Vistaar Price Management Solutions for Business Services
In the past, pricing for services has been given less attention and has fallen under less scrutiny than pricing for physical products. However, given the growth of business service outsourcing and the trend for product-oriented companies to add services as a competitive differentiator, the sector has become an important part of the global economy – and a source of increased profit for companies. Despite this, companies often don’t identify the full range of service-related opportunities that are available to them. They also struggle to establish and enforce appropriate pricing policies across their portfolio of services.
Vistaar software is uniquely equipped to handle the inherent complexity of services pricing. At the heart of the Vistaar system is a collaborative and common data-driven price and revenue management platform, which provides a single version of the truth across the organization from which all pricing decisions and actions flow. Here are just a few of the ways Vistaar software can help:
- Pricing of value-add services to increase attach rate and optimizing revenue and margins
- Setting and managing resource rack rates for Time & Materials (T&M) projects
- Optimizing list prices for thousands of resources with varying skills, locations and cost basis
- Using scientific segmentation and context-aware analytics to price and negotiate projects
- Tracking financial metrics such as resource mix, planned vs. actuals, expenses, recognized revenue, etc.
- Performing scenario analysis and applying risk-adjusted pricing to manage large down-side losses particularly for long-term, fixed-priced managed services contracts