Synergy’s Global Pricing Solution Ensures Price Accuracy and Profit Margin
for Hundreds of Products Shipped Internationally
Web-Based Software Solution Helps Pharmaceutical Manufacturer
Maintain Fair Profit Margin and Penetrate Overseas Markets
August 1, 2011 – (Bingham Farms, MI) -- A pharmaceutical company that manufactures and distributes its life-saving products globally needed a solution to help determine international pricing. The system was required to take into consideration many variables which differ from country to country, then set pricing for hundreds of products in dozens of countries around the world.
The $30 billion, Fortune 100 company, has 90,000 employees worldwide, and is devoted to discovering new medicines, new technologies and new ways to manage health.
There are many challenges to setting prices for products to be distributed globally. Each product must be priced differently for each country. Pricing must be set high enough to cover expenses and allow for a fair profit margin, yet low enough to enable buyers to buy. Much of the profit margin is re-invested into research and development, so there must be a firm profit for re-investment. Additional considerations affecting pricing for each region are: currency fluctuations, tariffs, difficulty accessing credit information, price controls, regulations on transfer pricing and methods of payment.
Synergy Computer Solutions, Inc. (“Synergy”), a long-time trusted partner of the Pharmaceutical firm, provided an analytical Java developer to create a software solution that would effectively manage the global pricing process.
It was necessary for the software application to locate and analyze the variables for each country, and produce reports to support pricing recommendations. After a detailed analysis of system requirements, a solution was developed in a Struts framework environment utilizing Java, Java Tomcat, RAD, and an e-browser. The system provides a comprehensive graphical user interface, making tasks such as navigation and report generation easy.
The project required Synergy’s consultant to meet a tight deadline. As always, Synergy delivered the solution on-time and within budget.
The client company was so pleased with the result that the consultant, who was slated to remain at the site for just a period of a few months, is now going on his fourth year and continues to work on mission-critical projects.
To date Synergy has provided expertise on over 300 projects at the site in technologies such as SharePoint, .NET, Java, Cognos, Informatica, EssBase, Hyperion, Cobol, SAP and Oracle. The client is enjoying significant savings based on Synergy’s Cost Savings Onsite/Offsite Delivery Model for much of the project work. The Cost Savings Model provides onsite consultants, who leverage offsite resources at a significantly reduced cost.
In March of 2011, this client announced that Synergy Computer Solutions was selected to receive its prestigious “2011 Supplier Excellence Award, for outstanding contributions to the company.”
In a letter to Synergy’s President, Sridhar Guduguntla, the client’s Manager of I.T. Purchasing said “Your Company and the individuals that support (“Our Company”) are being recognized for their outstanding contribution in 2010. This award recognizes your consistent delivery of strong performance throughout the year against established Program goals, and your dedication to innovation, customer service, and quality of product.”
Synergy’s Guduguntla was delighted with the news and expressed his congratulations to the entire Synergy team for their efforts. “We have given (this client) our best over the last four years. The entire team has worked very hard, everyone deserves to be recognized, from our managers to our outstanding Synergy consultants whose diligence reflect our high standards and commitment.”