Update supplier prices: avoid incorrect quotes

You check your quote one last time before sending it. The dimensions are correct, the options are included and the VAT is right. But if you do not update supplier prices, the basis of that quote may already be out of date.

Many business owners only notice this mistake after the customer has accepted. The price on paper may match your spreadsheet, but no longer what you need to pay for materials. A small increase per item can affect your entire margin on a larger job.

Why do outdated supplier prices lead to incorrect quotes?

A supplier price list can change without you acting on it straight away. A new list arrives, you save it in your inbox or downloads folder, and plan to process it later. Meanwhile, you keep creating quotes using the old amounts.

This happens especially when your prices are stored in several places. For example, in a supplier list, your own Excel file and old quotes that you keep copying as a starting point. It then becomes difficult to know which version is the leading one.

The issue is not limited to setting your selling price too low. Outdated prices also create uncertainty in your process. Your salesperson may think they are using the current price, while someone else used a different file last month.

You often notice the consequences at an inconvenient moment:

• You only discover when ordering that materials have become more expensive.
• You need to discuss an accepted quote because the price turns out not to be viable.
• Employees use different amounts for the same specification.
• You no longer know which price version was behind a particular quote.
• You manage based on turnover while your margin per job quietly gets smaller.

Of course, it is still wise to review a quote carefully. But that will not uncover a price increase hidden in the source data.

Why do separate spreadsheets make updating supplier prices vulnerable?

A spreadsheet is often a perfectly good place to start. You know your range, put dimensions and options side by side, and build a useful calculation. It becomes vulnerable once more people use it, your range grows or suppliers adjust their prices.

Imagine a veranda company receives a new supplier list for aluminium profiles and glass roofs. The owner updates the amounts in their own Excel file. But an employee uses a copy saved on their laptop two months ago. That employee prepares a quote for a veranda with a glass roof, side wall and installation.

The quote looks neat. But the profile price and the roof still come from the old list. The customer accepts the quote, after which the order costs more than expected. The error was not in the calculation. It started with a version that no one recognised as outdated anymore.

Separate files make this especially difficult because a change rarely reaches every place at once. Updating an amount in one tab says nothing about another file, an old copy or a quote someone builds manually. Especially when things are busy, people often work with whatever is quickest to hand.

If you also want to see how to prevent calculation errors more broadly, this article on preventing calculation errors in quotes can help. The principle remains the same: work from one current source, not from multiple copies.

How can you update price rules centrally?

The safest approach is simple: store your selling prices and, if you want to manage by them, your purchase prices centrally. A quote then always uses the same price rules. You no longer have to guess which file is the latest version.

In Klantly, you can manage prices with price rules. For products with size ranges and fixed combinations, you use a price matrix. Think of a particular width, depth and roof type. For products mainly calculated by square metre, metre or quantity, you can use a formula.

This makes updating supplier prices easier to manage. You update the price rules once, and new calculations use those updated rules. With a configurator, the price is also recalculated when the request is submitted. This means a request arrives with a calculated price, dimensions and choices, rather than separate information you need to calculate again.

A practical approach to applying a price increase is:

1. Save the new supplier list and determine which products or options are affected.
2. Update the central price rules first, not individual quotes or old copies.
3. Check several common combinations, such as standard sizes and popular add-ons.
4. Check whether any price combinations are missing after adding or changing choices.
5. Agree internally on when everyone should start working with the new prices.

If you have many rules, you do not need to type them in one by one. You can import prices from Excel, see what will change in advance and then confirm the update. This is especially useful when a supplier provides a complete list of new amounts.

What should you do if you apply an incorrect price change?

Working centrally does not mean nothing can ever go wrong. Perhaps a column is in the wrong place in your import file. Or you adjusted an amount that should only have applied to one size range. The difference is that you do not need to fix that error through even more separate files.

With price rules in Klantly, every change is saved as a version. You can see which version was previously active and restore an earlier version. That gives you peace of mind during larger updates: you do not have to wait until you are completely certain that nothing will need adjusting.

After a major change, always check a number of real situations. For example, choose a small product, a standard version and a version with several options. Compare the outcome with the new supplier list and check whether the selling price still fits your desired margin.

That last point matters. Simply adjusting supplier prices is not enough if you cannot see what remains at the bottom. By recording the purchase price and selling price per rule, you can better assess which version genuinely contributes. Also read how to calculate margin per job if turnover alone does not tell you enough.

How do you keep your price list up to date without reviewing every quote?

Make price management a fixed part of your process, not something you do only when there happens to be time. As soon as a new supplier list arrives, it should be clear who reviews it, who updates the price rules and who carries out a check.

This does not need to be a major project. It is mainly about one clear way of working. Do not let employees adjust amounts in their own files if the central list is supposed to be the leading source.

This is even more important for businesses selling made-to-measure products. A veranda, window frame or awning consists of choices that affect one another. If one price rule is behind, a quote that is otherwise perfect can still turn out wrong.

An up-to-date price list does more than protect your margin. You work faster because there is less to recalculate and less doubt about the amounts you send. That leaves room to make the quote strong on its content, rather than checking the basics over and over again.

Want to discover how Klantly can help you manage prices, quotes and customer work from one place? Start free.