Conventional wisdom would suggest that pricing, as a key component of a business’s financial performance, is a critically important discipline within any enterprise, touching many departments, from sales and marketing to finance. And yet, does anyone know whether their company is making the best pricing decisions? TEC Principal Analyst P.J. Jakovljevic is encouraged by the growing awareness and adoption of pricing technologies among B2B enterprises.
based on relevant metrics Automatically generate mass price updates when pricing inputs change, including costs, competitor prices, market indices, supply availability, and demand metrics Of the above three areas of pricing, ERP systems can help only in part with the price execution activities. ERP systems do not directly address the myriad of critical price-setting issues. Rather, they assume that a product marketing or sales person simply “knows” the right price. ERP-based Pricing—Necessary but