Organizations of all types are confronting an array of costly issues – supply chain bottlenecks still constrain inventories, inflation is now at a 40-year high, open jobs are tougher to fill and labor costs have increased along with average employee attrition rates.
It’s anticipated that in addition to labor, outlays for insurance, medical services, shipping, and energy, along with increased interest rates will drive up operating costs in 2022. If consumers balk at continuing to pay escalating prices, companies will soon see their profit margins decline.
Because of these headwinds, companies are fighting to remain profitable. Many are looking for effective ways to cut costs without compromising the quality of their products or services. Adopting techniques and tools to enhance efficiencies allows organizations to reduce costs and increase workers’ job satisfaction without diminishing product/service quality. Reducing the time and labor required to perform certain recurrent and repetitive “housekeeping” tasks such as creating invoices, managing purchase orders, scheduling production, and updating pricing can potentially create significant cost savings.
Often, these housekeeping tasks require manual data entry and can delay other more important tasks. Reducing or eliminating the time spent on these tasks increases productivity while freeing employees to work on more interesting and challenging assignments which can increase worker job satisfaction and attract new hires.
Organizations wanting to automate these manual tasks might have neither the budget nor the available skilled personnel. Many IT departments are already overwhelmed with high-priority project backlogs. Organizations are bringing in outside programming talent to tackle these automation projects or are acquiring pre-built software that can be quickly installed and customized for their purposes.
We at TotalTek recognize that much of the need for utility programs designed to quickly automate time-consuming, mundane but often vital tasks goes unmet. One of our current efforts involves our partnership with the Waupaca Foundry in the development of our proprietary TotalPricing tool, which reduces the time and effort now required by SAP users to apply price changes. It is especially useful for organizations with complex pricing models and multiple ways of pricing the same product (multiple key combinations). Organizations having an extensive product line can devote several labor hours every day to update prices. We have clients that employ full-time teams who do nothing but run price updates.
The TotalPricing utility allows users to report against multiple key combinations and pricing conditions in a dynamic report that can be downloaded to Excel for analysis. TotalPricing allows users to select prices from the report and apply a mass price change of a set dollar amount or percentage increase, and users can set the future date on which price changes take effect. Price updates require no more than the push of a button! TotalPricing also supports uploading mass changes from a spreadsheet and applying the updates. This utility has proven to reduce the amount of time spent on these tasks up to 70% (or more) freeing up price entry teams to work on value-added projects.
Find out more about TotalPricing
TotalTek listens closely to our clients to understand their needs and concerns. This enables us to offer creative ideas and unbiased recommendations to help them overcome their challenges, enhance their competitive standing, and attain their business goals. Clients have access to a deep bench of highly qualified and experienced talent unique to TotalTek.
Our proprietary TotalPricing tool underscores our commitment to looking at big picture issues and finding ways to help our clients become more efficient. If you would like to learn more about TotalPricing or other IT solutions, please reach out to us via our website. We would love to do a demo of TotalPricing and discuss our full suite of capabilities. Even if we do not have exactly what you are looking for today, there is always the opportunity for us to customize solutions or develop the tools you need.