CFO Talk: The CFO Pricing Pyramid with Anne Warren
Steve had an insightful conversation with Anne Warren, Founder of Price Profitability Advisors, on CFO Talk. They delved into the crucial topic of pricing and the impact CFOs can have on their business by going all in on this key aspect of revenue generation.
Here are some key takeaways from their discussion:
- Understanding the pricing pyramid: Pricing can be simplified into two major groups - new product pricing and day-to-day pricing processes. The latter is an area where CFOs can significantly contribute to improving profitability.
- Importance of clean data: Having transparent data is essential as it enables breaking down pure price impacts versus product mix implications. Customer profitability by SKU, product, and salesperson provides a clearer understanding of pricing and aids in achieving bottom-line improvement.
- The value of partnership and collaboration: CFOs can drive change and improvement through a partnership with pricing, marketing, and finance teams. By establishing a process with governance and efficiency, CFOs can be responsive to sales while ensuring accountability and control.
Pricing empowered CFOs make a significant impact on their company’s performance.
How has pricing impacted your organization, and what steps have you taken to improve it?
#CFO #PricingStrategy #FinanceLeadership #CFOInsights #BusinessStrategy #CFOUniversity
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