This global packaging industry leader produces responsible packaging in the food, beverage, pharmaceutical, medical, home, and personal care industries, among others, with a strong focus on sustainability. It specializes in providing clients with sustainable packaging that is lightweight, recyclable, and reusable, with much of its packaging increasingly sourced from recycled materials.

The company works with leading companies across the globe to protect their products and the people who rely on them, differentiate brands, and improve supply chains with their flexible and rigid packaging, specialty cartons, packaging closures, and other services.

In the 2022 fiscal year, the global leader spanned 220 locations, 44,000 employees in 43 countries, and generated $15 billion in sales.

In the past, the company relied heavily on spreadsheets and manual processes to manage their pricelists. This approach not only consumed valuable time but also lacked central governance, leading to inefficiencies and errors in pricing.

With thousands of pricelists to manage and faced with a volatile commodity market, this global packaging leader knew it was time for a change.

Recognising the need for a streamlined and transparent pricing system, the packaging leader partnered with Pricefx to revolutionize their pricelist management process.

Using Pricefx's Agreements and Promotions and Analytics modules, the Commercial Excellence team for Healthcare Flexibles EMEA went to work on optimizing their pricelists, introducing several vital changes in their pricing system:

• With new mass-update features, price changes could be applied across multiple price lists instantaneously, minimizing downtime and maximizing efficiency.

• The introduction of automated background jobs ensured that these predefined price changes were automatically reflected in revised contracts.

• Approval workflow automation based on defined roles guaranteed a smooth and efficient end-to-end process, eliminating delays and enhancing transparency at every level.

With streamlined pricing in place, the global leader could shift its attention away from manual pricing work towards developing its pricing strategies:

Since adopting the Pricefx solution, this global packaging leader has experienced multiple benefits with the help of the Commercial Excellence team, including:

• 96% more efficiency in price lists, with error-free revisions of 1000+ price lists in just 4 hours.

• Consistent margins for 3000+ price lists amidst fluctuating commodity prices, allowing the company to react quickly to market changes.

• Increased flexibility in price adjustments, allowing more room to focus on smaller customers who were previously overlooked due to pricing complexities.

• Enhanced transparency with dashboard pricing analytics, providing a clear overview of price changes and their impact on margins throughout the organization.

• A comprehensive audit trail of pricing and changes, ensuring accountability and compliance at every level of the company.

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