Price Align provides dynamic price modelling to drive your performance
Current pricing practices create a high degree of risk, customer dissatisfaction & leak margins and many face challenges such as; margin erosion, loss of market share due to competitive forces, channel conflict or complex SKU hierarchies.
Experts agree pricing is the most powerful profit lever but how do you identify opportunities quickly and effectively?
Price Align is an accelerated price improvement program and enduring pricing solution in today’s dynamic market to drive profits and optimize your price opportunities.
Price Align enables:
- Margin Improvements – quickly identify & get some pricing wins (2-3% margin uplift)
- Performance Tracking – Monitor & act on where prices are working and delivering on performance & where not
- Quick Price Adjustments – Adapt price rule algorithms for changing market conditions & competitive reactions
- Improved Pricing Process – Enable your organization to better engage with its pricing opportunities & improve execution
- Insights – Expertly designed database for optimal pricing insights with rich Segmentation. Flexible & easy to consume pricing insights i.e. “Story board” analytics
- Actionable Strategy – Model and optimize prices by segment to fully understand impact & detailed execution plans
Impact: Typically an uplift of 2-3% + within 8 weeks
A 1st phase price improvement program identifies pricing opportunities quickly.
Impact: Ongoing price improvements
The Price Align tool continues to identify pricing opportunities and models the margin uplift potential with detailed and specific price recommendations.
Data Preparation for Optimized Pricing
An expertly designed data structure with enhancements to offer optimized pricing
Improved segmentation, building on what exists and new methods e.g. cluster analysis
Dynamic updates that renew segmentations & data structures
Pricing Rules, Algorithms & Modelling
Price opportunities are calculated with various pricing rules and algorithms from fundamental segmentation to more advanced algorithms e.g. peak demand vs supply, price elasticity.
Modelling the impact of these price rules and algorithm scenarios on historic data by segment area provides a detailed understanding of the price uplift potential.
Actionable price suggestions are uploaded into the ERP or quotations system.
Tracking & Delivering Results
Critical to success is tracking the gap between actual prices (discounts) vs target prices to determine the ongoing success of any pricing strategy.
Various pricing insights are developed to evaluate where attention is needed and how to use pricing to grow the business.