"The fastest and most effective way for a company realize its maximum profit is to get its pricing right"

- Micheal Marn, "Managing Price, Gaining Profit"

As such, systems that are easy to use are critical to getting your pricing right. Whether prices are fairly constant contract prices or rapidly changing market prices, they all must be administered from a central source to ensure consistency across an organization. Typically, price managers are the best people to do this. Allowing these business users to implement ideas by themselves offers the greatest flexibility to react quickly to market conditions if they need to make minor changes or change an entire product lines pricing policies.

The K3 Price Center alleviates the problems inherent in price management by allowing price managers to maintain pricing policies in a spreadsheet like interface, so it's never necessary to consume valuable time from your IT staff. Once the information is finalized, the pricing administrator can publish it in an interactive electronic format that ensures sales people quote the right price at all times and the negotiation process is managed.

• Context-based price tables with matrix pricing, volume-based discounts, quantity-breaks per product, customer discounts, and price lists. If different tables are required, price tables can be extended quickly based on business needs.



• Price calculations are defined in a spreadsheet like interface. Familiar terms are used allowing cell values to come from price tables, free-form equations, attributes, or simply self-documenting comments. Pre-defined functions are easily inserted for quick entry of equations.



• Calculations can be different for different products or customers. For example, premium products are priced differently than commodity products. Each calculation is defined in it's own calculation sheet and automatically used to derive the price.



• Prices are rules driven rather than explicit, so when business conditions change, pricing rules can adapt rather than having to retrofit dozens of price lists or having to change the underlying code.