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Business Case

Scenario Tables Designs (3)

Gaining Centralized Control

Over Pricing

In numbers:​ 
65% Reduction in Time
80% SKUs Coverage 
$1.3 million Savings
7% Revenue Growth

Business Challenge:

With its decentralized governance model, a leading international veterinary care provider encountered major issues in managing its revenue throughout its network of 450 clinics spread over 14 countries.   

The local decision-making strategy resulted in inconsistent customer offerings and pricing tactics, resulting in a lack of agility in responding to market dynamics.   

Furthermore, crucial data was scattered across various clinics, hindering timely analysis and decision-making. The absence of a centralized pricing system made it difficult to track pricing actions and evaluate their effectiveness. 

Solution:

Recognizing the need for a comprehensive revenue management solution, the company partnered with Revenue AI to develop capabilities across five key dimensions for success: 

  • Tools: Revenue AI implemented advanced algorithms to create a unified product and service master, streamlining data uploads across the organization. The introduction of the RAI Pricing Platform enabled the company to receive data-driven pricing recommendations. 
  • Culture & Performance: Leadership played a vital role in reinforcing product governance, promoting a unified approach to decision-making across clinics and countries. 
  • Process: Revenue AI worked closely with the company to set up an efficient pricing process, integrating the right tools to ensure a seamless workflow. 
  • People: Key users within the company received comprehensive training and enablement in Revenue Management and Pricing. This empowered them to make informed decisions using the newly implemented solution effectively. 
  • Data: Revenue AI enhanced data streams within the organization, leveraging their algorithms to process and analyze data effectively, leading to valuable insights and improved decision-making. 

 

Solution Suite:

  • Instant Data Unification – by adding RAI Dex, the next generation Data Steward, as a virtual team member  
  • RAI Base: AI Augmentation for Data Analytics  
  • Digital module was developed to ensure daily data scraping from competitors, that works as an alerting system that would immediately notify the customer if pre-aligned KPIs were dropping below a threshold, and precision pricing and profitable mix modules to augment the development and execution of new pricing strategies. Learn more here. 

The Transformation:

By addressing these critical dimensions, the company successfully transformed its revenue management practices and achieved the following outcomes: 

  • Centralized Control: With the implementation of Revenue AI’s solution, the company gained centralized control over pricing strategies and offerings, ensuring consistency across all clinics and countries. 
  • Timely Decision-Making: The streamlined data processes and pricing platform enabled the company to respond promptly to market dynamics, capturing opportunities and staying ahead of the competition. 
  • Visibility & Insights: The newfound visibility over pricing actions and results allowed the company to make data-driven adjustments and optimize revenue performance. 
  • Increased Efficiency: Automation and data-driven insights led to improved operational efficiency, allowing the company to focus more on strategic revenue growth initiatives. 
  • Enhanced Revenue Performance: By leveraging Revenue AI’s algorithms and platform, the company witnessed improved revenue performance and profitability across its clinics. 

Transformation Results:

  • Unified product and services data
  • Actionable insights on pricing
  • 80 % portfolio coverage
  • Automated data upload
  • Platform operational price recommendations

Table of Contents

Solution Suite:

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INSTANT DATA UNIFICATION

Harmonizes datasets from various sources in real-time and provides the user with a 360-degree view of the market 

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