Rethinking Pricing, Revenue, and Profits in the Technology Industry
Industry Brief for the Technology industry provides an overview of the state of the industry and introduces a framework guaranteed to drive rapid growth and profitability.
The Industry Brief for the Technology industry provides an overview of the state of the industry and introduces a framework guaranteed to drive rapid growth and profitability.
The landscape is changing for technology companies thanks to increased complexity in go-to-market strategies, web retailers, channel complexity, building recurring revenue streams, and a new generation of buyers with different expectations.
Used to the simplicity and precision of digital transactions in the B2C space, customers have come to expect the same from B2B transactions. In fact, survey results show that 63% of purchasing professionals that buy from technology companies buy more from vendors that offer self-serve features.
Companies tasked with managing thousands of SKUs (such as high-tech manufacturers) or eCommerce platforms, are especially challenged by this change in expectations. It’s impossible to leverage market data to manually update and customize thousands of prices (or even more) in real time. B2B companies struggle to deliver the instant, effortless transaction that buyers have come to expect. Short sales cycles and evolving product lines add to the pressure because the optimal price for a specific offering often changes too quickly for sales reps to keep track.
In response, hardware and software companies alike must evolve by implementing pricing and selling platforms capable of analyzing and utilizing huge volumes of complex data, and making recommendations based on deeper insights, with greater data depth, to drive successful growth.
Modern pricing and selling solutions allow companies to offer a superior customer experience, which is quickly becoming less of a competitive differentiator and more of a mandate.
10 Things You’ll Find In This Industry Brief
- Why digital disruption demands new approaches for technology companies
- Why Device and Software-as-a-Service models simplify business
- Why manual processes can’t tame complexity
- The pricing and selling pain points of technology companies
- The barriers tech companies face in digital transformation initiatives
- Why tech companies need to shape strategy with actionable data
- How to align pricing with strategy
- A proven, successful Digital Transformation framework
- The role of Artificial Intelligence and Machine Learning in digitalization
- The story of two hardware and software companies transforming their end-to-end sales processes