Win More Deals and Maximize Your Profit
Price execution is the process of enforcing the pricing strategies devised by a company, to meet its strategic objectives. It generally consists in:
- putting the pricing decisions into action: displaying the pricing guidance to sales, in the context of the negotiation, with all relevant information to support Sales in achieving the best possible negotiation outcome,
- ensuring that the intended pricing strategy is effectively carried out across the organization: measuring the gap vs. the recommendations and implementing collaboration/validation workflows.
Effective price execution is critical for achieving business objectives, maximizing revenue, and maintaining competitiveness.
Quote Management is therefore a pivotal process for successful price execution.
Get 360° visibility on your deal flow
Thanks to Quote Dashboards and Notifications, management can control quote activity, time-to-quote and time-to-close, exceptions to the pricing policy, win rates and achieved price and margin per type of customer, type of deal and sales teams.
In-context Pricing guidance
Give your sales teams the right tools to reach commercial excellence and build a long-term relationship with your customers. With Open Pricer, they will get insights and guidelines to lead successful negotiations, find the best selling solution with speed, flexibility and accuracy and identify opportunities and risks in order to maximise customers’ life-time value. Unique recommended price point (with cheaper or higher value offers) or price range depending on the sales channel, type of deal, number of negotiation rounds. Each recommended price point comes with a score (from 0 to 100) that reflects the quality of the sale at this price. Flexibility to customise the offer for complex deals within pre-defined ranges (discount for specific products/services or rate cells). Approval rules may be based on the above criteria, user role and more.
Granular shipment profile simulation & profitability calculations
When negotiating the price of new customer agreements, the detailed transaction profile is usually not available and the customer only provides a high level profile. Transaction Profiler identifies similar customers and use their actual transaction profiles as predictors. This approach is more accurate than an average approach to forecast the profitability of a contract and limit the uncertainty risk. It is also possible to define the transaction profile through direct entry or file import of products and services, quantities and other attributes or by retrieving the historical transaction profile of an existing set of customer’s billing accounts.
Embedded Price Approval workflow / eSignature
When negotiating the price of new customer agreements, the detailed transaction profile is usually not available and the customer only provides a high level profile. Transaction Profiler identifies similar customers and use their actual transaction profiles as predictors. This approach is more accurate than an average approach to forecast the profitability of a contract and limit the uncertainty risk. It is also possible to define the transaction profile through direct entry or file import of products and services, quantities and other attributes or by retrieving the historical transaction profile of an existing set of customer’s billing accounts.
Quote / Contract repository
1 source of truth
Quote: Stores accepted and declined offers including expected transaction profile, proposed rates, outcome status (accepted, unaccepted, stand-by, etc.) Full visibility on deal flow and traceability of decisions. The stored transaction profile is used for compliance monitoring.
Contract : Retrieve negotiated client agreements whenever you need to update them.
Re-negotiate without need to re-enter the existing tariff of the customer.
For agreements negotiated prior to the implementation of OP, this requires import of customer tariffs from the billing system.
Expand your e-commerce capabilities
Supercharge your negotiation process and allow your customers to get access to your services 24/7.
Smart Quote can be easily integrated with your e-commerce channels (own web site and partner channels) to deliver instant and consistent prices. Your customers can also access Smart Quote through your portal and using our APIs to make self-service quotes, follow-up their activity and receive special offers.
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Rating Engine
Calculate the applicable price for a given transaction and simulate revenue for a set of transactions corresponding to a contract, a customer or a segment of customers. Benchmark different pricing models in terms of resulting revenue. Calculate rebates and surcharges based on revenue and other metrics. Apply dynamic pricing rules.
