Overview
At the capability level, we are narrowing our context to focus on the core capabilities of the Pricefx solution that delivers value to our customers. Each of these has a significant value proposition in the capacities of analytics, price setting, quoting, actionable insights, rebates, contracts, channel management, price optimization, and sales compensation.
The information for each of these capabilities will include their capacity for customization, configuration, extensibility, scalability, security, and overall effectiveness in addressing our customer's pricing needs and business objectives.
Impact on GenAI
By structuring the knowledge base to focus on a specific product’s capabilities within the Pricefx solution, the chatbot can provide accurate, relevant, and targeted information to users (ie. including features and functionalities, usage guidelines, creation and maintenance processes, troubleshooting steps, and other relevant details.
It enables the GenAI chatbot to better understand and address product-specific queries about its capabilities (ie. add, delete, update, etc) and that will lead to a more detailed response from a chatbot.
At this level, we are focusing on the core capabilities of the Pricefx solution:
Analytics, examining and interpreting large amounts of data to gain insights and make informed decisions.
Price Setting, use of analytics and market insights to determine the optimal price for a product or service that balances revenue, demand, and competition.
Quoting, allows sales teams to quickly and accurately generate quotes, while also providing real-time visibility into pricing and profitability, enabling informed decision-making and efficient deal closure.
Actionable Insights, advanced analytics, and reporting capabilities empower businesses to make data-driven decisions, optimize pricing strategies, and drive revenue growth.
Rebates, creates, and manages customer-specific agreements for all off-invoice conditions and enables you to calculate and simulate rebates.
Contracts, create and manage both promotions and agreements, which are used to define special pricing and conditions for customers, products, or product groups, and to track the impact of these promotions on your revenue and margin.
Channel Management, manage and optimize your pricing and margins across multiple channels, including direct and indirect sales, e-commerce, and distributors, and track the performance of each channel in real-time.
Price Optimization, advanced algorithms, and machine learning to analyze market data and customer behavior, and automatically optimize prices and margins in real-time to maximize revenue and profitability.
Sales Compensation, provides a flexible and customizable framework for designing and managing sales incentive plans, including commission, bonus, and other forms of compensation, to motivate and reward your sales team and drive revenue growth.
GenAI Prompt Examples
Below are some examples of GenAI prompts that are operating at this Capability level of contextual understanding:
Capability Prompt: "Explain the role of a watcher in actionable insights"
This capability prompt asks the GenAI chatbot to provide information about the Watcher capability within the Actionable Insights. The response might look like this:
In the context of Actionable Insights in Pricefx, a Watcher is a user-defined alert or notification that is triggered when certain conditions or thresholds are met in the data.
Watchers play a key role in helping users stay on top of their pricing and sales data by automatically notifying them when something important happens, such as when a specific product's price reaches a certain threshold, when a customer's usage patterns change, or when a sales target is met or missed.
Watchers can be set up to monitor a wide range of data streams within Pricefx, including product pricing, customer usage, sales performance, and more. Once a Watcher is triggered, it can automatically create an Action, such as sending an email or Slack notification, updating a spreadsheet, or triggering an automation in another system.
This allows users to quickly identify and respond to important events or opportunities in their pricing and sales data, without having to constantly monitor the data themselves. By setting up Watchers in Pricefx, users can save time, increase productivity, and make more informed decisions about their pricing and sales strategies.
Capability Prompt: "How do we manage complex pricing conditions for promotions"
This capability prompt asks the GenAI chatbot to provide information on the management of pricing conditions within the Promotions capability. The response might look like this:
The Agreements & Promotions module offers a range of features to help you manage complex pricing conditions for promotions, including:
Condition Types: Define different types of conditions that can be used to create complex pricing rules. For example, you can define conditions based on product attributes, customer attributes, or sales transactions.
Condition Logic: Define logic for how conditions should be evaluated. For example, you can specify that a certain condition should be met only if a specific product is purchased, or if the customer's total purchase amount exceeds a certain threshold.
Discounts and Surcharges: Define discounts or surcharges that should be applied based on the conditions you've defined. For example, you can define a discount for customers who purchase a certain product or a surcharge for customers who purchase over a certain amount.
Product and Customer Hierarchy: Define product and customer hierarchies to apply conditions and discounts to specific groups of products or customers.
Approval Workflow: Define an approval workflow to ensure that promotions are reviewed and approved before they are applied to customers.
Analytics: View analytics on promotion performance, including the number of customers eligible for a promotion, the number of customers who have redeemed the promotion, and the revenue impact of the promotion.
To manage complex pricing conditions for promotions using the Agreements & Promotions module, you can follow these steps:
Define the conditions that should be met in order for a promotion to be applied. This could include conditions based on product attributes, customer attributes, or sales transactions.
Define the logic for how the conditions should be evaluated. For example, you can specify that a certain condition should be met only if a specific product is purchased, or if the customer's total purchase amount exceeds a certain threshold.
Define any discounts or surcharges that should be applied based on the conditions you've defined.
Define the product and customer hierarchy to apply conditions and discounts to specific groups of products or customers.
Set up an approval workflow to ensure that promotions are reviewed and approved before they are applied to customers.
View analytics on promotion performance to measure the success of your promotions and make adjustments as needed.
Capability Prompt: "What are the dashboards delivered with customers insights accelerator"
This capability prompt asks the GenAI chatbot to identify the specific dashboards that are installed with the Customer Insights Accelerator. The response might look like this:
The Customer Insights Accelerator delivers the following dashboards:
Customer Global View: Displays a summary of customer data across all products and time levels.
Customer Product Portfolio: Provides a detailed view of customer segments and their respective product usage.
Customer Summary: Offers a quick overview of customer data, including revenue, margin, and volume trends.
Detail View: Allows for in-depth analysis of customer data, including time-series analysis and data drill-down.
These dashboards offer various features such as time-series analysis, data drill-down, and classification of customers based on their health scores. Additionally, the accelerator includes new features like Customer Summary portlet and improvement in the Customer Detail View.