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Vistaar Announces Record Year
Vistaar Announces Record Year
March 29 2013
While the jury is still out on whether the price management software market is lucrative and blossoming, at least price management solutions provider
recently announced that it
closed 2012 with record customer growth
and expanded implementations. Vistaar’s continued leadership in the beverage alcohol industry, with a
strong presence in spirits
, was marked by expansion into the wine and distribution markets. Moreover, one of its most significant 2012 wins was with
GE Energy Management
, which designs technology solutions for the delivery, management, conversion, and optimization of electrical power.
With a number of former
staffers as founders and employees of Vistaar, the company's
original core engine
was planning and analytics for sales and marketing processes—using read-write in-memory online analytical processing (OLAP) to provide sophisticated analytics, scenario analysis, etc. (the “write” part is critical if you are making pricing recommendations). The vendor eventually settled on pricing as a key area of opportunity because it realized that a number of markets were under-served. Its new read-write in-memory OLAP engine now supports a hybrid of in-memory and disc-based technology to manage big data scale pricing problems. Vistaar can cater to the whole pricing lifecycle, including the following realms:
Price planning and analytics
, including segmentation into appropriate buckets to set appropriate prices.
, which in certain markets includes optimization, and includes setting price lists and price guidelines, managing price structures and contract pricing, etc. It also includes business rules, which are useful in dynamic pricing.
, which are the tools to help sales teams execute on the price list and price guidelines, and includes integration with salesforce.com.
Simplicity and Configurability Help
Vistaar has been able to gain accounts with customers that have a specific pricing strategy but for whom traditional packaged tools are not a good fit. In general, prospective customers are looking for a (funded) proof of concept to better define the solution, data requirements, and readiness, and to develop a business case before they go for a big license. That situation serves Vistaar well as it can scope out the solution with value packages in areas including elasticity modeling and price optimization.
Vistaar’s main differentiator is the system’s configurability—each pricing solution and strategy is different and needs flexible business rules, workflow, data model etc. Vistaar excels with the integration of the overall pricing engine and the configurability of the engine. The Entity Services capability allows Vistaar to extend the data model and reflect those changes in other components, like the rules engine. Its new business rules engine has an interface that allows users to actively manage pricing decision rules/strategies without IT involvement. The system also enables visual data exploration and manipulation by business users using intuitive, interactive, and data driven graphical chart controls.
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