Let's be real: if you haven't tried using Generative AI (GenAI) tools like ChatGPT, Microsoft Copilot, Gemini, Claude, Perplexity AI, or others in your work, you are probably in the minority. Those who have embraced these tools are already enjoying the productivity boosts they offer and discovering new use cases on an almost daily basis. Now, with Pricefx Copilot, you can get smart pricing insights, actionable recommendations, and prioritized actions all through a GenAI chat-like interaction with the Pricefx software.

For over a decade, Pricefx has led in Pricing AI by investing in advancing technologies. From machine learning and neural networks to agent-based AI and now Generative AI, we innovate to enhance value for our customers. As the top enterprise-grade native-cloud pricing software vendor, we use cutting-edge tech to solve business problems and boost profits and growth.

For those looking for a niche (and nerdy) deep dive into the distinct types of AI models used in pricing software in general, check out Sylvain Rougemaille’s recent eBook on the topic by clicking on the image below:

But for those looking for the latest and greatest uses of GenAI in pricing software, let’s dive straight into what Pricefx Copilot is and what it does and how it makes your pricing software use the best it can be.

What Pricefx Copilot Does - Unlocking Business Insights with Pricefx Copilot in Sales and Customer Insights Dashboards

In today’s market, pricing professionals need to optimize revenue and profitability while monitoring changing customer behaviors.

Pricefx Copilot, an AI-powered assistant within Sales Insights and Customer Insights dashboards, supports pricing and sales teams in making data-driven decisions.

Long story short, by processing and analyzing large amounts of business data, Pricefx Copilot assists professionals in identifying underperforming products, discovering new revenue opportunities, and taking action through simple, natural language queries.

How to Use Pricefx Copilot - A Pricing Analyst’s Journey

1.   Identifying Underperformance and Revenue Opportunities

A pricing analyst accesses the Sales Insights dashboard, ready to evaluate the performance of the product lineup. By initiating queries such as, “Who are the customers contributing most to the margin?” or “Identify the underperforming products”, Pricefx Copilot promptly analyzes the sales data, pinpointing areas of concern.

Utilizing this quick analysis, the analyst identifies products with lower sales and pricing inconsistencies. The AI assistant also offers potential reasons—like discounts eroding margins or competitive pressures on price sensitivity—enabling the analyst to develop a strategic action plan.

2.   Investigating the Root Cause of Performance Issues

Gaining an understanding of why certain products are underperforming is vital. Rather than spending extensive hours manually scrutinizing reports, the pricing analyst can simply ask, “What can be the drivers of revenue underperformance for Product X?” With this query, Pricefx Copilot delivers crucial insights such as evolving demand trends, variations in average transaction prices, or an increase in customer attrition.

If the issue goes beyond pricing, the AI assistant can pinpoint relevant factors from the Customer Insights dashboard. For instance, a question like, “What’s the sales volume trend of Product X over the last 12 months?” might reveal the impact of recent discounting strategies that have shifted customer preferences.

3. Creating Actionable Recommendations for Pricing Teams

Equipped with these insights, the analyst proceeds with strategic recommendations. By asking, “What pricing actions should we take to enhance performance for these products?” Pricefx Copilot offers a range of tailored strategies, such as modifying discount levels, refining price segmentation, or reassessing bundling options.

4.Executing the Strategy with Seamless Actionability

Once the pricing team agrees on a strategy, Pricefx Copilot ensures smooth implementation. The analyst could inquire, “Can you assign an action to pricing team to update these prices?” These tasks are assigned directly to the appropriate team members through the platform, ensuring responsibility and efficient execution.

The team then updates the list price in the Live Price Grid. Utilizing the structured workflow enabled by the AI assistant, price changes are reviewed, approved, and systematically applied. The prices can be also updated directly from the chat together with the identification of price lists featuring selected products.

5. Driving Continuous Optimization and Growth

The capabilities of Pricefx Copilot extend well beyond a single set of pricing modifications to advanced AI Optimization. With our set of productized price optimization use cases you can create an alternative pricing scenario for a range of product groups to maximize your profitability.

By making business insights accessible via natural language queries, Pricefx Copilot simplifies the complexities of pricing analytics. It empowers teams with swift, intelligent, and actionable recommendations, leading to enhanced financial outcomes and a stronger competitive position.

The Future of AI-Assisted Pricing

The integration of AI into price management software is reshaping how businesses operate, allowing teams to make faster, data-driven decisions with confidence. Pricefx Copilot enhances the capabilities of Sales Insights and Customer Insights dashboards, making it easier than ever for pricing and sales professionals to identify opportunities, mitigate risks, and execute impactful strategies.

With Pricefx Copilot as a trusted AI assistant, businesses can unlock new levels of efficiency and performance—turning insights into action with just a simple question.

Watch our Pricefx Copilot webinar on demand (by clicking on the image below) and learn:

• What Pricefx Copilot is and how it can help you in your pricing strategy.
• How it works within the Pricefx platform: A Live Demo.
• Our special Copilot offer for existing customers.