Is Pricefx Too Complex to Use? What Our Customers Think

Pricing software serves as a vital tool for businesses seeking to set and manage prices effectively in today’s competitive landscape. With a myriad of digital tools and applications available, companies aim to optimize pricing strategies, maximize revenue, and enhance operational efficiency. However, not all pricing software solutions are created equal, and understanding their nuances is crucial for businesses navigating the complexities of the market. In that light, join us as we explore the question of “Is Pricefx too complex to use?’ from our customers’ points of view.

In exploring the intricacies of pricing software (and its relative complexity), it is essential to acknowledge Pricefx’s unique value proposition within the market. Our platform distinguishes itself through native integration, offering a seamless experience across all modules within a unified technology stack. This integration stands in stark contrast to traditional ‘on-premises’ enterprise pricing software vendors, setting Pricefx apart as a top choice in the pricing software landscape.

 

Check out Pricefx features and user ratings with G2 (the largest and most trusted software peer review site), and how our ease of use, set-up and admin stacks up against our pricing software competitors by clicking on the image below:

Yet, while Pricefx boasts advanced technological capabilities, we recognize the challenges associated with implementing pricing software. Configuring pricing software entails a formidable task, primarily due to the need for skilled personnel and effective communication. Beyond the technical aspects, successful implementation hinges on clear communication channels between the Data Science team and the business, ensuring alignment with organizational objectives.

However, we know that some users may still find our platform to be a bit complex, especially when it comes to configuration. We have heard your feedback, and we are committed to making Pricefx more accessible to everyone. Pricefx recognizes that the pricing landscape is constantly evolving, and it remains committed to continuous improvement and innovation. The company regularly gathers feedback from customers to identify areas for enhancement and incorporate new features that address evolving pricing needs.

In this article, we will share how we collect customer feedback on all topics (including our perceived complexity and more) and how, with the use of a range of examples, Pricefx is committed to addressing complexity concerns and providing a user-friendly experience for all its customers.

How Pricefx Invites and Collates Customer Feedback

At Pricefx, we are committed to listening to our customers and learning from their feedback. We’re taking all this feedback seriously and we are adding new features and functionality to our platform, and we’re also making our existing features more accessible. We are also investing in training and support to help our users get the most out of our software.

But where do we get the feedback from to inform our decision-making?

G2 Reviews

As part of our commitment to transparency and customer satisfaction, Pricefx actively seeks and values feedback from our users through various channels. One of the avenues through which we gather insights is via G2 (as discussed above) a prominent peer-to-peer software review site.

Please note that while the G2 reviews linked later in this article are based on publicly available information, including reviews, rankings, and testimonials, we encourage readers to conduct their own research and consider the information provided here alongside other sources to make informed decisions.

Additionally, it is important to clarify that the trademarks mentioned in this article belong to their respective companies and not to Pricefx. References to trademarks, including the “G2” trademark, are used solely to indicate the source of information and do not imply any affiliation or endorsement by the respective companies. Note – Nothing in this article is intended to suggest any affiliation or sponsorship by companies other than Pricefx.

Continuous Feedback: A Foundation for Innovation

Beyond traditional review channels, Pricefx actively seeks feedback through various mechanisms, including the Pricefx Platform Manager, Net Promoter Score (NPS) surveys, and pre-implementation interviews with end-users. These channels provide a rich source of insights into user experiences and preferences, enabling Pricefx to refine its products and services accordingly. Let’s take a closer look:

Pricefx User Group and Executive Roundtable: A Collaborative Approach

The Pricefx User Group (PUG) plays a pivotal role in shaping Pricefx’s development. This exclusive group brings together end users to share feedback, discuss improvements, and provide valuable insights into their experiences with the software. Similarly, the Quarterly Executive Roundtable in North America provides a forum for senior executives to engage with Pricefx and provide strategic guidance. In the executive roundtable, we foster a community of like-minded strategic thinkers who enjoy each other’s company and like to share their experiences with our pricing software product and learn from one another.

Direct Feedback Through the Pricefx Pricing Software System

Within the Pricefx Solution itself, users have the option to “Submit Feedback,” allowing them to directly communicate their ideas, concerns, or suggestions for enhancements.

Feedback Through Platform Manager

Platform Manager is a hub for customers, primarily administrative or power users, to submit nuanced product requests and suggestions.

Net Promoter Score (NPS) Survey: Product Improvement Feedback

The Pricefx Net Promoter Score (NPS) survey allows end-users to rate our product and provide qualitative explanations, offering valuable insights into their experiences. This dual approach, comprising a score and detailed written feedback, provides a comprehensive understanding of user preferences and implementation nuances. By focusing on configuration and internal processes alongside product features, this feedback emphasizes the importance of optimized setup for positive user experiences.

Feedback Through Pre-Implementation Interviews with Pricefx End-Users

Pre-implementation interviews with Pricefx end-users are crucial for successful deployment, as highlighted by recent case studies. One global enterprise faced post-implementation grievances due to overlooking end-user consultation, leading to configuration issues. Another corporation encountered challenges stemming from insufficient understanding of end-user needs during implementation. These experiences underscore the significance of engaging end-users early through interviews to ensure tailored solutions and seamless adoption.

Feedback Through Our Customer Success Management Team

Our team of Customer Success Managers (CSMs) is devoted to ensuring that customers attain their desired outcomes with our pricing software product. Customers regularly communicate with their CSMs, submitting requests and emphasizing critical processes. These CSMs not only guide customers through the process but also assess how similar functionalities could benefit other customers, underscoring their proactive role in introducing and advocating for new pricing functionalities.

The Number One Complexity Issue for Our Customers: Configuration

To understand the root of the configuration challenges faced by our customers, it’s imperative to delve into the evolution of pricing software and the distinct types available in the market. Pricefx occupies a unique position at the enterprise-level spectrum, catering to the complex pricing needs of large organizations. These solutions are tailored to handle a high volume of transactions, support multiple pricing models, and seamlessly integrate with other enterprise systems like ERP and CRM platforms.

However, the complexity inherent in enterprise-level pricing software can pose hurdles for businesses, especially concerning configuration and data-related issues. Addressing these challenges head-on, Pricefx emphasizes a personalized approach to configuration, tailoring solutions to individual client needs. This focus empowers organizations to optimize their pricing software tools effectively, aligning them with specific business goals and models.

However, as every company has its unique needs and consequently, distinct levels of configuration complexity to overcome, building an ‘out of the box’ system is met with challenges. Time never stands still and technological progress marches on. But the great news is that we are making changes, and those changes are directly inspired by meeting the needs and concerns raised in customer feedback.

For example, after receiving G2 reviews with customer feedback like “Setting up a configuration is not a no brainer……Review different options on how and in what way you are connecting PFX into your existing IT infrastructure” and “The lack of Pricing expertise to support the customer is the design of the configuration. It’s hard for customer to see how to manage his future process in the system without advice of the editor”, in July 2023, we added Pricefx Visual Configuration to simplify configuration options across various functionalities and extends the capabilities of Pricefx Accelerators. Users can now design and configure with drag-and-drop elements and let the software generate the code.

To learn more about the customer feedback inspired Pricefx Visual Configuration Capability and its uses and benefits to our customers, check out this handy article below:

As ease of use of our platform is high on our radar to help our customers continue to find additional value in their pricing efforts, watch out for more innovative solutions being added to our solution to ease the configuration process.

The Importance of Simplifying Pricing Software Configuration

Getting configuration isn’t just about overcoming complexity, it is also about cost-effectiveness and efficiency; it’s about future-proofing your solution to evolve alongside your business. Recognizing the diverse needs of our customers, we’ve developed mostly pre-configured versions of our pricing software, known as Accelerators, catering to companies that don’t require highly tailored systems. While we offer various levels of configuration options, we understand that not all organizations need them.

At Pricefx we thrive on crafting tailor-made pricing software solutions that empower our clients to take the reins with minimal training or with the guidance of our expert partners, depending on their internal resources.

We excel in handling both simple configurations, utilizing pre-configured Accelerators, and heavy configurations, involving complex logic written in programming languages like Groovy/Java, to meet every business need.

So, when you choose to opt for the level of configuration that precisely fits your organization’s needs, you’re not just expediting your return on investment (ROI); you’re also reducing the total cost of ownership (TCO) by maintaining performance and avoiding the pitfalls of traditional custom builds or deeply customized solutions.

By embracing the configuration complexity made to fit your organization’s precise requirements. you leverage proven abstracts tailored to your needs, ensuring a useful product sooner.

Other Pricefx Complexity Issues Resolved by Embracing Feedback

These recent improvements (see below) to the Pricefx platform have been driven by valuable feedback received from customers, both positive and negative. This feedback loop ensures that the platform continues to evolve in response to user experiences and preferences.

Enhanced Data Table Flexibility

Here is the G2 Review that precipitated the change – “A lack of flexibility in implementing changes to data tables” – A new functionality has been recently introduced that allows our customers to watch other existing data that can assist with their desired outcomes without being required to make data changes in tables.

User-Friendly Interface Enhancements

And we have introduced a new platform interface to the Pricefx solution directly listening to G2 reviews just like this one: “The interface is sometimes a little bit complicated with too much information” – A reimagined Pricefx interface functionality, now offers users the ability to filter columns, perform multiple selections, and effortlessly rearrange and enhance their display.

Increased Partner Focus to Assist Customers

Not every business always has the internal expertise (or IT team availability) to implement its pricing software independently. As a result of review feedback like this, “An area for improvement is the limited consultancy ability”, Pricefx has increased the number of partners it works with and is also now partnered with Enable to assist its customers maximize profitability with dynamic, data-driven pricing and rebates strategies.

Learn more here about leveraging the combined pricing and rebates functionality created by Pricefx-Enable partnership here:

Improved Big Data Management

As Pricefx’s client size has grown to include larger global organizations with diverse product ranges and increased product and customer complexity, we have taken onboard customer feedback like the following;

“Some challenges with system performance in handling the huge amount of data we have”  

Better Training More Focused to Customer Requirements

As doing business becomes more complex and the technology developed to support evolves at a rapid rate, Pricefx is listening to customer feedback like the following;

“A more detailed learning portal and tool diagnostics for performance reports and suggestions” –

As a result, a GenAI (Generative AI) chatbot has introduced to assist finding learning information quickly and intuitively through a thoroughly redesigned AI knowledge base.

Will Pricefx Continually Evolve with Easier to Manage options?

For more than a decade now, Pricefx has been at the forefront of the pricing software revolution, continually evolving with new and better ways to break down the complexity of pricing tools and develop less complex and user-friendly software such as

In 2024, Pricefx’ steady investment in AI will continue and we will introduce a new set of conversational GenAI capabilities into the Pricefx product and platform.

These will debut as an enhancement to our existing Actionable Insights capability. Deploying a tailored and open source LLM (Large Language Model) technology, our GenAI Actionable Insights will enable a natural language-based processing and generation to create and serve prescriptive and predictive insights that users can leverage to quickly identify opportunities and risks that have the biggest volume, revenue, and margin impact for the company.

We have also deployed GenAI LLM capabilities in our product Knowledge Base, enabling natural language chat-based search and discovery for the entire online training and education website for Pricefx products and services, and in the Product Similarity Accelerator to identify substitute products to upsell and cross sell.

From machine learning and neural networks to agent-based AI and now GenAI, we continue to pursue AI innovation to drive value performance for our customers. Our focus remains on being Fast to value with our productized use cases, Flexible with our composable Bring-Your-Own Science Optimization capability, and Friendly with our clear-box AI that lets your team see exactly how optimizations are designed and executed with rapid value impact and long-term scalability and transparency in mind.

To learn more about AI in pricing and some cool things that you can use it for, check out this handy article below:

Meanwhile, Happy Pricing!