Ignition launches AutoPricing tools to ease price updates

Ignition has introduced AutoPricing, a new set of pricing automation tools designed to help professional services businesses streamline bulk price increases.

The new AutoPricing capabilities allow businesses to implement price updates for multiple clients simultaneously, particularly useful when editing or renewing proposals. This feature aims to immediately augment revenue by facilitating the process in a simplified manner.

Greg Strickland, Chief Executive Officer of Ignition, commented, "Too many businesses hesitate to raise prices because the process is cumbersome and the conversations are awkward - ultimately leaving revenue on the table. At Ignition, we believe pricing should be a strategic growth driver, not a source of stress. With AutoPricing, we're empowering businesses to easily adjust their fees to improve profitability and confidently charge what they're worth. This allows them to focus on smarter pricing, rather than cutting costs or chasing client volume."

According to Ignition, a recent pricing benchmark indicated that over half of US accounting firms are planning fee increases of 5 to 10% in 2025. The anticipated response to rising costs is also expected to influence other small and medium-sized businesses, many of which rely on accountants for guidance on managing revenue and cash flow.

AutoPricing is designed to streamline the renewal process of client agreements, thus allowing businesses to concentrate on enhancing revenue and profitability with reduced manual intervention.

Among the new functionalities are automated price increases for multiple clients, simplifying contract renewals and promoting pricing consistency. Clients or segments can be assigned a percentage price increase, which is applied automatically. This feature also allows for adjustments for specific clients using a pricing wizard. Notifications of price adjustments can be sent using pre-built email templates, helping professionals avoid uncomfortable conversations with clients.

Joey Albertson, owner of The Profitability Project, expressed satisfaction with the new tools, stating, "It's impossible not to be excited. Look at that extra revenue that comes from five minutes of my time now that I can increase fees in a much more streamlined way." He added that while business owners prefer not to spend time on administrative tasks, efficient pricing is crucial for improving revenue.

The AutoPricing tools build on an existing feature that applies percentage price increases during individual agreement renewals. This feature has reportedly resulted in an average price increase of eight percent, generating $8.7 million in additional revenue.

Ignition plans to continue advancing its AutoPricing suite, with potential future developments involving artificial intelligence to provide real-time pricing intelligence and insights. This would enable service-based businesses to price their offerings with greater confidence.