iron mountain
CUSTOMER STORY

How Iron Mountain built pricing fairness into every deal

Grace Schafer, Senior Director of Revenue Management at Iron Mountain, runs pricing on one principle: charge every customer fairly.
Headquarters
Portsmouth, New Hampshire, USA
Employees
≈26,000
Annual revenue
≈US$6.1B (2024)
SKUs managed
N/A (services business)
Markets served
Records & information management
Countries
61
Headquarters
Portsmouth, New Hampshire, USA
Employees
≈26,000
Annual revenue
≈US$6.1B (2024)
SKUs managed
N/A (services business)
Markets served
Records & information management
Countries
61
Bosch
CUSTOMER STORY

How Bosch cut quote cycle time by 70%

[Name], [Role] at Bosch, on replacing spreadsheets and giving sales the speed customers expect.
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person-dark  David Pacut, Pricefx, Senior brand and creative lead
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The story
Manages revenue across many businesses, each with its own strategy, from growth and speed to revenue optimization.
Set fairness as the number-one strategy: similar customers should see similar prices, with a clear reason behind any change.
Chose Pricefx for transparency over a black box, so the team can see and adjust the strategy it actually wants to run.
Built clear, cross-functional processes for price changes, with honest customer communication built in.
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person-dark  David Pacut, Pricefx, Senior brand and creative lead
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The story

“Bosch's pricing team was managing thousands ofSKUsacross regions in disconnected spreadsheets, withquoteturnaround taking days.”​

“The sales team was losing deals to faster competitors,evenwhen Bosch's pricing was more accurate.”​

“With Pricefx, Bosch centralised pricing logicandautomated approval workflows, replacing thespreadsheet-and-overrides cycle.”​

“Quote cycle time dropped 70%, from days to hours,withfull margin visibility for finance.”​

The story

“Bosch's pricing team was managing thousands ofSKUsacross regions in disconnected spreadsheets, withquoteturnaround taking days.”​

“The sales team was losing deals to faster competitors,evenwhen Bosch's pricing was more accurate.”​

“With Pricefx, Bosch centralised pricing logicandautomated approval workflows, replacing thespreadsheet-and-overrides cycle.”​

“Quote cycle time dropped 70%, from days to hours,withfull margin visibility for finance.”​

The story

“Bosch's pricing team was managing thousands ofSKUsacross regions in disconnected spreadsheets, withquoteturnaround taking days.”​
“The sales team was losing deals to faster competitors,evenwhen Bosch's pricing was more accurate.”​
“With Pricefx, Bosch centralised pricing logicandautomated approval workflows, replacing thespreadsheet-and-overrides cycle.”
“With Pricefx, Bosch centralised pricing logicandautomated approval workflows, replacing thespreadsheet-and-overrides cycle.”

What does revenue management look like at Iron Mountain?

I’m Grace Schafer, Senior Director of Revenue Management at Iron Mountain. One thing I really love about my role is that no day is the same.

I’m constantly making sure all of our stakeholders are aligned on the vision we’re moving towards, from business line to business line, and that my team is aligned on what they’re doing next. All the support functions are aligned too, from legal to compensation to sales to sales support. It’s fantastic that we work strategically across all of the functions.

 

What should you get right before building a pricing tool?

If someone wanted to remember one thing, it’s this: get stakeholder alignment before you build any pricing tool, and make sure you have the proper requirements before you start building.

If you don’t know your strategy, it’s like getting in your car and setting up your GPS with no destination; you wouldn’t get anywhere. You have to know your destination before you pick software. Pricefx has really helped us execute on our strategy and get to the destination we intended.

 

How do you price across very different businesses?

I support a multitude of businesses with very different strategies. For some, we’re focused on growth and on quoting tools for speed, because sometimes speed matters more than price.

For others, we focus on understanding our pricing and using tools to optimize revenue while charging fairly. Our number-one strategy is fairness for the customer, so we evaluate tools by whether they let us charge customers fairly and justifiably.

 

Why is pricing fairness the number-one strategy?

We make sure our tools enable the strategy we want to execute, and that they aren’t a black box where we’re not certain what strategy is being implemented. We need to adjust when needed and run the strategies we believe are fair and justifiable, so we can optimize revenue and still charge the customer fairly.

Fairness is proving successful in the market. If one customer is paying a hundred dollars and a very similar customer is paying ten for no good reason, that isn’t fair. We use tools like Pricefx to make sure we’recharging fairly and justifiably.

Revenue management has worked hard with our support functions to set clear processes for any price adjustment, across sales support, sales communications, and legal. Once we decide on a change, we communicate it clearly, and we’re honest and open with the customer about why prices have changed.

 

How do you get stakeholders aligned and bought in?

First, make sure you have metrics that are meaningful for your stakeholders, and that may mean more than one metric. Second, build reporting so each stakeholder understands how their metric helps them hit their number-one metric, the one that keeps them up at night.

Third, have a team that works well together and stays focused on the overarching goal, not in silos. What you really need is team players who are extremely goal-oriented. The recipe is alignment with leadership on top metrics, a goal-oriented team, and reporting that solves the problems that keep people up at night.

 

Where does AI fit in?

We’re excited about AI. Right now we’re using it to improve the ways we work, and we’re still piloting how we use it for pricing specifically. My team is using AI tools to become more efficient.

With AI, the outcome is only as good as the data you put in, so we’re enjoying testing different tools and seeing how we can improve our productivity.
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About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is a global information management company headquartered in Portsmouth, New Hampshire, founded in 1951. It provides records and information management, data center, and asset lifecycle services, and is trusted by more than 240,000 customers in 61 countries.

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