Kedar Gharpure shares a useful post and a practical guide to help companies choose their B2B pricing tools.
We reviewed over 50 B2B pricing tools, here is what we found
The B2B pricing tools landscape is getting increasingly crowded. Today, there are over 50 pricing products and solutions from the leading vendors alone. All vendors offer SaaS based tools that promise a rapid deployment. All vendors also offer analytics or machine learning or AI to deliver a superior pricing impact. So how do you cut through this complexity and choose the right pricing tool(s) for your organization?
Simplifying the B2B pricing tools landscape
We reviewed 50+ B2B pricing tools across 10+ leading vendors. To begin with, the tools often have overlapping features across the vendors. Further, the tools with similar features have ever so different names. Comparing the tools can overwhelm you, especially if you are the beginning of your B2B pricing tool discovery. However, to cut through the complexity, we have mapped all tools across 4 functional categories as illustrated below.
‘Price Management‘ tools are used to store and govern price policy, discounts and authorization matrix. ‘Configure-Price-Quote‘ tools are used to create and send a quote to prospects and customers. Depending on what a company sells, it may or may not need the ‘configuration’ module.
‘Price Optimization‘ and ‘Sales Growth‘ are a new breed of tools. They use advanced analytics or machine learning or AI to generate customer-product specific price recommendations. Depending on your business, you may need tools that deliver pricing recommendations either in real-time or just a few times a year.
Key points include:
- The annual revenue of your business unit
- Data across systems
- 3rd party SaaS tool for ‘Price Management’ and/or ‘CPQ’
Read the full article, B2B Pricing Tools: Which One Is Right for You?, on B2Bgrowthconsulting.com.
Umbrex is pleased to welcome Kedar Gharpure with B2B Growth Consulting. Kedar is a former McKinsey & Co. project manager with over 10 years experience in growth strategy, commercial transformation and digital at B2B companies across a variety of sectors globally. Kedar has supported both Fortune 250 and PE owned B2B companies across a range of sectors such as industrial goods, specialty chemicals, hi-tech and business servies to craft their growth strategy and drive sales and margin growth.
He has particular expertise across several commercial topics including Pricing, Key Account Management, Go-to-Market model, Channel Strategy and Sales Force Effectiveness. Kedar holds a degree in Mechanical Engineering from University of Mumbai and a MBA from London Business School. He is British, based in London and loves to find time for go-kart racing.