With profitability being the very thing that drives business growth, most businesses will base their yearly success on how well they have achieved against their targets for these figures. As 2015 draws to a close, many companies will now be beginning to analyse their yearly performance to see how revenue can be increased in 2016. However for some businesses, increased profitability can be achieved by simply gaining better control over their price management.
With many businesses actually determining the price of goods at the point of sale, it can sometimes be difficult for these companies to ensure that each sale generates their desired profit margin, especially if additional discount is also required to successfully close a sale. The problem is that in a live sales environment, their staff often won’t have access to the tools they need to quickly determine a price that not only meets the expectations and budget of the customer but also delivers a satisfactory margin. This results in too many items being sold for inadequate margins or, even worse, below their original cost price. Therefore it is vitally important that businesses pricing their products on a by-order basis offer their staff an accurate method of calculating a price that achieves a viable profit margin.
Hit Your Target Margin Every Time With This New Price Calculator Enhancement
Within OrderWise, businesses are already provided with numerous different methods of managing minimum sales prices, customer price lists, discount structures, product offers, seasonal promotions and more. Additionally the OrderWise Price Calculator offers users the ability to determine prices for goods that are priced by character customisation or bought in one unit of measure but then sold in another. You can read more about the OrderWise Price Calculator HERE.
Now in version 10.12 of OrderWise, the functionality of the Price Calculator has been extended to enable businesses to now be able to determine prices entirely on the margin being made. Once set up within the system module, staff will then be able to set the sales price for the line by entering the margin they wish to make. This feature could be used in conjunction with setting a minimum margin against the item allowing sales staff flexibility to go below their target margin without selling below a minimum margin level.
Thanks to this fantastic new addition, businesses using OrderWise are now able to gain enhanced control over their sales profitability. By using the OrderWise Price Calculator, users can benefit from being able to very quickly and accurately determine a price that allows them to achieve their desired profitability levels and grow their business further.
For more information on OrderWise Sales Order Processing, watch the video or download the brochure.
To discuss your requirements in more detail contact us today on 01522 704083.