...
Optimization in Pricefx is effectively done through a selection of accelerators that aim to help you quickly implement existing use cases or adjust Pricefx behaviour to your needs. We are constantly developing more accelerators to help customers with common use cases.
...
| Info |
|---|
List Price Optimization, a NEW Accelerator on Optimization, is now available in Rampur 13.0 |
...
| Tip |
|---|
Check our list of available Accelerators, here. |
...
| Info |
|---|
LEARN MORE: To know all the ins and outs of this accelerator, check our documentation. |
List Price Optimization
...
List Price Optimization enhances business profitability through strategic pricing by targeting higher margin rates and allowing precise price adjustments across the board or for specific product groups. This approach ensures effective revenue maximization and aligns products based on attributes such as brand or premium status to attract the right customer segments. The accelerator provides data-driven recommendations and insightful dashboards that display key metrics like recommended list prices, expected revenue, and margins, aiding informed decision-making.
Key benefits include the ability to strategically target and achieve a margin rate increase, customize list price adjustments, control price changes by setting limits, and define price boundaries to ensure competitiveness and profitability. The model offers tailored recommendations for list prices by product, with detailed impact assessments at both product and customer levels. These optimized prices can be viewed within the Pricefx solution or accessed through external systems via APIs.
The intuitive dashboards allow users to review and assess optimization results using charts and tables, providing a comprehensive view of the pricing strategy's effectiveness. The optimization process is straightforward, starting with the list price and adjusting for discounts, invoice adjustments, and rebates to calculate net revenue. This approach ensures a realistic view of financial impacts by considering past transactions, discounts, and rebates.
However, there are limitations: the model relies on past transaction data, excluding products with no sales history, and does not currently use price elasticity, which is planned for future updates. Additionally, there are no predefined extension points for custom features, requiring custom code for specific needs, which may complicate updates.
| Info |
|---|
LEARN MORE: To know all the ins and outs of this accelerator, check our documentation. |