TL;DR

A Product Engine is a single source of truth for your pricing and product information. It stores all the different versions of your price lists, allowing customers to access the most up-to-date version. Also, it will enable you to track who is accessing the information. It can provide significant benefits to your business if:

• You distribute price lists to customers and want more control
• Your sales team often struggle to find the correct pricing
• You have many systems that need to consume pricing and product data
• Your pricing and product staff find collaboration hard without a dedicated system
• You worry about the accuracy of your pricing

Distributing Price Lists

The administration of creating and sending out all the varying price list versions can be a complex and exhaustive process. If you send price lists as documents, your customers often look at the wrong version. They can even fall into the hands of your competitors. You need a better way to distribute your price lists to customers, ideally, with more control over who views what and a way to ensure that there are no errors in the pricing you are providing.

Securely share price lists with ProductEngine.

Easily and quickly create all the versions of your price lists that you need for internal and external viewers. When you share a price list, you can control who can view it. All viewers will need to authenticate to view the price list. If required, you can also remove access at any time. Best of all, your viewers see exactly what you want them to - no more “which version is the right one?”

Sales can need help finding the correct pricing

Your sales team can often need help finding the correct customer pricing. To counter this, they download price lists to their desktop and then forget to check for an updated version. Looking through systems such as CRM for pricing can also be problematic, especially if they contain many price options. As a result, it can be difficult to discern which price is the correct one.

One place for your team with ProductEngine

ProductEngine provides one place for your sales team, or anyone else, to access pricing. You can share pricing and documents, specifications, images, and more. You can even customise what individual viewers see so they have access to precisely the data you want.

Keeping your systems in sync can be challenging.

Keeping them in sync is hard if you have multiple systems that need to consume pricing and product data. Trying to do it manually often consumes considerable time and energy. In addition, the different systems need different formats, making it difficult to update them all at once. The lack of a single source of truth can cause discrepancies to arise. Customers may

receive invoices that do not match the quote or order, which can be a source of confusion and frustration for customers or, even worse, a contributor to lost revenue.

Keep your systems in sync with ProductEngine.

Connect all your systems that need pricing and product information and keep them in sync with ProductEngine. From CRM and finance to ERP, e-commerce and more, the number of systems that store this data is growing. It also enables capturing valuable data such as COGS and margins in suitable systems, such as finance. With this setup, everyone has access to the information they need.

Collaboration is complex without a dedicated system.

Collaboration can prove to be a difficult task when working with spreadsheets such as Excel. Despite newer cloud-based spreadsheet options, Excel remains the dominant software used for pricing. In our survey, 91% of staff working on pricing still use Excel. Sending spreadsheet files back and forth, or accessing them through shared folders, is an inefficient and inconvenient process, especially in our current world of working from anywhere.

Spreadsheets are not ideal for storing all necessary product information, such as images, files, and documents, making the collaboration process even more challenging by involving shared folders, wikis, etc.

Work more efficiently with ProductEngine.

ProductEngine makes it much easier for your staff who maintain your pricing and product information. Having only one place to find all the data keeps them in sync and removes the time wasted trying to find the correct version of the data.

The spreadsheet-like interface with calculations and functions makes the move from spreadsheets to ProductEngine seamless. To ensure that your pricing calculations are accurate, ProductEngine includes special functions such as ADDMARGIN and PROFIT.

How accurate is your pricing?

Spreadsheets are often the source of errors when it comes to pricing. It can be difficult to ensure accuracy when verifying calculations, especially across large datasets. Additionally, errors can occur when converting the data to upload it to other systems. Any mistakes in the pricing could have serious repercussions, and they can be challenging to correct

Be accurate and confident with ProductEngine.

ProductEngine is designed to manage pricing. There are multiple features included to enhance accuracy. These include a feature to set the default value for an entire column. This is particularly useful for calculations—only one place to check your calculations rather than searching through each cell.

Creating pricing can be time-consuming, but it is essential to business success. With ProductEngine, you can ensure that your costs of goods sold (COGS), taxes, and other charges are visible and accessible in one place, ensuring the best data is used to create your pricing. In addition, ProductEngine gives you the confidence that all of your pricing calculations are as accurate as possible.

Supplier price management

Manage your supplier pricing easily by using ProductEngine to import your supplier price lists. With ProductEngine, you can view all of your supplier price lists in a single, convenient location. Then, create internal versions of your supplier price lists with only the items approved for use. You can also use the cost prices to make your sell prices, ensuring that you always work with the most up-to-date pricing from your suppliers.

Be more efficient

The benefits to your business are many and can be pretty impressive. Access to the correct data at the right time keeps you ahead of the competition, allowing fast data-driven

decision-making. The reduced admin overhead and removal of time wasted looking for the correct version of the data delivers significant time savings.

Summary

ProductEngine is the ultimate solution for all your pricing and product information needs. It provides a centralised platform to collate and manage your supplier pricing, streamlines the process of creating your pricing, and securely shares your price lists with internal and external stakeholders. In addition, ProductEngine seamlessly connects to all your systems that need to consume pricing or product information, making it incredibly easy for anyone in the business to access the data they need.