Pricing Value Capture
- Andrew Donaldson
- Ioana Kocurova
- Kate Grusemann
In this section you will learn more about pricing value capture and what it means in your pricing journey.
What Is Pricing Value Capture
The value capture program helps Pricefx customers and partners measure and capture the operational or/and financial value the Pricefx software delivers.
The toolset for measuring the value consists of three analytical accelerators:
o Pricefx Plasma
o Pricefx Sales Insights
o Pricefx Customer Insights
o Additional KPIs can also be configured using Pricefx Price Analyzer charts
OUT-OF-THE-BOX KPIs AND MEASURES*
*Additional KPIs can be configured in Analytics
Matrix mapping the financial or operational business issue, with the metric for measurement, and then with the specific chart/dashboard
How Pricing Value Capture Works
The Pricefx Customer Success Manager will guide and collaborate with you throughout the process.
(1) Set business goals during the onboarding phase. Map the KPIs to the dashboards in Pricefx Plasma, Sales Insights, and Customer Insights that will be used post-go-live to track and quantify value and underlying business goals/objectives.
(2) Value Delivery. During the implementation and adoption phase(s), the Pricefx Customer Solutions or the Pricefx Implementation partner will set up the KPI dashboards with the customers' product, customer, and sales transaction data and help the customer validate the accuracy of the results.
(3) Measure and Improve. With collaboration and guidance from the Customer Success Manager, the customer will measure the operational or financial value regularly, typically quarterly, sometimes monthly.
CUSTOMER VALUE CAPTURE CYCLE
Success is managed over time using the following Pricefx tools:
Online Pricing Maturity Map – assess your pricing maturity across the organization. Customer's self-assessment pre+post PFX. Update at minimum yearly.
Set standard KPIs via Plasma, Sales insights, Customer Insights charts, and dashboards.
o Plasma generates out-of-the-box KPIs: for example, 20+metrics and benchmarks.
o Sales Insights allows creating revenue and margin, waterfall comparison, revenue, and margin breakdown.
o Customer insights provide actionable analytics for sales and pricing to prevent margin leakages.
Value Playbooks provide guidance on the “why” and “how" to use the KPIs to capture value. Playbooks map to the KPIs.
If you want to learn more about the Value Capture Map, please contact your Customer Success Manager.