April 16, 2020
Maximizing margin has never been more critical as businesses around the globe face a serious economic downturn. To help companies measure, monitor and manage pricing challenges and prepare for acceleration into margin recovery, Vendavo, a leading provider of commercial excellence solutions, today launched the Pricing Solutions Benefits Calculator. The free, interactive tool provides a custom report that shows a pricing solution’s expected value range from conservative to full.
“Of the many levers companies could lean on to stay profitable, pricing is far and away the most powerful,” said Mitch Lee, Profit Evangelist, Vendavo. “Independent, third-party research tells us that a 1% price increase yields a 8.7% increase in operating profits. The absence of strategic, data-driven pricing decisions means you’re leaving a lot of profit on the table.”
The new Benefits Calculator is a simple way for pricing and sales professionals to visualize just how much improvement an enterprise-level pricing solution can deliver across their business. Using historical statistics for companies who use a pricing solution and input on ten simple questions, the new assessment tool instantly provides organizations with a total annualized expected value of a pricing solution.
It also demonstrates value expected across four business process areas:
- Price Management
- Price Optimization
- Deal Management