- Assess the VETOB model's likely operation for the new offering.
- Review and document applicable business strategies, as well as existing pricing capabilities (IT and human resources involved in price management, data assets, analytics tools).
- Collect available pricing data (possibly including market research), product/service cost information, competitive market intelligence, which may help quantify (dollarize) the value of differentiated features/ services, and assess willingness-to-pay levels of targeted market segments.
- Define/formalize applicable pricing strategies and methodologies, which support business objectives and can realistically be operationalized using available resources.
- Perform analytics to generate price files for upload into ERP systems. Assist in training if necessary.
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- Review and document internal and external factors impacting the VETOB model's operation in the context of the target entity.
- Define data room requirements for pricing. Conduct interviews with stakeholders.
- Review available information on the pricing capabilities (price setting analytics, execution tools including IT and human resources) and price structures of the entities involved. Assess target's organizational culture from a pricing/value capture perspective.
- Identify and document relative areas of strengths and weaknesses.
- Identify potential threats, exposures, and possible opportunities, both in the short and medium terms.
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- Review/refine any existing short term and long term post-deal integration plans and strategies (avoid customer churn, avoid unnecessary margin degradation, capitalize on pricing opportunities, etc.).
- Create detailed project plans for execution, including resource requirements, timelines, individual roles, and milestones. Assess potential task interdependencies and cultural issues.
- Perform necessary analytics to enable execution, and advise on related tasks, including potential updates to pricing logic, pricing files, etc.
- Direct implementation (lead training sessions, coordinate system updates, draft proposed internal and external communications, etc.).
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- Review existing KPIs, available systems, and existing/attainable data on key VETOB model factors. Consider current price management practices and reporting/analytics practices.
- Review applicable best practice pricing analytics dashboard/tools. Examples may include enabling measurement of margin impact of changes in price/cost/volume/mix, “stick rates” and/or "price realization rates" associated with pricing actions, and dashboards enabling “price banding” analyses to identify segment-specific price outliers.
- Develop recommendations for KPIs, dashboards and other reporting/analytics tools. Define software technology approach (Excel/Access, Business Intelligence, or other data visualization software).
- Lead efforts to implement and operationalize the
analytics solution.
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