Fast

Pricing Software: The On-premise vs. Cloud Battleground Explored 

August 22nd, 2019 (Updated 03/23/2021)

Duncan Hendy

The Cloud has been a somewhat disruptive force, showing year-on-year growth   since its introduction. 90% of companies are already in the Cloud with 89% of companies using software as a service (SaaS). And it is estimated that 94% of workloads in 2021 will be processed by Cloud data centers.  But WHY? Do the benefits of Cloud computing really translate into business success metrics and are they relevant for all organizations? Are they worth the hassle and price tag? What about the security risks?   These questions have been around for a while, so let’s take a closer look at the battlefield...

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Fast

11 Key Requirements for Price Optimization Solutions – Constellation ShortList

August 22nd, 2019 (Updated 03/23/2021)

Lukas Sirucek
Product Manager at Pricefx

For years now, we have been hearing about the need for digital transformation from leading consultant firms and specialist alike. Bain, for example, has found that companies wanting to undertake transformation should have four competencies in place: digital strategy, a business model, enablers, and orchestration. Enablers refer to the “current data [and] technology operating model” that will permit a smooth process. Chances are if you made your way to this page, you are also interested in finding the right pricing solution that you can use to harness the power of digital transformation. Pricefx was recently recognized by Constellation Research as...

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Realize

How ERP and Pricing Software Can Help Enterprises Like Yours

August 20th, 2019 (Updated 03/23/2021)

Duncan Hendy

All businesses desire maximum profits. This means employing a dynamic ERP (enterprise resource planning) to collect, manage, store, and interpret data in real–time and linking it with all major departments. It also means pricing services and goods at the proper level, which entails determining and implementing prices with the help of an accurate pricing engine. Past practices show companies using Excel spreadsheets to figure optimum prices and to notify the sales end of them. Although workable to some degree, spreadsheets are open to errors, corruption, and manipulation. Pricing software offers a powerful, safe, reliable alternative.  The Basics of ERP and...

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Fast

The Immense Value of a CPQ to Business Intelligence

August 19th, 2019 (Updated 03/23/2021)

Tolu Oke
Content Marketer at Pricefx

What Is a CPQ?  With a CPQ (configure, price and quote), you can provide smart, accurate and highly configured quotes to customers, transforming your sales organization and QTC (quote-to-cash) process. A CPQ removes errors and complexity from pricing by standardizing, systematizing, and automating pricing rules and conditions into one centralized platform. Sales reps can then access this information instantly, anywhere and at any time, when formulating a quote or doing a deal.   Business intelligence is a catch-all term for a wide variety of tools, applications and methodologies that deliver information to end-users who are not necessarily experts in operational research....

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Realize

It’s Time to Improve Your Off-Invoice Reconciliation Process with ChannelManager

August 16th, 2019 (Updated 03/23/2021)

Garth Hoff
Principal Pricing Solution Engineer at Pricefx

Optimize Your Ship and Debit Claims Process   There’s little doubt that ship & debit programs play a pivotal role in the successful sale of bulk consumer and industrial goods. This is especially due to the fact that the price adjustment agreements outlined between a manufacturer and its distributor/seller can help to offset changes in the market such as more competition or a change in demand.   When executed properly, this process is win/win for the distributor and company alike. Distributors earn significant portions of their margins from these offers while shifting unsold stock and making room for the company’s...

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Fast

Why TtV Should Be Your Top Determinative When Moving to the Cloud

August 15th, 2019 (Updated 03/23/2021)

Duncan Hendy

You can’t deny it any longer – your company needs an upgrade.   Your IT team spends hours tracking, maintaining, upgrading, and backing up your current system, and you’re spending precious resources on data storage that you could be using to deal with the increased traffic you’re currently unable to scale for.  You know it’s possible to improve IT processes, reduce operational costs, and keep infrastructure manageable while growing as a company… and you know that means moving to the Cloud.  Stress-free IT in The Cloud  Not only is it much faster to deploy, but there are no hardware or related...

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FYI

Accelerate is Coming to Chicago – Here’s What to Expect – 2019

August 12th, 2019 (Updated 03/24/2021)

Pricefx

Looking for a pricing leadership and customer event that is equal parts exciting, educational and inspirational? Well, look no further than Accelerate. After an amazing passion and adrenaline-filled event for the European pricing community, Accelerate – our premier event for pricing professionals is making its way back to Chicago. It’s an event not to be missed. Those who attend can expect excellent speakers and presentations from experts with decades of experience and have seen every pricing situation under the sun. Of course, an Accelerate event would not be complete without opportunities to mingle and enjoy the city where the event takes...

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Manage

The Business Intelligence That’s Essential for E-commerce

August 5th, 2019 (Updated 03/23/2021)

Tolu Oke
Content Marketer at Pricefx

What Is Business Intelligence?  The concept of business intelligence is nothing new. In fact, Howard Dresner (at the time, a Gartner research analyst, now Chief Research Officer at Dresner Advisory Services) coined the term way back in 1989. The technological landscape has changed massively since then, but business intelligence, which is a catch-all term for a wide variety of tools, applications and methodologies, still refers to the ways that we can deliver information to end-users without needing them to be experts in operational research.   By harnessing the power of business intelligence, you can turn big data into big opportunities for...

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Realize

The Four Models You Need For Change Management

August 1st, 2019 (Updated 03/23/2021)

Duncan Hendy

Change is a challenge within any business. It brings up a plethora of navigational issues whether they be from your team, from new systems lacking critical elements or strongly embedded processes that are hard to shift away from.   As a manager, it can be easier to avoid innovation and instead continue to use systems that are tried and tested, despite how out of date they may be.  But you needn’t be so quick to despair or to feel forced to choose the ‘safe’ option, there are methods which you can utilize in order to create a smooth transition process and...

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Manage

What Are the Phases of a Project’s Life Cycle?

July 25th, 2019 (Updated 03/23/2021)

Tolu Oke
Content Marketer at Pricefx

In the digital age, it is crucial that you are open to change, especially if it leads to your company having the competitive edge when it comes to pricing management.   But changing processes throughout a project life cycle can feel daunting, especially if you’ve worked the same way for twenty-odd years and feel comfortable with the flow you’ve become accustomed to.   The bottom line is, you shouldn’t need to make any changes at all unless there’s a tangible benefit to doing so. While some processes within your company can stand the test of time, others, such as your pricing...

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Manage

What Is Digital Transformation and How to Scope A Project with Confidence

July 24th, 2019 (Updated 03/23/2021)

Duncan Hendy

“Start small, think big…”, Steve Jobs once said, and nothing could be truer of digital transformation. Transforming a company born before the digital age, from one trapped in a past of legacy IT systems and manual processes to one that uses superior technology as its unfair advantage, can seem like an insurmountable task, and if your project scope is flawed, then chances are it will be impossible.   But small changes, enacted immediately, can have a big impact on your business, persuading senior management that having a digital transformation project plan, especially as regards to pricing, is not only a good...

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Realize

Resistance Is Useless: 7 Steps to Getting Digital Transformation Buy-In

July 23rd, 2019 (Updated 03/23/2021)

Tolu Oke
Content Marketer at Pricefx

Digital transformation is the ultimate change management challenge for any company. Every corner of a business is connected, from each individual task and activity to companywide processes and models. And it is this inter-dependency that makes digital transformation so essential. And so challenging. It’s a major upheaval. It disrupts current processes, forces teams to change the way they work, and costs a pretty penny too. It’s no wonder the company puts up such a fight. “I have to learn new software?” “But we’ve always done it this way.” “That’ll take ages!” “A robot can’t tell me how pricing works!” “The...

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Pricefx Grows in Another Record Breaking Quarter

July 23rd, 2019 (Updated 03/24/2021)

Pricefx

Patrick Adams, Chief Revenue Officer, at Pricefx has many reasons to smile. As the CRO and one of the many key players in the company’s growth, when he joined in 2016, Patrick has been able to lead the sales team from record-breaking quarter to record-breaking quarter. And Q2 of 2019 has been no exception when Pricefx closed strong and delivered 134% year-over-year growth.    When Patrick started at Pricefx he was pleasantly surprised to learn of the breadth of capabilities that Pricefx had in the platform even at that time – that it offered an enterprise-class pricing solution which captured...

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Friendly

Accelerate: Pricefx’s Passion for Pricing Takes the Driving Seat in Berlin

June 3rd, 2019 (Updated 03/24/2021)

Duncan Hendy

What happens when 150 of the brightest pricing minds gather in Berlin for a two-day event packed with more actionable insights, thrills and adrenaline rushes than one human mind could feasibly imagine? Time to meet the pricing world’s ultimate event, Accelerate! On May 15-16, 2019, pricing experts from over 20 countries across the globe came together at the NH Collection Hotel in the heart of Berlin for what proved to be one of the highlights of the events calendar. Attendees enjoyed a packed program filled with 15 speaker presentations and two workshops where experts shared their valuable and practical insights...

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FYI

Pricefx Evolves to Enterprise Grade Platform

May 19th, 2019 (Updated 03/24/2021)

Pricefx

Our brand is evolving and so is our platform. IntegrationManager is  now built into the PFX Platform, unlocking the true connected power of our full range of solutions without needing a stand alone module! This means users can now harness the full power of Pricefx at a lower total cost of ownership and with even faster time-to-value. IntegrationManager is now PFX Platform. Yes, you read that right, our long-standing integration solution transformed to an enterprise grade Platform for seamless integration capabilities across the entire Pricefx solutions suite. You still get the same great functionality and connectivity between all of our...

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Realize

CPQ: How to Unlock the Full Value of Every Deal with Your Sales Force

May 11th, 2019 (Updated 06/18/2021)

Tolu Oke
Content Marketer at Pricefx

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’...

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Announcing Bramble 3.7 – Manage Your Distributor’s Claims with Ease

May 11th, 2019 (Updated 03/24/2021)

Pricefx

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...

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Pricefx Adds New Marketing Chief after Accomplishing the Most Successful Year in its History

May 6th, 2019 (Updated 03/23/2021)

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...

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Friendly

Surcharge Pricing, Avocados and Australia

May 6th, 2019 (Updated 03/23/2021)

Gabriel Smith
Chief Evangelist at Pricefx

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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Manage

When Dynamic Pricing and Profit Meet

May 6th, 2019 (Updated 03/23/2021)

Duncan Hendy

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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Realize

RebateManager: Don’t Get Stuck in Rebate Management Hell

May 8th, 2019 (Updated 03/23/2021)

Tolu Oke
Content Marketer at Pricefx

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...

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Insight

PriceOptimizer: The Art of Not Leaving Money on the Table

May 6th, 2019 (Updated 03/23/2021)

Tolu Oke
Content Marketer at Pricefx

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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Realize

Use PriceAnalyzer to Get the Most Out of Your Pricing Data

May 6th, 2019 (Updated 03/23/2021)

Tolu Oke
Content Marketer at Pricefx

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...

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Realize

Unlock the Potential of Better Deals with Informed Quoting

May 1st, 2019 (Updated 03/23/2021)

Duncan Hendy

Key Takeaways: Responding to quote requests with higher accuracy by drawing on pertinent and real-time account-based pricing information means shortening time to quote to a matter of minutes and closing more deals Maximize sales potential and increase your margins according to volume and list prices by giving your sales team easy access to properly configured pricing boundaries Being able to respond to quote requests on an individual basis with higher accuracy and confidence by drawing on pertinent and real-time account-based pricing information means shortening time to quote to a matter of minutes and closing more deals. Never leave your prospects...

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Manage

The Power to Create and Define Discounts of Any Complexity

May 2nd, 2019 (Updated 03/23/2021)

Duncan Hendy

Key Takeaways: Having a deep understanding of profit margins and being able to leverage those insights quickly into your promotion criteria, however complex, without affecting your bottom line are the keys to profitable discounting With PromotionManager, you can publish your promotions and update your pricing fast to all of your external systems, including e-commerce and ERP Life can get complex, pricing even more so. When you are determining the structure of your promotional pricing, it is not just a case of making generous offers to win the sale. Having a deep understanding of profit margins and being able to leverage...

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Realize

The Future of Pricing Software is…

May 2nd, 2019 (Updated 03/23/2021)

Gabriel Smith
Chief Evangelist at Pricefx

Key Takeaways: Multiple industries have been disrupted by new technology because incumbents were comfortable with the status quo If pricing professionals don’t start adopting forward-thinking views of their data, there will of those who do The future of pricing is: fast and& flexible, takes into account omni-channel processes, is customer-centric, intelligent, integrated, and democratic As you may have guessed, pricing is something that I am extremely passionate about so no wonder I found my way to a company like Pricefx. One of the things that I do here is speak about pricing and its impact to business. More importantly though,...

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Thank You to Pricefx Customers for a Successful First Quarter

May 5th, 2019 (Updated 03/23/2021)

Pricefx ended Q1 by gaining 10 more customers globally. Our customers’ support and trust in our vision for a fast, flexible and customer-centric solution is a reason why we continue to grow. We’ve released a timeline of some of our customers’ quotes and opinions of us throughout the year If you have been following us for a while, you will have seen that we closed our series B round of investments at the end of last year and had our most successful year to date. Thankfully, our upward momentum has continued by closing Q1 successfully with a growth that cannot...

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Fast

Why Your Sales Team Isn’t Negotiating Prices: Train Them to Start

May 2nd, 2019 (Updated 03/23/2021)

Tolu Oke
Content Marketer at Pricefx

Key Takeaways:  A lot of sales teams are great at closing deals, but not all are great at negotiating at the price you set. Build confidence with proper project planning and training to achieve pricing success Search the web and you will find millions of results showing customers how to negotiate for a lower price. But an honest conversation with most sales people will reveal that customers might not need such an education in pricing negotiation – they do well on their own. According to experienced pricing expert and author Joanne Smith, “competitive business” is the main objection to pricing...

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Insight

Price Optimization – What Is It – How to Get It

May 17th, 2019 (Updated 02/07/2022)

Ted Hartnell
Chief Architect and Developer at Scientific Strategy

Price Optimization – What It Is and How to Get It Understanding the relationship between your pricing strategy, that of your competitors and your customers’ willingness to pay those prices was once exclusively the domain of large corporations. But with a recent breakthrough in artificial intelligence, powerful, actionable pricing insights have become accessible to anyone selling online. And that means you, too.   Meet Price Optimization, Your New Best Friend Before I make introductions, it is important to explain that Price Optimization is not the same as Price Monitoring and Price Matching. Price Optimization is price setting by the Willingness...

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Insight

The Best Pricing Research Methods for B2B Organizations

November 15th, 2018 (Updated 03/23/2021)

Dr. Ian Tidswell

Key Takeaways: B2B businesses need to conduct structured pricing research. There are four ways to conduct B2B pricing research: direct price experiments, customer prospective opinions (conscious and unconscious), historical experience and hybrid methods. Choosing the right pricing method for your organization is dependent on three factors: the number of new products, the number of products and the weight of investment in research. Having a robust way to assess customers’ Willingness-to-Pay (WTP) is a key capability for all companies. It’s surprising to me how many B2B companies rely on gut-feel or ad hoc processes to get this done. This may be...

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