While manual monitoring prices is not impossible, there are several impediments to its realization. First and foremost, the more competitors you have, the more problematic it will be to harvest their pricing data. Besides, to be effective and bring fruitful results, the process of prices monitoring needs to be continual, which is only achievable with the help of automated tools. Simply put, although you can manually collect some pricing data from your competitors’ websites, this is not price monitoring in the fullest sense of the word.