There is no greater profit lever you can pull for your business than a disciplined pricing strategy. The Epicor Strategic Pricing module simplifies the task of getting the prices you charge to their optimal level. Watch our collection of videos to learn about the power of strategic pricing with Epicor.
For every product, for every customer, there is a price that produces the optimal gross margin – the highest margin you can obtain while retaining the customer’s business. What that price is depends on multiple factors, from the amount of business you do with a customer annually to the particular item being ordered. Up until now, determining that right price for every item has been a formidably complex task. With Epicor Strategic Pricing, that task becomes as simple as a few keystrokes.
Research conducted by SPA has shown that most distributors either charge customers too little or too much for the products they buy. Both have pitfalls: charge customers too much, and they are less likely to do more business with you; charge them too little, and you’re leaving money on the table. Strategic Pricing helps you get all your transactions to that optimal price – not too high, not too low, but just right.
The Strategic Pricing module analyzes your database for customer and order information and then classifies customers by type and size. It then exports your customer data to SPA, which sends back recommendations for pricing items by customer and product. The optional Pricing Structure service from SPA will recommend optimal discount structures across customer and item categories, and the optional Customer SKU service from SPA will recommend pricing for specific customer/item combinations for your best customers. These recommendations can
be imported into your Epicor solution, providing easy updating and maintenance of your pricing structures.
- Increase gross margins anywhere from two to four percentage points in the first year alone on affected items
- Maximize profits by squeezing higher gross margins out of less price-sensitive transactions
- Support a pricing architecture that is strategic, market-based, and disciplined
- Build customer loyalty by offering each customer maximum value for money
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