Global Base Stock Supplier Lubricates Pricing Processes
Overview
One of the world’s most profitable oil and gas refiner’s downstream business includes a leading supplier of high-performance base stocks and finished lubricants for a range of industrial applications. It needed a modern, integrated pricing and quoting platform to optimize and execute its complex pricing strategy.
Challenges
This base stock supplier was highly dependent on offline tools and processes and an aging CRM system for its pricing strategy and execution. As the supplier transitioned to Salesforce CRM, it also sought modern pricing and quoting solutions that would synergize well in an increasingly digital global market.
This supplier has a complex, global business that negotiates in multiple contexts, manages customer-specific price books with unique customer agreements, and needs to make smart pricing decisions across a multitude of price types and calculation logic.
Solutions
PROS was the only solution provider that could provide the breadth of capability the base stock supplier required. The PROS platform offers a secure, high-performance architecture with a product vision that could support the long-term evolution of the supplier’s revenue management and digital transformation capabilities.
PROS delivered complex pricing, quoting, and approval logic as well as solutions for the differentiated needs of end users across the globe. Those capabilities were validated through more than 2,000 test scenarios, resulting in a seamless launch in the Americas and Asia-Pacific region with deployments across EMEA soon to follow.
Results
Broadly, the base stock supplier expects to realize two efficiencies:
- Eliminating dependency on its aging CRM for pricing strategy and execution, avoiding excessive costs from “past end-of-life support,” and eliminating associated risks in the process
- Increased pricing automation and consistency, leveraging a modernized and integrated platform to drive faster, better-controlled, right-priced negotiation
Conclusion
Within the first week of launching the PROS platform, the base stock supplier seamlessly executed six mass price changes. The success of this project is just one of several among the oil and gas parent company’s broader global digital transformation with PROS B2B pricing and selling solutions.