Helping heavy equipment and machinery companies up their pricing game
Big data and advanced analytics revolutionize value-based pricing in the heavy equipment and machinery industry
Tackle complex commercial challenges
with a data-based approach
Periscope® provides intuitive solutions and expert support to commercial teams at heavy equipment and machinery manufacturers. We help them deal with two primary pricing challenges: how to price complex projects, such as a new assembly line for a car manufacturer, in a way that balances customer value with profitability, and how to price spare parts. While some spare parts may be sold only once every few years, others are being commoditized as online players engage in cherry-picking to sell selected parts directly to customers. Leveraging our skills in big data integration and advanced analytics, we put competitive intelligence and price erosion alerts at the fingertips of sales teams for better decisions and higher profits.
Periscope®’s easy-to-use list pricing solutions take into account value, costs, competitive intensity, and product architecture to set prices at scale, especially for spare parts. We also help companies improve their pricing processes for machines by deploying value-based pricing at scale. Our advanced analytics methodologies allow us to identify key value drivers and recommend optimal prices for deals and contracts. In addition, Periscope® Sales Solutions help heavy equipment and machinery companies implement more effective key account management. For example, our diagnostic tools let commercial directors benchmark the performance of their sales teams, identify the strengths of individual reps, and assign them to those accounts on which they will be most effective.
Many sales reps in the heavy equipment and machinery industry have a sixth sense for what their customers value, but they don’t always know what good pricing is from a margin perspective, especially when it comes to complex projects. By providing software as a service, our experts help sales reps combine their art with the science of value-based pricing across the entire portfolio of customers, products and services, from complex projects to spare parts and maintenance. Drawing on McKinsey’s unparalleled industry experience and commercial excellence expertise, our Insight Solutions bring transparency about value creation opportunities, while our Pricing and Sales Solutions help heavy equipment and machinery companies set prices across very large assortments and improve deal pricing.
For example, we partnered with the spare parts division of an international automotive OEM to optimize the pricing of spare parts and accessories, from air filters and exhaust system components to floor mats and cargo carriers. The fact that the division serves both dealers and consumers, directly as well as through online marketplaces, brings considerable complexity to its pricing processes. The expert-lead deployment of Periscope®’s Pricing Solutions helped the division identify millions of Euros in extra value derived from better spare parts pricing.
Periscope solutions for price and margin optimization
Integrate and analyze internal and external data to generate insights for optimized pricing strategies.READ MORE>>
Enable your sales teams to structure more profitable deals with hands-on contract and quote execution support.READ MORE>>
Optimize price setting across large assortments by simulating the impact of new prices with live data.READ MORE>>
Assess your competitive positioning with real-time information on an unlimited number of products and price points.READ MORE>>
Unlock sales productivity and optimize go-to-market organization.READ MORE>>
Build commercial capabilities to accelerate performance and growth.READ MORE>>
Improve the talent profile and effectiveness of the sales front line.READ MORE>>
Drive growth with sales planning application that increases sales efficiency and productivity.READ MORE>>
What should the regular price of a given spare part be? What discount should be offered to a specific customer? Learn how Periscope® Price Advisor helped a global manufacturer of industrial machines redefine their pricing strategy for thousands of spare parts. The effort resulted in an RoS uplift of more than 2 percent.
Periscope Price Advisor’s unique approach brings science to the art of price setting