New functionality of Tryton ERP for price monitoring
Marc Redorta Jan 26, 2018
There are few things more important for the success of a company, such as fixing the prices of its products or services. A good business model, an excellent marketing strategy or an incredible reputation can be useless if the price is not competitive. That is, if the price is far from what our competition offers. And nowadays it is too easy to know what another supplier is asking for the same product or service.
According to the prestigious consultancy Nielsen, Google is used massively by consumers to compare product prices, beyond which they are then acquired online or in a traditional store. Among the most compared products in Google are clothes, books, trips, tickets to shows or mobile and electronic devices. This means that massive access of consumers to information and the global market makes the price a decisive element of purchase before the same product.
The drama of volatile prices
Make the comparison of prices is something much easier for the buyer than for the seller. The user only compares a product at a certain time, while the seller has to compare them all and on a permanent basis, because the pricing policies are extremely volatile. And we can be talking about thousands of products.
The most extreme case is about dynamic prices, which are increasingly common, and that change automatically according to supply and demand and the profile of the potential client. For example... it is very difficult to find inside a plane, two people who have not bought the ticket together and who pay exactly the same price for the same flight.
Aware of this, many companies are contracting automated tracking services for competitors' prices. These are platforms such as Minderest and Netrivals that monitor prices, promotions and stocks in online and offline channels; they detect the emergence of new products and even make pricing suggestions. Of course,, it is a great help for companies that have a wide range of products and aggressive competition.
Good news: it can be automated
In NaN-tic we go further. Having this information can be even more useful if we have it linked to your ERP. For this reason we have developed a new functionality that allows you to import this information from platforms such as Minderest or Netrivals and associate it automatically to the file of each product or service. The result is that quickly, and simply entering the file of our product, we can know if they are below or above the prices of our competitors.
And the last step is obvious. Create rules for Tryton ERP to help design the right strategies to set the company's pricing policy. And, if appropriate, recalculating commercial margins and sales, revenue and billing forecasts later. And all automated, without having to waste even a second to know if the price of that product of ours adjusts to the reality of the market.
Conclusion
By combining the technology of the price comparison platforms with Tryton ERP you can automatically set the prices of your competitor in each tab of your products. You can also set prices without fear of being wrong and automatically recalculate margins and sales forecasts, revenue and billing.
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NaN-tic GUARANTEE
This module has the NaN-tic GUARANTEE. This means that it has been developed and / or tested and validated by NaN-tic and, therefore, we are responsible and is covered by the manufacturing guarantee we offer to our customers.
