Vendavo Introduces New Artificial Intelligence Deal Price Guidance Solution

Artificial Intelligence
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DENVER–()–As digitalization continues to transform B2B commerce, companies
increasingly need a way to easily identify the right price for every
quoting situation in order to improve win rates, customer experience,
and financial performance. To enable this capability, Vendavo,
a leading provider of commercial excellence solutions, today launched Vendavo®
Deal Price Guidance
(VDPG).

“Research shows that 82% of B2B buyers now expect a B2C-like buying
experience and yet only 27% of B2B buyers say suppliers excel at meeting
these expectations,” said Alex Hoff, Vice President of Product
Management and Marketing, Vendavo. “To remain competitive, B2B sellers
must provide highly personalized and accurate offerings of the right
products, at the right prices, through a superior customer experience.
In too many cases, companies simply don’t have the ability to easily
identify the right price for sales to use in each unique selling
situation.”

VDPG is an intelligent, cloud-native solution that delivers AI-enabled,
deal-specific pricing guidance directly to a customer’s CRM and
quotation workflows while continuously optimizing deal win rates,
enterprise profitability targets, and the overall customer experience.

“VDPG has been designed and delivered on an agile and scalable SaaS
architecture, and utilizes click-based configuration rather than
code-based methods so system stand-up can be achieved in as little as 24
hours,” said David Edwards, CTO, Vendavo. The flexible solution
implementation and delivery substantially reduces overall implementation
costs while increasing the velocity-to-value.

Unlike other black-box solutions which rely almost exclusively on
proprietary algorithms and basic math models, VDPG enables the ideal
blend of advanced AI combined with unique human insights that stem from
real-world market, industry, and customer account experience that yields
the optimal pricing intelligence specific to the enterprise and the deal
itself. With Vendavo Deal Price Guidance, customers are in complete
control and can use as much, or as little of the AI pricing intelligence
as is appropriate for their organization’s maturity and data quality.
This means companies can get started immediately, regardless of their
situation, and use more and more advanced capabilities within VDPG as
they become ready.

“As many people have pointed out, getting pricing right is the most
efficient way a management team can improve their organization’s
financial performance,” Hoff said. “With VDPG, sales can now claim their
competitive edge on every deal because they can be confident that the
price is right from the start. And pricing and product management can be
confident that the sales teams have the best intelligence available in
real-time, when they need it.”

VDPG is a part of the Vendavo Commercial Excellence platform and
consists of the following capabilities: pricing segmentation,
segment-specific pricing guidance setting, business rules & governance,
guidance calculation preview and approval, and REST APIs that deliver
guidance to any modern quoting solutions such as Salesforce®, Oracle®,
SAP®, other CPQ solutions, and of course Vendavo CPQ Cloud, Vendavo Deal
Manager, and Vendavo Deal Guide.

Supporting Resources:

About Vendavo

Vendavo powers the shift to digital business for the world’s most
demanding B2B companies, unlocking value, growing margin and
accelerating revenue. With the Vendavo Commercial Excellence platform,
companies develop dynamic customer insights and optimal pricing
strategies that maximize margin, boost sales effectiveness and improve
customer experience. With an annual margin improvement totaling more
than $2.5 billion across companies in chemicals, distribution, high-tech
and manufacturing, Vendavo delivers cutting-edge analytics and deep
industry expertise that help companies stay one step ahead. Vendavo is
headquartered in Denver, CO and has offices around the globe. Learn more
at Vendavo.com.

(Excerpt) Read more Here | 2019-04-10 18:03:00

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