Are your three-tier pricing management tools and processes giving you the ability to price your wine and evaluate trade spending correctly? After all, tracking, optimizing, automating, and reporting on all your DAs, trade spending, and promotions is how you’ll stay competitive, protect your brand, and ensure a healthy bottom line.

To help you determine if your workflows, infrastructure, or governance allow for efficient and profitable pricing management, Tradeparency’s industry data experts compiled 9 initial questions to ask and answer internally.  

These will help you reveal where you may have gaps in the complete cycle of your pricing management or what could be preventing you from pricing for profit effectively in the three-tier market:

1. How do you track and analyze approved deals by product, date, region, or distributor?
2. Can your sales managers access price grid reports on-demand?
3. What is your process for handling exception-based managerial approval of new deals?
4. Do your current pricing tools base depletion allowances and chargeback invoice reconciliations off third-party depletion numbers only? Are you able to reconcile against actual approved deals and invoices?
5. Do you have tools that integrate seamlessly to cover everything in the cycle of trade promotion management, not just pricing alone? For example, claims/collection, accounting, reporting/analysis, and promotional planning?
6. Are you able to support and enforce supplier-controlled billback pricing versus only distributor-to-supplier-controlled billback pricing?
7. How do you track and execute pulse deals?
8. What is your workflow for approving deals? What is manual in this workflow versus automated?
9. Are your trade/pricing management tools and processes integrated with your ERP or accounting system so you can work with common codes, invoices, credit memos, etc.?

Once you have rough answers to these questions, you can begin building a clearer picture of your organization’s pricing management and recognize any inefficiencies or identify opportunities that can significantly boost financial, brand, and operational performance.

To expand further on this exercise, download Tradeparency’s free Evaluation Checklist for Wine Pricing Management Software. It includes a self-service guide to appraising various pricing management processes and tools in your winery or import business to match your needs.

Once you’ve gone through the internal exercise with the questions above, you can take the checklist for a spin in a no-cost, personalized Tradeparency demo.

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