New Research from Leading Analyst Firm Suggests Optimal Market Conditions for Price Optimization
AUSTIN, TEXAS – May 9, 2012 – The pace of adoption for price optimization solutions is quickening due to shrinking implementation times as executives focus on ways to increase top- and bottom-line growth, according to new research from Gartner.
In the report “Innovation Insight: Price Optimization Leverages CRM, Big Data and In-Memory Computing to Increase Profits and Innovation in the Customer Experience,” published in late April, Gartner predicts that by 2015, best-in-industry enterprises will increase revenue by up to three percent and profits by up to 15 percent, due to improvements made using price optimization technologies.
“The senior executive focus on revenue, profitability and customer acquisition/customer retention is creating optimal market conditions for price optimization, which provides the insight needed to dynamically guide pricing decisions, while ensuring a consistent customer experience and enforcing sales governance in pricing,” Gartner Research Director Chris Fletcher writes in the report. “Price optimization is one of the few technology investment areas that can have an impact on profitability, while at the same time helping to build and protect the customer relationship.”
One of the reasons for the market’s quickening adoption rate is shorter implementation times. The report cites less than 12 months for implementation, down from 12 to 18 months, in part due to improving technology such as Software-as-a Service and cloud-based applications, as well as analytic and Big Data visualization tools.
“Adopting a SaaS business model has enabled us to provide even greater value to more customers by increasing the speed in which they can put optimized prices into the market,” said Greg Peters, president and chief executive officer of Zilliant. “In just one quarter, our customers can see revenue and profit increases of five to 10 percent and more.”
The report also suggests that price optimization should extend beyond its traditional boundaries and be able to identify new selling opportunities in existing customer bases by looking at current buying patterns.
Zilliant delivers on that natural extension of price optimization through its SalesMax offering. Aimed at driving top-line growth, SalesMax identifies the cross-sell and retention opportunities in each account, and provides selling guidance directly to the field.
Zilliant provides predictive sales applications that enable our customers to make their numbers. Our data-driven solutions convert revenue, profit and go-to-market objectives into actionable guidance such as price recommendations and sales opportunities, driving top- and bottom-line growth of five to 10 percent or more. Our flexible SaaS platform enables customers to start improving their results within one quarter by integrating into existing systems and processes. Learn more about how Zilliant helps companies make their numbers at http://www.zilliant.com.