Choose the Right Pricing Software and Start Seeing Results Fast.
Shifting market demands. Negotiation dynamics. Decreasing margins. You know you need a pricing software that’s fast to implement, flexible to meet demands and fits your industry. But how do you choose the right partner? And when can you expect to see a return?
The benefits from switching to a pricing software can range from 1% to 3% of gross margin dollar improvement.
At its core, pricing software helps you determine the optimal price for your goods and services. A good pricing software factors in historical data, market conditions, promotions, product availability and competitors to arrive at an optimal price recommendation, fast.
Pricing Software Unlocks Potential within your Business
Reduction in Cycle Times and Price Setting
Increase in Deal Sizes
Increase in Win Rates
Learn more about our industry-leading pricing software
Top 7 Questions to Ask When Selecting A Pricing Software Partner
It’s easy to find a pricing software provider. It’s harder to determine if they’re the right fit for your business. Here are the top questions to ask before deciding.
What are the capabilities of the software?
Pricefx pricing solutions provide you with a single source for all your pricing data, they automate tedious data mining, allow you to test different pricing strategies, allow you to respond to market fluctuations in real-time and much more.
Does it integrate easily into our systems?
Pricefx enables real-time pricing based on real-time data by integrating seamlessly into your current technology stack as well as legacy systems.
What kind of return on investment can we expect?
Pricefx’s cloud-based platform ensures one of the fastest time-to-value ratios. Typically, the ROI on a pricing software is between 1-3% in gross margin improvement.
How quickly can we be up and running?
Pricefx delivers a full suite of standard pricing analytics, management and CPQ tools in just 6 weeks!
Can it manage high-SKU and high-volume operations?
A high-SKU or high-volume operation is nearly impossible to manage without a pricing software. Pricefx allows you to price a lot of products and services in real time, accurately and efficiently.
Does the company have experience in our industry?
A clear understanding of the unique demands driving your industry is a must. Pricefx has pricing experts in: Food and Beverage, Discrete Manufacturing, Process and Chemicals Manufacturing, Distribution and Wholesale, Building & Construction and Ecommerce & Retail.
What do their customers say?
In G2 customer reports, we continue to rank in a leadership position. See how we ranked against our competitors and hear from some of our customers. Learn more >
Best Practices to Unlock the Full Potential of Your Pricing Solution
Automating tedious data mining, aligning internal departments and achieving a 1-3% gross margin improvement are some of the benefits of pricing software. However, the extent of these depends on how carefully you select, adopt and use the platform.
Get senior leaders aligned
Lack of pricing strategy alignment can result in limiting the tool’s usefulness. Also, changing directions during or after a rollout can limit potential.
Vet your data inputs.
Typically, the more accurate your data, the better your results. If cost information is incorrect or lacks sufficient historical data, recommendations will be impacted.
Set clear standards and guardrails.
Ensure your whole team is trained on revised pricing processes. Set clear boundaries for when analysts can make their own decision versus when they require approval. This gives them the right level of flexibility and accountability.
Choose products carefully.
Not all products are equal. Sometimes items with low turnover, for example, don't have enough historical data for the software to accurately recommend a price.
Decisions around loyalty programs and discounting must also be made with your pricing strategy in mind. Pricefx’s pricing software can ensure these remain aligned.
Pricing Software Makes Good Business Sense
Learn more about our industry-leading pricing software.