PRICING CONTROLS

The most difficult challenge faced by management is the development of an effective pricing control system. Defining control and management of pricing requires a full collaboration between the organisational functions of sales, marketing, finance and operations

CONTROL NEEDS AND POLICY

The basis of pricing control begins with the company policy.  At Pricing Insight, we define policy as a clear and concise set of rules that all key players in the business understands.  More importantly, we see these policies being generated, collaborated and regularly reviewed by the vaious organisational functions of sales, marketing, finance and operations.  This ensures a common language of pricing tactics and strategies is shared and understood among the key players 

Our in-house workshops assist in creating a comprehensive pricing policy structure for your business.  Detailed and practical guidelines advising on limits, authorities, documentation and signoffs creates consistency, alignment and accountability on your financial results

Control comes in the following forms of:
-  Policy enforcement;
-  Process mapping and;
-  Centralisation of discounts and tactics

A centralised tactics and discount menu will empower your sales force to negotiate profitable contracts and spot prices. This prevents inconsistent price overrides and discounts that would usually lead to margin erosion.  Clearly defined strategic objectives and decision making procedures will ensure that your business has taken control of its intellectual property and will not be dispersed at an individual level

WORKING WITH PRICING INSIGHT

We utilise a comprehensive diagnostic and benchmark assessment to evaluate your current capability, agreement amongst team members on that capability and ways to generate alignment and subsequent business improvements

To find out how much pricing control you have in your business by completing Pricing Insight's 21 Point Diagnostic, or see our suite of Consulting Services to develop your own pricing control system

CONTACT US

For further inquiries into Pricing Insight's Pricing Controls or our Consulting Services, please contact us on:
+61 2 9091 0226