Price Optimization Requires More than Spreadsheets and “Gut-Feel”
Attaining higher prices without deterring orders or driving business to competitors is a challenge that’s hard to manage with the limited “business snapshots” provided by historical reporting tools and spreadsheet analysis.
What is required is a solution that’s robust enough to organize and accurately represent the volumes of data flowing into the organization everyday. It also should be intelligent enough to provide the insights required to understand where and how to adjust pricing levers as market dynamics change.
Combine Pricing Science with Business Expertise
Vistaar’s solution for price optimization includes powerful price recommendation techniques that work hand-in-hand with our best in class analytical and planning capabilities. The solution is uniquely suited to address the complexities associated with B2B pricing - large portfolios, highly configured and/or bundled offerings and datasets that are often imperfect and maintained in disparate sources.
Vistaar’s price optimization solution leverages the rigor of pricing science and statistical techniques to help business users identify specific pricing levers that will have the greatest impact on results. Vistaar’s price optimization comes complete with a library of pricing techniques; many of which are unique to the solution, which can be applied as each situation requires.
The Vistaar solution empowers business users to see the forward-looking impact of their price changes through “what-if” scenarios before the updates are published to the field. Additionally, people from across the process can see the forward impact of selecting various combinations of scenarios. This type of analysis is invaluable to the review and approval process, as it provides the visibility required to make fast, impactful price updates with confidence.
The Bottom Line is Improved Profits
Vistaar’s approach to price optimization considers the nuanced and non-linear nature of B2B pricing decisions. In our solution, system-generated price recommendations are just one part of a broad set of analytical and collaborative planning tools that enable business users to set and execute price plans that are aligned with the organization’s operational and financial objectives.
See for yourself what sets Vistaar apart from other approaches to price optimization. We'd love to show you. Call us at (973) 434-6196 and get started immediately.
