Today, as companies begin to emerge from the global economic crisis, they must turn to the most effective yet overlooked driver of profits: the active management of pricing. Companies that transform pricing from a tactical process to a strategic one can reap tremendous financial benefits.
In order to leverage price management and optimization to drive profits, companies should adhere to selected best practices, including:
- Fine-tuning prices for all products and services to meet the latest competitor challenges and market conditions
- Analyzing historical and live transaction-level data as well as data already residing in your enterprise solutions to gain insight into profits and improve margins
- Developing and implementing effective cost-to-serve strategies to pass charges on to customers based on their customer class and their profitability impact
Download this whitepaper to learn innovative strategies to increase revenues while protecting margins.