Business Overview (Price Flexibility)

Premise

You need to manage the maintenance and updating of existing price lists in response to price triggers as part of a team from either Pricing, Finance, Sales, or Sales Ops within your organization.

Desired Outcome 

Increase your flexibility for rapid market changes through our dynamic pricing capabilities. Automate your regular price maintenance and updates through price recalculations based on defined triggers and formulas.

Context and Background

The organization has an existing set of price lists that need to be administered and maintained in response to market changes. Your current pricing application doesn’t provide a framework that performs automated recalculations using standard business rules that generate updated prices in a timely fashion.

Problem 

The need for the definition of standard pricing rules for the automation of product price recalculations that are either triggered by an event (material cost increase, competitor price change) or happen on a regular schedule. Additionally, these price changes will proceed through an automated approval process to increase the speed of their deployment.

Solution Capabilities 

Once this Accelerator has been implemented and linked to your application, these components will be available for immediate use:

• Ability to define rules for automated price updates

• Deployment of dynamic pricing through Live Price Grids

• Scheduling of automated pricing updates

• Creation of approval workflows for price updates

• Notifications of new or update products