What is Price Monitoring?
Price Monitoring gives you a way to track where client fees need updating, and allows you to issue minor adjustments or full renewals without hours of manual checking.
Monitor selected services and/or drivers in your pricing menu:
See where a service price increase didn't reach every client
Track whether software costs like Xero or QBO are being passed on to clients correctly
Monitor whether client volumes, such as invoices, employees, transactions, have grown beyond what their current fee covers
Prepare for renewal conversations with real usage data rather than memory or gut feel
Make quick adjustments or trigger a full renewal based on the monitoring results
How Price Monitor works
Price Monitor compares what clients are currently being charged for the services you select to monitor, against what they should be charged based on two types of information:
Pricing Impact: changes that came from your pricing menu. If you've applied a pricing menu update or changed your service rates for the monitored services, Pricing Impact shows how that has flowed through to client proposals, and flags anywhere it hasn't.
Data Impact: changes driven by real-world client data. If a client's invoice volume has increased, their payroll has grown, or their bank statement lines have doubled, Data Impact flags the gap between their current fee and what their usage now warrants.
You can view both together or toggle Data Impact on and off depending on what you're reviewing.
What you can monitor
Client volumes and business metrics (Driver Metric Monitor)
Upload client data from the tools you already use and Socket will compare actual usage against proposal pricing. Supported metrics are:
Bank Statement Lines
Bills
Employees
Invoices
Annual Revenue
Transactions
Pricing menu uplifts
Track how a global price change has landed across your client base. See which clients have been updated and which are still on old fees.
Software recharges (Subscription Monitor)
Upload invoice exports from software vendors and Socket will reconcile them against what you're charging clients. Supports Xero and QBO exports.
See guide: Getting started with Subscription Monitor
The dashboard
Once data is uploaded, the Price Monitor dashboard gives you a consolidated view across all your clients and monitoring types.
Client Status
Each client is assigned a status:
OK: the proposal price matches the data
Overcharged: the fee is higher than the current data warrants
Undercharged: the client's usage or costs have grown beyond what their current fee covers
Missing Data: Socket couldn't complete the calculation. Hover over the chip to see what's missing.
Client Matching
Clients are assigned an icon in the first column of the dashboard to indicate their 'matched' status. This tells you if the client is mapped to a Socket client or not.
Client Icons Quick Reference Table
1 |  | Client has been auto-matched by name. |
2 |  | Client has been manually matched. |
3 |  | Client name was not in the import file, but this Socket client has mapped to a Socket service/driver being monitored. |
4 |  | Client name needs to be manually matched to a Socket client. (The client name was added to the import but has not auto-matched). |
Dashboard Controls
The dashboard gives you a variety of controls and filter options to make it easy to segment data.
'Calculate against' allows you to select which pricing menu you want to check client fees against. This helps you understand where revenue may be missed if clients stay on old fees or move to your current pricing.
'Pricing as of: Today' checks client pricing against your latest Active pricing menu.
'Pricing as of: Proposal Start Date' checks client pricing against the fees at the time of the proposal activation. Choose this option if you do not want to move clients to your newest fees.
'Include Data Impact' toggle allows you to view client price changes based only on pricing menu.
Dashboard filter options:
Search: search client names to find a specific record.
Status: select which client status you want to view.
Template: select specific upload templates you want to view, or select all.
Source:
Include All shows all clients from the import CSV and any others found in Socket associated to the monitored services or drivers.
Uploaded Only shows only the imported clients.
Missing from Uploads shows any flagged clients that were not included in the import sheet.
Excluded Dropdown: Select to show or hide excluded results from the monitor dashboard.
Pricing totals show a breakdown of totals across all variables, so you can see the full revenue gap across your client base at a glance.
Sorting Options
You can sort clients by any column in the dashboard by clicking the column header. For example, you might want to sort by revenue impact to prioritise the highest-value discrepancies first.
What to do with your results
Price Monitor flags the discrepancies. Click into any client to see:
Their current proposal driver limits and actual usage values
A breakdown of variance by driver or service line
A direct link to their proposal to take action
What you do next depends on the situation:
For undercharged clients: send a revised proposal, trigger a minor adjustment workflow, or flag for renewal. Socket's adjustment workflow lets you correct pricing without starting from scratch.
For overcharged clients: adjust driver limits to reflect current usage, or note for the next renewal conversation.
For software recharge gaps: correct the client's fee to reflect the updated vendor cost, or use the data to inform your next pricing review.
Not ready to act right now? You can exclude individual clients from the results, or note the gap and return to it at renewal time. Price Monitor is as useful for building a picture over time as it is for making immediate changes.