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Most B2B companies can raise their game by adopting pricing software tools. For example, based on the performance of historical deals, software solutions can provide frontline sales representatives with real-time pricing feedback on the characteristics of a deal underway. Whether in-house or from a provider such as Vendavo or Price f(x), using dedicated pricing software is associated with 2.5 times stronger pricing outcomes, according to Bain & Company’s analysis of a survey of senior executives at 1,700 companies. Yet despite the proven value of pricing software, it still has only 26% penetration among the respondents.
Ron Kermisch and David Burns are partners with Bain & Company’s Customer Strategy & Marketing practice. Kermisch is a leader of Bain’s pricing work, and Burns is an expert in building pricing capabilities. They are based, respectively, in Boston and Chicago.
Is Pricing Killing Your Profits?
How the best B2B companies set and get the right price.
First published in Juli 2018