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Enhancing Customer Experience with After-Sales Support
In today's competitive market, the quality of after-sales support can significantly differentiate a machine manufacturing company.
Find out how modern pricing software is changing the machine manufacturing industry – highlighting key trends and essential features.
The machine manufacturing industry is currently undergoing a digital transformation. This change encompasses several aspects from improved analytics to the integration of artificial intelligence (AI) and the Internet of Things (IoT) as well as market-driven and dynamic pricing strategies, personalization of services, user-friendliness and accessibility. This article provides an outlook on the expected trends for a key digitalization topic in 2025: manufacturing pricing software and how OEMs can benefit from it.
Table of Contents:
- Enhanced Analytics and AI Integration
- Market-based and Dynamic Pricing
- Personalization and Flexibility
- High Integration Capability
- User-Friendliness and Accessibility
- Conclusion
Enhanced Analytics and AI Integration
When discussing digitalization these days, you can't avoid the two most important topics: data analysis and artificial intelligence. And with the emergence of new technologies, it is to be expected that pricing software will focus even more than before on the implementation of enhanced analytics and AI features. This helps to accomplish tasks like:
- Analyzing vast datasets for optimal pricing strategies
- Creating sales forecasts and dynamic price adjustments
- Identifying pricing opportunities and optimizing strategies for maximum profitability
These improved functionalities allow pricing optimization software to analyze the growing amounts of data, such as market trends, competitor prices, and customer behavior, to optimize pricing models. For example, MARKT-PILOT‘s solutions analyze more than 10,000 data points for our customers to support their spare parts pricing strategy.
By leveraging the machine learning algorithms of pricing software, manufacturers can gain price intelligence to predict demand fluctuations and adjust prices in real-time, ensuring they remain competitive while maximizing profits. The continuous use of AI not only makes the software more efficient, but also saves those responsible for pricing a lot of time in determining the right pricing strategies for their machines and spare parts.
Market-based and Dynamic Pricing
The shift from cost-plus price models to sophisticated market-based and dynamic pricing approaches is facilitated by modern pricing software. It allows manufacturers to set prices based on current market conditions and in real-time, including supply, demand, and competitor prices.
Moreover, these price management software solutions supply market data and competitor information directly, empowering manufacturers to adjust prices dynamically based on market changes. Ultimately, software for manufacturers can uncover unrecognized potential in pricing and increase sales and customer satisfaction.
Personalization and Flexibility
The trademark of succesful pricing optimization software for 2025 is the grade of flexibility it offers. Considering the complexities OEMs face in the current market and given the ongoing digitalization of company structures, there is a growing demand for personalized pricing solutions. Key features include:
- Ability to set individual prices for specific markets, customer segments, and promotions
- Flexibility in handling prices for great amounts of potential product configurations
- Definition and consideration of custom price policies for strategic and key customers
With these levels of granularity, pricing software hands manufacturers the tools to optimize the pricing for their entire product portfolio with the possibility to react to individual needs and use cases.
High Integration Capability
With the ongoing digital transformation of the machine manufacturing industry, OEMs are increasingly relying on large volumes of data from multiple sources, such as ERP systems, CRM platforms, and market intelligence tools. Focusing on a high integration capability allows pricing software to seamlessly pull in data from the various existing internal and external sources. Main features and benefits are:
- Seamless connections to CRM and ERP systems
- APIs enabling the connection of pricing software with sales tools
- Centralized data management for pricing, promotional and discount campaigns
A high integration capability ensures efficient pricing and data consistency across the enterprise by creating a unified view of market trends, customer behavior, and competitor pricing. Companies can future-proof their pricing strategies, respond effectively to market trends, and position themselves for long-term growth.
User-Friendliness and Accessibility
Digital Transformation needs to be handled very carefully as it means a major change in the everyday working lives of employees. And every change is often accompanied by fears and refusal. In order to increase internal acceptance and create a positive user experience, pricing software – or any software in general – needs to as user-friendly and generally accessible as possible. This includes functions such as:
- Intuitive dashboards and forecasting capabilities
- Simplified reports and analyses for users without technical expertise
- Mobile access for sales teams to retrieve real-time pricing information
With these functionalities, pricing strategies can be easily implemented and applied across the organization. The acceptance of the digital transformation is increased even for non-digital users which ultimately raises the chances for a succesful implementation and use of the pricing software. Because only if the responsible parties such as pricing managers can intuitively use the tools handed, the desired outcome can be granted.
Conclusion
The future of pricing in the machine manufacturing sector lies in the hands of modern tools, opening doors for dynamic pricing software to establish market-based pricing strategies. The expected trends and features for pricing software in 2025 reflect the growing need for agility, data-driven decision-making, and customer-centric approaches, helping companies remain competitive in an increasingly complex and dynamic market environment.
MARKT-PILOT as solution provider is pioneering the market-based pricing sector with innovative spare parts pricing software. It already combines the major trends of enhanced data analysis and evaluation through artificial intelligence. Request a personalized demo with one of our experts and learn more about how MARKT-PILOT leverages the latest trends of pricing software.