Arrive consistently at optimal pricing decisions. Effective Pricing Management helps you integrate and apply critical pricing information and perspectives.
Pricing Management is the process of integrating all perspectives and information necessary to consistently arrive at optimal pricing decisions. Strong price management capabilities result in effective management of financial risk and revenue. The process entails:
- Balancing company growth, share, and profit objectives
- Gathering and managing information databases within systems
- Defining roles and responsibilities with respect to pricing
- Navigating the organizational politics of different functional interests, and
- Managing various pricing-related workflows
To create a vision for improved pricing management, and the milestones along the way, Pricing Solutions has developed a unique offering we call World Class PricingTM. This is the continuous improvement of tools and processes to cultivate global pricing knowledge and tap into it on a day-to-day basis. The framework is based on benchmarks we have developed from working with companies in a wide range of industries over the past 20 years, and is grounded in Lean and Six Sigma principles.