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There is no greater profit lever you can pull for your business than a disciplined pricing strategy. Developed through an exclusive agreement with Strategic Pricing Associates (SPA), Epicor's Strategic Pricing simplifies the task of getting the prices you charge to their optimal level. The pricing strategy system has been developed and sharpened over 15 years with hundreds of clients in a broad variety of industries.
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.
Of course, not every transaction can or will be priced at the standard, structured price, and Strategic Pricing recognizes this by recommending and allowing exceptions. In order to maintain pricing discipline, however, you can control who may post exceptions to the prices set by the system and obtain detailed reports on what sorts of exceptions are applied.
Strategic Pricing contains a full suite of analytical tools that let you see how well you are doing in charging optimal prices in a number of ways. The tools also let you examine another area where distributors often leave money on the table: shipping charges. Using the Strategic Pricing formulas, you can also ensure that you are neither giving away freight nor charging so much for shipping that you lose customers.
According to SPA, implementing strategic pricing can increase your gross margins anywhere from two to four percentage points in the first year alone. For many distributors, that would mean a quick return on your investment in Strategic Pricing - in as little as three months.
Learn more about Strategic Pricing for Epicor customers at SPA's website or sign up for one of their free webcasts.
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