Capterra Glossary
B2B Price Optimization And Management
B2B optimization and management software allows companies to competitively price their goods and services. For companies with smaller profit margins, this technology is essential to successfully manage their finances. Different software systems can integrate with these programs, producing a range of sales intelligence advice for areas such as back-office price management and product management roles, some in real-time.
What Small and Midsize Businesses Need to Know About B2B Price Optimization And Management
Price optimization means charging a price for goods and services that will attract the most customers while still making a reasonable profit. Too low of a price means the SMB makes little money and too high of a price will ensure consumers take their business elsewhere. Finding the ideal price point is difficult but crucial. Quality software will analyze demand, competition, and company cost structure to set the best price. It will then set and manage future price changes automatically according to previously determined parameters. Since it also automates some workflows, the software is ideal for keeping SMBs competitive by freeing up employee time to focus on other tasks.