World leader in water technology and handling pumps up its pricing optimization through Navetti PricePoint™
Currently, pricing the different water solutions for each customer has been mainly a manual exercise, using established historic business logic, but as technologies evolve and customer demands become more stringent, it was clear that this company needed to revise its approach. Navetti was already established as the global price optimization partner for the company’s spare parts business, and will now take the lead in establishing a common platform for global reference prices for the company’s water handling solutions and how these prices can be applied across its different local business operations.
“We are of course extremely pleased to be chosen as the preferred partner by this established and demanding global category leader”, says Andreas Westling, the Navetti CEO. “CPQ (configure, price, quote) is one of the major trends in the global pricing business today, where different systems and platforms need to work together to create a seamless solution for the customer, from defining the customer-specific configuration to final business offer. With our leading position in value-based pricing and price optimization, as well as our expertise in system integration, we can incorporate third-party configuration tools into our pricing platform to create full end-to-end solutions when the client wants a one-stop-shop delivery. But we are just as comfortable working as a team player where the client wants to orchestrate the solution themselves. With this specific client, we will take the lead and initially help them identify and define the business logic principles through a proof-of-concept project, where we will work with them to review and redefine the attributes that define the customer-perceived value. In 2018 we will implement Navetti PricePoint, and in particular our PriceManagement module, as the central platform for the customer’s configurable pricing solutions and lead the full system integration project as the client migrates from their current set-up into a state-of-the-art pricing platform. Given the nature of the client’s business, it is no surprise that we expect to see a steady flow of improved business performance indicators for our customer from their new CPQ approach.”