Nice, you have your SAP Enterprise Resource Planning (ERP) softwarerunning sweetly – congrats! Your pricing strategy has led you to unearth new business opportunities and you have scaled up efficiencies and expanded your company into other regions and across different customer segments. Then suddenly – Bam! – due to pandemics, regional conflicts and associated rising costs and inflation your business requirements took a sudden, dramatic, and unexpected turn.
As a result, you need to automate your newly introduced rebates and promotions set-up, and to have your finance system and SAP ECC or S/4 HANA fully integrated into your insightful pricing analytics, optimization, management and price-setting software.
First up, congratulations on your business success, but take note and read between the lines. The time has suddenly and urgently arrived without warning for your business to implement SAP integration with a pricing software solution.
At Pricefx, we have been a leading cloud-native pricing software provider for more than a decade now, and our systems can connect directly with your SAP ERP, CRM (Customer Relationship Management), and CX solutions, but let’s make this clear from the get-go.
Rather than giving you the hard-sell on purchasing a new pricing software solution, this article is intended to arm you with all the information you need to know about how working with Pricefx can help you leverage your existing data you currently have resting inside your SAP system and using it to minimize your pain points, make profitable and insightful pricing decisions faster, easier and with less hassle.
Naturally, there will be some processes to go through to optimize your system, and in this article, we discuss the top 4 ways how integrating your SAP Platform with Pricefx pricing software can lead to a range of better business outcomes for your organization.
The Top 4 Ways the Pricefx – SAP Partnership Helps You Get More from Your Pricing Software
Doing an in-depth analysis of the way that the Pricefx – SAP Partnership helps our clients, we have identified 4 important ways it can assist your organization in achieving your unique set of business objectives;
Native Cloud Integration
Pricefx offers an SAP® Endorsed App – Premium Certified
Customer First Focus Culture Fit
Identify Inflationary Pressures Quickly & Turn Them to Your Advantage
Let’s dive in and examine these 4 ways the SAP – Pricefx relationship can fast track your pricing and its ultimate successes.
1. Native Cloud Integration
Straight out of the box (before we even look at the seamless SAP – Pricefx integration), customers can be safe in the knowledge that Pricefx is a cloud-native pricing software solution.
Born in the cloud, the Pricefx platform integrates with many SAP offerings as more than 50% of Pricefx customers run on SAP (including the SAP ERP applications like ECC and SAP S/4HANA®, and the SAP Customer Experience portfolio) using standard, prebuilt connectors. Our SAP endorsed app, Optimized Dynamic Pricing, integrates natively with SAP Commerce Cloud and has been tested and proven by SAP.
What that means for you is that by leveraging Pricefx’s cloud-first approach in combination with your SAP S/4HANA® ERP is a great start to gaining fast-tracked business efficiencies and reduce pricing complexities (immeasurably quicker because it is in the cloud), simplify business processes to better complement your S/4 experience and facilitate the quickest time to value.
2. Pricefx offers an SAP® Endorsed App – Premium Certified
Working within the secure barriers of the SAP – Pricefx business relationship, your organization can feel safe in the knowledge that you are incorporating an SAP-friendly solution into your pricing set-up with seamless integration. To be frank, it is not so much an integration as it is a de facto native SAP platform. Yes, it is great that it is cloud-to-cloud, but there is a deeper level of technological symbiosis to it than that.
Without tooting our own horn too strongly, as Pricefx is an SAP® Endorsed App Premium Certified, a certain integration standard level applies that no other price management and optimization software solution can boast. The Premium Certification leverages the SAP business transformational platform standard.
In other words, no other price optimization and management software can offer the same level of technological collaboration with SAP as the Pricefx solution does.
What that means for you as a customer is through the exclusive premium certified and seamless integration, the Pricefx cloud-native infrastructure fits neatly with SAP’s vision of moving entirely to the cloud. As an additional win-win it also allows joint SAP – Pricefx customers a faster time to value and go to market and getting the software live and working for your business objectives ASAP. Eliminating that time factor, financial risk is minimized, making you money. In turn, the investment in technology to come can make you even more profit through efficient pricing in the future, as SAP turns entirely to the cloud soon with SAP S/4HANA® and their CX cloud portfolio of solutions.
Pricefx customers can rest well knowing that SAP is investing in our technology to make certain it performs better in combination with their platform than any other price optimization and management software currently on the market today.
3. Customer First Focus Culture Fit
The SAP – Pricefx partnership that resulted in the Pricefx SAP® Endorsed App – Premium Certified originally came about in response to and creating answers to customer problems. What that means is that the entire collaborative system has been created in a ‘customer-first’ environment rather than from a business or revenue perspective.
With Pricefx boasting a customer retention rate in excess of 95% and SAP also in the extremely high customer retention range, clearly the two companies are aligned in providing customer-first solutions. In turn, customers can be confident in the knowledge they are purchasing a product that has been designed for their native-cloud needs.
4. Identify Inflationary Pressures Quickly & Turn Them to Your Advantage
Due to the SAP – Pricefx seamless integration, customers are provided with the ability to run their business proactively and aggressively. Fast insights provide opportunities to react to inflation, supply chain breakdowns and other uncertain changes that occur in real time. Depending on their types of business, organizations using the SAP – Pricefx solution can adjust their pricing at speeds never considered possible before.
Operating pricing changes in real time is not something that legacy or on-premises pricing solutions have ever allowed for, so the SAP – Pricefx relationship is providing a landmark reaction speed. That is of immense value to B2B companies – that were once-upon-a-time making price changes once a month or once a quarter, or sometimes even once a year – they are now able to shift prices multiple times a day if/when required.
Now You Know About How the Pricefx –SAP Relationship Helps Our Customers – What’s Next?
If your organization is looking for pricing software but lacks some of the required expertise in strategy development and integration, then take the opportunity here to learn more about the Advantage Pricefx Partner Network, SAP, and some of the other pricing software partners available for your company to work with to increase your pricing efficiency and profitability.
On the flip side, if you already have all the pieces of the pricing software infrastructure puzzle in place and you are looking forward to remaining one step ahead of your competition, then check out the article below that takes you through choosing the right pricing software for your company’s unique needs;
Joe Golemba has over 25 years in the consulting and technology space. He manages Pricefx’s global strategic partnerships including SAP, AWS, and more while curating the industry’s leading pricing partner program, Advantage Pricefx. In addition to his global ecosystem development experience, Joe has also held executive Product Management and Executive Consulting Practice leadership positions. Prior to joining Pricefx, Joe held various leadership positions at inRiver, Model N, Oracle, Stellent (Acquired by Oracle), IBM & PricewaterhouseCoopers (Acquired by IBM).