ABSTRACT
Most business-to-business (B2B) transactions involve electronic data interchange. Businesses have computerized every aspect of their operations including quotes, invoices, shipments, inventory, reports and more. The quantity of this data is growing rapidly. Pricing systems turn that data into information that feeds best practices for pricing products and creating day-to-day quotes. Many pricing organizations, guided by system vendors, make broad claims regarding pricing system return on investment. Analytics in pricing systems offer two significant advantages over traditional business intelligence tools like Business Objects and Cognos. First, analytics in pricing systems come with expertise. Second is that pricing systems are much faster at analytics than business intelligence tools. Pricing systems turn data into information, but that data has to be clean. Pricing systems can help companies realize more opportunities through better customer relationships. Pricing systems can reduce liability. Companies enter into contracts with customers and channel partners, sometimes with clauses on pricing.
