Beam Inc. Successfully Expands Vistaar Implementation to Drive Pricing Strategies
Vistaar Technologies, Inc., a provider of price management solutions, announced today that Beam Inc. has completed the third major phase of its Vistaar beverage alcohol pricing solution implementation. With Vistaar, Beam has been able to better manage its multiple-state pricing protocols while enabling visibility across the entire three-tier value chain to improve price management decision making. Beam’s pricing system includes 130 users across marketing, sales, and pricing, and helps manage prices for 3,500 unique SKUs across the company’s 75 U.S. distributors.
Beam’s Vistaar pricing system has been live since September 2009, facilitating improvement in the company’s price execution process. During the first two phases of the Vistaar implementation, Beam established a standardized price structure planning platform to drive price execution with its distributors. The third-phase rollout includes the latest business release of the Vistaar pricing solution, providing greater enterprise visibility to activity across price structures and workflows. The latest Vistaar version also enables deal-level evaluation, distributor margin evaluation, brand comparisons, better visibility into national account pricing and improved price structure execution with more informed price changes.
“Vistaar has greatly impacted Beam’s ability to develop and deliver effective price strategies,” said Brendan Lynch, senior director of North American strategy and revenue management with Beam, which has had a successful first quarter price increase across many brands in its portfolio. “Each successive phase of implementation has increased value chain visibility and improved our ability to manage price, promotions and mix. We anticipate our expanded Vistaar solution will further our insights and identify pricing and growth opportunities.”
“We are pleased that Beam continues to successfully leverage the Vistaar beverage alcohol pricing solution to improve its bottom line results and deliver greater value to its customers,” said Manoj Menon, vice president of product management with Vistaar. “Vistaar’s proven pricing technology leadership and innovation will continue to help Beam meet the challenges associated with pricing its large product portfolio in a complex marketplace.”
About Vistaar Technologies, Inc.
Vistaar is a leading provider of price management solutions that enable companies to achieve pricing best practices through price analytics, price optimization, price list management and deal management. Its technology transforms pricing operations into a strategic advantage for some of the world’s largest manufacturers, distributors and service providers. For these companies, Vistaar pricing solutions drive measurable price and margin improvements to deliver profitable growth and maximum shareholder value. Vistaar’s operations include six offices across North America, Europe and Asia. For more information, visit www.vistaar.com or call at (973) 581-6300.