Digitization, the IoT and Industry 4.0 are driving unprecedented shifts in global economics. At a personal level we see these new innovations emerge into our day-to-day lives. At an organisation level, the journey started already a few years ago with revised strategies and go-to-market models. Over the past recent years, companies have found themselves in a race to find more value. Value to drive strategic imperatives needed to react to changing market conditions. There are many ways to drive more value. Many of them like cost out, cutting R&D, just in time supply have all been done. So what are the alternative options.
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The world is changing. Disruption is around us. This presentation highlights the types of disruptive force businesses regularly face and discusses the impact of an exponential increase in business complexity. The recent developments in technological advances have exacerbated the forces of disruption requiring businesses to pay closer attention to their business models and value propositions.
Digitalization will reshape the industry. According to Simon-Kucher’s Global Pricing & Sales Study over 80% of all companies have invested in digitalization initiatives in the past three years. 75% of those efforts were focused on increasing the top line, yet only 23% of all companies have seen an impact. Does your company use its full potential?
Any Price and Margin improvement program should yield value.
BCG research and experience shows that higher and more sustainable value creation is achieved by upgrading the capabilities of individuals and the entire organization through Enablement.
Digitalization requires new capabilities, both technically as well in how we work together.
Best ‘Pricers’ have understood that and achieve superior results by acting accordingly.
Enablement provides the right lenses for every Price and Margin driven transformation:
- Capabilities to win
- Better Pricers
- Next-level business platforms
Pricing can be pretty straight forward on simple deals and value capture recognized. Yet larger deals are more complex – significant value can be lost. A view of the tools and techniques being deployed at Corning Optical Communications to maximise value capture on large deals. May touch on gamification.
Transformational Change Imperative
Value and Pricing Transformations are often slowed down or impacted by the lack of mindset change across the organization. To make changes irreversible, the development of a value mindset across the organization is essential. Institutionalizing a growth mindset for value ensures assimilation of pricing and value practices as part of the deployment of new strategies and tactics. But what is a mindset and how do you change it? How do you operationalize best practices to create and develop a value mindset?
We live in an iPhone, Uber and Amazon society and the pace of doing business will only get faster. No longer can B2B businesses expect to compete while being so difficult to do business with. In this session you will learn the importance and the opportunity to unleash your data to numerous sales channels to drive sales, profits and market dominance.
Race to Value
Tata Steel Europe has made progress in pricing amidst an increasingly dynamic and transparent global steel industry. Phil Checkley reflects on how trends in customer behaviour, digitisation, transparency and sheer pace of change in the industry create new, as well as perpetuate old, challenges in pricing steel and how Tata Steel is responding to those challenges, by building on achievements to date and embracing new approaches.
Digitization, the IoT and Industry 4.0 are driving unprecedented shifts in global economics. There is significant opportunity for businesses across the entire lead-to-cash cycle. Vendavo recognises the importance of these changes and is reacting to support our customers in their Race to Value. David and Bruno will share their understanding of these market changes and how these changes are influencing Vendavo’s vision for the future.
Gala Dinner @ Palais Coburg
Pricing as the main profit driver has been a hot topic the last decades moving focus steadily from administrative to tactical and more strategic into being a real organizational challenge. The debate about where pricing should be placed in the organization have been discussed at length and have seen it being moved from product management to finance to marketing, depending of the organizations pricing process maturity. Over the past years there has been an increased focus on linking pricing closer to sales for the two departments to work closer together to ensure that value based pricing strategies are carried into real customer focused value based selling and optimized sales force effectiveness. This key note will focus on the importance of pricing and sales working closely together to ensure the successful implementation of a joint powerful pricing and sales strategy.
Companies selling B2B with a high level of customer negotiation, will tend to manage their pricing strategy via List prices, building discounting policies, and control and approval processes to ensure pricing discipline from Sales. Operating ‘norms’ tend to build over time between; those setting the list price and strategy; the Sales teams negotiating price, and the price approval ‘gatekeepers’ applying the policies and exception pricing. When a change in strategy is required, these operating norms can be difficult to change. In addition, these three teams can tend to be remote from each other, and consequently those driving a change in pricing strategy, can often struggle due to that remoteness, and a lack of alignment and tools with the Sales teams. This presentation will focus on how DellEMC approached this challenge, via organisational, sales compensation, and system and tool transformation.
A fun overview of the habits of pricing teams… with a message that the habits need to be broken.
Restate: We know the world is changing. We know that companies are in a race to find more value. Pricing needs to strengthen its position – and it can only be through value contribution – governance is not enough. Cost centre v Profit Centre – what are you? How are you perceived. Value is captured at the point of sale. Marketing doesn’t close deals – it’s always about Sales. Can you carry a number? If not, why not?
Companies nowadays look at upgrading their pricing capabilities, both skills and infrastructure, to unlock value. Given the market pressures companies have, management wants to turn the value potential into bottom line in the fastest way possible. Following a structure that spans across industries helps both project managers as well as senior management improve the success probability of major pricing projects. We look at a 5 step approach to speed up the returns and increase the quality of the value realized.