Pricing and Selling Solutions for Automotive Manufacturers
Market turbulence, supply chain failures, resource reductions, and price volatility demand commercial agility for automotive industry companies, whether they are OEM, Tier 1, aftermarket, or any other value chain partner. Digitalize and modernize your pricing and selling processes with Vendavo.
No matter where you sell, what you make, or the challenges your business faces, Vendavo has solutions for automotive manufacturers to grow profits and revenue successfully.
Price Excellence: A Road to Monetizing Innovation
Why do some ideas flourish while others flop? Our eBook, Price Excellence: A Road to Monetizing Innovation explores the Fiat Chrysler Automobiles and Porsche stories and illustrates how price excellence is a critical differentiator in monetizing innovative products or services.
83%
of auto executives are confident that the industry will achieve more profitable growth over the next five years,
60-80%
of parts are not priced adequately to match market
conditions and company strategies
Leveraging digitalization to fundamentally change how your business operates
We understand the complexities of automotive and industrial organizations. We’ve been deploying enterprise ready solutions for pricing and selling for more than two decades, serving the leading manufacturers and distributors. We’ve built our experience into our products and our processes.
If you’re part of the automotive industry, you need to find ways to manage your pricing strategies globally while optimizing guidelines for negotiations – despite inherent 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.
Easily setting deal and net prices and harmonizing pricing across regions and countries is mission critical for every business in the automotive sector.
Vendavo empowers you to simplify your pricing processes, quote better and faster, analyze your pricing data, and drive higher margins despite market complexity and economic disruptions.
Leading Solutions for Common Industry Challenges
Challenges
- Evolving customer needs require dynamic pricing capabilities
- Across the product lifecycle, visibility into profitability is lacking
- Low understanding of customer’s perceived value of combination of products and related services
- Commercial processes are not efficient for getting optimized, winning prices in front of customers
- Pricing efficiently and accurately across product offerings is challenging in volatile markets
- 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
- The importance of agile pricing and selling processes for the overall profit and revenue of the organization
- Automotive business model evolution as customers demand omnichannel buying options
- Limited understanding of how to appropriately treat customers, matching value offered to customer willingness to pay
- Limited profitability and performance visibility across the organization
- 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
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!
“The current environment has been really tricky. If we didn’t have the flexibility enhanced by this new technology, it would have been very difficult to keep up with the rising product costs, SG&A inflation, and supply chain issues.”
“The power behind this technology is that we are using insights from the past to inform the future. We aren’t setting prices out of a brand new black box, we are setting prices that are based on historical data. This has helped tremendously with adoption in the field.”
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!
“Partnering developers with people that sell truck parts could be a challenge. But the transparency, clarity, and priority-setting from Vendavo helped us build a strong foundation. They were with us every step of the way.”
Latest Vendavo Resources for Automotive Manufacturers
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