Manage Every Price Change with Confidence

In procurement and cost management processes, price confirmation with suppliers is a critical step that directly impacts business data accuracy, cost planning, and procurement efficiency. Without a structured process to manage price changes, organizations may face data inconsistencies, approval delays, and operational risks that can affect business performance in the long term.

The Price Confirmation Application is a comprehensive platform designed to manage the entire price confirmation process, from new price requests, price revisions, and price deletions to price analysis, approval workflows, and ERP integration. By centralizing all pricing activities within a single system, organizations can ensure that price changes are managed accurately, transparently, and efficiently.

With automated workflows and centralized data management, Price Confirmation enables organizations to maintain full control over pricing information while ensuring compliance with internal approval policies and business requirements.

Price Confirmation is the process of validating and confirming prices that have been mutually agreed upon between an organization and its suppliers after negotiations and supplier selection have been completed.

The system serves as a centralized platform for managing pricing information and supports three primary transaction types:

• New Price – Creating a new price record
• Price Revision – Updating or modifying an existing price
• Price Deletion – Removing obsolete or inactive prices

Every pricing change is recorded, reviewed, and approved through a structured workflow before being transferred into the organization’s price registration and ERP systems. This ensures that all pricing information used across the business remains accurate, up-to-date, and fully traceable.

The Price Confirmation Application is designed to support end-to-end price management processes through the following key capabilities:

1. Support for All Price Management Scenarios

The system accommodates three major pricing activities:

• New Price – Create pricing records for products or parts that do not yet have an established price within the system.
• Price Revision – Modify existing prices to reflect changes in material costs, market conditions, supplier agreements, or business requirements.
• Price Deletion – Remove outdated or inactive pricing records to maintain clean and accurate pricing data.

2. Compare and Review Historical Pricing Information

The system provides a Temporary Price Detail section that allows users to review previously registered prices.

This enables users to compare historical and proposed prices, identify differences, and make informed pricing decisions with greater confidence.

3. Direct Integration with Supplier Quotations

Within the Price Confirm section, users can select the quotation that will be updated with the confirmed pricing information.

This ensures consistency between supplier quotations and the pricing data used internally throughout the organization.

4. Price Analysis and Decision Support

The Price Analysis section allows users to document detailed explanations, justifications, and supporting information related to pricing changes.

This provides approvers with the context necessary to evaluate and approve pricing decisions effectively.

5. Comprehensive Cost and Pricing Visibility

The Price Detail section displays all relevant information collected throughout the RFQ and Cost Analysis processes.

Data is organized into multiple tabs, allowing users to review pricing structures, cost details, and supporting business information before making final decisions.

6. Automated Approval Workflow Based on Price Authority

The system supports configurable approval workflows based on pricing thresholds and organizational authorization levels.

When multiple quotations are included within a single request, the system automatically determines the required final approval level based on the highest quotation value.

This ensures compliance with company policies while minimizing approval errors and administrative effort.

7. Automatic Price Confirmation Document Generation

Once a request is submitted, the system automatically generates a Price Confirmation document.

The document serves as an official reference for approvals, audits, and communication among stakeholders.

8. Integration with the Price Registration Process

After receiving Final Approval, pricing information proceeds to the Price Registration process and is prepared for integration with ERP systems such as AS400.

Before final confirmation, the system provides a complete summary of all information for user verification.

Once confirmed, the approved pricing data is transferred into the organization’s central business systems for operational use.

9. Automatic Supplier Notification

Upon completion of the price confirmation process, the system automatically sends a notification to the supplier.

This notification is provided for informational purposes only and does not require any action from the supplier. It simply ensures that suppliers are informed of the finalized and approved pricing information.

Many organizations still manage pricing information through spreadsheets, emails, and disconnected systems. These manual processes often result in delays, inconsistencies, and increased operational risks.

Our Price Confirmation Application addresses these challenges through a centralized and automated platform.

1. Structured Price Change Control
   All price additions, modifications, and deletions are managed through a single standardized workflow.

2. Improved Pricing Accuracy
   Pricing information is directly linked to quotations and cost data, reducing duplication and minimizing manual entry errors.

3. Faster Approval Cycles
   Automated approval workflows streamline communication and accelerate the approval process.

4. Complete Audit Trail
   Every activity is recorded and traceable, providing comprehensive documentation and historical records for compliance and auditing purposes.

5. Seamless ERP Integration
   The system reduces manual work and minimizes the risk of errors before transferring approved pricing information into AS400 or other ERP platforms.

Implementing the Price Confirmation Application delivers significant business benefits, including:

1. Reduced Risk of Incorrect Pricing Data
   All pricing changes are reviewed and approved according to predefined workflows and authorization policies.

2. Faster Pricing Management Processes
   Organizations can significantly reduce the time required for document preparation, review, and approval.

3. Greater Transparency in Decision-Making
   Pricing data, cost structures, and supporting justifications remain visible and accessible throughout the process.

4. Standardized Pricing Governance
   Organizations can manage pricing information consistently across departments and business units.

5. Improved Business System Integration
   Approved pricing information can be transferred quickly and accurately into operational systems, improving overall business efficiency.

Price Confirmation Application is more than just a price validation tool. It is a comprehensive platform that manages the entire lifecycle of pricing information—from price creation and modification to approval and ERP integration.

If your organization is looking to strengthen pricing governance, reduce data-related risks, and accelerate business operations, Price Confirmation is the ideal solution for driving efficiency and supporting sustainable growth in today’s digital business environment.