PriceSmith provides price execution software specifically built for NetSuite users to manage pricing operations efficiently. The platform enables real-time forecasting, approval workflows, and streamlined price delivery across the organization. This results in faster price implementation, improved margin realization, and higher customer price acceptance rates.
Funding
Funding not disclosed
Founders
Product
Problem
Wholesale distributors and manufacturers often struggle with managing product pricing and customer quotes efficiently, leading to inconsistent pricing practices and reduced profitability. Reliance on spreadsheets and manual processes makes it difficult to maintain accurate and up-to-date pricing information.
Solution
PriceSmith offers an end-to-end pricing platform designed to streamline pricing management for wholesale distributors and manufacturers. The platform provides tools for product data management, customizable pricing strategies, and flexible quoting, enabling businesses to improve pricing accuracy and consistency. By centralizing pricing data and automating key processes, PriceSmith helps companies minimize errors, optimize pricing decisions, and enhance profitability. The software is designed to be easy to use, even for non-pricing professionals, and requires minimal data to get started.
Target Audience
PriceSmith primarily targets mid-market B2B wholesalers with less than $1B in revenue who currently manage their prices in Excel or their ERP system.
Features
- Centralized product price management to create price lists and segmentation strategies.
- Product Data Manager to add custom fields and reorganize product groupings.
- Customer price management to manage account profitability and price agreements.
- Flexible quoting tool to generate account-specific, custom-formatted quotes.
- Customizable pricing procedures adaptable to various customer and product groups.
- Ability to schedule price changes in advance and send them to customer-facing teams for review and approval.
- Tools to manage product relationships, set custom formulas, and monitor profit trends.