Ariel Baños, specialist in price management, explains the main steps to follow in order to successfully define the most appropriate pricing strategy for every organization.

1.  Create a team to lead Pricing  

Companies leave a lot of money on the table when they don't scrutinise price management with a magnifying glass. Traditional areas of the organization face a lot of problems when taking control of this critical and elusive variable.  

Convinced of this situation, Bancolombia, one of the largest financial groups in Latin America, decided to start a project to professionalize price management, forming a unit specialized in the subject. Thus, at the beginning of 2015, the bank formed a team to lead this initiative: the "Department of Revenue Optimization in Personal Banking".

Read full report (in Spanish).

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