Pricing Analyst

Job Title: Pricing Analyst

Department: Sales

Reports to: VP Commercial Operations

FLSA Status: Exempt

Travel: Up to 10% travel may be required

Summary

A Pricing Analyst is a professional responsible for maintaining, analyzing and helping determine the pricing strategies for products or services in our company. The role involves managing all pricing datasets and developing and streamlining processes for all pricing and price changes/implementation. Role also involves tracking material pricing, assessing competitor pricing, customer demand and overall business goals to help set competitive and profitable pricing models. Project management and assistance may be required on an as-need basis. Below is an overview of the key responsibilities, skills, and qualifications of a Pricing Analyst:

Essential Duties and Responsibilities

Pricing Strategy Development:

• Develop and propose pricing strategies for products or services that align with business objectives.
• Work with Commercial, Operations and Finance teams to understand the target customer and set competitive prices.
• Roll out price adjustments as needed based on raw material changes, economic or market conditions.
• Responsible for price quotation workflow between cross-functional departments.

Profitability Analysis:

• Create model for analyzing price changes.
• Analyze the cost structure of products or services to ensure that the pricing will cover costs and generate desired margins.
• Use financial models and analytical tools to assess the profitability of different pricing scenarios.

Cost and Price Optimization:

• Implement dynamic pricing models that optimizes revenue while maintaining competitive advantage.
• Regularly review pricing models to ensure they are in line with market conditions and company goals.

Pricing Processes & Management

• Manage pricing processes from customer to order.
• Recommend areas for process improvements to enhance or streamline processes.
• Maintain pricing adjustments for key customers and ensure adjustments are documented and implemented.
• Manage master file of all pricing in various ERP systems.
• Assist Sales team with price changes, including templates.

Reporting & Presentation:

• Provide regular reports on pricing performance, including revenue, profit margins, and market share.
• Present pricing recommendations and performance analysis to senior management or other stakeholders.

Collaboration with Other Teams:

• Work closely with the commercial, operations, and finance teams to align on pricing strategy and ensure that pricing supports broader business goals.
• Collaborate with sales teams to understand their needs and provide data-driven insights.
• Assist in the development of sales strategies by offering analytical support.
• Help sales teams understand pricing structures and provide them with the necessary tools to communicate value to customers effectively.

Performance Tracking:

• Track sales team performance, territory performance, and individual metrics.
• Identify areas where performance can be improved and propose solutions.

Project Management. As needed.

Required Skills:

• Analytical Skills: Ability to analyze large datasets and draw actionable insights.
• Excel and Financial Modeling: Proficiency in Excel, with advanced knowledge of financial modeling, forecasting, and data analysis. Proficiency with ERP systems, data warehouse applications and CRM systems a plus.
• Communication: Ability to clearly communicate pricing strategies and financial results to both technical and non-technical stakeholders.
• Problem-Solving: Ability to address complex pricing challenges and find optimal pricing solutions.
• Attention to Detail: Ensuring that pricing decisions are based on accurate and complete data.
• Collaboration. Ability to work with various departments and stakeholders to manage process.

Qualifications:

Education: A bachelor’s degree in business, economics, finance, or a related field.

Experience: At least 3 years of experience in pricing, finance, or data analysis. Experience in a manufacturing industry preferred.

Skills:

Strong proficiency in Microsoft Excel, Google Sheets, and other data analysis tools (e.g., Power BI, Tableau, SmartSheet).

Experience with CRM systems (Salesforce, HubSpot, etc.) is a plus.

Excellent analytical and problem-solving skills.

Ability to work with large datasets and generate meaningful insights.

Strong communication and presentation skills.

Detail-oriented with a focus on accuracy and results.

ERP Systems. Familiarity with systems, particularly NetSuite a plus.

Pricing Software: Familiarity with pricing software a plus.

Personal Attributes:

Strong attention to detail and high level of accuracy.

Ability to work independently and as part of a team.

Self-motivated with a proactive approach to problem-solving.

Comfortable working in a fast-paced, data-driven environment.

In summary, a Pricing Analyst plays a critical role in driving revenue growth by using data to manage pricing and help set prices that align with business goals and market conditions while maximizing profitability.