To tap the full potential of pricing, a proper pricing infrastructure is required to drive real and sustained pricing performance. With such a concrete infrastructure, a company can establish and strengthen pricing activities by creating deliberate processes of decision across the organization.

1. How to
Automate
Pricing
Infrastructure
PREPARED BY
www.quantzig.com FEBRUARY 2019

2. About QUANTZIG
For more than 15 years,
we have assisted our
clients across the globe
with end-to-end data
management and
analytics services to
leverage their data for
prudent decision
making. Our firm has
worked with 120+
clients, including 55+
Fortune 500 companies.
At Quantzig, we firmly
believe that the
capabilities to harness
maximum insights from
the influx of continuous
information around us
is what will drive any
organization’s
competitive readiness
and success. Our
objective is to bring
together the best
combination of analysts
and consultants to
complement our clients
with a shared need to
discover and build
those capabilities and
drive continuous
business excellence.
CONTACT US
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3. Introduction
First, let’s define pricing
automation. Typically, prices
are determined automatically
using a software system
based on a pre-determined
set of constraints and rules,
as opposed to manually by a
pricing manager. There is
little or no, if any, human
intervention once the system
is set up.
The “automation” part is the
relaxed step: you only need
to connect many systems
together, so they can argue
based on the data. While
this step can be theoretically
challenging, there’s often a
solution. However, the more
problematic element to
pricing automation is
defining the pricing
approach behind the
automation. As a result,
using the right strategy in
the form of pricing sense is
critical and to create it takes
a mix of science and art.

4. Establishing Your Pricing
Strategy and Infrastructure
When it comes to establishing
your pricing strategy and
infrastructure, the order in
which you address each
element matters. All pricing
elements are needed because
they’re interrelated, but you’ll
always need to start by
addressing your pricing
strategy and once you’ve got
that, look at your data and
people so that you can set up
the right system for your
company. Linking your pricing
infrastructure to the pricing
elements allows your
company to take a long-term,
holistic approach to your
pricing strategy.
Many companies make the
mistake of thinking that
implementing a pricing
automation system will make
them more efficient,
consistent, or place greater
control on their pricing, but
the reality is that it’s
inefficient to invest in a
system without having the
core elements in place.
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