Process Improvement

A single consistent source of pricing data, automation for gathering data efficiently, support for remote field-based devices for capturing and reporting changes in real-time, validation and alerts to draw attention quickly to issues, exception-based pricing to focus analyst effort where it adds most value. All of these contribute to a streamlined, high efficiency pricing process capable of identifying and rapidly responding to events as they happen, eliminating pricing “down-time” and minimizing volume or margin leakage.

What’s the alternative? Manual processes that are over-reliant on the actions of individuals, prone to errors, have to work with multiple sources of information with inefficient data capture and without the necessary guidance to ensure prices are consistent with company goals.

Improvements to the pricing process alone can deliver efficiency gains of 30 to 50% and can prevent pricing errors or inconsistencies that can quickly cost the business $200,000 or more per year.

Customers such as Miller Oil have reduced pricing cycle times from 4 hours to 12 minutes, creating time to survey the market more frequently and respond more rapidly to changes as they occur. Empowering store personnel to report changes via hand-held devices further reduces delays in response.

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