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Pricing Optimization at Zilliant

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Pricing Optimization at Zilliant

PRESIDENT&CEO Founder, Paul Stukel speaks with Greg Peters, CEO of Zilliant, a leading pricing technology provider, about the state of play in pricing optimization and the impact of “Big Data” on middle market companies. From the May issue of PRESIDENT&CEO Magazine

To listen to the entire interview with Greg Peters, click here

PCEO:  So Greg, if you wouldn’t mind, let’s start with giving folks an overview of Zilliant.

Greg:  We help B2B companies use their existing data to give guidance to their sales force to improve pricing and to help their sales force close more deals.  So at the end of the day, we use advanced science to optimize data for specific purposes around pricing, around cross selling, and around growing market share for the customer base.

PCEO:  So clearly there’s an element of analytics there.  There’s an element of execution there.  We did a story on this in December of 2010.  What we gathered from that is that there are three levels of this technology.  There’s analytics, which is more of backward looking activity.  There’s execution, which is getting the information and the right parameters to the sales person in real time or as close to real time as possible.  And then there’s optimization, which is that given all these variables this is the right range for you to be pitching or negotiating.  First of all, do you agree with that broad assessment and does the Zilliant approach deal with all those elements in its offerings?

Greg:  I guess I look at it a little differently. I think we’re in the business of giving answers, and we don’t want salespeople looking around in analytics trying to find the answers to their questions.  We want to proactively give them the answers to their questions.

"I've been in the software space for over twenty years, and theses are the most impactful applications in terms of helping a company's overall performance that I've ever been involved with."

I used to be a CFO in my past life, and as a CFO you can’t make every financial decision in a company. I always felt that it was my job to get the right systems in place so that if people had the right information at the time that they need to make a decision, and they can understand that information, then nine times out of ten they’re going to make the right decision themselves.  That’s a much more efficient way of running a business, and so we’ve taken that to the solutions that we offer.

Our pricing optimization solution is called MarginMax.  We optimize prices for specific products, specific markets, specific customers, and as a sales rep is going to quote and price a deal for that particular customer, we infuse that answer directly into the quoting application or whatever execution system that they’re using, to get that pricing to the customer.

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