{"id":71414,"date":"2024-04-29T10:30:00","date_gmt":"2024-04-29T16:30:00","guid":{"rendered":"https:\/\/www.vendavo.com\/?p=71414"},"modified":"2024-05-16T16:30:04","modified_gmt":"2024-05-16T22:30:04","slug":"ai-in-revenue-and-profitablity","status":"publish","type":"post","link":"https:\/\/www.vendavo.com\/news-releases\/ai-in-revenue-and-profitablity\/","title":{"rendered":"Vendavo Brings Together Pricing Leaders to Explore AI\u2019s Impact on B2B Revenue and Profitability\u00a0"},"content":{"rendered":"<style>.kadence-column71414_f3862c-67 > .kt-inside-inner-col,.kadence-column71414_f3862c-67 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column71414_f3862c-67 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column71414_f3862c-67 > .kt-inside-inner-col{flex-direction:column;}.kadence-column71414_f3862c-67 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column71414_f3862c-67 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column71414_f3862c-67{position:relative;}@media all and (max-width: 1024px){.kadence-column71414_f3862c-67 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column71414_f3862c-67 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column71414_f3862c-67\"><div class=\"kt-inside-inner-col\">\n<p><em>Pricing, finance, sales, and marketing leaders discuss how AI can support right price, right customer at annual pricing conference&nbsp;<\/em>&nbsp;<\/p>\n\n\n\n<p><em>CHICAGO, April 29, 2024<\/em> \u2013 How AI impacts the commercial and pricing strategies used by manufacturing and distribution companies was discussed at an event hosted by <a href=\"https:\/\/www.vendavo.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Vendavo<\/a>, the global leader in B2B pricing, selling, and rebate solutions for pricing leaders last week at the Professional Pricing Society (PPS) Spring Conference.&nbsp;<\/p>\n\n\n\n<p>Amid lingering global economic concerns, manufacturers and distributors employ a variety of financial strategies to boost revenue, margins, and profitability including price optimization, RevOps processes and solutions, rebate\/incentive programs, channel programs, and others. AI is impacting all of these and creating new, scalable strategic opportunities. What this looks like and how to succeed with the emerging innovation was explored at a Vendavo-hosted event at PPS\u2019s annual conference for pricing leaders in Chicago.&nbsp;<\/p>\n\n\n\n<p>\u201cThe possibilities AI brings to our revenue optimization and commercial excellence efforts are exciting,\u201d said Anne Lewis, Senior Manager of Pricing, Afton Chemical. \u201cUnderstanding our customers better and delivering experiences that exceed expectations is always top of mind.&nbsp; We\u2019re learning more about the different types of AI available for commercial excellence and defining appropriate use cases.\u201d&nbsp;&nbsp;<\/p>\n\n\n\n<p>Artificial Intelligence is becoming increasingly important to large manufacturers and distributors who serve thousands or tens of thousands of customers across many geographies with extensive product portfolios and complex sales channels. The use of AI and machine learning gives individuals and companies the ability to better understand their data, gain insights to help grow the top and bottom line faster, predict outcomes, and make strategic, informed recommendations on the largest of scales.&nbsp;<\/p>\n\n\n\n<p>\u201cAI has become a critical component for organizations seeking to arrive at and deliver the right price at the right time for the right customer,\u201d said Alex Hoff, Chief Product Officer at Vendavo. \u201cBy implementing specific AI-fueled actions for optimizing a price, recommending a product an individual customer is likely to buy, and accurately forecasting demand, manufacturers and distributors will grow revenue and profits, not to mention boost customer experience.\u201d&nbsp;<\/p>\n\n\n\n<p>Event attendees also had the opportunity to celebrate Vendavo\u2019s upcoming and newest AI-powered analytics solution, Action Adviser. The predictive analytics engine goes beyond dashboards to the next best actions that automate the identification, validation, execution, and tracking of revenue and margin leakage and opportunities.&nbsp;<\/p>\n\n\n\n<p>\u201cExperience and research have repeatedly demonstrated that improving B2B pricing of products and services has a quantifiably significant profit and revenue impact,\u201d said Tim Smith, CEO, Wiglaf Pricing. \u201cRecent advances in AI and machine learning have created new opportunities to improve the insights, accuracy, scale, and speed of crafting actionable pricing intelligence from raw data.\u201d&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>##&nbsp;<\/p>\n\n\n\n<p><strong>About Vendavo<\/strong>&nbsp;<\/p>\n\n\n\n<p>Vendavo\u202fempowers global manufacturers and distributors to accelerate growth and profitability with leading pricing, selling, and rebate management solutions. Companies like Emerson, Medtronic, and GAF rely on\u202fVendavo\u202fto manage, optimize, and\u202fdigitize their end-to-end commercial processes. Vendavo&#8217;s\u202fsolutions, team of pricing and\u202fselling experts, and proven process accelerates value and outcomes that are not only\u202fpredictable, but unrivaled. With\u202fVendavo, the world&#8217;s most ambitious B2B organizations can develop\u202fdynamic customer insights and execute optimal pricing strategies that maximize margin, boost sales\u202feffectiveness, and improve the customer experience.\u200b&nbsp;<\/p>\n\n\n\n<p>\u200b&nbsp;<\/p>\n\n\n\n<p>Vendavo\u202fis headquartered in Denver, with offices in Czech Republic, India, and Sweden.\u202fFor more\u202finformation,\u202fplease visit\u202f<a href=\"http:\/\/www.vendavo.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">http:\/\/www.vendavo.com<\/a>&nbsp;<\/p>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Pricing, finance, sales, and marketing leaders discuss how AI can support right price, right customer at annual pricing conference  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