Terex Elevates Its Parts Pricing Strategy With Syncron

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With Syncron Price, Terex can identify unseen pricing opportunities that maximize sales volumes, revenue and service profitability from aftermarket business. With customizable dashboards and ad-hoc reports, pricing managers can analyze pricing data to identify opportunities for greater profitability across the entire supply chain.

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Syncron Price uses advanced technology to identify hidden pricing opportunities that positively impact business performance by maximizing sales, revenue, and service profitability.

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Full transcript

Kai Ostendorf, Director, Global Parts Strategic Pricing, Terex Corporation:
As we have customers in many different regions around the world—we have also local competitors—which means we need to price more on customer and on part number level and on regional level to achieve our optimal prices. The biggest challenge prior to the Syncron Price implementation was visualization of data, from basic item information over sales cost and price history. And to include that in our pricing logic was quite complicated and also not very effective. Data was becoming more and more, and we couldn’t handle that anymore in Excel spreadsheets. With Syncron Price, we could overcome those challenges.

Kumar Nandlal, Parts Analyst & Administrator, Franna – A Terex Brand:
The best thing about Syncron Pricing is that it has a wonderful user interface, which easily attracts the user to work on it. It is a simple, but very advanced tool. Pricing upload can be done quickly due to quick interface between Syncron and the ERP system. Further changes can be done in list price calculation by detailed pricing logic. This results in better customer experience by frequent, fair and realistic price updates.

Bronagh McConnell, Price Analyst, Terex Corporation:
Having our Syncron Price integrated with our ERP system means that we have the most up-to-date data at all times. And that’s important because it keeps the process moving. At any point in time, I can see where that case is. If we were to increase or decrease a price, it will clearly define the impact to the business that will have.

Kumar Nandlal:
Syncron Price has made our process very efficient by tracking individual price history, and everyone can see the real changes for the price. Pricing data can be quickly uploaded, and availability of all the relevant information and pricing parameters is at one place so you can make decisions pretty quick and efficient.

Kai Ostendorf:
The Syncron solution is really helping us to improve on our pricing journey—and with that, to improve our customer experience and to meet our financial targets.