Whether you're advertising your product online or through print media, there's the minimum price you should advertise the product. Pam, an expert at ORIS Intelligence have great insights on how companies can enforce minimum advertised pricing (MAP) policies and ensure manufacturers can better support trusted retail partners, while maximizing margins, increasing revenue and protecting their consumers. We had a chance to interview Pam and asked about her story, how she started her business and the future of ORIS.
Tell us your story. Why did you start your business?
The core technology was spun out of another company. I then took that technology and was asked to commercialize and build a great team around it. The problem the technology solved was very real, and early customers were already referring others to it (a great sign!). It’s tough work to grow a company from very little to something much larger, and having done it before I thought I could do it even better this time. With the biggest enjoyment coming from building a great team.
How did you come up with your business name?
Online Retail Intelligence Solution (ORIS) – Tried to describe what we do in the name.
Tell us about your products and services. How do you help clients?
ORIS helps world class brands monitor, investigate and enforce the online pricing policies so that there is pricing parity in the market. By doing this, we also identify unauthorized retailers of their products. Retailers (many of them unauthorized) continue to under-cut pricing which puts major challenges on the brand. Having inconsistency is pricing and being over distributed commoditizes the brand. Having unauthorized sellers sell to consumers can harm consumers as post-sale support or warranties and ultimately the good retailers are harmed in not having the margin they anticipated to support ongoing marketing and support of the consumer.
What makes you unique? What is your unique selling proposition (USP)?
Due to our comprehensive solutions monitoring the entire web, our data accuracy is best in class.
Where do you see ORIS Intelligence in the next 3-5 years?
As e-commerce continues to grow, brands will need to make sure that their channels are clean, identify and flush out unauthorized sellers, pricing is consistent and their ability to launch new premium products is preserved. We plan on continuing to build out our feature set around this need.
What can businesses do about challenges in enforcing minimum advertised pricing (MAP)?
Start with your top selling products and build out from there. Once your retailers recognize that your enforcing MAP, the games typically slow down. They’ll also be happy that your committed to their success and trying to eliminate the unauthorized sellers from the channel.
What is your favorite business quote and why?
“Execution isn’t magic, but it’s magical when it happens” – Pamela Springer. While strategy is important, it’s the execution that brings it alive. Many fail in their ability to execute successfully with a growing team that competes in a dynamically changing fast paced world.
What have been some of your achievements that you are most proud of? Why?
Hearing associates say that it’s the best place they ever worked. Consistently delivering on customer expectations.