PROS® (NYSE: PRO), a big data software company, today announced the results of a European research survey conducted by the European Pricing Platform (EPP), a not-for-profit organisation that supports the development of pricing professionals in the region. Based on responses from more than 120 business leaders and pricing experts, the European Pricing Maturity Study 2013 indicates the majority of organisations want to improve their approach to sales and pricing management.
According to the research report, more than half (56%) of respondents overestimate their current pricing maturity level. Rather than being able to capture potential value opportunities and correctly position their goods and services for customers, the majority of organisations (90%) are currently only able to manage standard price lists or single transactions. To improve and better manage sales effectiveness, 88% of those surveyed are looking to invest in new technology over the next 12 months.
EPP President Pol Vanaerde commented, “Pricing is a strategic business enabler that drives sales growth and spans multiple business areas and functions, including sales, marketing, finance and product management. It is often not integrated and managed effectively. Companies that bring together pricing and sales are able to better perform in their markets, capture more value for their customers and increase their own profitability.”
PROS EMEA General Manager Eric Allen said, “These research results provide valuable insight into the role big data applications and pricing management can play in improving sales effectiveness. PROS helps companies bring sales and pricing teams together using data science and analytics that drive the right decisions and provide organisations with a competitive advantage for winning deals more profitability. Industries from manufacturing and automotive, to chemicals, logistics and services, are using data science to sell more effectively and improve results. We are pleased to have sponsored this research and appreciate the work of the EPP.”As part of its research, EPP evaluated maturity levels for pricing across a range of industries including automotive, chemical, high-tech, life sciences, machinery and equipment manufacturing, postal and logistics, and telecommunications, in the business-to-business arena. Fast Moving Consumer Goods (FMCG) was the only business-to-consumer sector included in the report.