PROS best-kept secret success stories
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With 20,000 SKUs and thousands of retailers
and independent dealers, managing pricing with
legacy systems and spreadsheets was a logistical
nightmare. There was too much data and no way
to analyze it quickly, which made dynamic pricing
impossible. In the end, their pricing solution needs
boiled down to 3 key goals:
Improve pricing efficiency: The company's old pricing
methodology made setting consistent prices for their large
volume of SKUs challenging and labor-intensive. By creating
a more efficient process, they'd be able to access deeper insights
and gain new capabilities, such as elasticity measurement and
banding, to enable more dynamic pricing options.
Eliminate manual touchpoints: The team wanted to craft
a frictionless eCommerce experience that satisfied their
customers' rising expectations for speed, ease, and convenience.
They also needed a solution that could tie the entire
buying-and-selling cycle together across multiple platforms.
Grow margins: Having a science-based pricing methodology
would help grow margins not just in one specific region or
for a single product line, but holistically across the entire
business. The company hoped that with the right pricing
technology, they could make more data-driven decisions that
would ultimately strengthen profit margins.
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This is a literal a literal
pricing nightmare pricing nightmare!
This can't be good for
our margins, either…
