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Identified $3.6M in missed opportunity for a leading industrial manufacturer by creating an Optimal discount Structure and automating claims allocation process

Summary

The client’s sales teams negotiate contracts with different pricing discounts, potentially missing revenue from sub-optimal pricing. As discounting is driven by regional competition, product application, customer’s willingness to pay, and existing relationship with the client organization, so the client wanted us to identify the missed opportunity and optimize the pricing

Approach

  • Baseline Pricing saving 20% of effort  by mapping client’s database with Dun & Bradstreet to acquire Company Profile Information.
  • Optimal discount Structure using look alike analysis reducing the overall targeting cost at campaigns.
  • Automated & optimized claims allocation by comparing cost per lead and past transactional data.
  • Automated dashboard and simulator to help Sales and pricing identify insights and opportunities

Key Benefits

  • Pricing and Sales Strategy teams got more visibility into the reasons behind the missed opportunity
  • More time and dollar savings by moving to automated claims processing process

Results

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$3.6M in missed opportunity identified

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10,000 claims a year validated & processed in under 10 minutes after automation, compared to, sometimes, days spent on a single claim in the old process

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Dashboard and simulator integrated into Salesforce.com application for easy adoption

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