What is PraaS?
PraaS means Pricing-as-a-Service which means the use of pricing consultants or pricing tools as a managed service from a specialist third party.
3 Core Components of PraaS
The three core components of Pricing-as-a-Service include:
- Pricing Training – hire specialist pricing trainers who can build a curriculum for all your staff on the finer points of pricing. Everything from giving new staff introductions to why pricing matters, right through to how to build value propositions for your goods or services.
- Price Management – hire specialist pricing consultants on a retainer to make daily, weekly, monthly, quarterly, yearly pricing decisions on your behalf as they analyse your business statistically, cut through the data noise, and apply pricing theory to help you identify the optimum price point for your goods or services.
- Pricing Software – buy off-the-shelf/ready-made pricing software that will enable you to implement advanced pricing rules easily, analyse your pricing, and help you optimise and tweak your prices for increased profitability.
