What is Price Book?
Price Book is a core concept in modern B2B revenue. Here is a clear, accurate definition, why it matters, and how Ardovo handles it.
Short answer
A price book is a structured list of a company's products and services with their official prices, used to ensure reps quote consistent, approved pricing. It may include multiple price books for different regions, segments, or currencies. The price book is the pricing source of truth that feeds quotes, CPQ, and contracts.
Key takeaways
- The official list of products and approved prices.
- Can vary by region, segment, or currency.
- The pricing source of truth for quotes and CPQ.
- Keeps pricing consistent across the team.
Why it matters
Without a governed price book, reps quote inconsistent prices, undermining margin and trust. A single approved price book ensures every quote reflects the pricing the business intends.
How Ardovo handles it
Ardovo uses a governed price book to drive quotes and CPQ, so line items always pull approved pricing. Rook builds quotes from the price book, keeping pricing consistent and reducing manual errors.
Frequently asked questions
Why use multiple price books?
To handle different regions, currencies, customer segments, or partner tiers that require distinct pricing. Multiple price books let a company maintain consistent, approved pricing across varied markets and deal types.
How does a price book relate to CPQ?
CPQ pulls prices from the price book when configuring and quoting, applying the correct approved rates and discount rules. The price book is the pricing foundation the quoting process depends on.