Vendavo Introduces New Artificial Intelligence Deal Price Guidance Solution
Vendavo Deal Price Guidance Can Be Configured in as Little as 24 Hours and Helps Companies Make the Shift from One Size Fits All Pricing to Automated, AI-Enabled, Deal Specific Pricing
As digitalization continues to transform B2B commerce, companies increasingly need a way to easily identify the right price for every quoting situation in order to improve win rates, customer experience, and financial performance. To enable this capability, Vendavo, a leading provider of commercial excellence solutions, launched Vendavo Deal Price Guidance (VDPG).
“Research shows that 82% of B2B buyers now expect a B2C-like buying experience and yet only 27% of B2B buyers say suppliers excel at meeting these expectations,” said Alex Hoff, Vice President of Product Management and Marketing, Vendavo. “To remain competitive, B2B sellers must provide highly personalized and accurate offerings of the right products, at the right prices, through a superior customer experience. In too many cases, companies simply don’t have the ability to easily identify the right price for sales to use in each unique selling situation.”
VDPG is an intelligent, cloud-native solution that delivers AI-enabled, deal-specific pricing guidance directly to a customer’s CRM and quotation workflows while continuously optimizing deal win rates, enterprise profitability targets, and the overall customer experience.
“VDPG has been designed and delivered on an agile and scalable SaaS architecture, and utilizes click-based configuration rather than code-based methods so system stand-up can be achieved in as little as 24 hours,” said David Edwards, CTO, Vendavo. The flexible solution implementation and delivery substantially reduces overall implementation costs while increasing the velocity-to-value.
Unlike other black-box solutions which rely almost exclusively on proprietary algorithms and basic math models, VDPG enables the ideal blend of advanced AI combined with unique human insights that stem from real-world market, industry, and customer account experience that yields the optimal pricing intelligence specific to the enterprise and the deal itself. With Vendavo Deal Price Guidance, customers are in complete control and can use as much, or as little of the AI pricing intelligence as is appropriate for their organization’s maturity and data quality. This means companies can get started immediately, regardless of their situation, and use more and more advanced capabilities within VDPG as they become ready.
“As many people have pointed out, getting pricing right is the most efficient way a management team can improve their organization’s financial performance,” Hoff said. “With VDPG, sales can now claim their competitive edge on every deal because they can be confident that the price is right from the start. And pricing and product management can be confident that the sales teams have the best intelligence available in real-time, when they need it.”
VDPG is a part of the Vendavo Commercial Excellence platform and consists of the following capabilities: pricing segmentation, segment-specific pricing guidance setting, business rules & governance, guidance calculation preview and approval, and REST APIs that deliver guidance to any modern quoting solutions such as Salesforce, Oracle, SAP, other CPQ solutions, and of course Vendavo CPQ Cloud, Vendavo Deal Manager, and Vendavo Deal Guide.