(a LeveragePoint White Paper)
From the white paper ...
The pricing strategy domain has matured since 1980 when the first edition of the classic, The Strategy and Tactics of Pricing was published. Today, B2B companies aspiring to improve profitability through pricing can seek expertise from one of several consultancies as well as more than a half-dozen software solutions. Or, they may decide to build in-house capability by hiring certified pricing professionals from the Professional Pricing Society.
In October, LeveragePoint hosted a webinar talk titled, “Selecting a Pricing Software Solution,” facilitated by Jay Manson and Ed Arnold. Jay is currently LeveragePoint’s Vice President of Sales and had previously held senior positions at Vendavo and the Strategic Pricing Group. Ed is currently Vice President of Products and has worked in various consultancies including the Monitor Group and Diamond.
Question: Gartner estimates the price management software market to be $180 million. That pales in comparison with the $2.1 billion procurement software market. Why is there such a huge discrepancy?
In comparison, the price management software space is still in an early phase. There are relatively fewer, smaller players and most solutions focus on just one part of the price waterfall, managing prices and discounts. It’s interesting to note that in the current recession, these software vendors’ growth has stalled. Why? Because many companies are just focused on surviving the economic downturn and the current price management solutions are expensive and difficult to implement. Our view is that the price management software space will expand significantly once there are broader solutions available. That’s the opportunity we see for LeveragePoint.“Our view is that the price management software space will expand significantly once there are broader solutions available. That’s the opportunity we see for LeveragePoint.”Q: Gartner estimates the price management software market to be $180 million. That pales in comparison with the $2.1 billion procurement software market. Why is there such a huge discrepancy?
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