Flexible
Pricing Strategies Need Pricing Vision
Key Takeaways: • If you fail to bring centralization to your operations, you are going to find yourself facing major disconnect across the various territories you serve, the multifarious ERP systems you depend on, and your SKUs. • This tendency to let regions handle their ways of pricing and selling means instead of pricing being a driver of profits, it is so inconsistent that those international teams fail to grasp the impact on your organization that their uninformed pricing variations cause. It is true to state that companies with any kind of retailing either have or crave a pricing strategy....
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Could Pre-Internet (non-cloud) Pricing Software be Costing You Millions?
Running pre-Internet pricing software is like watching money walk out the door. This is money you could be using to improve processes, hire more people, or buy new equipment. You have to ask yourself, “Why do I continue to ‘throw good money after bad’ by retaining my current software or by thinking of upgrading my present system when there is a better solution?” On-Premise Software Is Costing You By continuing to use on-premise pricing software, you are paying between $350,000 and $1 million for yearly maintenance contracts. Costs frequently run as high as $2 million when you add downtime and...
Flexible
Smart Pricing Means Innovation. Time to Flex Those Data Crunching Muscles!
Key Takeaways: • Setting prices and pressing the big green sell button is not enough, speed of reaction and awareness of the pocket-price waterfall means relying on a heck of a lot of data spread across many parts of your pricing infrastructure, whose quality you need to verify and whose logical flow you need to ensure through all your systems. • Taking a more data and process-centric approach to deals and offers is one of the key levers that helps companies be successful. “Crunch that data, grow globally and sell more with greater margins!” Sound like something currently achievable or...
Flexible
How Adjustable Pricing Boosted the Skiing Industry–It’s Snow Joke!
Key Takeaways: • Some pricing factors can be foreseen. Having a good grip of historical data can unveil cyclical factors that can often form a predictable path. But what can you do when you have one of those phenomena that even leaves the experts baffled? • Dynamic pricing was the answer to put to an end to the one-size-fits-all approach where companiesthey lose money here and there, and let customers slip through their fingers. Some pricing factors can be foreseen. Having a good grip of historical data can unveil cyclical factors that can often form a predictable path. But what...
Manage
3 Negotiation Strategies Pricing Experts Can Use to Let Someone Else Have Your Way
No matter what your role is or who you are, negotiation is polarizing – either you love it or you detest it; no one is lukewarm on this subject. Negotiation is the art of letting someone else have your way. Yes, you read that correctly. The whole point of negotiation is getting what you want while having the other person walk away thinking that they got what they wanted as well. No wonder most people fear attempting this “dance” of words. What makes it so challenging for the vast majority of us? Why do we often avoid “negotiation” and any...
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CPQ: How to Unlock the Full Value of Every Deal with Your Sales Force
Configure Price Quote (CPQ) That Drives Value to Your Whole Organization Pricefx just won the 16th Annual 2021 IT World Awards. These prestigious global awards recognize information technology and cyber security vendors with advanced, ground-breaking products, solutions, and services that are helping set the bar higher for others in all areas of technology and cyber security. Why Pricefx for CPQ? If you have been following, Pricefx for any reasonable amount of time, you might have noticed that we are constantly evolving – from our engineering updates to webinars we offer on our products. Our product roadmap is designed with our customers’...
Announcing Bramble 3.7 – Manage Your Distributor’s Claims with Ease
Are you looking forward to the summer season? Then join us in a toast to pricing with a refreshing summer drink – Bramble. Bramble is a mixture of gin, simple syrup, fresh lemon juice, creme de mure and crushed ice. Sound tasty? Then raise your glass to toast our new release – 3.7 Bramble – arriving on June 23, 2019. Here’s a first look at the release highlights. ChannelManager – This new module helps you handle special discount agreements between your distributors and their customers. The module processes an Excel file with transactional data you receive from your distributor, validates...
Pricefx Adds New Marketing Chief after Accomplishing the Most Successful Year in its History
Patrick Moorhead joins as Chief Marketing Officer from big data startup Label Insight to help the company continue its strong growth, following its doubling in size for three consecutive years. The appointment follows a hugely successful 2018 for Pricefx which included the completion of its second financing round with strategic investment from Digital+ Partners and Bain & Company. In 2018, Pricefx was awarded “Cool Vendor of Digital Commerce” by Gartner®, selected as pricing technology provider to Bain & Company’s “Pricing Navigator” offering and certified as an SAP® AppCenter partner. MUNICH / CHICAGO – February 12, 2019 Pricefx, the global leader...
Friendly
Surcharge Pricing, Avocados and Australia
Riddle: What do Mexican avocados, Australia, and an impending guacpocalypse have in common? The answer is…. Surcharges: I got an idea to write this post in Santa Barbara, California in November, where I saw a new surcharge applied at restaurants: There was an avocado surcharge as a result of a supply shortage due to a growers’ strike in Michoacán, Mexico: While I did write a note to the management team that $15 for a soggy Quesadilla with no avocado was NOT reasonable (true story), it was not enough for a blog post. The recent guacpocalypse caused by the fuel shortages...
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When Dynamic Pricing and Profit Meet
When Dynamic Pricing and Profit Meet Key Takeaways: You need to respond rapidly to changes in prices to make sure you stay competitive and profitable Using algorithmic optimization to set up pricing guidelines means you can test any modifications to pricing strategies before going live with them When it comes to defining and managing your pricing strategy, having the ability not only to calculate all product pricing types based on accurate simulations but to publish them quickly will determine the success of your pricing policy. Pricefx’s PriceBuilder allows you to do just that and more… PriceBuilder: Seamless Integration Your Way...
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RebateManager: Don’t Get Stuck in Rebate Management Hell
RebateManager: Don’t Get Stuck in Rebate Management Hell Key Takeaways: Handling hundreds of rebate management programs can be time intensive and if not done accurately, could cost your company Implementing a rebate management tool could take years and become extremely expensive because of changes in staff and strategy RebateManager is fast to implement and use so you don’t waste money or time Ask any rebate manager, and they’ll tell you that speed and accuracy are two of the most important factors that they need to do their job well. This becomes even more apparent when there are multiple kinds of...
Insight
PriceOptimizer: The Art of Not Leaving Money on the Table
Key Takeaways: Expansions in product, customer base, regions served and more make it difficult to serve the optimal prices PriceOptimizer can cluster by buying behavior so that pricing professionals can give the right price to the right segment PriceOptimizer uses machine learning to optimize prices across several segments Imagine you have a global sporting goods store that sells every sporting product that you could possibly dream of. Your store in England sells soccer gear including English team jerseys and other similar gear at the same price that you’d sell them in the US. However, the people in the England would...
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Use PriceAnalyzer to Get the Most Out of Your Pricing Data
Use PriceAnalyzer to Get the Most out of Your Pricing Data If you’re in the pricing industry, you’ve probably heard it mentioned multiple times over how a 1% increase in price yields an 8.7% increase in profits. Such an increase is definitely something that any company would leap at the opportunity to gain. However, the journey to get there is not straight forward. To get astronomical increases in profits, you first must convince the sales team to adopt a method of increasing prices, not a volume to reach their and the company’s goals. If you happen to make that hard...
Flexible
Pricefx’s Optimized Algorithmic Pricing, Now on SAP’s App Center
Pricefx’s Optimized Algorithmic Pricing What is Optimized Algorithmic. Optimized Algorithmic Pricing (OAP) by Pricefx is a solution built for SAP customers. It provides unique insight into how pricing impacts business profitability across products, customer segments, sales channels and geographic regions. Beyond the price waterfall, PriceAnalyzer provides real-time insights at scale. Built on the standard Pricefx platform, Pricefx OAP offers you complete control over the price setting processes with an easy-to- use and transparent calculation engine that can be tweaked on the fly by the business users. http:/www.pricefx.com/site/wp-content/uploads/2019/05/Optimized-Algorithmic-Pricing-by-Price-fx-on-SAPs-App-Center.mp4 How Can OAP Help You? Today’s complex digitally enabled business world demands...