Putting a right price on a product or service is one of the most difficult challenges faced by businesses today. Behind the perfect price tag is a thought-out strategy, a unique combination of multiple cost-drivers and consideration of market demand levels. Businesses must evaluate all cost factors (variable and fixed) along with margins to devise a suitable pricing strategy. In today’s every-changing markets, consumers won’t buy your product if the price is too high or too low.  A majority of businesses fail in the first 5 years with “poor pricing techniques” as a leading cause.

But the real underlying root cause of poor pricing is the inability to effectively determine the costs of producing a product. For service-oriented industries, cost determination becomes even tougher. Most businesses find it difficult to determine accurate costs of producing a certain product due to the unavailability of quality financial data. This clearly reflects a lack of internal control and transparency.

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But with the rise in technology, many businesses are adapting to new technology-based functions to increase efficiency. Automation solutions are providing businesses with tools that help streamline processes and perform better in the market.

Value Creation Automation Driving Transparency

Value Creation Automation is unique business solution designed to help businesses perform better and excel. The solution works in an integrated manner unlike other ERP systems which comprise of multiple modules. Organizational workers and managers are given sufficient control of allocated tasks along with real-time view of data. As far as finance and costing is concerned, one of the key features of VCA stems from“cost transparency”.

VCA automated cost and finance system enables multiple financial activities to take place simultaneously. The need for manual finance data input and bookkeeping is eliminated. Imagine not having to rely on a finance team to provide you with financial statements. Imagine having access to financial reports in real-time, anytime, any day.

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Businesses can keep track of costs at task and process level. This means the system will provide managers with a real-time view of the production costs related to the process of a single output/unit. For example, all variable and fixed costs of a single product unit can be easily viewable by finance managers, enabling them to determine the cost efficiency and contribution to profit levels.

VCA’s cost management system eliminates the risk of fraud and can help detect any activity going beyond allocated budget in real-time. This level of transparency does not come with any other automation solution. With such accurate real-time financial data available, managers can effectively devise pricing strategies and move ahead of competitors.

Value Creation Automation is gaining popularity in a range of industries. So don’t wait any longer and get a free consultation from VCA experts.