ATLANTA and SYDNEY – 20 January 2014 - Wipro Promax Analytics Solutions (WPAS), announced today that it has received its fourth consecutive CGT (Consumer Goods Technology) Award - the 2014 Readers’ Choice Best in Class for Trade Promotion Management (TPM) solutions.
Thank you to our valued Promax PX users for this prestigious honour.
CGT is the leading US based business and technology resource for the Consumer Goods industry. CGT is committed to helping consumer goods executives improve business performance through integrated media that delivers actionable insight, benchmark analysis and critical networking opportunities. For the 13th year, CGT asked its 70,000+ subscriber base of influencers and business-decision makers across business and IT, to identify their most valued and used solution and service providers across 10 categories including Trade Promotion Management and Optimization.
Contact us to learn more why leading CPG companies chose Promax PX as their TPM/TPO solution providing their business with a rapid ROI.
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According to a recent Nielsen report, 53 per cent of suppliers surveyed conveyed their biggest concern is pressure on trading terms, an inability to pass on price increases and the increasing cost of serving major retailers. Forty-two per cent of suppliers say volume has grown but only 34 per cent saw profit growth and 22 per cent had profits fall. With consumers switching supermarkets for as little as a 5 per cent price change, it’s no wonder there is more and more pressure on suppliers to invest heavily in trade promotions to gain or at least retain market share.
At many CPG companies, promotion planning, volume planning and annual business planning are executed via separate mechanisms with varying levels of sophistication. Companies with an upgraded TPM strategy saw 80% better gross margin and 121% better revenue uplift from their promotions as recently documented by Aberdeen Research.
When achieving sales and profit targets is your number one priority, data accuracy is paramount! Lack of integrated processes can create a disconnect between the sales and supply chain teams, leading to missed opportunities, inefficiently executed and underperforming trade promotions and potentially wasted dollars. Learn how some of the world’s leading brands are hitting their sales targets with the benefits of a fully integrated Trade Promotion Management and Optimization solution.
As any Trade Marketer or Key Account Manager knows – when the majority of your business is funnelled through a few major retailers it can make for a very high pressure environment. The dominance of these major accounts can often put intense pressure on the supplier with the constant threat of products (or entire brands) being delisted if suppliers don’t meet the increasing demands for trade funds. The result can mean diminishing supplier margins which are unsustainable.
We’re all familiar with Pareto’s 80/20 rule – you know that broadly 80% of your sales comes from 20% of your client base and 20% of your product range represents the majority of your sales. With sometimes as few as just three retailers representing a significant share of your business, managing this grocery channel effectively and efficiently is critical.
In modern trade markets, the amount of Trade Funds spent in major accounts such as Wal-Mart and Kroger (USA), Carrefour (France), and Woolworths, Coles and Metcash (Australia) often makes up the lion’s share of your total trade spend budget. In the more traditional and emerging markets such as Asia and EMEA where they have a large quantity of “Mom & Pop” stores, the route to market and fragmented promotion costs through various wholesalers is the more dominant factor when considering trade funds. As with any significant investment, you want to make sure that you are spending this money wisely to maximise ROI and to protect and grow the relationship with these highly influential and valuable customers. Given the nature and complexities in the global retail market place its imperative that the supplier has the ability to track, predict and control their trade spend.
OVERVIEW OF NEW FUNCTIONALITY IMPROVING THE MANAGEMENT OF YOUR TRADE FUNDS
The Promax PX Trade Promotion Management (TPM) and Trade Promotion Optimization (TPO) solution is 100% focused on Consumer Goods and the OTC Pharmaceutical and Consumer Health product manufacturers, and specifically targets the second largest cost component of most manufacturers’ business: trade spend.
Promax PX V9 continues to provide complete promotion execution, tracking and management capabilities that seamlessly automate each step of the TPM process. Coupled with this is Promax’s unique powerful optimization and analysis capabilities that enable customers to evaluate the effectiveness and efficiency of a promotional programme with real-time predictive analysis to guide optimal execution – before the trade funds are spent. With this level of insight, Wipro Promax Analytics Solutions’ (WPAS) customers can improve both the profitability and productivity of their trade spend.
The Promax PX Version 9 Overview document examines the new functionality available in Promax PX Version 9 and how these enhancements will benefit your business.