Before we can start talking about value based pricing, we should make clear that when we are offering a product or service it should provide something valuable for the customer. Now, we see this in our daily lives, you open any television and see the advertisements from a soap company, life boy says that I am offering a soap which will provide immunization against jumps within 10 minute 10 seconds of usage of life boards. Similarly, a Tea Company advertises that having their tea will provide him with the immunization to the drinka. Now, this value proposition becomes even more important for companies which are offering products and services to other companies. That means small companies like us who are dealing in projects for large companies or large companies like IBM providing services and products to large companies across the globe. Now, I tried to explain this with an example.

We were bidding for a project in Thailand for providing a technic billing system. Now, we will not get into the details of interconnect billing system if anyone is interested, you can look forward to our program mastering integrate billing which we will be launching very shortly. Now, we were we were called to provide our bid for this project because the company wanted to change the vendor who was providing this integrated billing system. Okay. So, there was a case where the, the company the customer wanted a system because of a reason. However, in spite of the fact that he was getting his existing system replaced, he wanted something valuable coming from the new new system.

There are some requirements with the customer stated. Okay, for example, the customer stated that I want a superior partner portal If I get a superior partner portal then the amount of staff I would required to utilize for managing my partners would be reduced. So, it will cost me some some less amount of money in terms of managing my systems. However, this was not a very significant business proposition for buying a new system altogether. There are a few more such requirements, which would enhance the customer's operations, but would not reduce in very significant saving or very significant earning from the project. So we were desperate to find us Scituate find a proposition which would make the customer very delighted and would go for buying our system.

After doing some brainstorming, we found that the customer interconnect system has one aspect known as the least cost routing least cost routing in a very brief means that when the telecom company is collecting calls from other telecom companies to other to the destination telecom companies, it needs to find the route which the call should take, so that the cost to the telecom company provider telecom companies at least and the quality of the call is the best. Now, normally the telecom companies you do utilize database systems for doing this function, we devised a mechanism by which we used artificial intelligence by studying historic data and training our model so that the least cost routing could be done through artificial intelligence. Now, this was a very valuable proposition for the customer because this would add a huge amount of revenue to their operations. So, this was an example similarly, in any kind of a product or service Probably should we must find something which really delights the customer and provide something very valuable for the customer.