Typical user: Pricing Manager
Specific needs: the tool that can provide insightful analytics, manage price lists, discounts, support all pricing-related processes in the organization.
Analytics
A typical challenge for business: get useful analytics for better pricing decisions.
The excessive effort required to develop critical pricing-related analysis and guidance
Poor or incomplete visibility to valid profit drivers by customer and Product
Rigid views on our business performance which do not fit company need anymore
What does a pricing manager need:
Quickly identify sources of margin compression and price erosion issues
Uncover opportunities for immediate margin improvement
Flexible tools which you can be personalized with ease and customized in weeks
How do we solve it in Pricefx:
Valuable insights from sales transactional data
Segmented/categorized views per customers, products, regions, etc., identification of low performers
Pinpoint causes of margin leakage and take action
Uncover unwarranted discount variations
Compare your performance across periods and identify sources of change
Easy-to-understand Dashboards, fully customizable and personalized, updates in real-time
Enable to display and quickly uncover opportunities for profit, growth, and increased market share
To learn more about Pricefx Analytics, check our video tutorials and how-tos.
Price Setting
A typical challenge for business: structured price list management
Slow and laborious mass price updates that the pricing team occupy for weeks
Slow response to changes in cost, competition, and demand
Difficulty managing increasingly complex pricing strategy, rules, and guidelines
What does a pricing manager need:
Execute mass price updates with less workforce while improving accuracy and speed
Quickly and confidently respond to market changes
Make it easier for my team to manage complex pricing strategies
How do we solve it in Pricefx:
Create and manage price lists with set up rules and logics
Use price grids organized for fast price re-calculation across customer segments, products groups, or regions
Simulate the business impact of price changes
Maintain and change inputs like targets, increase %, competitive positioning, inventory levels, etc.
Response in real-time to change market conditions like competition, costs, indexes, weather, etc.
Automated price change approval workflows
Connect real-time with internal or external systems
Get the output prices into any format or system (ERP, Digital Commerce, etc.)
Embed analysis into your price-lists
To learn more about Pricefx Price Setting, check our video tutorials and how-tos.
Quoting
A typical challenge for business: negotiation of profitable deals
Lost deals and money left on the table due to pricing that misses the profitable structure
Slow cycle time and many internal handoffs resulting in low win rates
Price realization varies widely across the sales team
Inconsistent deal profitability due to rebates, terms & freight
What does a pricing manager need:
Reduce friction and accelerate quoting and negotiation workflows
Empower sales to quote confidently and negotiate effectively
Capture cost to serve and off-invoice incentives during quoting
Easily identify segments and set optimized value-based pricing
How do we solve it in Pricefx:
Accurately and efficiently configure your products, solutions, and services - reduce errors
Provide sales with guidance on the optimal pricing powered by AI-based price optimization
Embed analytics to give sales confidence in price and see contribution margin impacts
Increase deal sizes with data-driven recommendations
Benchmark current quotes using historical data
Reduce errors and deal cycle times
Automated workflow approval processes
Customize predefined quote output templates, including contractual documentation and e-signature handling
Integrate with leading CRM systems to reduce change management for sales
Use and approve quotes on mobile devices
LEARN MORE: To learn more about Pricefx Quotes, check our video tutorials and how-tos
Agreements & Promotions
A typical challenge for business: structured discount management
Difficulties setting promotions at any customer/product levels
Customers receiving incentives without meeting commitments
Contractual/promotional discounts impact not understood by sales and/or lack of pricing team awareness of discounts
Valuable resources wasted while processing contractual/promotional discounts
What does a pricing manager need:
Capability to accurately manage incentive performance
Enable sales and pricing teams to easily see the impact of pending and active contractual/promotional discounts
Reduce the workforce required to handle contractual/promotional discounts.
How do we solve it in Pricefx:
Manage discounts by a different customer, Product, or regional levels
Set and roll out price promotions and campaigns
Setup customer-specific contracts and execute on them
Calculate and set up all kinds of special price conditions (volume discount, pay-in-advance discount, etc.)
Analyze discount and margin-leakage impacts on business KPIs
Automated workflow approvals
Provide quotes to customers in electronic format with DocuSign
Leverage bidirectional data flows with your ERP and CRM systems
Correlate POS/Claims with trade promotions
Use and approve on mobile devices
Rebates
A typical challenge for business: structured rebates management
Customers receiving incentives without meeting commitments
Complex calculation and low transparency of the resulting net net pricing
Rebate impact not understood by sales and/or lack of pricing team awareness of rebates
Valuable resources wasted while processing rebates
What does a pricing manager need:
Capability to accurately manage incentive performance
At one place, calculate the net net price/margin, which reflects related rebate schemas
Enable sales and pricing teams to see the impact of pending and active rebates easily
Reduce the workforce required to manage rebates
How do we solve it in Pricefx:
Set rebates at any customer or product level
Manage and optimize trade promotions
Create, track and manage any rebate type
Embed analytics to predict performance
Optimize rebate spend
Automated workflow approvals
Provide rebate documents to customers in electronic format and with DocuSign
Integrate with leading CRM systems to reduce change management for sales
Push accruals and credits to ERP
Correlated POS/Claims with trade promotions
Use and approve on mobile devices
Channel Management
A typical challenge for business: how to manage ship and debit claims
Inaccurate, manual, off-line claims validation, prolonged unresolved claims period
Lack of supporting detail for disputes (proof of sale or invoice)
Inability to forecast and evaluate the success of related programs
What does a pricing manager need:
The systematic, timely, accurate program claims validation
Forecast accruals on orders or invoices and calculate payouts. Visibility into program eligibility, validity, exceptions.
How do we solve it in Pricefx:
Automated handling of ship & debit claims by your distributors
Integration with your ERP to issue a credit memo and execute pay-outs
Validation of claims to existing agreements (e.g., rebates) or quotes
Definable approval workflow rules with steps, conditions , and approvers
Optimization
A typical challenge for business: how to implement price optimization
Most of the optimization approaches are a black box for the pricing manager
Limited control over how the prices are being optimized and how the results are verified
No straightway of implementing optimization results into the quotes and price management
What does a pricing manager need:
Clear, accurate, and intelligent deal guidance based on data showing similar customers buying similar products (reflecting a willingness to pay) that improve deal win rates and drive revenue and margin
Flexibility to make necessary overrides or decisions where appropriate
Optimization of list price in parallel with other elements of price waterfall (various discounts) for the various customer(s) / product(s) unique segments
Following multiple business objectives and their priorities
How do we solve it in Pricefx with AI-based Segmentation and Price Optimization:
Automated price optimization based on defined business goals and relevant user-defined constraints
Simultaneously optimize all pricing elements (list price, discounts, etc.)
Account for elasticity in predictions where applicable
Predict impact on revenue, volume, margin
Perform breakeven analysis
Flexibility to change models as needed, add priorities, rules, constraints
Override and constraint models to confirm to rules like margin floor, % increase caps, competitive positioning
Use transaction and rule-based customer segmentation and product categorization
Output optimized pricing guidance into CPQ, price lists, ERP, commerce platforms
To learn more about Pricefx Optimization, check our video tutorials and how-tos.
Market Simulation
A typical challenge for business: : how to continue price optimization journey
Standard price optimization is based on elasticity derived from historical sales transactions.
Optimizes all prices and discounts (overall price waterfall) while reflecting several objectives related to various variables (revenue, margin, volume, …) at the same time without considering individual products
Unknown market prices in B2B
What does a pricing manager need:
Reach the best own response to competitive moves
Optimize product assortments and inventory risk
Get more from seasonal and markdown prices
Make more successful new product launch
How do we solve it in Pricefx with Market Simulation:
Simulates real behavior of customers and competitors
Simulates impact of price change of a product to the surrounding products within own portfolio through cross-price elasticity = reflects the cannibalization.
Simulates market response to price changes and its business impacts
Supports simultaneous optimization on multiple objectives within the market simulation scenarios
Market response simulated through various WHAT IF scenarios
PlatformManager
What is it:
“Platform” refers to the “inner workings” and administrative functionality underlying the Pricefx Product. It enables Pricefx, and its customers to set up and manage partitions, pull in data from Pricefx and other systems, deploy Pricefx connectors and accelerators, and integrate the Product with third-party systems (e.g., CRM).
What does it include:
Detailed view of the connected partitions (Pricefx instances)
Data Integration - files upload, FTP, SAP, Salesforce, etc., data mapping and basic transformations
Monitoring of integration health/status, statistics on messages/records
Marketplace with accelerators and integration templates
Account management of company accounts (user groups, asset groups, business roles)
View of the log files on system events based on a defined period
Notifications for system problems or other events significant to a company
Upgrade scheduling date and time to a newer release
PlatformManager Marketplace:
Integration Templates - allow you to efficiently set up the IntegrationManager tool to perform specific actions related to third-party systems
Accelerators - pre-configured solutions which implement frequently used functions that are typically related to dashboard visualizations and analytics
Packages - pre-configured solutions designed to solve specific pricing issues. You can quickly set up a partition to a required state and allow for interaction with users (enter inputs, upload data)
Standard KPIs - Pricefx Plasma
What is it:
Big data insights machine
Value it provides for a pricing manager:
Combines a massive amount of anonymized and aggregated transaction and quoting
data into 20+ pricing performance benchmarks, delivered in intuitive visual outputs
Provides access to reliable quantitative benchmarks to measure and compare company performance objectively
Identifies market trends to improve decision-making on future strategy, ambition, and direction of growth
Lays the foundation for a data-driven assessment of developing opportunities and target setting
Deal Planning
A typical challenge for business: how can a company manage big and long deals in an efficient manner
Absence of a single source of internal and external information and data related to every deal
No clear view into the Deal drivers and objectives
Solid information for supporting all deals with clear track records
How do we solve it in Pricefx:
Understanding the deal objectives and drivers on customer’s side inputs and understanding internal goals and bottom-line
Both combined into a well-defined negotiation strategy reflected in all negotiation rounds
Facilitation of all related internal processes - formulation of responses, internal alignments, and approvals
Keeping the history for effective learning and future deals
All relevant information and data at one place: inquiry details, timelines, objectives, drivers, team members, history
Capturing objectives and drivers in a structured way with a side-by-side comparison of objectives and drivers of both sides to uncover options for possible compromises
Full tracking of deal preparation and negotiation with recordings of all internal communication, alignments, tasks, and negotiation rounds.
