Price management is the act of setting and updating pricing within any business. At a more granular level, price management is the practice of efficiently and effectively managing the balance between financial risk and revenue to optimally manage product pricing at any given time, identify cross-sell or upsell opportunities, and prevent margin erosion.
B2B companies are finding manual price management is increasingly impractical in a digital age. Yet spreadsheets are still common, even though they don’t provide the flexibility or speed that pricing teams need today. It’s why category leaders are maintaining their commercial edge by implementing AI-powered price management solutions.