Price Change Audit

Over the past few years, the cost of doing business has increased dramatically. In order to be competitive and operate in a world with tight margins, companies must ensure that products are being charged correctly not only to help ensure consistency, but also to be able to maximize profitability.

 

Price change auditing ensures that the point of sale is charging the correct price to customers, and gathering this information is key to identifying any variances that may be impacting the sales of the organization.

 

Do you see $100 in cash the same as $100 in food? To drive profitability, we must be more diligent and manage every line item on our P&Ls. Taking into consideration the aspects that are often overlooked will help your organization increase your margins, which will result in allowing you to continue to operate, service your customers, pay your team members and, ultimately, grow your business.

 

Price Change Audits can be used to conduct a thorough review of product pricing and to help ensure that controls over pricing and discounts are effective. Management and personnel should understand all processes for price changes, including communication of updates.

 


How can Zenput help?

  • Create forms that focus specifically on Price Change Checks
  • Utilize the photo capabilities within Zenput forms for locations to document accurate menus and pricing
  • Utilize submission reporting to regularly review the status of Price changes across locations, and close the gap on locations that may not be properly following the company’s updated price list  
  • Notify the right people and take corrective actions whenever there is inconsistency in Pricing
  • Use announcements to celebrate and share examples of well performing stores to your entire company. Reinforcing through celebration can have a positive impact on company culture while driving expectations. 

If you would like to have this form template added to your Zenput account, please copy and paste the message below into the Chat function in Zenput and our Support team will add it for you: 

“Hi Support, can you please add the form below to our account? Price Change Audit : Loss Prevention Pillar - 457597” 

 

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