On this week’s episode of Exceedra Byte, Simon Elsby, Exceedra APAC Sales Director unlocks the mystery of TPx.
What is TPx? Is it TPM (Trade Promotion Management), is it TPO (Trade Promotion Optimization) or is it some crazy hybrid of both, dreamed up to confuse manufacturers with the latest jargon, and not necessarily the right solution for your business?
What does TPx stand for and how can it help? TPx means Trade Promotion Execution, which focuses on both measurement and tracking of all your trade investments, as well as optimizing investment effectiveness through artificial intelligence and smart reporting analytics.
Let’s investigate a little further and explore planning. Planning for the right solution. In our first Exceedra Byte episode, Brian Kolubinskyj described Trade Promotion Management as the process of planning, budgeting, optimizing, presenting, executing, settling, and post event analyzing incentive programs which occur between a manufacturer and a retailer to boost revenue or increase/protect market share or combinations of all those things.
Trade Promotion Optimization or TPO adds predictive and/or machine learning or artificial intelligence to improve promotional outcomes but typically lacks the transactional components that drives a TPM system and the benefits it can provide an organization very quickly when implemented with the right level of rigor and discipline.
So, think of a TPx system that closes the loop across all areas and some might say providing completeness to an organization’s holistic promotional planning, pre and post event analysis, detailed P&L reporting, ‘one version of the truth’ integrated commercial planning that flows through to the most difficult joint business planning with all types of customers, and embedding revenue growth management capabilities, with RGM analytics tools and AI insights at your fingertips.
And the best news is that whether your organization’s system business requirements are average, advanced, or leading edge, there is a solution available to meet all your current and future integrated TPx planning needs.
Join us next time when we will be talking about TPM/TPx and revenue management, and aligning those plans to your Retail Execution needs.
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