Ensure Your Contracts are Profitable in the New Year
For many distributors, contracts and special price agreements are a significant portion of revenue, but can pose challenges. If the process is managed well, contracts can help bring in key customers that can be quite profitable. Unfortunately, maintaining customer-specific pricing records can create an administrative burden, and the resulting mismanagement can drain profitability. As we move into Q4, it’s time to evaluate end of the year contract renewals and make a plan to maximize performance and profitability. This year, with the potential for significant vendor increases on the horizon, taking control of contract pricing is more important than ever.
In this webinar, David Bauders and Gregory Smith explain how to find margin improvement within your contracts by:
- Keeping pace with vendor end-of-year increases
- Identifying low-sensitivity areas that are underpriced
- Correcting margins on underperforming agreements
- David BaudersCEO, SPARXiQ
David Bauders’ singular goal is to help his clients sustainably create and capture higher economic value.
After beginning his career at IBM and Booz & Company, in 1993 David launched SPA (Strategic Pricing Associates, Inc.). Since that time, SPA has generated $100+ Billion of profitable growth for over six hundred organizations, including twenty-five Fortune 500 companies, and is a leading provider of profit-maximizing analytics.
David also recognized a consistently growing skills gap in sales forces’ ability to navigate evolving buyer practices in today’s disruptive digital economy: core selling skills, negotiation skills, financial acumen, strategic client-relationship building, and emotional intelligence. In 2015, he established a second company, SPASIGMA, to fill that gap, as well as distributed sales teams’ need to access virtual sales training and sales enablement support. Uniquely, SPASIGMA produces binge-worthy content in Hollywood, transforming expert content into today’s modern media formats.
In 2019, David merged both companies to create SPARXiQ. SPARXiQ provides integrated analytics and training solutions that accelerate sales performance, profitability and long-term enterprise value.
- Gregory SmithVP of Strategic Accounts & Partnerships, SPARXiQ
Gregory has over thirty years of leadership experience in Electrical Distribution, as CEO or Senior Vice President. Greg’s responsibilities spanned Mergers & Acquisition, Sales & Marketing, brand management, corporate sponsorships, strategic pricing, vendor relations, contracts, rebates, and E-commerce strategies. Greg’s entrepreneurial spirit drove him to start and successfully run four different companies over the last thirty-five years.
Greg has appeared in an array of articles over the years about the electrical industry, especially around the subject of e-commerce, data analytics, and optimized pricing and the impact to margins. Greg sat on IMARK’s marketing committee for years, as well as holding a position on NAED Eastern Regional council and the NAED Board of Directors for several years.