More companies have begun the discovery process on how pricing software provides a profitability lever for their businesses. They’ve identified pain points in their organizations that led them down the discovery path, and they’re looking to quantify the value – the level of profitability they’re able to add to their organizations’ bottom line. It’s a tall order. And it’s one we work on every day here at PROS.
For those in the early stages of their investigations, we developed the PROS Online ROI Valuator. Anyone can use the Valuator to generate a high-level estimate of what they could achieve with improved pricing capabilities enabled by a PROS solution. To date, more than 650 B2B companies in manufacturing, distribution and services have used the Valuator to estimate the financial impact of improved pricing and price execution on their businesses. To generate an estimate of value, respondents provide their industry, annual revenue and the pricing capabilities they need to solve their challenges.
Large to small, companies with revenues from more than $5 billion to less than $750 million have engaged the Valuator. While you might expect the results to vary based on the size of the businesses and the areas for which they’re looking for help, results show commonality among the manufacturing, distribution and services companies with these capabilities on most respondents’ wish list:
- Modeling the impact of prices changes before they’re made
- Automating the collection and processing of pricing data
- Profiling and segmenting customers to identify and capture additional business and profits
The Valuator also identified additional high-on-the-list challenges these organizations are attempting to solve:
- Applying segment-based pricing strategies for ‘high-visibility’ products vs. ‘slow-moving’ products
- Streamlining price administration processes
- Standardizing pricing processes and metrics across the enterprise
- Providing sales reps with pricing recommendations to win more often
If you’re wondering what world-class pricing and pricing execution capabilities could be worth to your company, I invite you to use the Valuator to find out. You can receive results on the spot, or we’ll provide a customized report and detailed breakdown of the specific value that adopting pricing best practices could mean to your organization.
Let us know how you size up. While it’s the business we’re in, we’re confident you’ll find it’s worth your time.