Unprecedented market dynamics are driving increased demand for aftermarket parts and services, spurring new growth and revenue opportunities for a wide range of businesses operating in the automotive aftermarket industry. Yet this increased demand comes from buyers who have increasingly more consumer-like preferences such as digital commerce and online transacting. Vendavo is the market leader in working with Automotive companies to modernize their quote-to-cash processes and deliver a superior customer experience while optimizing profitability.
Auto parts Ecommerce share by 2023
Equipment makers expect to nearly triple their offering of outcome-based or guaranteed pricing contracts by 2024
Bain & Company
Increase in the average period of vehicle ownership for new and used vehicles in the last ten years.
Business Challenges of Automotive
- Vehicle ownership duration is increasing and fewer new cars are being purchased
- Parts and services are increasingly being sold online
- Lack of relevant customer context for deal negotiation
- Lack of single integrated view of the customer
- The automotive marketplace is changing, 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 ability to adjust to or meet changes in the market
- Sales teams are struggling with executing deals appropriately to acquire and retain customers
- Lack of integrated eCommerce and direct sales commercial processes
- Dynamic changes in automotive market require dynamic pricing capabilities
- Limited measures for profitability visibility across the automotive value chain
- Your commercial processes struggle with getting the optimized, winning price in front of the customer quickly
- Volatility of supplier costs, volumes being sold, and costs of goods sold obscure how well your pricing and profitability strategies are performing
Commercial Excellence for Automotive Industry
The top brands in the world are setting course for maximum margin potential with Vendavo.
Ford Customer Success Story
Jim Azzouz, Manager of Global Revenue Management, Ford Motor Company, Aftersales Division, discusses how the aftermarket division strategically integrated pricing with the lifecycle of the customer by leveraging Profit Analyzer, and Price Manager globally (550 users, 150 countries, 60 currencies). Within 6 hours of user acceptance testing, Ford began to recognize return on investment. Jim shares how Vendavo delivered systemic standardizations for their pricing strategy while identifying margin leakage, sub-optimal discounts and competitive movement.
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Global Commercial Excellence in Automotive