Price Monitor

OnePosting provides invoice automation solutions that operate on a secure cloud platform serving 60,000 clients across 29 countries.

One of these solutions, Price Monitor, is designed to improve your gross margin by identifying pricing issues on invoices received from suppliers. Operating independently on our secure cloud, it does not require resources from either your IT or Accounting functions.

Setup is simple – taking less than 3 minutes, and you can even avail of our pilot offer so that you pay nothing until you see a positive impact on your gross margin.

What is Price Monitor?

Price Monitor is designed to identify discrepancies that typically account for between .5% and 1.5% of spend with suppliers. A one-off price-supplier audit — even repeated at regular intervals — detects historic issues that are extremely valuable in dealing with vendors and cost minimization.

Price Monitor does this all the time, providing constant monitoring that highlights any price discrepancies as they occur. Over time, prices can be compared to other businesses for optimization.

Supplier monitoring: we monitor each product with each supplier over time. We check for things like price increases, decrease, spikes, discounts, etc.
Catalogue comparisons: if a price catalogue is supplied (containing contract terms) then we compare the supplier prices with this. If you don’t have a catalogue we can generate one for you that then forms part of your yearly price negotiations.
Benchmarking: we hold product catalogues that are dynamically grown against each of your suppliers. It is straight forward linking products across multiple suppliers to do comparisons.

Features

OnePosting Price Monitor automates many aspects of a traditional manual Price Audit.

Establish price catalogue for every item purchased
Identify lowest price from vendor
Highlight price variances between invoices & catalogue
Facilitate analysis of pricing between locations
Plot pricing trends over time

Set-up

The set-up of the OnePosting Price Monitor can be done quickly and without involving the IT department.

Register for the service with company name and contact details
Select 15 to 20 suppliers to analyse
Let system run for 12 weeks to gather results