Making the Business Case for Pricing Management Software

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Business Case for Pricing Management Software

You’ve been tasked with researching ways to improve your company’s pricing management strategy and discovered the magical tool that is pricing management software. Now you just need to convince your manager that it’s worth the investment since they will make the final decision.

To help you with this momentous task, we’ve put together some of the most winning arguments for investing in a pricing management solution. You may not be able to provide exact numbers when it comes to estimating revenue increase, but you’ve got a number of benefits to advertise:

Cost savings on a revenue management team

Your business may not have the resource to assign a dedicated revenue manager who exclusively looks after your pricing strategy and rate adjustments. Investing in the right revenue management software will help your company optimize and set prices. This way you can set price scenarios once and our pricing management tool will do the rest of the calculations for you, leaving your team free to carry on with their primary responsibilities and duties.  No matter how many price adjustments you have, they can all be managed with one pricing solution.

A powerful tool in your pricing management toolbox

Pricing management solutions are not just for companies that don’t have a revenue manager. Tailor-made software is also a great companion to real people working to optimize your organization’s profits. It enables your team to divide and conquer, leaving the cumbersome calculations to the pricing management tool and focusing on perfecting your strategy instead.

Trackable payment adjustments

Designed to save your team time and effort, a revenue management system brings a level of AI to a historically manual task. Rockton Pricing Management also manages rebates, commission, offsets, and other adjustments so that you don’t have to.

Reliable automation

Another benefit of investing in pricing management software is the consistency it offers when it comes to performance. When compared to implementing your pricing strategy manually, a revenue management tool will make fewer errors and generate reliable results.

Pricing management automation comes in specifically handy if you have a large number of price lists you need to update fairly often. Your trusted price management system can do this behind the scenes, taking away all the headaches usually associated with the task.

Helps your business to perform better

Having a pricing management solution in your corner is invaluable for staying ahead of the competition. The powerful software helps you gain an edge and run your businesses effectively and efficiently by optimizing your pricing management strategy. Rockton Pricing Management can help you to be fast and reactive by tracking multiple units of measure by item, adjusting pricing, and converting units of measure on a per-item basis for you – all these things that your competitors may not be able to do as quickly or accurately.

Easy to implement

Last, but not least, many pricing solutions have been designed to work with your ERP so that they’re easy to implement. Our pricing management tool, in particular, takes the stress away from implementing a new tool as we have SQL-based and web service APIs for our pricing management that can connect to any ERP system.

Whether you have a dedicated revenue management team, or you’re tackling pricing alongside the rest of your workload, investing in a price management system will benefit your business immensely. By making you more competitive and empowering you to optimize your revenue management strategy, the right pricing tool will ultimately boost your profits.

Why did we take on the pricing management challenge?

Many ERPs have some type of pricing functionality built-in and that may be all you need. But if you are a manufacturer, wholesaler, or distributor, have complex pricing scenarios, a large number of customers and/or items, or offer a wide variety of price adjustments then you may just need something more robust.

Ready to upgrade your pricing management strategy? Download our pricing strategies checklist and learn more about effective pricing management.

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