- December 2018
Pricing in the Center of Commercial Excellence
SPOSEA took part in The 13th EPP Global and European Pricing Forum
In November, SPOSEA participated in The 13th EPP Global and European Pricing Forum, organized by the European Pricing Platform, which took place in Brussels, Belgium. The conference covered many of the pricing challenges businesses face today, such as driving profitable margin growth, developing dynamic B2B pricing, discovering the power of Predictive Analytics to exploit the true potential of big data, and many more.
The big theme of this year’s conference is Pricing in the Digital Enterprise, because it is inevitable that organizations are evolving very quickly into ‘Digital enterprises’. Therefore, the forum focused on the newest pricing technologies such as machine learning, AI in pricing, and latest innovative insights, with the main theme of the event on “How a digital enterprise boosts the role of pricing if they embrace the newest technology”.
In response to the conference’s big theme, SPOSEA leaders, Phil Coady, Walter Wijnands and Barry Edney, led a workshop titled “Pricing at the Center of Commercial Excellence”. While pricing has most impact on results in the short term, unless it is linked to the other key elements of Commercial Excellence, any short term gains will not be sustainable and the returns on pricing activity will begin to diminish. During the discussions, we shared our experience of the benefits of refining customer segmentation, updating value propositions and assortment optimization to really make the value generated sustainable. The importance and influence of connecting other commercial activities to pricing in order develop sustainable gains in margin are often forgotten but represent a key opportunity missed by many organizations. A focus on pricing alone will bring some short term gains but risks creating an ‘Island of Excellence’. A more integrated approach across all commercial and support functions brings a positive cultural shift and long term sustainable performance improvements.
The European Pricing Platform (EPP) is a not-for-profit professional membership association for pricing and monetization managers. The EPP is, since 2006, in the front of supporting pricing and monetization leaders with on- and offline knowledge sharing initiatives and events.
Are you interested to learn more about pricing?
SPOSEA is able to support the development and/or the implementation of your pricing strategy and process, through consultancy, digital tooling and interim expertise as required.
Please contact us
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