BAIN & COMPANY, PRICE f(x) TEAM UP TO LAUNCH NEW TOOL AIMED AT HELPING COMPANIES TRANSFORM THE WAY THEY MAKE PRICING DECISIONS
Bain Pricing Navigator enables executives to continually assess and adjust their pricing strategy based on company performance through the use of real-time dashboards, proprietary insights, and CRM and ERP systems integration
Boston and Chicago, April 26, 2018 - Bain & Company, one of the world's top management consulting firms, and Price f(x), the leader in Price Optimization & Management Software-as-a-Service, are joining forces to blaze a new trail in technology-supported, sustainable pricing transformation by launching the Bain Pricing Navigator powered by Price f(x). The Bain Pricing Navigator offers Bain & Company clients a powerful, industry-leading software tool to continuously assess and adjust pricing based on their company’s performance by leveraging real-time dashboards, proprietary insights and templates, and integration with CRM and ERP systems.
Over the last decade, Bain & Company has developed a deep understanding of pricing strategy and a proven track record of results, working with B2B and B2C companies globally across industries. For most companies, pricing is the single most effective lever to boost earnings. Yet many companies leave money on the table because they do not set the best price or ensure customers actually pay the price they have determined. A recent Bain & Company survey of more than 1,700 pricing decision-makers found that 70 percent of companies believe pricing is a top management priority. However, more than half of respondents conclude that management has insufficient visibility into pricing decisions. Furthermore, fewer than 20 percent of the companies surveyed have appropriate tools and dashboards to improve pricing decisions.
"Existing pricing processes can’t keep up with the increased complexity, intensifying competition, and rapidly changing market dynamics that today’s companies face,” said Ron Kermisch, Bain & Company’s global pricing leader. “Organizations that execute strategic pricing initiatives together with top consultancies such as Bain & Company, accompanied by implementation of cutting-edge pricing solutions like the Bain Pricing Navigator, can overcome these challenges to move faster and realize more value.”
The Bain Pricing Navigator boosts clients’ pricing results in three ways. First, it provides rapid visibility into company data and allows teams to quickly diagnose opportunities to improve pricing outcomes. Second, it helps capture those opportunities through a comprehensive set of pricing management tools and workflows. Finally, it gives clients access to Price f(x)’s end-to-end suite of pricing functionality on a permanent basis – covering price setting, discount management, promotion optimization, and many other capabilities. Bain & Company helps its clients embed these capabilities throughout their organizations to create lasting results.
Marcin Cichon, CEO at Price f(x), stated: "The combination of the unquestionable market position and expertise of Bain & Company’s pricing team plus the unmatched flexibility and short time-to-value of Price f(x)'s SaaS solution offers a differentiated value proposition, which will be hard to top in regards to speed and benefits."
“We are excited that Price f(x) has joined the Bain Alliance Ecosystem, the firm’s network of alliance partnerships,” said Tom Springer, who leads the Bain Alliance Ecosystem. “Through this network, Bain partners with best-of-breed tool, technology and service providers that complement its services, allowing the firm’s clients to experience relevant new capabilities and get to better results faster.”
Editor's note: To arrange an interview with Mr Kermisch, contact Dan Pinkney at email@example.com or +1 646 562 8102.