You have options when it comes to pricing in Dynamics GP
Some are natively within GP, while others are add-ons. We are going to go through 4 different options with you.
GP Standard Pricing is your basic pricing. You can create price levels and assign them to customers, so they get the needed pricing. It is easy to set up. When you enter transactions, the price level will usually default and pull the price for them. They can always change it, but it is just a simple way to pull in the price.
Extended Pricing is also from Microsoft and is a bit more flexible than Standard Pricing. It is entirely separate, so in order to use it, you have to turn it on. It will then completely ignore Standard Pricing. It can be annoying to have to switch between the two.
Omni Price takes pricing to a new level. With Omni Price, you have more ways to filter and can have multiple contracts. You can prioritize them as well, so if there is more than one contract valid for a transaction line, it will then look at the priority. A central feature of Omni Price is that you can use dates to filter the contract. This is big for those places that have special pricing just for a date range or even annual pricing.
Rockton Pricing Management is also a pricing tool like Omni Price but with more functionality and flexibility that most pricing needs can be met and if not, it is highly doubtful any pricing solution could do it.
What are the Pros and Cons for each?
You can create different price levels per Item to determine pricing. This allows you to assign different pricing to customers. For example, you could have Item A that is $5 for warehouse customers, $7 for retail customers, but then maybe you also have some loyal customers where it is $6. This allows you to assign the appropriate price level per customer.
You also have different options on how you calculate a price within GP. These are price methods. You can base it on the cost of the item (the amount you paid to get the item in stock). So maybe you paid $10 and you use a price method of % of current cost and you choose 2% – the price it sells at would be $12. You could also have it based on the price you choose. Lots of options.
That info is pretty standard for an ERP software. The add-on products are where it adds more flexibility.
This is an add-on in Dynamics GP, but it is still part of GP. This is a little different than the GP standard pricing. If you are going to use Extended Pricing (EP), then you need to enable it and GP Standard pricing is completely ignored. You instead use Price Sheets and Price Books to get your pricing. With EP, you can have date-driven pricing and can be more customer-driven. You can also do promotions through EP such as buy one get one 50% off or buy three and get one free.
You can definitely step up your pricing game now. Omni Price allows for more complex pricing scenarios but is easily added to GP on top of the Standard Pricing. Therefore, all your existing pricing is still valid. You can add to the existing pricing, but you can also set up rules to override the standard prices based on several conditions. Omni Price offers greater flexibility on pricing than offered by Standard Pricing or Extended Pricing because of its use of filters and intra range selection.
Rockton Pricing Management
Like Omni Price but more robust. Extremely flexible pricing. It meets almost any pricing needs you may have. You can base pricing off GP pricing and then add calculations. Rockton Pricing Management isn’t any ordinary pricing tool. It’s only the most flexible, powerful, multi-platform (yes, it works with any ERP!) pricing solution ever available.
As you can see, whatever your pricing needs are, Dynamics GP and Rockton Software have got you covered. No matter how simple or complex, we have the right pricing tool for you!