How To Successfully Implement Pricing Software:

How To Successfully Implement Pricing Software: Creating a Revenue Generation Machine Lydia Di Liello Capital Pricing Consultants L.L.C. Helping you ...
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How To Successfully Implement Pricing Software: Creating a Revenue Generation Machine

Lydia Di Liello Capital Pricing Consultants L.L.C. Helping you achieve more profit locally and globally

How To Successfully Implement Pricing Software: A Case Study 

Why Implement Pricing Software: Value Realization- what’s it worth ?  

Raining money Software Results

3 Key Phases to Success 

Discovery Phase  

Implementation - A Brief Roadmap for Success   

Minutiae matters Key participants Pricing implementations are different Vendor choice & Selection Tips Resourcing & Scope

Change Management- the KEY to success 

Top down buy in

How To Successfully Implement Pricing Software: A Case Study 

Success story: Pricing software implementation for a Global mid market custom packaging manufacturer 

Serving a broad range of industries 

Company offered a systems approach 


Machinery, Materials, Service

Products   

Multi product offering Industry leader in several products Market share leader

What’s it Worth? The Software Deliverables 

Transformed Pricing   

Visibility and control of high value deals  

Proactive Consistent Market Relevant

Consistent metrics Set expectation with executives regarding financials

Automatic approval of thousands of small deals  

Automated review process Eliminated wasted time

Software Value Realization Raining Money 

 

Double digit margin growth within 12 months of implementation Increased approval oversight by 280 % Installed on time < 1 year No additional capital required Sales embraced & utilizes the software

How DO I Get These Results 

Clearly software can be worth the pain of implementing financially and operationally

The real question is how to do it cost effectively and optimize the benefits.

Following are a few slides to the lead the way….

Discovery Phase

Roll up your sleeves - dig for the details  Do not ASSUME anything. PROVE everything.  What your Six Sigma or ISO documents say is not what your people actually do.  Spend time & effort on this phase or it will be expensive later! 

Discovery Phase Continued: Pay Me Now or Pay Me Much More Later 

Team continuity is critical. “Nay sayers” need to be removed.

Appoint an empowered project manager within your company  Political clout and communication skills a must

Determine your data “spiritual guide”  Someone who understands the project and its goals as well as understanding the data and where to find it.  Note: these folks are gold! And can be hard to find…

Implementation: Pricing is Different 

Comprehensive 

Emotional 

Pervasive opinions –Everyone believes they know the issue and how best to address it

High visibility 

Impacts multiple functional areas including Finance, Customer Service, Sales, & Manufacturing

Career maker or breaker

Politically charged

Vendor Selection: How Do I Choose? Remember : It is a partnership not a one way street  Confirm the vendor’s longevity in the business  Does the vendor support an active customer network ?  Meet your project team. The best & brightest may only be used during the sales cycle.  Does the vendor have expertise in your industry? 

Change Management: The Difference Between Success & Failure 

Business processes, policies, and daily operations must be “changed” and completely adopted to the “new” way.

Sounds easy! Don’t kid yourself….more than 50% - 80% of all implementations FAIL due to inadequate Change Management

Change Management starts with “Top down” BELIEF in the project  Actively engage “C” levels in the Software Implementation Project. A CEO’s support is crucial to success.

Change Management: The Key to the Cash 

Corporate Culture 

Steering Committee  

Establish a formal team to guide the implementation project Include Sales from the outset - Invite senior Sales executive (Sales VP) to be part of Steering committee both for oversight and decisions

Ensure all functional departments like Customer Service and Sales are included & actively involved in the project

Utilize brief informal meetings to keep communication flowing between monthly formal meetings 

Humor is the best tool you own

Tips guaranteed to save you thousands!  “Requirements

Definition” phase: ensure due diligence. Not sexy but cost effective. Spend more time here and none in rework.

Data rework is costly: identify & empower a data spiritual guide to work directly with the vendor

Per hour contractual rate: remember that all additional work or rework will be charged at this rate.

Want to Learn More? Contact me at: Lydia Di Liello Capital Pricing Consultants L.L.C. Cleveland, Ohio [email protected] Helping you achieve more profit locally & globally

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