Pricing and discounting will always be a religious debate in the organizations on who controls it. For pricing and discounts to work, you need your inventory and master data to be in order. Or the pricing strategies may fire back due to the inconsistent customer experience. Pricing and discounting are even trickier when multiple systems might be controlling master data and pricing and discounting. The multiple systems could be CRM, eCommerce, PIM, ERP, pricing software, etc. So what are the best practices when it comes to pricing and discounting across systems?
In today's episode, we invited a panel of cross-functional experts for a live interview on LinkedIn who brings significant expertise to discuss ERP pricing and discounts business processes and best practices. We covered many grounds, including stories related to the nightmare with pricing and discounting, the impact of master data and inventory on pricing, and the implications of ad-hoc pricing arrangements in certain industries. Finally, we discussed the architectural implications of keeping pricing information in multiple systems, integration issues with CPQ and specialized pricing software, and each team's pricing workflows and boundaries.
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