How long does it take to make an employee productive? How long does it take to become a professional? The CEO of PetroSkills has noted, “it takes 3 to 8 years for a company to turn a new employee into a petroleum professional.” We can argue over the timeframe per industry and job function, but it’s well understood that becoming a professional in any skilled area including pricing can take years.
I’ve heard sales reps for years say things like, “time kills deals;” sometimes just noted as TKD. There is an obsession with being the first into an opportunity, the last to present, and of course the fastest to respond to any proposal.
The short life of sales leads is where we enter into the pricing conversation here on speed.
Both Meg Whitman of HPE and Mark Benioff of Salesforce.com choose to focus on speed at the 2016 Davos World Economic Forum Digital Transformation of Industries panel. Whitman said, “my view is that the future belongs to the fast,” and Benioff built on this by noting, “Speed is the new currency of business.”
Are you ready to shake up your pricing? Then stop by the Price f(x) booth (#108) at the Professional Pricing Society conference on October 25-26, 2018 in beautiful Dallas, Texas.
Optimized Dynamic Pricing by Price f(x) is a tailored SaaS solution to respond to the ever growing need for businesses to react faster to changing market conditions. The solution, which is integrated with SAP Commerce Cloud, calculates prices in real-time based on predefined set of business rules and modern price optimization algorithms using machine learning techniques. Optimized Dynamic Pricing will enable you to achieve and maintain pricing excellence through dynamic, relevant price changes. Actively monitor price changes, market reactions, and revenue, margin, and volume improvements using powerful analytics capabilities. The solution can work with multiple backend systems, terabytes of data, millions of transactions and historical price points and will enable you with better and improved customer and product segmentation.