Price & Revenue Management at L&T Infotech
Colours :L&T Yellow Pantone 1235CL&T Black Pantone Process Black C Price and Revenue Management Driving profits with the science of optimization Issue 1 2 Welcome 3 Introduction to Price and Revenue Management (PRM) 4 Emerging Technology Analysis: Price Optimization and Management Software for Business-to-Business Boosts Margins in a Down Economy 8 Price and Revenue Management Practice 12 Pricing is a journey not a destination 13 About L&T Infotech Featuring research from
2 Welcome Your Business is now, more than ever, facing fierce competition in all geographies. Your distribution channels are more complex than they used to be, and you have to be more transparent with your clients than you used to be. Therefore, maintaining your competitive edge is not only difficult but is also a key factor for the success of your business. In these times, businesses are going back to their drawing boards to bring out a sustainable and competitive strategy. It is in keeping with these market realities that your strategy has to be dynamic. Successful strategies are the ones that can predict consumer (market) behavior in order to maximize the revenue or profit. You need a strategy that can predict the behavior before your peers do and that can allow your business to adapt to these changes quicker than your peers. In doing so, you have to ensure that the change percolates to every client-facing aspect of your business, be it your website or your distribution partner. Every client-facing aspect has to reflect the change that you wish to implement. Thus, it is clear that a great strategy is incomplete without an agile process to implement it. Price and Revenue Management practice, which is now being imbibed as a discipline across all industries that face a dynamic market, serves as the key differentiator in a fiercely competitive environment. Price and Revenue Management helps develop an internal strategy which is hard to replicate. Design, development and execution of such a management practice calls for framing of robust processes and selection of appropriate tools that seamlessly integrate within the existing system. Needless to say, effective change management is a crucial element for effective ‘migration’ to a new set of tools embodying the practice. In order to achieve pricing power, it is imperative to discover the improvements required in the current process and technology, evaluate the right solution to achieve the identified improvements and finally implement the analyzed solution to gain a competitive edge. L&T Infotech, with its team of experienced pricing professionals, industry experts, IT integration experts, professionals with implementation experience on different vendor tools and rich partner network spanning across the globe, offers unparalleled and complete end-to-end support in your pricing journey. This report features research from Gartner on the topic ‘Emerging Technology Analysis: Price Optimization and Management Software for Business-to-Business Boosts Margins in a Down Economy’ and gives L&T Infotech’s perspective on ‘Price and Revenue Management’ subject. Price and Revenue management is an ever-evolving field that has some elements of art, science and economics. We hope this report will bring some new insights in your business. Warm Regards, Kavindra Sharma, Head of Consulting, L&T Infotech
3Introduction to Price and RevenueManagement (PRM)There is always a need for companies globally Going beyond the traditional measures of cuttingto continuously increase revenues while cost to boost volumes, pricing strategy andmaintaining and improving profit margins. corresponding scientific analytics implementedKeeping in mind the competitive landscape in using tools (off-the-shelf or home grown) arewhich companies operate, a careful analysis being increasingly looked upon by companies toof discount policies, product pricing, revenue plug revenue leakages and make faster pricingleakage, market segmentation and cost-to-serve decisions. This is because improvements infor clients needs to be carried out. price have far better impact on bottom line as compared to improvements in volume. The mostAlso, pre-deal and post-deal analytics needs to effective way for many companies to optimizebe done so that deal negotiations are profitable profitability is to get their pricing strategy right -and assessment of historical deals could be used a concept that has been proven in all sectors ofto develop future strategy. Price and Revenue business.management helps an organization in solvingthese aforementioned issues. Effective price and revenue management practices incorporated by companies help themIn the B2B industry, pricing decisions are in developing pricing as an internal strategy tosubject to complex array of environmental and outweigh competition. This can be successfullycompetitive forces. A company sets not a single accomplished by:price, but rather a pricing structure that coversdifferent items in line. This pricing structure • Developing price and revenue management aschanges over a period of time, factoring in the a strategic functionlifecycle of the product. The price is adjusted toreflect changes in cost, demand and variations in • Making the practice seamlessly integrate withbuyer behavior. relevant departmentsWith the change in competitive environment • Assessing the maturity of existing pricingcompanies consider price change initiatives. process and system landscape with referenceThus, pricing decisions are critical for an to best practicesorganization to achieve favorable output in bothsupplier side and demand side negotiations. • Creating and enforcing processes whichBetter visibility of historical data, margin and would help in effective pre-deal and post-dealprofitability view coupled with intelligence of analyticsdeal negotiators can help a company to tie upthese crucial ends of supply chain efficiently. • Adoption of technology which would introduce mature pricing practices Source: L&T Infotech
4 From the Gartner Files: Emerging Technology Analysis: Price Optimization and Management Software for Business-to-Business Boosts Margins in a Down Economy This research profiles the technological rising • Both entrants and incumbents should consider adoption and impact of price optimization and hosting capabilities to facilitate initial management software for business-to-business implementation work as well as to extend (B2B) commercial relationships. This segment their reach into midmarket organizations of is gaining popularity because solutions assist $300 million to $500 million in revenue. enterprises in identifying shortcomings in pricing policies and practices that erode revenue and STRATEGIC PLANNING ASSUMPTION margins, and more intelligently discern prices Through 2010, price optimization technology will that target markets will bear. have a more-direct impact on increasing revenue or margins than any other CRM technology. Key Findings • Adoption of price optimization and ANALYSIS management solutions has been growing in 1.0 Technology Description organizations with more than $500 million Price optimization and management software in revenue, particularly in industries with offers the promise of helping firms better identify complex pricing requirements. underlying shortcomings in pricing practices that • The greatest interest in these technologies is erode revenue and margins, more intelligently primarily from manufacturing and distribution discern prices that target markets will bear, and logistics organizations, although as well as realize efficiencies in deploying, awareness is growing in a diverse mix of administering, and enforcing prices and pricing vertical industries such as medical devices, policies. The price optimization and management business services and consumer goods. software market for B2B commercial relationships encompasses three segments that • Market growth is accelerated by growing can help organizations implement or improve expertise within professional service closed-loop pricing processes supporting sales organizations, more efficient implementation activities between businesses. These segments cycles, maturing software offerings, as well as are price analytics, price optimization and price widespread concern among enterprises over execution. managing margins and costs. • Price analytics supports discovery processes Recommendations to identify and explain historical trends in realized pricing (typically from transactional • As a new entrant to the market, choose a data), the impact of market dynamics and specific vertical or functional area of emphasis pricing anomalies. such as analytics, optimization or execution as your initial focus to develop and productize • Price optimization is primarily concerned expertise and differentiate your offering. with supporting modeling and forecasting requirements to identify and define optimal • As an incumbent, focus on developing pricing strategies and price bands. solutions further to comprehensively address the three pricing segments – • Price execution focuses on functionality analytics, optimization and execution – and that supports the dissemination of pricing support greater flexibility in satisfying information and guidance on pricing practices different vertical industry practices through and deal development, the defining of pricing configuration. rules and models for ordering and quoting systems, and the automation of approval processes.
5Vendors offering price optimization and Discussions with Gartner clients and inputmanagement solutions for B2B include: from vendor references indicate four common objectives drive technology adoption:• Model N • Defend and improve profitability (across• Oracle E-Business Suite product lines and on a deal-by-deal basis)• Oracle-Siebel • Defend and grow revenue• PROS • Improve governance and consistency in pricing practices and realized prices (such as• Servigistics eliminating rogue discounting)• SignalDemand • Increase agility in tailoring pricing for specific markets or sales cycles• Symphony Metreo 2.1 Factors That Will Drive Adoption• Vendavo Supply- and demand-side factors driving adoption include:• Vistaar Technologies • Economic uncertainty and volatility encourage• Zilliant interest within firms struggling to manage2.0 Technology Adoption costs, defend margins and determine what prices their target markets will bear.The price optimization and management softwaremarket is gaining traction with enterprises • The widespread use of spreadsheets forin increasingly varied B2B vertical industries analyzing and managing prices is increasinglysuch as distribution, electronics, industrial viewed as inadequate and error-prone,manufacturing, high-technology manufacturing demanding more technically-robust solutions.and chemicals. Gartner inquiries for priceoptimization and management in 2009 indicates • Many software offerings currently satisfythat, as of August 2009, approximately 30% of all about 70% of common customer requirementsinquiries originate from manufacturing firms, with out-of-the-box or through the configurationdistribution and logistics as the next highest at of software features, decreasing the need forjust under 20%. Growing interest has also been custom code extensions or integration withobserved in industries such as medical devices, other software add-ons.business services and consumer goods. Sectorsshowing more-limited activity include industries • Vendors’ professional service organizationsbased on intangibles or with a high services are acquiring greater experience in supportingfocus such as software, banking, insurance, projects of varying scope and complexity incommunications and media. various B2B segments in different regions of the world.This market is earning increasing recognitionbecause defining and defending optimal prices • Third-party external services providers areare fundamental imperatives for enterprises that increasing their focus on this subject, growingare responsible for producing shareholder returns. available expertise, raising awareness andGartner estimates that the total worldwide legitimizing solution adoption.revenue from software vendors’ product salesand services to the B2B market reached • Many vendors are launching programs toapproximately $180 million in 2008, or about decrease implementation cycle times and2% of the worldwide CRM market based on total requirements for specific capabilities, oftensoftware revenue, after growing about 20% year based on a temporarily hosted softwareover year. Based on the “Forecast: Enterprise solution.Software Markets, Worldwide, 2008-2013, 3Q09Update,” Gartner expects price optimization andmanagement to represent from 3.5% to 4% of theCRM market by 2013, or more than $425 million.
6 2.2 Factors That Will Inhibit Adoption Pricing is a significant variable that directly Factors inhibiting adoption reflect solution impacts a company’s revenue, profitability complexity and a developing supplier base: and customer relationships. With the appropriate consultancy and pricing expertise, • The number of installations remains modest, price optimization software offers strategic and the market is distinguished by small opportunities to companies with acquiring vendors concentrating on specific vertical insights into underlying relationships that can industries. substantially improve efforts to win more- profitable business more consistently. This often • Most of the vendors offering software and entails helping firms with transitioning pricing services for this market are small and may and selling methodologies that are based on not be able to scale up quickly to satisfy rapid cost-plus or match-the-competition practices, to increases in customer demand. ones supporting effective value-based pricing, or pricing that accounts for relationships. • Many vendors’ software offerings are still maturing, often by productizing work from This market differs from most other application client engagements. segments because it offers strategic benefits in helping organizations grow revenue and • Sales cycles tend to be long because margins, as well as operational efficiencies investments are significant, in many cases (helping companies save time and cut costs). approaching or exceeding $2 million for Many software segments emphasize the latter agreements for both licenses and services. – helping organizations cut costs. Results from implementations during the past four years • Long implementation cycles (more than 18 have been dramatic, with cases of gross margin months) are common for acquiring a broad set increases of 2% to 5% being commonly achieved of pricing capabilities. with revenue under management. This typically has been accomplished through more-accurate • Substantial organizational change may forecasting and planning of prices for specific be required within buying centers, segments, as well as the elimination of revenue including winning acceptance of new price leakages, particularly damaging discounting recommendation practices from sales, practices. There have also been instances of acquiring necessary analytic skill sets and re- projects driving gross margin increases that engineering processes across departments. exceeded 15% for specific product lines and divisions. The value of this segment continues to 3.0 Technology Impacts be substantiated by conversations with leading 3.1 Which Markets and Users Will Be firms in various industry vertical markets in Affected which projects have successfully maintained or increased gross profit margins by 50 basis points This technology emphasizes support for B2B or more in the face of a down economy. commercial relationships because requirements can substantially differ from business-to- 3.2 What Actions to Take Now consumer (B2C) models with respect to managing pricing for sales cycles with corporate For vendors entering the market: buying centers, negotiated agreements and implications of pre-existing account relationships. • Choose an area of emphasis such as analytics, For example, formal bidding processes and optimization or execution as your initial focus securing approval from multiple stakeholders to develop expertise and differentiate your within prospective firms are common. Typically, offering. transaction costs can be high, and the duration of sales cycles longer. In addition, more-defined • Focus solutions selectively on a key vertical deal management processes are required to or two to gain experience with solution communicate and enforce pricing policies, development and validate internal capabilities especially with high-value deals or agreements (professional services, sales and marketing, that encompass complex combinations of items, technical skills, and so forth). options and terms. More complex internal process requirements create the need for more coordination between the sales and marketing departments to provide support for external field sales forces.
7• Leverage existing vertical market expertise • Focus on rounding out solutions to in other solution areas to complement and comprehensively address the three pricing differentiate product development and segments – analytics, optimization and marketing of new price optimization and execution. management tools. • Invest in greater product flexibility to more• In turn, view the addition of a price easily apply existing functionality to different optimization and management suite as vertical industries, as well as to accommodate strategic, for the deal sizes are substantial a wider range of requirements through (often reaching or exceeding $2 million), configuration (employing rules editors, initiatives within corporate buying centers libraries of templates and mathematical often have C-level executive mind share, and functions, selections of features without the impact of successful implementations can coding, and so forth). be substantial to clients. • Consider hosting capabilities to facilitate3.3 What Actions to Take During the Next Six initial implementation work, acquireto 18 Months efficiencies in delivering services andFor incumbent price optimization and acclimating clients to new pricingmanagement vendors: technologies, as well as to extend reach into midmarket organizations of $300 million to• Focus on developing well-honed processes, $500 million in revenue. more packaged capability and hosting support to extend market reach downward 4.0 References into organizations with $300 million to $500 “Hype Cycle for CRM Sales, 2009” million in revenue. Source: Gartner RAS Core Research Note G00172349, Sharon A. Mertz, Michael Dunne, 17 November 2009
8 Price and Revenue Management Practice The B2B industry has always operated in a very grows beyond the existing features that the tool challenging environment characterized by fierce provides. There is a need to enhance & modify competition and extremely competitive prices. the tool to make it more relevant to current As a result, the focus on margin and profitability business dynamics. has traditionally been quite high. To add to this highly charged business scenario are the difficult While organizations grapple with these strategic market conditions experienced by the industry in and tactical challenges, they cannot afford to the past few quarters. Organizations have been lose sight of the opportunity in horizon. As the through elaborate corporate and departmental global recovery from financial crisis is underway, cost cutting measures. most companies are clearly beginning to focus on positioning themselves for an economic Many companies in the B2B segment are upturn. This provides an opportune time for highly decentralized, which means the sales corporations to see beyond the traditional cost organization has a large role to play in major cutting measures and look for the “perfect” price pricing decisions. Companies are increasingly level, pushing decision makers to assess if their feeling the need to enable their sales force, business has the appropriate pricing strategy and “Pricing is a significant to make informed pricing decisions through execution capabilities to respond to the market. variable that directly appropriate data availability and price guidance. Pricing clearly is one lever that most companies impacts a company’s This is to ensure that the quoted price leaves are focusing on. revenue, profitability the office on time and, while doing so, is both and customer competitive and profitable. According to Gartner’s research featured in this relationships. With the newsletter, “Pricing is a significant variableappropriate consultancy Key business drivers for embarking on a pricing that directly impacts a company’s revenue, and pricing expertise, journey are as follows: profitability and customer relationships. With the price optimization appropriate consultancy and pricing expertise, software offers • Manage a complex portfolio of product and price optimization software offers strategic strategic opportunities prices opportunities to companies with acquiring to companies with insights into underlying relationships that can • Stock Keeping Unit (SKU) proliferation substantially improve efforts to win more- acquiring insights intounderlying relationships profitable business more consistently.” • Need for market-based price guidance for that can substantially improved negotiation L&T Infotech believes that in order to calibrate improve efforts to win more profitable this significant pricing variable, a structured • Manage list price at a granular level methodology needs to be followed which would business more consistently.” result in attainment of client’s pricing goals. L&T • Central repository of information for near real Infotech thinks that it is important to: Source: Gartner Inc, Research time data availability for data driven decision Note G00172349, Sharon A. Mertz, Michael Dunne, 17 making • Carefully assess client’s current process and November 2009 system landscape to discover improvements • Measure profitability required in process and technology • Ensure customers/transactions are profitable • Meticulously evaluate the best-fit vendor at the operating margin level tool or identify the improvements required in existing system which can deliver the • Measure and manage the cost-to-serve maximum benefit; and finally elements to avoid margin erosion • Integrate the solution to realize client’s • Need for differentiated pricing for better pricing goal customer connect In order to do so, L&T Infotech leverages In order to achieve the aforementioned business collective intelligence of its experienced pricing drivers, L&T Infotech observes that companies professionals, industry experts, system integration today use spreadsheets, databases, paper reports specialists, tool experts and rich partner network and team of analysts to help drive pricing across the globe. decisions. Often the organizations build a custom tool to suit their business needs. But business
9Source: L&T InfotechClients can use our Discovery, Evaluation and • Identified improvements are prioritized takingImplementation services to gain the pricing into account industry best practicesadvantage. These services can be selectedindividually or all together, based on client’s • Waterfall analysis which helps in identifyingconvenience and requirements. key discount components, including both on-invoice and off-invoice items, is carried outElaboration on these services is as follows: and potential revenue leakage is detected1. Discovery Phase BenefitsIn order to commence the journey it is imperativeto analyze the current pricing process and system • Discovery of hidden opportunities for processlandscape. The Discovery phase does the same improvementsby viewing the current pricing process fromthe perspective of marketing, sales, finance, IT • Predictive and data driven decision makingand other relevant stakeholders. This provides a through enhanced analyticsstrong foundation to the entire analysis. Before • Short term and long term recommendations tothe Discovery phase, clients can take L&T address problems and seek opportunitiesInfotech’s pre-Discovery assessment ‘Price Sense’to get a first-cut opinion on ‘as-is’ practices. Before moving to the value proposition of theThis assessment sets the tone for the actual ‘Evaluation’ phase, let us look at how the MIMA‘Discovery’ phase. During the Discovery phase, framework helps in the discovery phase.L&T Infotech uses its proprietary Multi IndexMaturity Assessment (MIMA) framework (refer 1.1. Multi Index Maturity Assessment (MIMA)section 1.1 for details) to perform a structuredanalysis. L&T Infotech uses its proprietary MIMA framework (Figure 1) developed in-house, to takeHighlights of the process adopted by L&T a snapshot of current practices adopted by theInfotech and subsequent benefits to clients for organization impacting the pricing and revenuethe discovery phase are: management area. It takes into account strategy, process, organization and technology levelProcess inputs from client team. MIMA which has inputs from management science pertaining to price• Existing pricing processes are analyzed using and revenue management embedded in it also Multi Index Maturity Assessment (MIMA) uses best-in-class practices and L&T Infotech’s framework knowledge repository to report on the current state of the organization.
10 Figure 1: Multi Index Maturity Assessment (MIMA) Framework “The widespread use of spreadsheets for analyzing and managing prices is increasingly viewed as inadequate anderror-prone, demandingmore technically-robust solutions.” Source: Gartner Inc, Research Note G00172349, Sharon A. Mertz, Michael Dunne, 17 Source: L&T Infotech November 2009 2. Evaluation Phase the platform for an appropriate tool selection This phase looks at various options available in from functional and technical perspective. L&T front of business to tackle some of the tactical Infotech has been part of such journeys and has and strategic problems related to price and helped clients select the best-tool leading to revenue management. The solution could be to substantial business benefits. implement a best-fit tool, customize the existing system or re-engineer some of the key processes. Highlights of process adopted by L&T Infotech Based on unique business environment and and subsequent benefits to clients for the company needs, solutions are logically derived evaluation phase are as follows: after taking into account all the relevant aspects. Process There are sizable number of vendors in the • Various tool options are explored using P-SAT market which offer price optimization and (refer section 2.1 for details) management solutions. Some of the vendors offer services encompassing different sectors whereas • Implementation roadmap and detailed roll out others specialize only in a particular industry. For strategy is formulated a company which needs to adopt a new vendor tool, it becomes essential to identify the right • Existing pricing processes are benchmarked vendors, screen them on requirements, measure against industry best practices their experience in similar situations and ensure that requirements cover industry best practices. Benefits (Refer the Gartner report for in-depth insight into various price optimization and management • Tool-based approach captures inputs from software’s in the B2B segment). various stakeholders Product vendors come with their own • Structured evaluation process takes emotions specialization to address specific business areas out of decision making and industry segment. L&T Infotech uses its proprietary Pricing Solution Assessment Toolkit • Objective analysis of vendors is carrier out to (P-SAT) in the selection process to ensure access fulfillment of client requirements that strategic objectives of the client are met. We engage in a structured manner to provide Let us look at the contribution of P-SAT, which is an integral part of the entire evaluation phase.
11Figure 2: Pricing Solution Assessment Toolkit (P-SAT)Source: L&T Infotech2.1. Pricing Solution Assessment Toolkit integrating it with client’s current IT landscape.(P-SAT) L&T Infotech engages with its clients to manageIn the entire evaluation process, P-SAT (Figure the implementation risk from a timeline and2) is used as a mechanism to rate all the tools budget perspective and also draws experienceunder consideration in a structured fashion thus of handling large-scale enterprise-levelkeeping emotions out of the selection process. implementations to ensure that transition to the new environment is handled smoothly.Steps involved in the Evaluation process are asfollows: Highlights of process adopted by L&T Infotech and subsequent benefits to clients for the• Pre-qualification of vendors and de-brief to implementation phase are mentioned below; selected vendors on the client RFP Process• P-SAT customization based on client requirements • Make current processes and system ready for the ‘to-be’ state• P-SAT workshop for client • Facilitate smooth integration of the selected• Process of gathering all the essential inputs to pricing tool with the current system landscape P-SAT (refer diagram below) • Support client in training exercises and• Report on entire evaluation process and workshops outcome of P-SAT with recommendation Benefits• Discussions on tool Implementation • Team of tool and integration experts provide3. Implementation Phase complete solutionThis phase involves realizing the identified • Proven implementation experience withpotential and management of related risks and different toolschange. Identification and tracking of the right keyperformance indicators (KPIs) is vital to success. • Mitigate risks through effective change managementDuring this phase, L&T Infotech assists theclient in implementing the shortlisted tool Source: L&T Infotechor customization of homegrown system and
12 Pricing is a journey not a destination L&T Infotech created a pricing blueprint for one A technology roadmap was developed to of the world leaders in high-tech assembly and introduce technology and tools to support the test services industry. It helped in drawing out business process, bring in enhanced decision- a refined process landscape and facilitated the making capability and aid in improving the selection and implementation of the right toolset quote cycle time. The P-SAT framework was to realize these processes. used to evaluate various vendor tools to identify the most appropriate. The client One of the world’s largest suppliers of outsourced Taking an end to end system view, a tool was semiconductor assembly and test services with selected for implementation that was aligned revenues of USD 3 billion. with the organizational strategy. Some of the key considerations for the tool selection are The challenge highlighted below: The client’s business required a quick turnaround • Move from Cost Plus to Value-Based Pricing of quotes. These often had to be customized to meet the requirements of key customers. • Introduce a collaborative deal management Client Testimonial Considering the competitive environment, the environment quotes were required to be positioned at an “L&T Infotech’s attractive price point while ensuring sufficient • Quote cycle time reduction performance has level of granular details. Due to the lack of an been outstanding, integrated system, the business processes were • Efficient Reconciliation with Backend leading to the broken and operated out of multiple systems. community of This lead to duplication of efforts and did not The implementation of the tool ensured all business users and provide an inclusive view of the quote process. product prices were available in the system. IT looking up to With these limitations, it was difficult to track The pricing team worked on near real time data them for continuing and measure the profitability of the transaction. coming from the external systems. The pricing leadership. Their Lack of appropriate data points was an inhibitor in tool provided the metrics relevant to the team to knowledge, skill, handling special scenarios like rush orders, volume ensure there is a continuous check and measure professionalism discounts, long term preferential rates, change on prices of the product. The sales team was and persistence orders, etc. empowered with data that enabled them to place during our journey competitive quote and provide a better platformto pricing excellence The as-is process state for pricing did neither for deal negotiation. A workflow system was were critical to effectively manage margins nor detect revenue developed to ensure all pricing processes are the success of the leakage. This was due to inadequate visibility to adhered to and enable future audits. This provided project.” total cost-to-serve, key pricing attributes, metrics an integrated view of the quote process from the – Director Pricing, North on volume and competitors, disparate execution point where a request for a quote comes in to the American Semiconductor of approvals and final prices issued to clients. point where it is dispatched to the end customer. Packaging Major To manage the entire business process, the tool The solution was configured to provide a comprehensive L&T Infotech worked with key stakeholders dashboard of performance metrics. from the client side to carry out an exhaustive study of the current business processes and Benefits cycle times. Though intense workshops and Business benefitted immensely from an one on one interviews, the pain points were integrated view of the complete process. brought out across different functions like sales, Business processes were streamlined, automated pricing, operations and marketing. Process and and standardized in order to derive maximum technology gaps were identified and plugged. value from the IT investment. The pricing team got access to relevant data to set the product Through a comprehensive plan encompassing prices. The tool provided advanced analytics and various departments, the business processes dashboards. A collaborative deal environment were aligned to make them more relevant to ensured improved turnaround time for quotes. The the needs of current environment and prepare sales force got a better platform to negotiate on them for future growth. All major processes were prices to ensure the margins are intact. Improved documented, shared and published to make deal analysis led to differentiated pricing. sure they are well understood by all entities participating in the process. Source: L&T Infotech