"Why choosing the right pricing technology component is important"
Pricing insights - October 2009
Welcome to the third edition of the quarterly Pricing newsletter published by Deloitte. The purpose of this newsletter is to share some of our insights and experiences on specific topics related to Pricing. Enjoy the reading.
Because we recently received many questions on this topic (more analytics to discover inconsistencies, more granularity on pricing? Need for the right info, at the right time, distributed to different points of contact?) we decided to dedicate this third newsletter to why choosing the right pricing technology component is so important to be able to capture the value that is still on the table for your company. Companies that can leverage their data analysis capabilities have a competitive edge in sales negotiations and marketing effectiveness. The same applies for the pricing space. The power of pricing comes from a good pricing strategy, translated in optimized price setting and swift price execution. In general this mix will only be successful when a technology component enables this. In its May 21 report Forrester research recommended Pricing & Profitability Management Technology as a key driver for value: “CIOs: Suggest Pricing and Promotions Technology to Drive Value.”.
But the key question remains: What price technology is needed to capture the value for my company?