Growth in a Challenging Market
Energy companies spend a lot of time manually compiling disparate information: volatile feedstock costs, oil market fluctuations, competitive behavior, production metrics, realized wholesale and street margins, freight, and carrying costs. Often this analysis relies on multiple, unintegrated, and often home-grown legacy systems. There are additional factors complicating this analysis: pricing windows are dramatically shortening, and the sheer volume of data required to factor into an optimized price is increasing exponentially.
As we’ve seen in 2020 with significant drops in prices and demand, the global energy industry is highly interconnected and is becoming increasingly complex. These complexities require granular analysis and a new way of thinking through how to sell and set prices accurately and efficiently to continue to win profitable new business.
To maximize margins and profitability, energy companies must focus on delivering the best possible buying experience to customers by transforming end-to-end pricing and selling processes. Digitally transforming these processes has the greatest impact on the business by optimizing margin and volume. It also provides the flexibility to dynamically change pricing and selling strategies in the face of disruption, which is almost inevitable in the energy industry.
PROS provides a single, dynamic, scalable, AI-powered commerce platform that enables energy companies to transform their end-to-end pricing and selling processes to offer a frictionless and personalized customer experience. Our integrate platform provides best-in-class analytics, pricing, and selling solutions.
Top 3 Insights in this Executive Brief
- A fuels company gained $13.4M in one year (34 basis points of margin on 4 billion gallons of fuel) by more accurately forecasting competitive price movements.
- A multinational oil and gas company improved margins by $350 million with the ability to react quickly to market forces and prevent destructive price erosion.
- An energy company tripled margin improvements projected by executive management by more accurately setting market prices.
Additionally, Learn How PROS Enables Energy Companies to
- Predict Competitive Price Moves
- Take Advantage of Changing Market Conditions
- Eliminate Negative Margin Transactions
- Optimize Margin, Volume, and Price
- Execute Intraday Price Changes
- Make Wiser Pricing Decisions
- Harmonize Contract and Online Pricing
- Equip Pricing Analysts
- Improve Negotiating Power