Price List /Books

Introduction

The complexity of managing accurate price lists/books across sales and finance teams within a business is well known. Using an integrated cloud solution can resolve all the key issues with a centralised quoting and invoicing system, while taking advantage of advanced pricing tools gives greater flexibility, time to implementation and personalisation of sales contracts and price lists.

Typical Problems

Maintaining and tracking consistent price lists throughout an entire business is a challenge, factor in multiple entities, currencies, and locations, this can easily lead to misalignment between finance and sales and inconsistencies in the prices and terms offered to customers.

Sales teams will often need to offer customised terms and pricing to their customers that differ from the central price list. Legacy systems do not allow this level of personalisation, so manual intervention is required to adjust the price lists which can lead to costly errors in the data entry.

Solutions

Using an integrated cloud solution means sales and finance can be fully aligned; invoices can be auto-generated with sales contracts built using quotes from within the system irrespective of the number of entities, differing currencies and locations.

Advanced pricing tools allow for the creation of complex and accurate pricing structures with predefined price lists that can be assigned to customers or customised deals based on attributes such as specific discounts, industries, regions, and revenue streams.

Benefits/ROI

Absolute confidence in the accuracy of price lists held within the system, including update and change tracking with data review controls, reducing any discrepancies and unintentional misquoting to the end customer.

By integrating quoting and invoicing through the same platform, businesses ensure consistency in the pricing data held internally and any messages to the customers throughout the sales journey.

Alignment of sales and finance teams through a live shared view of the product catalogue and full traceability of each quote, invoice, and communication with customers to reduce errors and prevent time-consuming manual corrections.

References

Example integrations include

• Salesforce CPQ
• DealHub