There is no denying that pricing is the most complex discipline in an organization. However, your customers do not care about your complexity. They do not want to be on the receiving end of it. They have options and will clearly move on to another vendor. So how do you manage the pricing complexity that is increasing daily in these changing market conditions?
Enjoy this throwback article from 2020, recently updated for current context, and one of the most popular Zilliant articles to date. It details how companies tend to shortchange their pricing capabilities by conforming to the limitations of their aging ERP (Enterprise Resource Planning) system, and how a real-time pricing engine offers a way out.
This essay focuses on eight tips that will set you on a path to building organizational capabilities through an outstanding pricing team, which improves not only the bottom line but the combined abilities and contributions of each of the major functions in the organization.
In this article, the authors posit that the term “pricing” does not do justice to the nature and extent of the work done by professional pricing teams, and suggest it is time to rethink the word and expand it to formally include value management and other peripheral activities which are increasingly becoming part of the functional scope.
In this article, Stephan Liozu, PhD, CPP, presents best practices for initiating an organizational transition towards value-based pricing.
All it takes is a cursory look at the news to find plenty of examples of the pricing issues of well-known companies being covered in the public sphere. These examples can help us to determine which pricing concerns are most important to management. While any pricing concern could be most important to a given company at a given time, there are a few recurring themes across industries.
One of the business impacts clearly demonstrated during the COVID-19 crisis is that, due to a combination of the pandemic’s economic impact as well as the accelerated rate of commercial digitalization, Commercial excellence 1.0 is dead. Long live commercial excellence 2.0. This new version is fast, furious, focused on impact, grounded in pricing science, and leveraging technology for efficiency, as the author explains.
In this article, the author outlines ten common reasons that strategic pricing projects get off track and what pricers can do to anticipate and prepare for the possible scenarios.
In pricing, what is the goal? Is it to increase profits, revenue, or some other metric? The obvious answer would be profit optimization, yet business experience repeatedly demonstrates that this is not necessarily the case. In this article, the author examines how varying methods of corporate valuation affect and drive the goals for pricing within various organizations.
This article addresses the following question: what makes a modern pricing organization today? According to the author, it is a combination of architecture (legacy systems vs. cloud platforms), strategy (pricing strategy development, governance and revenue models), science (data science literacy and democratization) and deployment (execution, scalability and speed).