The Promotion Optimization Institute recently published its 2016 TPx Vendor Panorama report, covering a comprehensive study of 24 vendors in the trade promotion management and optimization space. Key areas of competency evaluated in the report were:
- Company assessments, including: company viability, deployment capabilities, market understanding and long-term vision.
- Product assessments, including: TPM functionality, TPO completeness, user experience, analytics capabilities and flexibility.
Of the 24 vendors evaluated, TABS Analytics received 3 best-in-class mentions for analytics/insight, analytics visualization and dashboards. TABS was one of only three vendors to receive 3 or more best-in-class mentions.
The 2016 TPx Vendor Panorama report was written by POI senior partner, Dale Hagemeyer. Several key insights coming out of his research and detailed in the report include:
- Over 40 percent of manufacturers surveyed said they were either dissatisfied or extremely dissatisfied with their ability to manage trade promotions. None stated that they were extremely satisfied.
- Having the right team in place and gaining retailer collaboration are two major challenges for manufacturers.
- Besides leveraging technology, manufacturers cited that implementing change management, gaining access to best practices and having local market support were critical to succeeding with a TPx project.
Key recommendations cited by Hagemeyer in the Vendor Panorama report include:
- Prioritizing functionality above the delivery method.
- Looking to enable all trade promotion-related processes versus doing implementation or upgrades in silos.
- Making vendor best practices part of the scope of the TPx work in order to properly leverage them.
The Promotion Optimization Institute's mission is to bring consumer packaged goods industry practitioners together to collaborate and share best practices.