PriceGPS™ helps distributors and manufacturers maximize margins through strategic pricing recommendations. SPARXiQ combines your understanding of markets with proven analytics deliver the optimal pricing architecture for your business, one that provides both discipline and flexibility.
Take the guesswork out of your complex pricing environment and allow your sales force to focus on serving customer and delivering value.
Focus discounts on the most price-sensitive products and customers to successfully compete in the market
Capture margin opportunity by extracting small premiums on less-sensitive products and customers
By collecting and analyzing invoice data, customer buying, ordering and spending patterns, PriceGPS™ provides specific recommendations based on customer behavior and true price sensitivity.
Companies know their own customers well. That’s why SPARXiQ works closely with clients to capture valuable market insights that inform customer and market sensitivity ratings. PriceGPS™ builds on that expertise and evaluates customer sensitivity based on type and size, and even cost-to-serve.
When you combine your market insights with the analytics we provide based on your transaction data, you can benefit from a full, accurate picture of customer sensitivity.
Products within sell groups aren’t always purchased or used in the same way, and sales volume doesn’t always tell you what products need to be competitive.
That’s why PriceGPS™ rates core status and sell group visibility based on a proprietary combination of twelve key attributes to provide the most accurate premium recommendations possible. This granular approach identifies countless areas where small additional premiums can produce significant margin improvement.
PriceGPS™ is available in four tiers. No matter where you start your journey, there are additional gains available as you refine your approach with SPARXiQ pricing analytics.
Explore below to learn the the key factors that inform pricing recommendations within each tier:
Wondering what SPARXiQ pricing solutions can do for your company’s bottom line? Use the sliders in this simple Margin Improvement Calculator to find out!
“I was the biggest non believer of strategic pricing because our company, an $80 million distributor of seals and packing, is primarily an automotive distributor. The automotive business isn’t doing very well and I felt that there was no possible way that we could increase margin. SPARXiQ convinced me to give them a try and it has been nothing but wonderful things after that.
“We dabbled in strategic pricing on our own but never got the results that we needed until we hooked up with SPARXiQ. The greatest benefit we have seen is the margin enhancements. We started the SPA program in the summer of 2006. Shortly after that, we suffered very difficult market conditions, however, because of the SPA program, we had our best year ever. Working with SPARXiQ has been phenomenal! We now have data that we can analyze that we didn’t have before. People are embracing the new culture, our Freight Department has become a profit center, and we feel like we haven’t even reached the top yet. The process has been great with SPARXiQ! There isn’t a single investment that you can make at your company that will get you the kind of returns that we’ve achieved by working with SPARXiQ.”
“As an Industrial Distributor with a record of fifty-five consecutive profitable years, we thought we knew both how to operate a business and price products. As the SPARXiQ pricing program was implemented, we moved from being skeptics to believers as we saw a 2% overall gain in gross margin before the first year, and after three years margin growth continues!”
Contact SPARXiQ to get started on your pricing journey today.
Unlock this easy Margin Improvement Calculator to see the impact SPARXiQ pricing analytics can provide for your business.