Zilliant Introduces MarginMax Ramp, a Predictive Pricing Solution
Sales application provider Zilliant has launched MarginMax Ramp, a predictive, SaaS-based pricing application developed to give B2B companies a more calculated approach to pricing by applying data science to companies' transaction data and returning price quotes that reflect that data. The solution will address a "complicated problem in the B2B space," according to Eric Hills, senior vice president of sales and marketing at Zilliant.
"B2B companies often have tens of thousands of products and prices, and they have to stay competitive. They have to consistently meet their customers' expectations of price and value," Hills says. MarginMax Ramp promises to tackle this issue by helping businesses set prices by aligning a number of price points automatically, without requiring users to make adjustments manually or implement pricing rules.
MarginMax Ramp now resides in Zilliant's Optimization Platform, and once users decide to implement the solution, getting it up and running takes about 10 weeks, Hills says. After deployment, MarginMax delivers its price optimization output and feedback into sales reps' existing quoting tools, which makes for a seamless transition into the new technology ecosystem.
Food service distributor and Zilliant customer Chef Middle East chose the MarginMax solution after experiencing significant growth and realizing that it would be a challenge to keep pricing up to date with a growing number of products and customers. "Chef Middle East has seen rapid growth, but the associated complexity made it difficult to be responsive in the market with our pricing strategy. We needed a pricing tool to sustain the growth and transform the complexity into a source of incremental profits," Steve Pyle, chief executive officer at Chef Middle East, said in a company statement.
"MarginMax Ramp has the right balance of price optimization capabilities and simplicity of setup and use. It will ensure pricing remains a core competency, improving our responsiveness in the market and ensuring we capture the value of our products in the market," Pyle added.
For Zilliant, introducing MarginMax was a move that reflects the company's overall goal of arming its customers with prescriptive and predictive solutions that move as quickly as their businesses do. "I think people are just now starting to catch on to the need for prescriptive and predictive solutions, but we've been doing this for a long time now," Hills says. "Prescriptive pricing helps businesses stay one step ahead of their customers and deliver more rational pricing quotes."
As for MarginMax, Hills says he's confident that Zilliant customers will benefit from the new feature. Companies that deploy MarginMax Ramp will enjoy quicker quote response times, faster ramp-up for new sales reps, and increased negotiation confidence, which he says will ultimately lead to higher margins.
"We're always thinking about how we can help our customers sell faster and smarter," Hills says, "and MarginMax is another step in that direction."
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