Director, Global Pricing
Reporting to the CMO, the Director of Global Pricing will lead the pricing transformation of the company, working with key stakeholders to develop, implement and continuously evolve a global pricing program that is competitive and relevant for a capital equipment, services and software technology company. In this role, the candidate will research, analyze and develop an understanding of market considerations for pricing strategy, including approaches of key competitors, value based approaches, monetization model strategies and identify the pricing models needed to support an effective and competitive go to market strategy.
In this role, the candidate will conduct market research into considerations and innovative approaches for pricing within the automation devices, software and managed services space, develop pricing strategies and help support the execution of effective pricing processes and models. The leader will manage a team that is responsible for facilitating the pricing, and packaging strategy development for Omnicell solutions and providing cross-functional consultation to various groups such as Product Management, Product Marketing, Finance and Sales. This includes working with division and global region partners to assess needs, develop pricing strategies, and coordinate execution of pricing programs that ultimately deliver growth and increase customer retention. In additional to being data oriented and tactically proficient, this role is highly strategic and focused on driving innovation and change via key market strategy and research initiatives and programs.
- Defines, develops, evaluates and oversees the implementation of pricing models and strategies designed to optimize revenue, market share, brand positioning and long-term profits.
- Partners with key stakeholders to correctly position product portfolio and establish pricing programs aligned with product/sales strategy and revenue recognition requirements.
- Monitors the ongoing business environment to ensure competitive pricing/market position and directs the development and analysis of pricing models and projections
- Must validate our global pricing transformation strategy, business plan and budget in-line with the corporate strategy.
- Execute and evolve pricing programs that will deliver Capital quipment as a service, value based managed services and cloud subscription-pricing models and ensure the delivery of key pricing initiatives as part of Business Planning.
- Develop pricing strategies that support our portfolio to move into as a service and recurring revenue model
- Monitor global trends in sales and the market and draw conclusions about performance in order to recommend improvements to pricing strategies and tactics.
- Develop business needs for price setting and quote to cash IT systems
- Execute on price set up for each product line and monitor for quality control
- Undertake other pricing initiatives such as price discipline (budling, segment based price optimization, A/B testing, metrics, and price tiering) and lead the transition in our model from perpetual and capital equipment pricing to subscription pricing.
- Implement a long-term sustainable global pricing transformation program by using knowledge of the business, including system and product knowledge to understand, and develop pricing for customers.
- Support local pricing initiatives and supporting improvements by tracking the impact of pricing decisions over time and ensuring recommendations deliver the growth strategy by making adjustments as required.
- Use analytical skills and business intelligence methods and tools to build pricing infrastructures and communicate findings.
- Act as pricing owner for price positioning in local portfolio for new, existing and sunset products.
- Managing customer discounts and build compelling transition models to migrate customers to target offerings.
- Work closely with other pricing experts and stakeholders to gather data, create reports and forecasts, and test conclusions to deliver key priorities.
- Work closely with product teams and corporate strategy owners to support key motions and initiatives related to the corporate strategy
- Financial and business acumen
- Strong financial modeling and analysis skills
- Experience of delivering pricing solutions in a similar software / technology environment including price and planning transformation programmes and programme management.
- Strong commercial, quantitative and analyzing skills with the ability to deliver revenue and Profit growth initiatives and influence business strategy.
- Recognized training a plus (such as Certified Pricing Professional by the Professional Pricing Society https://pricingsociety.com/cpp/)
- Driven and resourceful with high levels of attention to detail and quality control.
- Excellent Excel skills
- The ability to communicate and influence at a senior level.
- Strong business acumen and able to look at strategic and long term consequences of actions.
- Experienced at working in a multi-national environment.
- Bachelor Degree
- 10+ years of experience in marketing, finance or product management
- 5+ Experience within the capital equipment / devices industry
- 5+ years of pricing and analysis leadership experience
- 5+ years of experience managing a team of pricing analysts
- 2+ years domain expertise in setting up and executing “as a service” pricing model
- 2+ years’ experience in marketing within the healthcare industry
- 2+ years’ experience in marketing B2B SaaS products
- 2+ years’ experience in marketing B2B capital equipment products
- Office Environment
- 30% or more travel
- Managing employees remotely