Specialty chemicals manufacturers spend a great deal of time and energy negotiating smart price formulas with their customers. However, the best formula is only as effective as its inputs. The speed and frequency with which raw material costs change makes it impossible for pricing teams to keep up when working manually within disconnected systems.
In this whitepaper, we explore a better way to manage formula pricing with dynamic pricing software. A reimagined approach built atop modern price management and deal management software allows specialty chemicals manufacturers to:
- Connect all internal systems and pull in external cost data in real-time
- Store formulas and the components that make up each bill of materials in a centralized hub
- Automatically recalculate formulas as cost inputs change
- Quickly cross-check customer agreement terms
- Deliver transparent price changes to sales reps directly inside their quoting tools