Why Your Pricing Should Not Be an Afterthought
With the recent improvements to online domain experiences, more and more small business owners have started to manage aspects of their businesses using web-based tools. As modern media and marketing continue to merge over the internet, so have other vital operational areas of business management.
It’s not easy keeping up with the latest developments and integrating new tools into your business. But making the most out of a few user-friendly online apps can help you increase your business’ accuracy and efficiency without too much effort. Here are some of the most effective pricing tools that your small business can use to stay competitive.
SpringAhead is an online tool that offers time tracking, billing and expense management solutions. As a government contractor, this is extremely important to contract compliance. You can use this software to completely automate and integrate all your project accounting processes and to manage them using a simple web-based platform. Time sheets can be created without data entry and exported online to payroll or accounting systems. The solution simplifies back-office operations and centralizes them into one platform.
The tool also tracks labor costs, revenues, and expenses by jobs, departments, activities, and more. It is useful for helping businesses manage expenses and predict project costs and incoming revenue. It can facilitate payments and cost management via paperless payment options and payroll data organization.
- Benefits: This online tool provides seamless integration with current systems. It is easy to manage and operate. It can be integrated into any business and it offers a complete Team Management system. It is comprehensive and user-friendly.
- Risks: Modules are sold separately so it may cost users more than originally estimated to completely update their Team Management systems.
A pricing web-app that helps business owners analyze direct and indirect costs as well as profit probability and predictive buying patterns. Developed as a simple online tool, iRIVAL brings together cost analysis and pricing in an effort to bid more accurately. How many times have you submitted a proposal blindly, not knowing whether you were in the right strike zone? Well with iRIVAL, you not only analyze costs but also truly begin to understand how you can reallocate operational and project costs to build a more competitive pricing structure. It allows you to examine anticipated future costs, both direct and indirect, to make pricing decisions in alignment with your company’s future growth as well. The goal is to predict, based on the numbers, more wins, accurate cost estimates and bigger margins – this tool helps you do all of that seamlessly.
- Benefits: Analyzes pricing profitability and the competitiveness of your rates easily. Allows access to comparative pricing and to secure, time sensitive information from multiple devices because it is a cloud-based service.
- Risks: Requires integration with existing accounting software in order to produce highly accurate and competitive rates. Some business owners may also need to upgrade their accounting systems in order to maximize the results that they have when using this software.
eFAACT offers integrated web-based solutions for businesses that need to be ready for a DCAA audit. It’s used by organizations to manage and expand government contracts while remaining in compliance with the DCAA audit requirements. The software provides integrated reporting, government invoicing, time and expense, incurred cost schedules, and government invoicing tools.
- Benefits: The system has cost tracking, cost allocation, billing mechanisms and internal controls in order to help government contractors produce highly accurate reports. It can be installed through a cloud solution, stored on a local workstation, or accessed via an in-house server managed by the eFAACT support teams.
- Risks: May prove costly to integrate the complete system in order to remain in government compliance.
Pricing tools like these and others are now at your disposal to give you the competitive advantage you have been searching for. How are you increasing your price competitive advantage, we want to hear from you.