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Pricing with Excel… and Other Ways to Lose Money 

March 17th, 2021 (Updated 03/24/2021)

Tim Shorter
Global Vice-President Sales, Food and Beverage at Pricefx

How to Plug the Leak and Stop Losing Money With Excel In 2003, Canadian power generator, TransAlta, lost $24 million due to copy-and-paste mistakes. Two years later, Kodak added $9 million to its third-quarter loss due to a typo. And in 2012, JP Morgan lost $6 billion due, in part, to a copy-and-paste error in Excel.   Statistics have shown that 88% of spreadsheets contain significant errors. So out of 10 spreadsheets, only one is showing you accurate data. Do you really want to manage pricing off that?  Unfortunately, all too frequently, a decimal place can be the difference between an...

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Insight

How the Consumer Goods Industry Can Learn from 2020 and Prepare for 2021

March 18th, 2021 (Updated 03/24/2021)

Tolu Oke
Content Marketer at Pricefx

How the Consumer Goods Industry Can Learn from 2020 and Prepare for 2021  While a lot of other sectors had to scramble to meet profit and margin goals last year, some sub-sectors within the consumer-packaged goods industry had other problems to contend with. As we head further into 2021, let’s take a moment to look back at 2020 to see what lessons can be learned from the year and what opportunities and trends await us in 2021.  We asked Andreas Broutas of TGN and John Kuffel, solution strategist at Pricefx, to enlighten us, and here’s what they had to say: ...

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RS Components Go Live!

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

Pricefx

Price f(x) had our GoLive with RS Components. This GoLive was punctuated by cake, balloons, and excitement to see how Price f(x) can help RS Components to meet their pricing goals. About Pricefx: Through the expertise of our software engineers, the dedicated work of our customer success team and the visionary drive of our co-founders, we are committed to providing our customers and partners with the leading SaaS-based price management, price optimization and Configure-Price-Quote (CPQ) solution worldwide.

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Bain & Company Interview on Pricing for Success part 1 (Pricing Matters Video)

July 10th, 2020 (Updated 03/24/2021)

Gabriel Smith
Chief Evangelist at Pricefx

In this two-parter episode, we focus on digital transformation and the impacts on businesses. We, of course, focus in on the quote to order process and pricing, which is arguably the area where digital transformation can have the highest return on investment. This time, host, Gabe Smith, is joined by two Partners from Bain Consulting who are digital transformation leaders and pricing experts: Chuck Davenport and (Paco) Juan Francisco Jimenez.

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Realize

How to Structure Compensation Plans to Drive Sales Performance 

September 11th, 2020 (Updated 03/24/2021)

Duncan Hendy

Managing Compensation Plans That Drive Sales Performance  The companies with the highest employee morale and productivity pay a mix of salary and incentives. Financial incentives beyond base pay include commission, overtime, bonuses, profit sharing, stock options, benefits (insurance, vacation, leave, etc.), but what about the other “softer” forms of compensation that drive sales productivity?   There are plenty of ways to restructure your compensation plans to motivate sales teams, maximize productivity, and retain employees and customers. Many can be achieved without spending a penny. These often-ignored methods, explored in detail below, provide real-life solutions for extracting the best performances from each...

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Insight

Pricing Matters : The Ethics Continuum in Pricing (YouTube Video)

February 25th, 2020 (Updated 03/23/2021)

Gabriel Smith
Chief Evangelist at Pricefx

Pricing Matters brings you trends, stories and best practices from around the revenue management and pricing world. Together, we will explore how the landscape is changing with technology and new business models. Listen to lively discussions from veterans of the field as we take on topics ranging from ethical pricing to cloud disruption as well as a range of sector-based subjects.

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Insight

How the Discrete Manufacturing Industry Can Learn from 2020 and Prepare for 2021 

March 15th, 2021 (Updated 03/31/2021)

Duncan Hendy

What the Discrete Manufacturing Industry Can Learn From 2020 to Plan for 2021  As we head further into 2021, it’s clear that although some things are going back to normal, that “normal” might be further off than we anticipated. So, what’s someone in the manufacturing industry to do?  That’s why we asked the experts what they think are the biggest lessons and windfalls of 2020 and what companies like yours can do to still be successful in 2021 and beyond.  In Your Opinion, How Has 2020 Changed the Discrete Manufacturing Industry?    Maggie Buckland – Big Data Pricing  In 2020, the...

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Realize

How to Measure Success in a Pricing Digital Transformation Project

September 9th, 2020 (Updated 03/23/2021)

Tolu Oke
Content Marketer at Pricefx

How You Can Measure Success in a Pricing Digital Transformation    Even in the wake of COVID-19, digital transformation continues to surge in popularity across all sectors. It’s forecasted to increase by 10% in 2020 to $1.3 trillion. Still, despite this sustained growth, some 84% of companies’ digital transformation efforts end in failure. It’s an alarming statistic, but one that seems less surprising when you learn that half of CEOs have no metrics whatsoever for digital transformation success!  It’s vital to remain alert to successes and failures along your digital transformation journey, staving off problems as they arise. Having clear, carefully tracked KPIs in place lets...

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Applying a Change Management Perspective to Digital Transformation 

September 8th, 2020 (Updated 03/24/2021)

Duncan Hendy

Change Management Principles to Aid Your Digital Transformation Successful digital transformation requires making fundamental changes to cope with a new, globalized, technology-driven market environment. But employees are instinctively resistant to change. Rosabeth Moss Kanter identifies ten reasons for such reluctance. These include a loss of control, uncertainty, breaking habits and routines, loss of face, concerns about competence, and the false belief that change equals more work!   The answer to a smooth rollout of digital transformation technology and processes is adopting a change management perspective. Here’s how you can make change management work within your organization.  Working with the Salesforce for Change Management  Sales teams are particularly resistant...

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Insight

The Real-Life Impact of Digital Transformation on Pricing 

September 3rd, 2020 (Updated 03/23/2021)

Tolu Oke
Content Marketer at Pricefx

What Is the Impact of Digital Transformation on Pricing? The tangible impact of digital transformation on pricing is far more profound than merely the digitization of legacy paper-based systems. Sure, automation plays a vital role, streamlining processes and boosting pricing analysts’ and salespeople’s’ efficiency. But real transformation harnesses the latest technology to redefine pricing strategies, solve customer problems, and identify new and exciting revenue-generating opportunities. Some companies can add 2% to their bottom line in the first quarter after transformation showing that there are real stakes involved.  Price optimization, management, and realization software makes pricing your company’s unfair advantage, generating pure...

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Insight

How the Retail Industry Can Learn from 2020 and Prepare for 2021

March 11th, 2021 (Updated 03/24/2021)

Tolu Oke
Content Marketer at Pricefx

What the Retail Industry Can Learn From 2020 to Plan for 2021 Last year presented a lot of challenges but also plenty of opportunities for the retail industry. From BOPIS to the increased adoption of omnichannel messaging and pricing practices, the retail industry seems to have had many options to adapt and evolve.  We spoke to Andreas Broutas of TGN and Jochen Schmidt, Manager of Solution Strategy for EMEA, to discover what he felt were the key lessons from 2020 and how to face the changing landscape of 2021.  In Your Opinion, How Has 2020 Changed the Retail Industry?  Andreas...

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How the Chemical Industry Can Learn from 2020 and Prepare for 2021 

February 25th, 2021 (Updated 03/24/2021)

Duncan Hendy

Chemical Industry – Learn From 2020 and Prepare for 2021 Last year presented a lot of challenges for the chemical industry. Robert Smith, an industry expert at Pricefx, even wrote an article on ideas for what the chemical industry could do to prepare when it was clear that suddenly, “business as usual“ would not be enough to sustain an organization.  Well, it’s almost been a year or so since “lockdown”, “quarantine” and “face mask” became part of our daily vocabulary, so, it’s time we took a look back at 2020 and forward to 2021 and beyond.  We spoke to Martin...

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How to Reduce Overhead & Risk in the Manufacturing Industry

September 2nd, 2020 (Updated 03/24/2021)

Duncan Hendy

Reducing Overhead and Risk for the Manufacturing Industry Considerations are vast in the reduction of overhead and risk for the manufacturing industry. Especially when you’re looking at adapting your business to dynamic market shifts. We are here to help simplify the process. What Is Overhead and Risk in the Manufacturing Industry? In simple terms, overhead is the sum of ongoing business expenses not associated with the production process. Manufacturing overhead such as plant costs, salaries Selling and administrative costs Corporate salaries Risk refers to the risks incurred by manual processes, which can be broken down into three key areas. These...

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How to Unlock Pricing Potential Trapped in Minds and Excel Sheets

August 31st, 2020 (Updated 03/24/2021)

Tolu Oke
Content Marketer at Pricefx

Release the Pricing Potential Trapped in the Minds and Excel Sheets Of Your Organization Global spending on digital transformation is predicted to grow to $1.3 trillion in 2020. But, a Pricefx survey of pricing professionals found that 54% still relied on Excel as their primary pricing tool, as opposed to cloud-based software that offers far superior performance for reasons discussed in this piece.   This startling figure shines a light on the lack of investment that companies are making in their pricing infrastructures, and hints at the masses of powerful pricing discoveries that lie trapped in Excel documents and the minds of...

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Insight

The Psychology and Behavior of Pricing Decisions

February 11th, 2021 (Updated 03/27/2021)

John Kuffel
Solution Strategist at Pricefx

The pricing of consumer goods becomes exciting when the psychology of the shopper enters the picture. Find out how pricing, behavioral science and psychology meet to promote or dissuade purchasing decisions. Read it here.

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Insight

Lessons in Pricing from 2020 and Trends for Success in 2021 

February 8th, 2021 (Updated 03/24/2021)

Tolu Oke
Content Marketer at Pricefx

What Experts Learned from 2020 and Trends for 2021 While very few of us are sad to see 2020 in our rear-view mirrors, its effects on how we conduct business has left ripples that will be felt in 2021 and beyond. We spoke to top pricing industry experts from around the world to get their thoughts on what they felt were the most important lessons of 2020 and what companies like yours can do to find success in 2021.  In Your Opinion, How Has 2020 Changed the Pricing Industry?   Depending on which industry you’re in, there’s no doubt that you’ve experienced some changes in how you operate internally as well as with customers and partners. When speaking with our experts, we found a few key themes kept coming up – digital transformation, agility, precision and confidence. Surprisingly, these...

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Realize

Pricing Matters: Digital Transformation and Pricing Excellence – Your Essential ROI-boosting Tools (Part 2)

August 26th, 2020 (Updated 03/24/2021)

Gabriel Smith
Chief Evangelist at Pricefx

How to Use Digital Transformation in Pricing to Boost ROI In this second part of our two-parter series, we focus on the impact on companies of not future-proofing their businesses with digital transformation and smart pricing, and the very real risk of them not being around in 10 years! I am once again joined by two Partners from Bain Consulting who are digital transformation leaders and pricing experts: Chuck Davenport and (Paco) Juan Francisco Jimenez. Listen to the podcast with the embedded player below, read along with the transcript, or on YouTube. You can also listen on Spotify, Stitcher, or wherever...

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NEGOCIATIONS ANNUELLES 2021 DERNIERE LIGNE DROITE !

August 18th, 2020 (Updated 03/24/2021)

Bloomkeys

NÉGOCIATIONS ANNUELLES 2021 DERNIÈRE LIGNE DROITE ! – Séminaire en ligne La négociation annuelle des prix est un sujet récurrent pour les entreprises. Par définition, pourrait-on dire. Une étude récente a mis en chiffre une vérité dont beaucoup ont conscience : la réussite n’est pas au rendez-vous. Seulement 17% des entreprises atteignent pleinement leurs objectifs. Le contexte économique actuel ne peut qu’accentuer la difficulté de l’exercice. De la formulation d’une stratégie pertinente à la préparation et facilitation de l’exécution, il existe pourtant une voie pour gagner en efficacité et obtenir de meilleurs résultats. A cette période l’année, la plupart des directions commerciales et marketing ont commencé à travailler sur...

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FYI | Solutions | Realize

PricefxPlasma

January 28th, 2021 (Updated 03/24/2021)

Pricefx

Introducing the Pricing Industry’s First Big Data Insights Machine: PricefxPlasma™ Powered by Bain & Company  PricefxPlasma™ is our latest solution powered by global management consulting firm Bain & Company that provides industry-level benchmarking to B2B enterprise companies that need to develop strategic insights on their pricing processes and performance compared to similar companies.   The only solution of its kind in the pricing world, PricefxPlasma gives customers a unique business advantage to improve their pricing strategy and execution. Users can leverage a pre-defined set of more than 20 market-relevant performance KPIs to reveal insights into industry pricing and to measure their pricing performance.  Doing away with anecdotical evidence, generic and poorly defined benchmarks, and pure guesswork when it comes to assessing pricing in a marketplace context, PricefxPlasma is the only pricing...

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Service Contract Pricing: How to Tap into That Lucrative Stream of Recurring Revenue

August 13th, 2020 (Updated 03/24/2021)

Avrogan
Strategy and Consulting at

Service Contract Pricing: How to Tap into That Lucrative Stream of Recurring Revenue – Webinar We believe the era of product ownership is on its way out. Nowadays, more and more companies are trying to gain higher maturity in servitization. This is not only because they want to have more predictive and continuous revenue streams, but also because their clients are asking for such a way of conducting business. Every day, more companies are asking their vendors to provide outcomes they need without having the burden of owning types of machinery or assets that require extensive maintenance and attention. Companies...

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FYI | Realize

Say “Hello” to Velo’s Co-Innovator, Brian Sharp

December 16th, 2020 (Updated 03/24/2021)

Matt Dawood
Partner Marketing Manager at Pricefx

Peeking Behind the Curtain to Say Hello to Velo’s Co-innovator: Brian Sharp   Velo is the industry’s first strategic negotiation solution specifically designed to help sellers maximize value on large-deal negotiations. Combining world-class software with a unique service offering, it derives its name from Pricefx’s ValueEstimator (VE) and LargeDealOptimizer (LO) modules, which have been paired with Profit Velocity’s methodology to create a unique offering to companies managing large and highly complex negotiations. An Asymmetrical Competitive Landscape and an Unmet Market Need For many B2B companies, more than 50% of their revenue comes from their top 5-10% of customers, making those...

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How to Eliminate Margin Leakage in the Manufacturing Industry

July 22nd, 2020 (Updated 03/23/2021)

Tolu Oke
Content Marketer at Pricefx

Eliminating Margin Leakage in the Manufacturing Industry   Margin leakage can have a devastating effect on your profits, leaving your “pocket price” – the amount of money you receive after all discounts and incentives have been accounted for – way below the value stated on your price list. Margin leaks range in threat level from drips to torrents, but as anyone who’s ever experienced a weeping pipe will attest, a drip can be every bit as damaging as a flood! In this article, we identify the critical sources of margin leakage in the manufacturing industry. And explore how the manufacturing...

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FYI | Solutions

Vesper 6.0 Is Here: Say Hello to the New Face of Pricing

December 2nd, 2020 (Updated 03/24/2021)

Lukas Sirucek
Product Manager at Pricefx

The Latest Product Release – Vesper 6.0 You may have heard us say it before: At Pricefx, we are passionate about pricing.  It’s a beautiful curse. We can’t help obsessing over your pricing success. It’s why we spend so much time between versions drilling down into what really matters to you and how we can propel you to pricing superstardom.  And that’s why we’re proud to reveal Vesper, the all-new Pricefx solution that is super streamlined, amazingly agile, and dangerously powerful.  With its first-class functionality, you’ll be getting more done in less time and with better results than ever before.  How did we arrive at the name Vesper? Well, it’s part of a tradition at Pricefx to name our releases after drinks that our colleagues vote on. At our All...

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Pricing Matters: Digital Transformation and Pricing Excellence – Your Essential ROI-boosting Tools

July 10th, 2020 (Updated 03/24/2021)

Gabriel Smith
Chief Evangelist at Pricefx

Digital Transformation is the Way to Pricing Excellence In this two-parter episode, we focus on digital transformation and the impacts on businesses. We, of course, focus in on the quote to order process and pricing, which is arguably the area where digital transformation can have the highest return on investment. This time, I’m joined by two Partners from Bain Consulting who are digital transformation leaders and pricing experts: Chuck Davenport and (Paco) Juan Francisco Jimenez. Listen to the podcast with the embedded player below, read along with the transcript, or watch the video on YouTube. You can also listen on...

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Realize

Ventana Names Pricefx a Finalist in 13th Digital Innovation Awards

July 9th, 2020 (Updated 03/24/2021)

Pricefx

Innovation in the Sales Department with Pricefx Pricefx has just been named a finalist in Ventana’s 13th Annual Digital Innovation Awards in the category of Office of Sales. In order to be a finalist in this category, candidates must, “exemplif[y] innovation in the application or technologies that support the sales organization”. We believe that our dedication to innovation and providing the very best in cutting edge solutions to the market are just some of the reasons we have received this honor.  Here are just three of the most recent innovations that we have invested in to make pricing faster and simpler.  ...

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Pricing Matters and PPS Webinar: How to Navigate Pricing Ethically

May 28th, 2020 (Updated 03/24/2021)

Gabriel Smith
Chief Evangelist at Pricefx

In the third and final installment on the topic of ethical pricing, Ian and I take it to you, the audience. In a live webinar with Professional Pricing Society, we give an overview of the topics covered in previous episodes of the podcast and answer questions from pricers and other business professionals from around the world.   So, if there are any questions that you wanted to ask or comments that you wanted to make, perhaps you can find them echoed in the questions and comments of those who attended.   You can watch the webinar here or listen to the podcast here or wherever else podcast are streamed. Enjoy!  ...

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