Frequently Asked Questions
What is RealPricer?
RealPricer is a revolutionary pricing service from MaterialExpress exclusively for the use of Electrical Distributors. The term “Revolutionary” is certainly overused, but if you take a few minutes to read the following information, you will agree that RealPricer is the most important profitability tool for electrical distributors that has come along in years.
How can RealPricer improve my profit margins?
In your business, where just a percentage point on sales price can make or break your level of success, being aware of market prices is a key factor in establishing your pricing strategy. Most electrical distributors devote significant resources to keeping abreast of market levels through a variety of means. Every under priced item represents many dollars of lost profit; conversely, charging too much can lose you business….often without your knowing.
How are RealPricer item prices created?
RealPricer compiles pricing from hundreds of thousands of actual electrical distributor invoices from all over the country.
How does RealPricer get distributor invoices?
Our eDAP program (Electronic Data Aggregation Program) is a network of electrical distributors that electronically send daily invoice information to our data service center. Compiled pricing comes from hundreds of thousands of actual electrical distributor invoices from all over the country. RealPricer doesn’t require eDAP participation from its subscribers. However, eDAP participants get important benefits with their RealPricer subscriptions.
How can I participate in eDAP?
Two methods are available for eDAP participants. Some of our customers participate in eDAP easily with our partner Invoice Connection's invoice delivery service www.invoiceconnection.com. Invoice Connection handles the invoice delivery via US Mail, FAX, email, and Internet and dramatically reduces the cost of distributing invoices. Using the Invoice Connection service also makes it easy to automatically participate in eDAP. The second method for eDAP participants is direct data feed. You simply transmit transaction data from your daily invoices in a secure data transmission.
Is eDAP data secure?
We know this is a big concern. We understand how disclosure of sensitive customer and pricing information can harm a business. That’s why we take enormous care with all data entrusted to us. We use state-of-the-art Internet security hardware and software to make sure that no data is ever released that could in any way hurt an eDAP participant. No buyers or sellers are ever disclosed. Only summary pricing information is used. You may participate in eDAP by providing transaction data only. No buyer information must be supplied.
How do I get my own prices to show up in RealPricer?
eDAP participants get the added benefit of seeing their own prices displayed side by side on the screen next to the RealPricer price, trade price, highest price paid, and lowest price paid. The whole RealPricer experience is enhanced for eDAP participants.
What other benefits are there for eDAP participants?
eDAP participants qualify for RealPricer and Invoice Connection service discounts.
Can my margins really be improved by using RealPricer?
The typical electrical distributor earns net income of only 4% of sales. The fast moving items typically make up 35-40% of sales. Focusing your pricing strategy on both the fast movers and the slow movers can improve a typical electrical distributor’s margins by 1-2%. The impact of this margin improvement to the bottom line is huge, up to 50% improvement of your net income.
Contact Material Express sales at 800-594-7044 for details.
