Price verification ensures adherence to pre-negotiated prices across all distribution channels. For decades, TreviPay’s Contract Price Verification Service has provided price automation, including auditing and correcting point-of-sale pricing for buyers.
Why is this so valuable? Being able to guarantee customer pricing tiers with specific pricing, down to the SKU (Stock Keeping Unit) level is instrumental in delivering an outstanding customer experience. Client-defined price files are uploaded into the TreviPay platform and TreviPay automatically verifies that the distributor sent the correct price for that specific customer, on the specific date, for the specific SKU. If the price is incorrect, TreviPay automatically notifies the distributor, who will correct it and resubmit it. This ensures customers always receive their contracted price and avoids disputes and customer frustration. And it even contributes to building brand loyalty.
TreviPay’s Contract Price Verification Service
Step 1. Pricing agreement Step 2. Updates, as needed Step 3. Purchase
“The primary way B2B businesses create loyalty is through contract pricing segmented by customer. Most medium and enterprise businesses don’t want to hassle with points programs,”
Courtney Buchmann, Principal Product Manager at TreviPay.
The challenge for manufacturers lies in enforcing contract pricing through all channels. Contract price verification unlocks great strategic opportunities to create loyal customers. Enterprise businesses want simple discounts based on their committed spending. For sellers with a distributor network this can be difficult to enforce. When price verification is performed at processing, in real-time at the point-of-sale, TreviPay can even automatically recalculate sales tax based on the adjusted price using the Contract Price Verification Service.
Case Study, a Look into OEM Programs
TreviPay’s OEM sellers have used this pricing strategy to dictate prices based on customer type for fleets. Special price adjustments apply only to specific products based upon specific customers purchasing from specific merchant locations, which allows discounts against the current price book.
Price file updates can contain over 4 million price records that are updated regularly (daily and weekly) with the automated price file loader. Price adjustments at processing can be used as a marketing strategy to guarantee program savings to customers, allowing any price adjustments to be paid out as rebates.
Client Wins
- TreviPay’s Contract Price Verification Service is a powerful marketing tool that can be leveraged as a fundamental program benefit for customers.
- Clients can earn money back from program participation and reduce program attrition.
- Price adjustments can be the first step toward a traditional loyalty program, offering rebates for customers.
To learn more about TreviPay’s Core B2B Loyalty Features give B2B Loyalty Management and OEMs a read.
Special thanks to the following contributors: Daniel Zimmerman, Danny Cates, Alesandro Melendez and Courtney Buchmann
