The Challenge: Inconsistency, price-related complaints, and preventing insult pricing 

• Pricing adjustments required significant manual effort to collect market prices and calculate new prices, resulting in a low frequency of price changes.
• Pricing maturity varied across different active markets, leading to price-related complaints and challenges.
• Need: Greater control over commercial policy to improve customer NPS by preventing insult pricing. 

Before Omnia: Understanding the customer’s initial challenge 

Philips, one of Omnia's longest standing partners, has achieved continuous growth through an agile methodology, the flexibility of Omnia's platform and a strong partnership through a customer success approach. 

Outline To Success 

2019 Initial launch  

• A successful pilot in the UK led to a full roll-out across 20 countries and 3 continents. 
  
  

2020 Approach Outline

• Agile approach combined with a strong partnership focused on customer success

• Fast start with simple pricing strategies and continuous optimisation 
  
  

2021 Building Parnterships 

• Strong partnership as trusted advisor - through individual account approach and team-to-team consulting 
  
  

2022 Ongoing Success

• Minimised time spent on manual work

• D2C channel sales increased by double-digit percentages after implementation, while the (absolute) margin also increased. 
  
  

2023 Continued Growth

• Price-related complaints reduced by 75%

• Software standardisation facilitates knowledge transfer
  
  

→ Ongoing Consistency

•  Improved pricing consistency leads to clear story to trade partners 

Key objectives

 Unified Market Approach:

 Philips was looking for a solution that could harmonise pricing across all active markets. Pricing was previously decentralised. Omnia provided a platform to strategically manage pricing across the organisation. 

Automated & Flexible Pricing Policy Implementation:

 The company wanted to leverage and increase revenue from its direct-to-consumer (D2C) channel. Price changes were infrequent due to the difficulty and inefficiency of manual price changes. With Omnia, pricing was made consistent and supported with data across all markets. This led to higher conversions and success in the D2C channel.

Unleashing Omnia: The power of reliability

The Solution

The primary solution was to create an environment where Philips could manage its pricing in a consistent way across countries.

Omnia's platform provided an easy-to-manage and comprehensive solution where Philips could monitor the performance of multiple channels across multiple countries and continents, providing strategic insight at the highest level.
As a result, the company now has a well-defined and approved pricing policy and effective monitoring within the Omnia platform. Maximising benefits and unlocking significant untapped potential within the Philips pricing landscape. 

Outlook and Conclusion

 Royal Philips is a continuous growth story together with Omnia. Through a truly collaborative approach, Philips has been able to achieve and maintain a strategically positive pricing strategy across its multiple retail channels in a managed system that minimises manual intervention. 

Growing Together: Omnia is a true pricing partner to Philips - not just a software provider, but a mission-critical asset to Philips' overall global pricing. Omnia supports Philips' growth and development in pricing through one-to-one consultancy, customer support and SLAs.