Any business wants to maximise profits by pricing their goods and services at the right level – and to control those prices using an accurate pricing solution or price engine. Traditionally for many businesses price management has been conducted using Excel spreadsheets to calculate optimum prices – and to convey these prices to all concerned in the sales process. No-one is saying that Word and Excel Price Lists are a completely flawed system of managing pricing but the modern, accurate and more efficient way is to use a pricing software rather than the old fashioned methods that are so susceptible to error, manipulation and corruption.
What is a Pricing Engine
Pricing decisions impact heavily on every part of your business – FACT!
A price engine, also known as a pricing solution, or price management and optimisation software, enables you to implement your pricing decisions automatically, based on pre-defined or learned logic. The result will be higher sales and improved profitability.
Topics: Price Engine
Any business wants to maximise profits by pricing their goods and services at the right level. Traditionally for many businesses price management has been conducted using Excel spreadsheets to calculate optimum prices – and to convey these prices to all concerned in the sales process.
Introduction to Configure Price Quote (CPQ) Software
The worst of the economic downturn is now behind us but many businesses remain under significant economic pressure. Companies have slashed their budgets and reduced their staff but this often means sales teams are required to sell more with fewer resources. Meanwhile, shifts in buyer behaviour have lengthened sales cycles. Basically, things are still tough out there.
In my time working across industries at Accenture, Innoware and BlackCurve, I have come across many powerful spreadsheets running business critical processes. Whether customers are using Microsoft Excel, Open Office or Google Sheets to name a few, these tools used correctly can be very powerful. But they do have their limitations...
Excel can be a business owners’ best friend and worst enemy – it all depends on how the program is used. When it comes to keeping track of certain types of data, few programs provide the tools needed at such a low cost. But if you’re still using Excel as the key tool to manage your pricing rules, it could be hurting your business.