Implementation Projects: How Pricing Partners Prepare

Excellent! – You have discovered that an automated pricing software solution will be exactly the kind of tool that will assist your organizations in make smarter pricing decisions based on data-driven insights informed by Artificial Intelligence (AI) and will help you unearth previously unknown profit drivers that you never knew you had. That is great, but right now, your IT Team is unable to work on any implementation projects due to your long-term IT Project Leader taking a sabbatical and the team is concentrating on the everyday administration of your company’s IT concerns rather than taking on new projects. They simply do not have the capacity right now to help you get a new pricing software solution implemented. Sounds like the time has arrived to get a pricing software partner onboard to help you implement the technology and have it driving I’s way towards your business outcomes ASAP. 

At Pearson Ham and Pricefx, we have more than 20 years of combined experience facilitating integration of all manner of 3rd party systems with pricing software. Together with our clients we have experienced trips, falls, dustings off, learnt a lot and shared eventual amazing ‘profit-margin-lifting’ success stories with many companies in the journeys along the integration highway.  

When it comes to implementing new pricing solutions or platforms, preparation is key. Implementation projects can be complex and time-consuming, involving multiple stakeholders, technical requirements, and business considerations.  

Pricing software partners play a pivotal role in ensuring a successful implementation, working closely with their clients to assess needs, design and configure solutions, and manage the rollout process.

In this article, we will take a closer look at how pricing partners prepare for implementation projects, including their approach to project management, collaboration with clients, and focus on delivering value. We will explore the key steps and best practices that pricing partners use to help their clients navigate the implementation process and achieve their pricing goals. 

What Preparation & Co-operation with Customers Ensures a Successful Outcome? 

Successful pricing software implementation projects require careful preparation and collaboration with customers. Pricing software partners work closely with their clients to understand their current business processes and data systems, as well as their future goals and needs. This involves a comprehensive analysis of the client’s current pricing landscape and assessment of their organization’s ‘pricing maturity,’ including pricing strategies, processes, and tools.  

Pricing software partners use this information to design a tailored solution that aligns with the client’s current and future needs, ensuring that the software will work seamlessly with their existing processes and systems.

In addition to assessing the client’s current state, pricing software partners also work with the client to define the future state of their processes, data, and systems. To learn more about data readiness for a pricing software project, check out the handy video below:

You, your pricing software partner, and your pricing vendor will share cross-functional collaboration and development of a shared vision for the future, which considers your strategic objectives and the market landscape. The pricing software partner can help you identify areas where the software can provide value and create a roadmap for implementation that ensures success.  

By involving key stakeholders in the process and ensuring alignment with the overall business strategy, pricing software partners can ensure that your software implementation project meets your organization’s needs and above all, will achieve your desired outcomes. 

REMEMBER – Implementing pricing software should seek to solve your top-of-mind business problems, not your software problems!

How Do Implementation Partners Assess Specific Client Needs & Customize Responses? 

Price software implementation partners take a comprehensive approach to assess specific client needs and customize their responses. They employ two main approaches, one before the commencement of the project and the other right after the project starts. Before starting the project, the pricing partner conducts scoping workshops to understand the client’s current state of business processes, data systems, and governance. In these workshops, the pricing partner brings together all relevant stakeholders and gathers all relevant documents and data to develop a starting point for the project. They also work with the stakeholders to understand the future state of their business and identify improvement opportunities. They develop epics that outline the use cases and validate these outputs with different layers of the organization. 

After the project starts, the pricing partner conducts a more detailed assessment of the current state and future state of the client’s business processes and data systems. They work with the client to identify user stories, use cases, project plan, roles, and responsibilities, expected milestones, and priorities. This involves a combination of technical and behavioral aspects, as the implementation of new software can have a significant impact on the business. The pricing partner ensures that all stakeholders are aligned and on the same page regarding the project’s implementation, priorities, and outputs. By involving the stakeholders in the development of the project plan, the pricing partner can ensure that they feel ownership of the project and are committed to its success. 

The configuration of responses also involves tailoring the pricing software to meet the specific needs of the client. This includes configuring the software to align with the client’s pricing strategy, processes, and data systems. The pricing partner works closely with the client to identify areas where the software can provide value and optimize its performance. They also provide training and support to ensure that the client’s staff can use the software effectively. This customization ensures that the pricing software implementation meets the specific needs of the client and helps them achieve their desired outcomes. 

What Specific Resources & Expertise Do Implementation Partners Provide – And How Do They Ensure Customers Maximize Their Software Investment?  

When implementing a new pricing software solution, it is important to have the right resources and expertise in place to ensure that the software investment is maximized. While technical knowledge is required to implement and integrate the solution, pricing and revenue management experts can help to recommend and embed better processes and methodologies that will enable new ways of working with the solution. 

Implementation partners bring a wealth of expertise to the table, including deep knowledge of pricing and revenue management best practices, as well as experience working with businesses across a variety of industries and verticals.

 

They can help businesses to identify and address pain points in their pricing processes and recommend improvements that will enable better decision-making and improved profitability.

 

In addition, implementation partners can provide training and support to ensure that the software is adopted effectively across the organization, and that teams are empowered to use the solution to its fullest potential.

Ultimately, the goal of working with an implementation partner is to ensure that the pricing software solution is not just a tool to be put in place, but a catalyst for change that enables new ways of working and unlocks value for the organization. By leveraging the expertise and resources of an implementation partner, businesses can achieve an elevated level of adoption, ensure sustainability, and maximize the return on their software investment.

How Do Implementation Partners Manage Project Timelines and Budgets?  

Effective project management is critical to the success of any software implementation project, and pricing software implementation partners have developed best practices and governance models to manage project timelines and budgets effectively. A key component of these models is typically a project steering committee that includes both technical and business profiles, ensuring that both aspects are considered throughout the implementation process. Technical meetings and project catch-ups are also typically scheduled at various stages of the project to ensure that progress is being made and any potential issues are identified and addressed in a timely manner. 

Effective communication and collaboration between the implementation partner and the customer are also key to a successful implementation.

In addition to regular project meetings, implementation partners may also leverage project management tools such as JIRA and Asana to ensure that all stakeholders are kept up to date on project progress, issues, and next steps. These tools can also facilitate collaboration between team members, enable tracking of tasks and deliverables, and ensure that timelines and budgets are being managed effectively.  

Ultimately, effective communication and collaboration throughout the implementation process are critical to ensuring that the pricing software solution is implemented successfully and delivers the expected Return-on-Investment (ROI). 

How Implementation Partners Measure Success & What Kind of Ongoing Support is Provided? 

When it comes to implementing pricing software solutions, it is essential to have a clear understanding of the project’s objectives and goals. To measure the success of an implementation, a set of qualitative and quantitative objectives must be established, such as impacting top and bottom lines or centralizing the pricing process. Implementation partners work closely with their clients to define and measure these objectives using analytics, dynamic dashboards, and KPIs (Key Performance Indicators), which allow for ongoing monitoring and evaluation of the project’s progress. 

In addition to measuring success, implementation partners also provide ongoing support to ensure the long-term sustainability of the project. This support may include training, maintenance, and optimization of the pricing data flow and methodologies. Moreover, partners may offer regular check-ins, surveys, and data-driven observations to assess the impact of the implemented solution on the pricing process and stakeholders.  

Through ongoing communication and collaboration, implementation partners work to ensure their clients achieve the maximum possible value from their software investment and maintain a high level of adoption.

Right Preparation Breeds Pricing Success  

The success of pricing solution implementation depends on the right preparation of the project, software selection, cross-functional engagement, and consensus among all stakeholders. As an implementation partner, we understand that it’s not just about the software, but also about preparing the organization for a successful implementation. With years of experience in business transformation, we have learned that proper planning is essential for pricing success. 

We work closely with our customers to develop a detailed plan for implementation, including clear objectives and KPIs to measure success. We also provide ongoing support to ensure that the pricing solution is being used to its full potential and delivering the expected results.  

Our experts are not just knowledgeable about pricing, but also about preparing organizations for successful implementation. With the right preparation and ongoing support, our customers can maximize their investment in pricing software and achieve their business goals. 

If you are a company looking for pricing software with a strong strategy partnership focus across a range of industries and specialty areas of expertise, then you will want to learn more about the Pricefx Advantage Partner Network and Pearson Ham’s role in it.  

On the other hand, if you are still unsure about working with partners to align your company’s pricing ducks in a row, check out the handy article below to learn more about the benefits that come by working together with a pricing software partner:

Happy Pricing! 

About Pearson Ham 

Pearson Ham Group 

Pearson Ham Group is a specialist pricing consultancy, helping clients improve business performance through better pricing. With a highly experienced team with real industry knowledge, Pearson Ham Group is focused on delivering successful outcomes for clients with pricing, commercial model, value creation or revenue management challenges. Founded by CEO Tim Ham, we have been working with clients across many different sectors for over 10 years. With offices in London, Paris and Barcelona, the team are creating real value for clients throughout Europe. To find out more visit www.pearsonhamgroup.com