Maintain Quality Profit Margins with the Margin Driven Pricing Module in NCR Counterpoint
Businesses all around the world strive to serve its audience with the best services and products. The retail industry is filled with businesses that strive for customer satisfaction as their number one priority. However, there are other verticals that businesses need to explore and focus on when we talk about complete business success. Complete business success is only possible if the business is profitable while satisfying the customer with excellent products.
To enable proper profit margins, businesses around the world analyze and strategize custom pricing strategies that may result in a specified profit across all product categories. This is one of the most premier strategies to maintain price range while profiting in terms of total revenue.
With the revolution of technology upon us, businesses around the world take the advanced way out by opting for custom financial software take the charge. However, this results in an added cut to their original budget due to the monthly recurring payment of such advanced software. Enter NCR Counterpoint’s Margin Driven Pricing Module!
Margin Driven Pricing with NCR Counterpoint
The development experts at POS Highway focused on creating a revolutionary integrated module that focuses on applying margin driven pricing to inventory that’s already part of your point of sale system. NCR Counterpoint features one of the most advanced margin driven pricing feature that intelligently adapts to the pricing management system.
Counterpoint allows you to define minimum and target profit margin values for all categories and sub-categories that may apply to your retail dimension of business. The module then allows you to set a ‘Price 1’ for your product based on these values. These price 1 values then apply to the entire category or sub-category and indicate whether the price is below, above, or between the set profit margin.
Whether you’re in the middle of updating the pricing for your outdated inventory or busy uploading new products to the same category, this visual indicator allows you to change the pricing as per the target margin indication with the simple click of a button. With one click, you can dynamically adjust the price point of all targeted products in a single inventory category.
The Importance Of Margin Driven Pricing
Margin driven pricing is one of the most important features that apply to all retail businesses. Each business in the retail sphere selling products can reduce manpower with such a feature that goes lengths above intelligently updating the targeted margin pricing with merely the click of a button. The feature additionally directly affects the business revenue allowing you to benefit on your incoming revenue without spending on added software or financial applications and reducing manpower. It’s a win-win!
With the ease of usage that NCR Counterpoint provides, it is nothing short of brilliant that it doesn’t require dedicated finance professionals to operate it. You as the business owner yourself can add your desired profit-based margin driven pricing in just a few taps.
All in all, margin driven pricing can benefit businesses all over the retail industry. Get your hands on the NCR Counterpoint today to witness margin driven pricing first hand.