Dispersed manual processes, no central governance
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.
Revolutionizing price list management
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 the Healthcare division went to work on optimizing their pricelists, introducing several vital changes in their pricing system:
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With new mass-update features, price changes could be applied across multiple price lists instantaneously, minimizing downtime and maximizing efficiency.
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The introduction of automated background jobs ensures that these predefined price changes were automatically reflected in revised contracts.
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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:
“The tool does the admin work for us so that we can focus on the content and quality of the price changes.”
— Commercial Excellence Director, Healthcare division
96% efficiency, consistent margins, and more flexibility
Since adopting the Pricefx solution, this global packaging leader has experienced multiple benefits with the help of the Commercial Excellence team, including:
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96% more efficiency in price lists, with error-free revisions of 1000+ price lists in just 4 hours.
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Consistent margins for 3000+ price lists amid fluctuating commodity prices, allowing the company to react quickly to market changes.
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Increased flexibility in price adjustments, allowing more room to focus on smaller customers who were previously overlooked due to pricing complexities.
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Enhanced transparency with dashboard pricing analytics, providing a clear overview of price changes and their impact on margins throughout the organization.
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A comprehensive audit trail of pricing and changes, ensuring accountability and compliance at every level of the company.
“The Commercial Excellence team can now react to significant cost changes in a more efficient way, which has helped the organisation adapt to changes in the process. The tool enabled us to adapt to a world of more frequent price changes.”
— Commercial Excellence Director, Healthcare division
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David Pacut, Pricefx, Senior brand and creative lead
