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Case Study

Implementing Pricing Best Practices

Client Situation:

A leading biotechnology company was experiencing a great deal of change as they grew at a brisk pace, even ahead of their emerging market sector. Executives recognized that active management of pricing was a significant lever for value creation and maintaining their market leadership position. They also realized that their current pricing processes could not handle increasing demands brought on by rapid growth.

Approach:

Using a highly collaborative approach and leveraging its deep pricing process expertise, the Rapt team examined the company's current pricing structure and data through in-depth analysis and executive interviews in order to identify gaps relative to best practices. Rapt worked with the client team to develop an end-state vision, change roadmap and change calendar to help the client make their vision a reality. Through this initiative, Rapt delivered insights and plans critical to successful development of pricing and profitability management capabilities.

Impact:

Rapt delivered specific and actionable recommendations with a goal of helping the client develop a best practice pricing organization and process. As a result of the project, a pricing group was created and a Director was hired to oversee the client's pricing activities. Rapt developed a future-state design and feasibility assessment for a new pricing process and strategy and identified standard analysis to be performed by pricing team with improved tools and data capture. Today, the client continues down the path specified by Rapt.