Has anyone increased sales velocity by completely eliminating discounts?

We used to offer a standard 20% discount code whenever a demo prospect hesitated or asked for lower pricing. It felt like we were closing deals, but buyers kept stalling, waiting to see if they could haggle for more.

Two months ago, we instituted a strict Zero Discount Policy" across the board—fixed prices for everyone. Surprisingly, our deal cycle shortened by two weeks. Buyers stopped playing negotiation games and made decisions much faster.

Have you ever stopped offering discounts and noticed that prospects actually respected your value more?