(In the picture above: Carst Vaartjes – Co founder visualfabriq, Anne Teague – former CIO Heineken and Michael Kantor – CEO POI)
As a sponsor and presenter at the 2016 Promotion Optimization Institute (POI) Summit, recently held in Brussels, the Visualfabriq team had an outstanding opportunity to engage with our customers and industry. The theme this year was Collaborate Globally and Execute Locally, and we were delighted that Former CIO of Heineken, Anne Teague and Visualfabriq’s Carst Vaartjes presented together at the summit on the subject of Trade Promotion Optimization.
With a unique SaaS solution, Trade Promotion Master™, designed and developed specifically to vastly improve, and fundamentally change the game of trade promotion management, Visualfabriq had valuable insights to share at the POI Summit.
Because the life’s work of most of our team members is deeply rooted in the FMCG industry, we know exactly what is needed to optimise trade promotions. We know first-hand that when it comes to trade promotions that the great failing has always been the lack of information at the time when you most need it so that you can effectively plan, manage, track and evaluate your promotion. Sales teams always had a wealth of data – but it’s been Big Data, and they have struggled with a complete lack of generating real-time, actionable insights.
What is typical for companies in the FMCG industry is that over time they make many acquisitions and divestments in how they manage data capturing, processing and management. This results in diverse data processes and an incongruent, disconnected systems landscape; which in turn, leads to a great variety of applications and multiple instances of systems of record. Sometimes processes are not always reviewed, and it is also not uncommon for systems to not be regularly upgraded. There’s little or no sharing of best practice and so, constant reinvention sucks up the budget that could otherwise be allocated to real development.
How does this translate into a SaaS solution for optimal trade promotion management? Well, Anne and Carst answered that question at the 2016 POI Summit. Gartner defines SaaS as: ‘Software that is owned, delivered and managed remotely by one or more providers. The provider delivers software based on one set of common code and data definitions that is consumed in a one-to-many model by all contracted customers at anytime on a pay-for-use basis or as a subscription based on use metrics.’ With a SaaS solution like Trade Promotion Master™, you have the opportunity to overcome pitfalls from the past, streamline today’s solutions and operate off one trade promotion management platform with one interface. You have complete flexibility to to determine and set–up what will be global and what will be local, and better understand what will never be global.
As an affordable SaaS solution, Trade Promotion Master™ offers a single point of entry to managing a trade promotion that always has all the products and prices. It provides insights into predicted competitor timing, machine learning-driven simulation during entry, evaluation data retrieval and calculations, business rules for Demand Management, Sales and Finance, and SoX compliance logging.
What have we seen so far amongst our pioneering clients?
- For one client, managing their promotions using Trade Promotion Master™ led to a to 50% drop in promotion-related work for account assistants. (There was also decreased pressure on other parts of the organization such as pricing, master data and order entry)
- We have clients who have experienced improvements in individual promotions that earned back their annual SaaS license fee
- Automated pricing interfaces and updates have led to 80% reduction in promotion-related credit notes
- With a drop in dispute handling, our clients have also improved their working capital
- In practice, we see anything between 20 to 60% of promotional forecast accuracy on an account-week-product level for manufacturers. With machine-learning models this can often be brought up to 70 to 80%
- A client has earned back their yearly SaaS license costs by just discussing one to two retailer-proposed promotions with better alternatives
Faster. Better. Cheaper. This is why Visualfabriq already has FMCG giants such as Unilever, Heineken, Perfetti van Melle and Tiger Brands as clients. With Trade Promotion Master™ you can plan, track, optimize and evaluate the entire promotion process at one single point of entry within minutes. Welcome to the World of Visualfabriq.