An Improved, Automated, and Consistent Pricing Platform on PROS for One of the World’s Leading Industrial Conglomerate

Client

The client is a multinational conglomerate known for their innovations in technology related to control systems, automation, and industrial process control. Their products support complex systems in their reliable functioning throughout the product life. They operate in various sectors, including aerospace, industrial, and automotive.

Challenges

The client was struggling due to manual pricing done on offline Excel sheets. The challenges they faced were -

• A cumbersome manual product pricing process
• Lack of transparency in the pricing system
• Lack of a centralized pricing system
• Lengthy and stressful processes

LTM Solution

LTM helped configure multiple business units and country-specific complex products and serviOS.com. 

• Implemented PROS control and guidance across two business segments.
• Integrated PROS.com with CRM and ERP systems.
• Enabled subscription for products/services.
• Enforced price discipline and eliminated pricing errors by leveraging algorithmic price strategies.
• Set up AI-generated guidance based on the customer/peer group’s willingness to pay. 

Business Benefits

• Moved 80% of quotes through the PROS Pricing Platform. 
• Reduced quote turnaround time to less than 24 hours. 
• Established pricing guidance with dynamic optimization.
• Increased margin through simple, transparent, and data-driven dynamic pricing.
• Set up recommendation generation using AI/Science.