(Part 1) Where Are You on the Pricing Journey?

May 2, 2019 Team Zilliant

Introducing our Online Assessment Tool & Pricing Impact Benchmark

More than two decades of research, product innovation and hands-on work with clients across many industries has taught us that the pricing discipline tends to follow a distinct path. That path can be broken down into four stages, each with specific challenges and opportunities. We believe it’s important to nail down where your organization is on the path, so you can focus on solving problems now while planning for the future you want.

That’s why Zilliant offers a fast, free, self-service online assessment tool. Simply answer a few questions about your organization’s pricing practices to receive a full current state report with recommendations for instant improvement and long-term growth.

You took the assessment and discovered you’re at Stage 1 – Manual. Now what?

First things first: don’t despair. You are not alone. The Manual stage is a natural starting point for companies, and it may have even been highly effective at a time when your business followed a simple, straightforward pricing process. 

But chances are, like most businesses in 2019, you’re deluged with mounting complexity every day. Your process is labor-intensive thanks to an increasing number of SKUs and the data you need being spread across different organizational silos. As you drown in spreadsheets, you’re met with frequent fire drills that are taxing your pricing analysts and frustrating your sales reps.

What’s that part about not despairing again? 

Well, here’s the bright side: The Manual stage is loaded with immediate opportunities for tangible success. Hard (bottom line) and soft (employee satisfaction) benefits surface quickly when you centralize your data, automate tedious processes and begin harnessing analytics.

How do we reach Stage 2…and beyond?

You’ve finished the prerequisites: Discovering where your company stands and shifting your mindset from anguished to aspiring. The Pricing Impact Benchmark report you receive upon completion of the online assessment contains individualized recommendations, so be sure to read that in full. For a Cliffs Notes version, read on!

Zilliant takes pricing seriously. We know it’s a journey, and each stage is important. There are different technology and organizational changes that need to happen in each stage to establish maturity and most importantly, drive positive results. 

Is there a way out of the weeds?

When you’re in the weeds of a completely manual process, it’s hard to see the way out. Most of your problems stem from a lack of control. Pricing managers tend to lack oversight on customer agreements, what prices are being discounted, where the latest pricing data resides, on and on ad infinitum.

Take back control through centralization. A leading-edge tool like Zilliant Price Manager consolidates your pricing data onto a common cloud-based platform. You can use permissions to control who has access to the pricing hub across departments and roles. Then integrate real-time data into key processes to automatically ease the management and analysis of pricing data.

From a single source of pricing truth, you have a foundation to build upon. Now with data cleansed and organized, analytics can help drive better pricing decisions and track performance. Additional easily-integrated SaaS tools hook in to the central pricing hub, furthering automation so you can focus on creating a strategic, forward-thinking culture.

You will soon see that you’ve achieved faster time-to-quote, more accurate and fair prices, better margin performance, reduced tedium and more confident sales reps. Take a bow - you’ve reached Stage 2 – Managed.

Next week, we’ll feature the next stage of the Pricing Impact Chart - Stage 2: Managed.

Take the Online Assessment Now!

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