After completing the selection of an advanced pricing tool guided by The Parker Avery Group, the client began implementing regular price optimization capabilities for three countries in Europe. The project included multiple currencies and different master data sources.
The company’s general philosophy is to be the low-price leader compared to its competition, so the project had to focus on value measurement and impact on customer perception. Company leadership also recognized the importance of a comprehensive change management program to ensure the adoption and sustainment of new pricing capabilities.
Further, each country had different regulatory considerations (e.g., cannot sell below cost) that the system configuration must address.