WHAT WE DO
Take control of your procurements with tailor-made price tracking from Prognos
“Cost for raw material has increased by 10%.
Unfortunately, we need to raise your price by 7%…”
With Prognos Tailored, you can easily take control of your price negotiations and counter unfair price increases. You will be able to present fact-based arguments on price changes, tailor-made for your products. By letting us gather and analyze the data customized for your specific products, you will not only save time, it also gives you the upper-hand in your negotiations!
HOW IT WORKS
Benefits From Our Cost Development
Take the lead in price negotiations
Suppliers holds the advantage of having easier access to better data explaining historical outcome, current status and expected future trends. This data is often used against you, leading to unfair price increases as you lack a persuasive counter-argument. Prognos’ customized cost analysis will help fill this unfair information gap, allowing you to take control of the price negotiations using fact-based arguments.
Easy and digital, always by your side
No installation required. Just log in to our service and access your customized purchasing cost analysis.
Data from multiple sources are compiled into one interactive and cloud-based database that is continuously updated, providing you with a good overview of all cost drivers and price changes over time.
Making sense of a complex data world
Interpreting data and understanding complex cost structures is a difficult, but often essential, process. In order to avoid having to reduce funds for other parts of your organization and risk losing competitiveness, knowledge of purchasing costs is key. Prognos will provide you with tailor-made price analysis reports, keeping you up to date with all necessary cost trends, giving you the upper hand in decision making negotiations.
Features With Prognos Tailored
The Dashboard Keeps You Up To Date With Just One Click!
The Dashboard gives you a collected overview of current cost developments. You will get access to a great amount of data, allowing you to quickly mitigate sudden risks, stay updated on market developments that can be used in forecasting, and budgeting.
Customized Analysis For Your Specific Situation
The analysis is tailor-made to fulfill your current needs and are created using high-quality data from several approved and reliable sources. The reports are made from our analysis experts where we perform continuous quality-checks to secure that our high-level of standard is maintained. All data is possible to export to excel and is easily integrated in internal documents.
No Preparation Needed, The Charts Speak For Themselves
The cost development data for your specific product is displayed in easy-to-read charts. A breakdown of your product’s materials can be examined separately together with other cost drivers such as freight, labour, and financial costs. The supplier cost development can be compared to your own price development, providing you with a good visual overview of trends.
FREQUENTLY ASKED QUESTIONS
What Challenges Does Prognos Help
“Why Does My Supplier Only Call When The Price Goes Up, Not Down?”
Suppliers are often eager to increase prices when the material cost goes up, but are difficult to negotiate with when they drop. To gain benefit of the true cost fluctuations, Prognos’ Should Cost Tracker let you compare the suppliers cost developments and the prices specifically for your product.
“Highly Complex Products Are More Expensive To Produce”
Some products requires more resources, energy or special equipment to produce. All costs analysis made by Prognos takes all dimensions related to producing your specific product into consideration. This includes energy consumption in production, material composition, geographical location of production, transportation methods, etc. Thus, the cost analysis reflects the total cost of producing your components, giving you a stronger position in price negotiations, even with highly complex products.
Risk Of Losing Your Only Supplier When Negotiating Prices
A common risk of a single source supplier is the increased dependency and lack of control regarding price developments. When there are no other suppliers to compare with, you can be forced to rely on cost information provided by a single supplier leaving you with little to no room for negotiations. Prognos provides you with fact based analysis that can be easily presented during price negotiations, leaving no scope for discussion or wrongful interpretations.
Everyone Can Become An Expert, Just Google It!
Data is everywhere and can be accessed anywhere and anytime by everyone. The lack of data is seldom a problem, however, the lack of time and knowledge on how to make the data useful usually is. The Prognos Database has cost development data from 60+ countries being continuously updated from reliable sources, providing you with up to date information making you the expert in negotiations!
Who benefits from using Prognos?
Prognos provide expert support and important data about cost developments, helping teams across the whole organisation. Prognos Data will be beneficial for:
When evaluating risks tied to product margins which can lead to substantial cost reductions. Having a greater insight into companies price development compared to the cost development can be used as a benchmark and measurement of the overall purchasing function where strategic decisions relate to product features.
Who wish to maintain a good working business relationship with key suppliers. The cost analysis will in these cases provide a good basis for discussion in streamlining product development projects.
Budget And Forecasting Team
Can use the fact-based fluctuations to more accurately predict future outcomes and price levels.
Have time to execute more strategic negotiations as the preparation time is shortened. The focus of the discussion can be shifted from price to strategy, knowing that your fact-based analysis will speak for itself!
Where can Prognos
generate added value?
A few days after I received your model I renegotiated the prices with my main supplier. I received a price reduction of 15%, which wouldn’t be possible without this support.
After our previous supplier wouldn’t adjust their prices according to indications from our models from Prognos, we made the decision to look for a new supplier. The funny thing is that the new prices, after the sourcing project, were exactly in line with what Prognos models suggested. This saved us about 20% within this major category.
CEO OF THE COMPANY
What our CEO says
”After so many years of working with purchasing it feels great to give back to the purchasing community as the CEO of Prognos, delivering great tools that I from experience know purchasing organisations everywhere need and benefit from”
Purchasing Guru and CEO of Prognos