Success Factors for Pricing Software Implementation
Many companies are challenged to adapt their price management in reaction to increasing competition, demand volatility and digitalization: Micro-segmented or customer-specific pricing, dynamic pricing and omni-channel pricing are examples for such adaptations.
While more traditional pricing approaches could be handled in Excel or even in the ERP directly, state-of-the-art pricing requires more and more regular calculations, simulations and interventions. Therefore, many companies are required to up their game in the software arena.
Pricing software providers have taken to the challenge and are now promising to provide the functionalities much-needed to take price management to the next level. Hence, many companies are actively evaluating the implementation of a pricing software. Feedback from early adopters is encouraging and satisfaction with implementation is high. However, for many firms, experiences from other software implementations of the past, such as ERP or CRM, have often left at least mixed feelings and overcast the outlook.
We have reached out to decision-makers to get the bigger picture of where they currently stand with respect to pricing software implementation. With those already having successfully implemented a pricing software, we focussed on extracting the top three most important success factors for implementing a pricing software.
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