In many companies, there is a constant tension between the sales team and the pricing team. The pricing team wants sales reps to quote from the price list and follow a set of rules, while sales, often faced with highly-competitive selling situations, wants to quote a price that is guaranteed to win the business. To address pricing challenges, many companies resort to automating exception approvals or setting more rules. Neither approach has the desired effect of providing better prices or driving higher profits. They fail to fix the root cause - setting the right prices upfront. In stark contrast, when pricing is optimized using data science, margins are enhanced without putting revenue at risk.

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