We are excited to announce that a worldwide electrical component manufacturer has chosen Navetti as their preferred price optimization and price management provider for their entire group.
Previously, without a globally synchronized pricing approach, the client had challenges with margin stacking and cost-plus thinking, resulting in lost profit opportunities. By implementing Europe’s most sophisticated pricing software, Navetti PricePoint™, and reorganizing their product segmentation and business structure, our client will be able to fully utilize their data and resources and eliminate cumbersome, inefficient processes and ad-hoc adjustments. Navetti PricePoint™ and the new improved way of working will improve long-term sales and profits.
Navetti has worked with a division of the company for many years, and the results there demonstrates what Navetti PricePoint™ can deliver. The rest of the company can now experience the same benefits, plus the advantages of a coordinated approach across the group. Andreas Westling, CEO at Navetti, explains “We are helping them go from a fragmented approach to pricing, with a lack of coordination and without clear value-based and market-driven pricing methods, to building improved customer satisfaction as well as creating increased shareholder value for the entire group.”
The client needed a comprehensive system that could handle their offering on both a global and local level. In addition, it was important to implement a harmonized pricing structure with controlled price level differentiation across their markets and with a consistent approach between the different product divisions.
Our client chose Navetti to be their preferred company-wide solution provider based on their previous experience of our system’s performance, as well as Navetti’s unique offering of both software and consultants in tandem, ensuring a fast and smooth implementation and change management process. “The system was very important to them,” continues Westling, “and being able to use the same partner for price transformation needs made the process a lot simpler, straightforward and desirable.”
The objective of the Pricing Initiative is to transform their sales process towards smart pricing in order to align processes internally. The end customer will then receive a fair price that reflects the value add to the customer’s process and contributes to healthy consolidated profits. The goal is to simultaneously increase their customer satisfaction as well as their EBITDA margin, and facilitate more sales resulting in an increased Order volume.
Navetti looks forward to continuing our on-target delivery to our client in the years to come.