The price is (more) right
A 'CFO Magazine' article
Improved technology–and leadership from finance–may help companies optimize their margins.
As companies start looking for ways to maintain margins, vendors that provide price optimization tools are front and center. These tools can help provide organizations with insight to support profitability, defend margins and set competitive prices. So who's the driving force behind getting the price right? In many cases, it's the CFO.
In the recent CFO Magazine article, "The Price is (More) Right," Deloitte Consulting LLP's Mike Simonetto talks about how getting pricing right can keep organizations ahead of their competition. Co-author of the book Pricing and Profitability Management: A Practical Guide for Business Leaders, Mike also discusses the needed involvement of the CFO in making pricing decisions. "Men and women still need to sit down and make these decisions," he said. "There has to be a smart person who understands the business to determine if the price is really right. The person best suited to manage the margin is the CFO."