commercial process automation
Don’t Take Our Word For It
The Vendavo suite allows Dynapac to systematically monitor compliance to our pricing strategy, merge up-to-date data from different sources for faster and data-based decisions by analysing increasing amounts of data in shorter intervals for systematically identification of [deal] success and lost sales, and to set an optimal price level to optimize profitability.
Honestly, we have limited resources, so we thought it was more important to, when we rolled out to a store, to do it right… the phased approach really helped us focus in on, pricing… we have thousands and thousands and 10s of thousands of SKUs. Think about all that data and all the ways you could look at it and there’s lots of people you need to have conversations with [to get it done right] and put it into bite sized chunks so that we could be have a better quality roll out for the stores.
[What I like best is the] ability to have an integrated view of my business, in real time, to make more effective business decisions to improve my business and business strategy for the long term. We have an integrated pricing and analytics solution which allowed us to use competitive data to understand our market position over time – Instant data analytics!
