Analyst Reports

HOW AI PRICE OPTIMIZATION CAN PLAY A SIGNIFICANT ROLE IN BOTH BUSINESS GROWTH AND CUSTOMER EXPERIENCE 4 Many enterprise organizations already have existing B2B omnichannel commerce strategies, however, they are plagued with a myriad of challenges and nuances when it comes to B2B pricing for an omnichannel buyer. Overlooking these complexities could be disastrous for B2B enterprise organizations down the road. The challenges that many organizations face include: Outside forces. Costs fluctuate, and as supply and demand ebbs and flows, costs within supply chains will inevitably change. This will impact pricing — it's simple economics. But unfortunately, many businesses don't have the ability to see how one small piece in the supply chain can impact the rest of the business. This also means that these organizations don't have the ability to adjust pricing effectively when these shifts happen. And it's not just about seeing what's happening – it's about being able to react before it's actually happened in the best way for the business. Inconsistent information. Just like we as consumers may begin to distrust companies when we see them offering certain prices on one website and different prices on another, so too will B2B clients begin to distrust an organization if they are offering inconsistent information about products or services. This could come by way of a poorly trained salesperson, or poor deal approval process, or even lack of fairness in pricing. Regardless of the source, pricing at every touchpoint needs to be consistent. And relevant to the unique buying situation. Unnecessary friction. If there is one thing everyone wants right now, it's for life to be easier, in every possible way. It's all about convenience. That means at any point, if a customer is forced to wait too long or jump over one too many hoops, they will leave. We found that one in four organizations report that vendor disorganization, slow vendor response, and implementation friction as major pain points that still exist in buyers' journeys. We believe that eliminating this for B2B buyers is table stakes. Speed and accuracy through sales channels. Have you ever over-promised and under-delivered? This happens when systems throughout an organization are disconnected or disorganized. Your clients need to know they can count on you to deliver, and quickly, when they need you to. Equally as important, salespeople need to trust and believe that the pricing and stock you say are available truly are. Because if buyers are forced to wait for a quote too long, they will look elsewhere, most often with your competitors. While clients are dealing with the above issues, the organization must also look at price in terms of: firstly, maintaining profitability for the business, employees, and shareholders, and secondly delivering value to customers. Again, as research from McKinsey highlighted, that requires a mix of analytics, people, and processes to work well for your pricing strategy to work fully in your favor. Luckily, there are solutions available to help, which is what led us to evaluate the PROS Platform. The Challenges with B2B Omnichannel Commerce

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