Merck Case Study
Merck is a leading science and technology company in healthcare, life science and performance materials.
Around 50,000 employees work to further develop technologies that improve and enhance life – from biopharmaceutical therapies to treat cancer or multiple sclerosis, cutting-edge systems for scientific research and production, to liquid crystals for smartphones and LCD televisions.
- For Merck prices to be communicated to customers, and be included in a contract, they must be first approved internally.
- A governance process was in place to handle the approvals that required the sales team to complete a justification form, print out the form, and obtain signatures from four colleagues with the right approval levels.
- Administrative staff stored physical forms.
- This process was laborious and time-consuming to manage in its own right, especially the element of chasing up signatures.
- Merck selected the BlackCurve pricing tool to handle their pricing governance structure.
- Merck admin staff can set up all the approvers and how many approvers for each region.
- Sales staff can setup pricing levels within the tool, and then send out notifications to approvers to log in to either comment or accept or reject the pricing decision.
- All the justifications and prices are held centrally in an electronic format, with the option to also download a .pdf if a form is required.
- An audit trail is available of who did what and when.
- The tool will provide Merck with significant efficiency improvements and more visibility of pricing decisions.