Core Business Capabilities

Business Capabilities

These are essential for driving the commercial aspects of the product, such as planning (analytics and plasma), pricing (setting prices and managing agreements), and profit management (quoting, rebates, sales compensation, deal planning, and channel management).

The primary components of the business capabilities are:

Analytics

The analytics capability in the Pricefx application enables users to collect, analyze, and present data in different formats to support decision-making and insights generation. It offers visibility into prices and margins, aids in defining and executing pricing strategies, and facilitates the analysis of actual and simulated pricing methods. The feature includes tools for data visualization, customization, and analysis through charts and tables.

Users also have the option to export charts and data for additional analysis or report creation. In essence, Pricefx's Analytics capability empowers users to make informed pricing decisions by providing valuable insights into their pricing data.

Price Setting

The Price Setting capability in Pricefx empowers users to create and manage a variety of price lists, such as standard price lists, live price grids, manual price lists, and calculation grids. It offers pricing strategies, automated price recalculation based on specified rules and parameters, and dynamic pricing support for static, calculated, or manually set price lists.

This feature enables pricing analysts to efficiently organize prices, conduct product price, quote, and deal simulations, implement live price grids for real-time price updates, and establish algorithms for static price list calculations considering factors like cost, market conditions, competition, product attributes, value perception, and more. It assists pricing analysts in collecting precise pricing data, identifying key pricing parameters, and delivering recommendations and pricing guidance tailored to meet business requirements.

Quoting

The Quoting capability in Pricefx supports sales teams in generating and managing proposals, quotes, and customer negotiations. Users can establish pricing logic based on factors like costs, competition, and market conditions. The feature includes workflows that enable sales teams to swiftly and accurately create proposals while adhering to corporate pricing policies and accessing essential data such as costs, margins, rebates, and off-invoice incentives.

After the quotes are generated, they undergo review and approval, leading to the creation of price records that can be seamlessly integrated with other Pricefx functionalities. These records can also be exported to integrated CRM and ERP systems like SAP, Microsoft Dynamics, Salesforce, and various others for further utilization.

Optimization

The Optimization feature in Pricefx empowers users to refine pricing strategies through the analysis of pricing data, market trends, and customer behavior. By harnessing advanced algorithms and analytics, users can determine optimal prices that enhance profitability while considering customer demand.

Through the implementation of dynamic pricing strategies informed by real-time data, competitor pricing, and market dynamics, businesses can dynamically adjust prices to optimize revenue generation. The optimization functionality further supports price elasticity analysis, simulation of pricing strategies, and integration with AI and machine learning technologies to offer predictive pricing recommendations and automate pricing decisions based on historical data and market insights.

Plasma

Plasma, a pricing analytics solution created by Pricefx, supports pricing managers in analyzing and benchmarking their pricing strategies against industry standards. It utilizes anonymized and aggregated transaction and quoting data from multiple companies for comprehensive insights.

Plasma offers more than 20 pricing performance benchmarks, presented in user-friendly visual formats, facilitating impartial comparison and evaluation of company performance. The Plasma dashboards feature Key Performance Indicators (KPIs) categorized into Executive Summary, Plan, Price, and Profit sections, offering valuable insights into pricing business structure, processes and execution, strategy, and deal performance. In essence, Plasma is tailored to address pivotal pricing analytical inquiries, delivering significant value to pricing managers.

Sales Compensation

Sales Compensation is a structured framework that outlines the commission, bonus, and incentive framework for sales representatives. It fosters positive behaviors within sales teams to drive the accomplishment of overall organizational objectives. This system involves the establishment of a Sales Compensation Plan, detailing the base salary of sales agents and defining the company's commission and incentive structure.

Through commission and incentive structures, sales teams are motivated to achieve targets and earn rewards like commissions, bonuses, and additional incentives based on various performance metrics such as sales volumes, product categories, customer segments, and more. Typically, Sales Compensation plans undergo annual reviews with adjustments made in alignment with the organization's goals and strategies.

The primary goal of this capability is to synchronize sales agents' incentives with company objectives, facilitating growth, increased sales revenue, and cost management. It can also play a crucial role in an organization's comprehensive compensation strategy, encompassing salaries, bonuses, and other incentive programs for roles beyond sales.

Rebates

Pricefx's Rebate Management feature is specifically crafted to assist sales, finance, and pricing professionals in efficiently managing and optimizing rebate programs with customers, suppliers, and partners. It empowers users to establish, execute, and uphold intricate rebate agreements, including payouts and accruals, offering a diverse selection of predefined or customized rebate programs to suit various business requirements.

With Rebate Management, users can outline adaptable rebate structures, automate rebate calculations based on preset rules and conditions, and minimize manual errors to ensure precise and punctual rebate payments. Real-time tracking of rebate performance enables users to assess program effectiveness, analyze outcomes, and make informed decisions based on data.

Integrated with other Pricefx functions like Quotes, Sales Orders, and Contracts, Pricefx's Rebate Management capability delivers a holistic solution for rebate management. Additionally, it offers reporting, data extraction, and configuration features to enhance overall functionality and usability.

Agreements & Promotions

The Agreements and Promotions feature in Pricefx empowers businesses to oversee discounts and promotions for customers across various levels, including product, customer, or location. This functionality facilitates the creation, maintenance, and tracking of promotions and discounts, along with the calculation of net prices based on the structures of agreements and promotions.

Key components of the Agreements and Promotions capability include Agreement Types, Condition Types, Agreements, Price Records, and Discount Campaigns.

This capability is designed to streamline the management of various promotions and discounts, facilitates net price calculations, and provides adaptability in assigning discounts across different levels for customer groups and frameworks.

Channel Management

The Channel Management capability within Pricefx is dedicated to overseeing and enhancing the channels through which products are distributed. This module presents a comprehensive solution for managing ship and debit claims, streamlining the intricate processes involved in channel management.

Users can utilize the Channel Management module to define and oversee all aspects of channel management, ranging from establishing and upholding channel agreements to processing ship and debit claims. It offers functionalities like automated channel-specific pricing calculations, discount and rebate management, and monitoring inventory levels and channel-specific sales performance.

Additionally, the module incorporates advanced analytical tools that furnish users with profound insights into channel performance, empowering them to make well-informed decisions regarding channel strategy and optimization. By leveraging Pricefx Channel Management, businesses can refine their channel networks, reduce expenses, and enhance overall profitability.