NEW YORK and LONDON, Oct. 05, 2021 (GLOBE NEWSWIRE) -- McKinsey & Company today announced that Periscope by McKinsey, a suite of marketing and sales analytics solutions that helps companies achieve sustainable revenue growth, has been named a leader in the 2021 IDC MarketScape: Worldwide B2B Price Optimization and Management Applications. IDC MarketScape is the IT industry's premier vendor assessment tool, providing in-depth quantitative and qualitative technology market assessments.
Whether they are B2B manufacturers or distributors (in sectors ranging from automotive, materials, and chemicals to heavy equipment and machinery and medical devices), banks, or high-tech organizations, businesses need dynamic pricing approaches if they are to outperform their peers. Periscope by McKinsey, together with McKinsey's end-to-end strategic consulting services, delivers a comprehensive pricing solution that includes strategy, process, technology, change management, and training, all fully customized to meet the goals of the clients. This empowers pricing decision makers to set optimal prices and get the most value out of every transaction.
Periscope by McKinsey was cited for the following strengths:
- Comprehensive pricing services and technology – Periscope by McKinsey offers customers a premium end-to-end pricing solution to ensure a high success rate of the pricing strategy and adoption. Because of this, customers highly rated Periscope's level of value delivered.
- Ease of use - Customers highly rated Periscope for ease of use. In many cases, the interface was customized for their implementation making it uncluttered and easy for training purposes.
- Implementation and customer service - Customers highly rated Periscope's implementation experience and ongoing customer service. They liked that Periscope was proactive in many cases and addressed issues quickly.
"If your company makes, distributes, or sells a significant number of offerings, you should strongly consider a price optimization and management solution," says Mark Thomason, research director for IDC's Digital Business Models and Monetization program. "Today's solutions can significantly automate your company's revenue strategy from price setting to execution and enable salespeople and e-commerce to efficiently sell at the optimal price."
“Realizing business impact is top of mind for our clients. That’s why we are bullish when it comes to consistently innovating our world-class portfolio of tech-enabled solutions to help our clients drive pricing transformations and create value quickly and sustainably,” said Tobias Wachinger, senior partner and global leader for Periscope, McKinsey & Company.
“Pricing is the most impactful, underutilized lever for growth,” said Stuart Schardin, partner and leader for Periscope, McKinsey & Company. “Getting the price right demonstrates that a company fully understands the value it delivers and enhances its ability to deliver that value going forward. Bringing science to the art of price setting through Periscope’s pricing solution enables clients to execute with precision and agility while improving their return on sales. When done well, companies can generate two to seven percentage points of sustained margin improvement.”
The 2021 IDC MarketScape for B2B Price Optimization and Management Applications report can be accessed here.
About IDC MarketScape:
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
About Periscope® by McKinsey
Founded in 2007, and now a part of the McKinsey Marketing & Sales Practice, the Periscope® by McKinsey platform combines world-leading intellectual property, prescriptive analytics, and cloud-based tools with expert support and training. It’s a unique combination that drives revenue growth, both now and into the future. The platform offers a suite of Marketing & Sales solutions that accelerate and sustain commercial transformation for businesses. Periscope leverages its world-leading IP (largely from McKinsey but also other partners) and best-in-class technology to enable transparency into big data, create actionable insights and new ways of working that drive lasting performance improvement, and typically sustain a 2–7% increase in return on sales (ROS). With a truly global reach, the portfolio of solutions is comprised of: Insight Solutions, Marketing Solutions, Customer Experience Solutions, Category Solutions, Pricing Solutions, Performance Solutions, and Sales Solutions. These are complemented by ongoing client service and custom capability-building programs.
To learn more about how Periscope’s solutions and experts are helping businesses continually drive better performance, visit www.mckinsey.com/periscope.
About Marketing & Sales, McKinsey & Company
The mission of the McKinsey Marketing & Sales Practice is to help leaders of both consumer and business-to-business clients create Growth that Matters through meaningful transformations and marketing-driven profit. The practice helps its clients set their strategic direction, develop their marketing and sales capabilities, and connect their organization to realize the full potential of today's omnichannel opportunities. Clients benefit from McKinsey’s experience in core areas of marketing such as branding, customer insights, marketing ROI, digital marketing, CLM pricing, and sales and channel management.
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