In this section you will learn about pricing maturity, what it is and how we use it in Pricefx.

What Is Pricing Maturity

The Pricefx Pricing Maturity Map helps companies assess their overall pricing maturity level, identify opportunities for improvement, and create a roadmap to effective pricing (including - but not only - software).

Pricing Map has five levels of maturity:

An overall pricing maturity score is calculated. In addition, scores are recorded for each pricing activity and pricing capability.

Accessing Pricing Maturity: activities & capabilities

Reports are supplied and reviewed by your Customer Success Manager (CSM) annually with you to assess current scores, maturity goals, and gap areas. Summary scores can also be averaged across your entire team, by region, business unit, etc.

Example Output

As a result, the customer gets a maturity summary with strengths, weaknesses & gaps

Insights:

What strengths do we have? Can we leverage them more?
How can we address or mitigate our weaknesses?
How can PriceFX help? What risks should they be aware of?
Where is more information needed?

Why Use the Pricefx Maturity Map?

The Pricefx Maturity Map is a valuable tool for evaluating pricing strengths and weaknesses, providing recommendations and tips for improving pricing processes and results, defining the pricing improvement roadmap, and mitigating pricing initiatives by identifying risks and variations upfront. It serves as a means to capture more value from Pricefx software faster, making it an essential resource for companies looking to optimize their pricing strategies and achieve better outcomes.

The Process for Setting Up a Price Maturity Map

Complete an online survey (multiple participants are recommended). The average time investment is of ~45min. The evaluation results will be sent in Excel format within 1-2 business days. (Summary results can be sent to show the average for the complete set of participants or by region, business unit, etc.) Your Pricefx Customer Success Manager (CSM) will schedule a feedback session to review the feedback and plan any necessary next steps.

Pricefx and your CSM will repeat this process annually to review your progress since becoming a Pricefx customer.

If you are interested in exploring the Pricefx Maturity Map, reach out to your Customer Success Manager.