Look at pricing as a key area to gain an advantage - it's a good opportunity. If you've got pricing challenges, complex pricing requirements with lots of manual steps, look at it today.
Santa Clara, CA (PRWEB) October 11, 2007
Vistaar Technologies, Inc., a provider of analytical software for pricing, product marketing, and sales operations groups, today announced the company hosted two highly successful roundtable events at the Hyatt Regency in Santa Clara, CA. Experts from Accenture, Gartner and Hitachi Data Systems presented best practices for achieving more effective price management in high-tech businesses. The speakers provided insights into how leading companies are using advanced pricing analytics, improved deal management processes, scenario planning and price optimization technology to drive more profitable growth.
Delegates from over 30 of the world's most prominent high-tech companies attended the event. Recognizing the collaborative nature of pricing processes and the broad impact pricing decisions can have across the organization, many companies sent management representation from multiple functional groups, including pricing, sales operations, marketing and finance.
The day's events were broken out into two sessions: The breakfast roundtable addressed pricing challenges facing the broader high-tech industry, such as managing complex configured products and bundled offerings. Topics during the afternoon session centered on specific pricing issues in the semiconductor industry, including solutions for enhancing margin performance in highly competitive markets that expect lower prices for increased performance.
During his keynote presentation, Michael Dunne, Research VP at Gartner stated, "These types of pricing management and optimization technologies will have one of the biggest direct impacts on increasing revenues and margins, in comparison to other CRM technologies like classic opportunity management." Dunne went further to recommend, "Look at pricing as a key area to gain an advantage - it's a good opportunity. If you've got pricing challenges, complex pricing requirements with lots of manual steps, look at it today."
Sarvajna Kazi, Partner at Accenture's Pricing and Profit Optimization Practice, said that Accenture has found in a study that a "high percentage of existing price management systems need improvement with tools that are dynamic, flexible and integrated." He went on to say that "Accenture research shows that pricing initiatives typically provide payback within one year and it is not unusual to see them yield 200% to 500% ROI."
Scott Nelson, Sr. Director of Pricing at Hitachi Data Systems, a customer of Vistaar, supported Kazi's statement, pointing out, "We've been very pleased with Vistaar and its team and are measuring the breakeven for our investment in the Vistaar solution in months, not years."
Other areas highlighted during the conference included:
- Implementing an incremental, walk before you run approach to price management that delivers quick value and sustainable results
- Supporting collaborative pricing processes through a systems infrastructure that enables marketing, sales, finance, and pricing to gain better insights for uncovering new opportunities to maximize price and profit realization
- Examples of how companies are using price management technology today to improve revenue, margin and market share performance
"The strong interest and participation in this conference reflects the increased activity we've seen during the past year from high-tech companies looking to improve the way they manage pricing processes and strategies", said Jim Peck, Sr. VP of Sales at Vistaar Technologies, Inc. "These companies recognize that Vistaar's price management technology offers a compelling solution that drives margin enhancement and provides the competitive edge required to succeed in the volatile, complex and fast-moving high-tech industry," added Peck.
About Vistaar Technologies, Inc.:
Vistaar Technologies provides analytical software for pricing, product marketing, operations groups. We help companies maximize revenue and margin realization by directly improving list pricing, deal pricing, customer and product profitability, and overall portfolio performance. Visit our demo center or contact Vistaar at +1 973.581.6300