Pricefx User Terminology
Most Common User Terms
Partition - one instance of the Pricefx software. It is accessible through the internet browser and has a distinct link and partition name. Only authorized users can log in to the particular partition.
Home - a starting page of Pricefx that displays all software functional areas. It can be customized according to user preferences.
Master Data is a term used to define key data tables essential for software functionality.
Product Master - a table that includes product data with various attributes.
Product Extensions - a type of data table containing additional product information, such as costs, competition data, etc.
Customer - a table that includes customers data with a variety of attributes. Mostly used in B2B.
Customer Extensions - a type of data table containing additional customer information, such as sold-to, hierarchy, etc.
Transaction data - records of the product sales used in Analytics and for price calculations. Transactions are stored in Data Manager in Analytics.
Calculation logic - a common term in Pricefx that defines a particular combination of Groovy code that defines how prices are being calculated.
Price Parameters - tables that include different pricing data that affect price calculation in logic, workflows setup, etc.
Excel Client - a tool based on Excel macros that allow to modify and upload the data to a particular partition.
Configuration Wizard is an area to modify different pricing setups in a simple, step-by-step way without programming knowledge.
Workflows - a process that enables approval of the documents and can be set up for different Pricefx functional areas.
Access Admin - an area where user management is taking place.
User Roles - provides access for users to particular software functionality.
User Groups - a tool to provide access for users to data.
Business Roles - a tool to combine user roles and user groups for a certain level of access to the software.
PlatformManager - user interface for managing simple data uploads, choosing and deploying integration templates, and scheduling product updates.
IntegrationManager is a back-end interface that manages data transformation and uploading into the Pricefx data tables.
Pricefx Standard Abbreviation
Check the abbreviations that our teams use very often.
Analytics
Analytics - one of the Pricefx functional areas where users can visualize pricing data.
Dashboards - graphical user interface that provides at-a-glance views of key performance indicators relevant to a particular objective or business process.
Charts - standard pricing charts available by default in Analytics within Data Analyzer.
Rollups - a type of data analysis table that allows a higher level of aggregation and displays it on different charts.
Datamart is a type of data table that includes multiple data sources and is used for analytics.
Data Source - a type of data table that includes cleansed and structured data used to build data marts.
Price Setting
Price Setting - one of the Pricefx functional areas where users can execute price list management activities.
Price Lists - an area in Price Setting that allows the creation of multiple tables with products and calculated prices based on calculation logic.
Live Price Grids - a type of price list with products and calculated by logic prices which should be recalculated several times per day depending on new data (e.g., competition) updates.
Simulations - an area in Price Setting where users can analyze the impact of some price parameters change on the final price in Price Lists and Live Price Grids.
PL and LPG types - an area in Price Setting where the available types of Price lists (PL) and Live Price Grids (LPG) are stored. Usually, those types are programmed by the concrete calculation logic and used when new PL or LPG are created.
Quoting
Quotes - one of the Pricefx functional areas where users can execute Configure, Price, Quote activities.
Quote Types - an area in Quotes where the pre-programmed types of quote calculation are displayed. The types are used to create quotes with pre-defined parameters.
Mass Update - a function that allows updating the similar value, for example, cost, in many or all existing quotes. A feature that is useful during quotes revisions and common price parameters updates.
Price Records - a table that includes the records for all converted into deal quotes. One row in the record table refers to each line item in the quote. This is also the format in which Pricefx exports quotes to other systems.
Quote Header - an overview of the complete quote calculation. One quote can have only one header.
Quote Line item - a product item added to the quote with a defined quantity. One quote can have multiple line items.
Approval Workflow - a process of approving the quotes when the content of the quote does not fit into the defined thresholds (e.g., minimum margin). Approval workflows should be programmed in the calculation logic. There could be multiple approval workflows connected to different user groups in the Pricefx software.
Agreements & Promotions
Contract Term Types - an area where the pre-programmed types of contract calculation are displayed. The term types are used to create contracts with pre-defined parameters.
Contracts - one of the Pricefx functional areas where users can create and manage contracts.
Mass Update - a function that allows updating the similar value, for example, standard discount, in many or all existing contracts. A feature that is useful during contract revisions and discount rules updates.
Price Records - a table that includes the records for all approved contracts. One row in the record table refers to each line item in the contract. This is also the format in which Pricefx exports contracts to other systems.
Contract Header - an overview of the complete contract. One contract can have only one header.
Contract Line item - a contract item that defines a particular type of discount, agreement, campaign. One contract can have multiple line items.
Rebates
Rebate Agreements - one of the Pricefx functional areas where users can create and manage rebates.
Rebate Types - an area where the pre-programmed types of rebates calculation are displayed. The types are used to create rebates with pre-defined parameters.
Rebate Agreement Templates - a function allowing you to mass create many agreements at the same time, for example, do a mass upload of rebates from other systems.
Rebate Records - a table that includes the records for all approved rebates. One row in the record table refers to each line item in the rebate. This is also the format in which Pricefx exports rebates to other systems.
Rebate Header - an overview of the complete rebate. One rebate can have only one header.
Rebate Line item - a rebate item that defines a particular type of condition that should be fulfilled by another party, e.g., if you sell 10000 units, you get 3% back. One rebate can have multiple line items.
Rebates Calculations - the area where rebates recalculation on a base of the new data from the receiver of the rebate is set up. This is needed to analyze the payout probability of the rebate.
Payout Records - the table that contains the records of the approved rebates to be paid out to the rebate receiver.
Channel Management
Claims Types - an area where the pre-programmed types of claims calculation are displayed. The types are used to create claims with pre-defined parameters.
Ship and Debit Claims - one of the Pricefx functional areas where users can create and manage ship and debit claims.
Claim Records - the table containing the approved claims' records to be processed and paid out.
Optimization
Models Types - an area where the pre-programmed types of optimization approach are displayed. The types are used to create an optimization model based on the defined data and optimization target.
Models - one of the Pricefx functional areas where users can create, run and maintain optimization models.
Optimization Engine - an area where users can define and run AI-modeled optimization.
Policy records - a table with the optimization records that have been approved to be used in other functional areas, e.g., quotes, price setting, analytics, rebates.
Typical Pricing Slang
Product Costs - the cost of production (types: standard, fixed, variable, avoidable, internal transportation, internal storage)
Quantity/Volume – the amount of product sold
Margin – the product's price - cost; margin is usually the key profitability indicator.
Target Margin – the amount of profit expected to receive from a product sold
Purchase price – acquisition costs of the product that is produced somewhere else
Price indexes – price variation that is market and material related (example: oil, grains)
Competition price – the price of a competitor with a similar product
Packaging price – the price of packaging which is counted as an extra cost
Stock - inventory of the product
SKU - stock-keeping unit
Transportation costs (freight costs) – the costs to move products
Floor price - lowest price calculated on the base of profitability
Price ceiling - the highest price for selling a product
Distributor price – wholesale price in B2B businesses (example: manufacturer sells tyers to distributor)
Bottom-up pricing - method in which all the costs are calculated first, and the desired profit is added to the total cost to calculate the price
Top-down pricing - method in which the price is calculated based on the perceived value of the product by the customer and then pushed down
Global pricing – global price setting that is applicable for all business units
Local pricing – regional price setting that comes on top of the global pricing
Product Life Cycle – product life stages reflected mostly in sales: introduction, growth, maturity, decline
Pocket margin – final margin (profit before taxes)
Margin Leakage – areas where the company loses money
If some of the Terminology is missing from your point of view, please leave us the comment with suggestions below.