The Price Setting Accelerator generates global and local list prices, integrates adjustments and on-invoice discounts, and automates recalculation for static/dynamic price lists.

It is designed to address a frequent issue in many businesses: the processes for the creation and generation of price lists are too cumbersome and inefficient and they slow down reactions to pricing opportunities in the market. Also, the pricing strategies utilized are inflexible to market changes and the approval process for price changes is too time-consuming.

That is why Price Setting Package provides a framework that focuses on accuracy, consistency, efficiency, dependability, and responsiveness to provide a single source of truth for product pricing.

You can also watch a video introducing Price Setting and its usage.

Pricefx Key Accelerators

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This accelerator provides aggregation at the following points in the waterfall:

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Trade Level Scenarios

Price Setting allows you to define if prices are calculated as List Prices or Gross List Prices. Moreover, it can calculate Net Prices after discounts are applied.

It is worth mentioning that in B2C environments, prices are usually set as List Prices. In B2B ones, Net Prices are more commonly discounted List Prices. You can calculate all these trade levels with the Price Setting accelerator.

Price Levels

You can define several price levels and dependencies between them.

• Independent level – Prices on this level are not derived from other levels. You can think about it as "top" pricing level.

• Dependent level – Prices of this level are derived from another parent level. You can think about them as "lower" levels of the dependency hierarchy.

• Complex pricing level structure – You can build a complex structure. You can define several Parent Price Lists calculating prices independently. You can arrange various Dependent Price Lists around them. You can also create a multi-level tree where a Parent Price List depends on another Parent Price List. With this you can have for example multiple Parent Price Lists for different regions (EMEA, AMER, APAC). Dependent on them you can have Price Lists for the different countries, and dependent on them different channels, shops etc.

• Standalone Price List – Covers price setting for just one price list.

Dynamic Pricing

Price are updated automatically based on an underlying product or competitor changes.

Pricing Strategies

You can select out-of-the-box pricing strategies such as calculations based on anchor, competition, BoM data or attribute-based pricing.

You can also configure the strategies to your needs by using the additional setup options i.e. you can define their hierarchy, on which level they are valid, whether they can be overridden, how they work with exceptions. 

Product Segmentation

In Price Setting you can set up dimensions of your product master data that are used to diversify your pricing strategy. The resulting product segmentation helps you define all your pricing decisions on every level of granularity. The dimensions are looked up hierarchically, so that you can define some high-level pricing strategy and specify special product segments on a more granular level where needed.

Approval Workflow

Done through the Approval Workflow Package.