Promax helped a leading personal care product manufacturer improve event ROI by 5% via accurate pre- and post-promotion analysis
The company, a leading manufacturer of personal care products, has operations in 175 countries and an annual sale of more than $18 billion. The US-based company has manufacturing operations in close to 40 countries and over 40,000 employees worldwide. Nearly one-quarter of the world's population purchases the client’s products every day.
The market for personal care products is fueled by urbanization and growth in population, and, hence, is growing at a fast clip. The millennials, who drive the market, have brought in a shift in mindset, seeking high-quality products at competitive prices. Industry players are coming up with affordable lines of products to cater to today’s brand-conscious consumers, who demand value for money. The leaders are also seeking ways to improve the effectiveness and efficiency of their Trade Promotion Management activities.
The client wanted a one-stop solution for its trade promotions and related activities. There was a need to improve the sales and profitability of promotions and visibility of key stakeholders from sales, demand and finance functions in the business. They wanted to use data from multiple sources like point of sale, syndicated data, etc. to understand impact of various causals that affect promotional performance and transform their transactional promotional planning approach into a more predictive and accurate one.
Wipro’s Promax Advanced solution helped the client:
- Develop promotional plans via standard fact-based and analytical processes, leveraging the Promax planning platform
- Manage promotional activities by enabling collaboration between brand, sales, planning and customer teams
- Simplify claims management against promotions and deductions processes with robust financial controls provided by the exceptional accrual and settlement capabilities of Promax Advanced
- Manage direct and indirect customers, and provide promotional execution and performance reporting capabilities aligned to the client’s needs
Implementing Promax Advanced ensured all-round improvement in the client’s trade planning environment and outcomes.
- 5% improvement in event ROI through a combination of higher sales and bottom line
- Increased incremental gross sales by 3-7% for products on promotions
- Regression Modelling for top 21 customers (80% of total volume) for accurate future sales forecasts
- Structured workflow to better manage and authorize promotions
- Increased visibility across all stakeholders improved pre- and post-event analysis, optimized promotions and accurately predicted demand