Product pricing is essential to operating a successful business. To avoid mistakes in maintaining prices in your order entry or materials management systems, a solution is needed that allows users to enter pricing efficiently, review proposed changes and execute accurate changes in a timely manner. Vistex provides price administration tools that enable customers to perform mass maintenance of pricing and effective dates; validate pricing according to business-defined price policies; and conduct and track reviews and approvals with comprehensive workflow tools. Now, Vistex makes pricing administration easier with features that import and manage commodity prices and can automatically determine updated pricing through user-defined formulas for commodity pricing, price indices, prices of bill of material components, and most arithmetic and logical operators.
“Price execution” can be simply defined as determining the correct price for the product being purchased. Simple to define, but not so simple to do – unless you have Vistex. Vistex can define and manage pricing agreements that may include performance tiers, eligibility requirements, sales channel restrictions, and other complex terms and conditions. Vistex ensures that the correct price is offered to customers on sales orders and requested on purchase orders.
Profitability depends significantly on price, and there is more to it than just cost-to-produce and sales price. Because Vistex solutions comprehensively manage pricing, incentives and revenue-sharing, only Vistex can analyze proposed pricing to determine true margin and show the complete gross-to-net, component-by-component, for individual products or for an entire product line or agreement.