Vendavo, a leading provider of commercial excellence solutions, today announced it has been named a Leader in the IDC MarketScape: Worldwide B2B-Focused Price Optimization Applications 2018 Vendor Assessment (doc #US44517118, December 2018).
To meet the growing demands of today’s digital B2B consumer and maximizing margin opportunities, organizations must determine and deliver optimal prices across every deal. Enterprises rely on intelligent pricing solutions for dynamic, real-time price optimization driven by local market conditions and competitive intelligence aligned with a customers’ willingness to pay.
“Setting the right price, at the right time, for the right customer is increasingly critical for meeting the growing demands of today’s customer,” said Bruno Slosse, Vendavo President and CEO. “But price optimization is never a one and done exercise. To succeed, you must continually consider a host of factors that far exceed the cost of goods and we are very pleased to be recognized as a leader in this important category.”
According to the IDC MarketScape report, the use of price optimization applications will grow for these reasons: “value is demonstrable and payback is short; competitors are going to use them against you; the amount of rich customer data is increasing; integration with upstream/downstream systems (e.g. CRM an ERP) is becoming re-standardized as easier and quicker, as more systems run SaaS and more vendors are creating prebuilt connectors to speed up the process and lower issues and the use of machine learning will create better models faster which leverages more data and generates prescriptive insights.”
Recognized within the new IDC MarketScape report, the Vendavo Commercial Excellence Platform consists of a suite of pricing optimization, guidance and analysis tools, including Vendavo Pricepoint, Profit Analyzer, Segmentation Manager and Intelligent CPQ. The IDC MarketScape called out the following Vendavo strengths:
- Comprehensive pricing platform: Vendavo is focused on creating an integrated, automated (ML/AI), and comprehensive pricing platform for B2B industries with products focused on key pricing use cases (optimization, management, sales guidance, CPQ, price/profit analytics).
- Analytics and segmentation: Customers like Vendavo’s pricing analytics and segmentation tools, which are foundational to price optimization. Segmentation is machine driven and then the pricing analyst can tweak the result, which is preferred by customers. They also liked how transparent the pricing models were displayed.
- Negotiated and dynamic pricing: Vendavo supports both negotiated (price guidance via salesperson) and dynamic pricing (automatic price changes via ecommerce) for situations where products are sold over multiple channels.
To read a complimentary copy of the IDC MarketScape for Price Optimization Applications, download the report excerpt here.