Study: Price-setting concerns plaguing CFOs
It’s a grim scenario: Commodity prices are on the rise, but finance chiefs don’t think they’ll be able to pass those increases on to customers. What’s worse, they aren’t sure what their pricing strategy should be.
That’s the picture a recent Accenture study painted of CFOs’ current predicament.
According to the report, 70% of finance and marketing execs said their firms currently had an “unclear” pricing strategy.
So, why the lack of clarity when it comes to pricing? Sixty-nine percent of the execs said they lacked important pricing analytics, and 64% said they were struggling with inadequate decision-support tools.
One problem that’s holding many firms back: Even firms that do have a number of automated price-setting tools lack the necessary integration of those tools with their various software programs.
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