{"id":4581,"date":"2024-09-18T20:13:18","date_gmt":"2024-09-18T20:13:18","guid":{"rendered":"https:\/\/solutionsreview.com\/business-process-management\/?p=4581"},"modified":"2024-09-27T20:15:29","modified_gmt":"2024-09-27T20:15:29","slug":"growth-strategies-get-an-upgrade-ai-use-cases-in-pricing-selling-and-incentives","status":"publish","type":"post","link":"https:\/\/solutionsreview.com\/business-process-management\/growth-strategies-get-an-upgrade-ai-use-cases-in-pricing-selling-and-incentives\/","title":{"rendered":"Growth Strategies Get an Upgrade: AI Use Cases in Pricing, Selling and Incentives"},"content":{"rendered":"
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\"Growth<\/p>\n

Alex Hoff, the Chief Profit Evangelist at Vendavo<\/a>, explains how growth strategies are upgrading and shares some AI-centric use cases. This article originally appeared in Insight Jam<\/a>, an enterprise IT community that enables human conversation on AI.<\/span><\/strong><\/em><\/p>\n

\"\"<\/a>Manufacturers and distributors are adopting a combination of financial strategies to drive growth in 2025 amid a complicated global economy. They have found higher revenues come with a unified approach to pricing, selling, and rebate management initiatives, but execution isn\u2019t always straightforward. AI brings a new level of intelligence and efficiency to each approach, but most don\u2019t use it yet.<\/span>\u00a0<\/span><\/p>\n

Finance and sales leaders rank AI implementation as their organization’s greatest challenge in the\u00a0<\/span>2024-2025 Top Growth Drivers Report for Manufacturing and Distribution<\/span><\/span><\/a>. But\u00a0it\u2019s\u00a0also their biggest growth opportunity.<\/span>\u00a0<\/span><\/p>\n

The Need for Buyer Insights<\/strong><\/span>\u00a0<\/strong><\/span><\/h3>\n

The new study reveals top strategies for driving growth and profitability in 2025 are enhancing channel\/partner programs (60 percent), rebate programs (56 percent), price optimization (54 percent), and advanced RevOps tools and processes (54 percent). <\/span>\u00a0<\/span><\/p>\n

Effective execution of each requires in-depth knowledge of buyer sentiment and behavior, but the challenge lies in compiling and analyzing inevitably large data sets from disparate systems. Manually, this requires hours of tedious, error-prone work, and scaling across customer and prospective customer lists is nearly impossible. Adopting purpose-built technology solves some of this heavy lifting, yet 35 percent of manufacturers and distributors say they rarely or never use technology to improve their company\u2019s pricing and incentive strategies, let alone AI.<\/span>\u00a0<\/span><\/p>\n

AI can rapidly and more accurately analyze the data necessary for each strategy, predict future customer actions, and provide timely pricing and selling guidance that maximizes competitive advantage. According to the study, one-third of manufacturers and distributors say they don\u2019t use AI in their price optimization and rebate management efforts or do so only on an ad hoc basis. <\/span>\u00a0<\/span><\/p>\n

Sales, service, and support-driven communication will\u00a0reveal important customer and partner insights\u00a0and\u00a0help\u00a0strengthen relationships. But\u00a0there is no substitute for technology-driven fact-finding, automated updates, and AI-powered analysis.<\/span>\u00a0<\/span><\/p>\n

AI Use Cases<\/strong><\/span>\u00a0<\/strong><\/span><\/h3>\n

How can AI level up growth strategies? Process automation is an essential first step. AI-fueled intelligence with final calculations approved by users is where you gain even more value. Here are some current \u00a0AI use cases:\u00a0<\/span><\/p>\n