We help technology companies address their most potent pricing opportunities and boost margins by an average of 430 basis points. Our comprehensive approach addresses:
- Complex pricing models and multiple payment models
- Customer segmentation
- Short innovation cycles and frequent changes to competitors’ offerings and prices
- Difficulty in integrating pricing practices of acquired companies
- Need for standardized pricing guidance and clear waterfall structures to address high discounts
- Negotiating with procurement professionals
We also help you navigate recent trends, including the advent of “as a service” models, the transformative impact of the internet, consumerization of enterprise technology, and the frequency of major disruptions in this industry.
Our deep expertise and robust set of tools, diagnostics and analytics capabilities will help you overcome these barriers and impose a new level of pricing discipline that enhances your profitability.
Process manufacturers face relentless downward pricing pressure as their customers continually strive to reduce costs. But, at the same time, those customers often say they’d be willing to pay a premium rather than switch suppliers. Chemicals companies and other process manufacturers can command that premium by providing the features and services your clients deem most critical.
We’ll help you adopt a pricing strategy that addresses the specific complexities you face, which may include an unclear pricing strategy, suboptimal product pricing, inconsistent execution and undeveloped capabilities. Our pricing projects typically boost margins by 415 basis points, pay for themselves within one year, and ultimately produce results worth >10x our fees.
We help you take seven critical steps to capture more value:
- Partner with customers to build loyalty
- Focus on your highest value customers
- Capitalize on market movements and conditions
- Price to capture added value
- Tie sales compensation to profits
- Re-focus your company on price realization
Across the oil & gas industry top-performing companies give themselves high marks for their pricing prowess. The opposite is true for the other 90%: they score themselves low across virtually every component of pricing. A similar gap exists in the chemicals sector, where most senior leaders (70%) say pricing is important, and an even higher number (85%) say their pricing decisions could be improved.
We can help you close that gap and join the ranks of top performers, boosting margins by an average of 425 basis points. One of the most critical ways we do that is to help you embrace dynamic pricing, the ability to systematically set prices based on eternal market factors. Our Dynamic Pricing Engine synthesizes information and generates prices in real time, in response to market changes. It is just one of several advanced tools we provide to elevate your pricing capability and boost your financial performance.
MedTech companies face a number of pricing challenges, but also have tremendous opportunity to turn pricing into a competitive advantage.
First, the challenges: customers are consolidating and changing their buying behaviors, turning to integrated delivery networks (IDNs) and group purchasing organizations (GPOs) and dealing with fewer, more strategic suppliers. Product portfolios are expanding, requiring greater pricing sophistication, yet MedTech lags many other industries in this regard.
Now the good news: We can help you develop the capabilities needed to transform pricing so that you not only boost financial performance but develop a pricing strategy that is core to your differentiation and can even play a valuable role in product innovation.
Our approach spans strategy, price setting, price getting, operating model, and analytics and tools. We tailor our approach to match your current capabilities and desired end state, and provide a rich array of diagnostic tools and benchmarks, so you can see exactly how you compare today and what full potential can look like. We also provide the training your team needs to continually build on your new pricing expertise, and proprietary software than can help you monitor and refine your pricing program well into the future.