Pricefx vs Vendavo? – 2024 – Choose the Best Software for You

We live in times of rampant market uncertainties and rapid price shifts across most industries. As such, large and small or medium-scale enterprise organizations are increasingly turning to pricing software to assist them in adopting relevant and data-informed pricing strategies. If you have been scouring the internet for potential pricing software that could best suit your organization’s unique set of business objectives, you may have narrowed down your search to Pricefx vs Vendavo. It can be confusing, both options look great on paper, but how do you choose the best software for you and your business?  

At Pricefx, we have been helping clients choose the best possible pricing software outcomes for their businesses for more than a decade. That’s exactly why we have put together this comparison article on Pricefx vs Vendavo. Before we dive in, four important points to note:

• This comparison article is based upon information available to the public, including information gathered from publicly available reviews, rankings, and testimonials. 
• As such, most of the information on Vendavo is based on their first-generation legacy software. Where known, information on Vendavo’s three software company acquisitions, Endeavor CPQ, Market Medium and Navetti Pricepoint (to modify their first-gen system) is also included. 
• We suggest you also undertake your own research in order in combination with the information supplied below to reach your own decision. 
• Please also note that the “Vendavo” trademark and any other Vendavo-specific names or branding are owned by Vendavo, not Pricefx, and nothing in this article is intended to suggest any affiliation with or sponsorship by Vendavo. Similarly, the “G2” trademark is owned by G2, and references to G2 are not intended to suggest affiliation with or endorsement by G2. 

So, let’s get started and take an in-depth look at Vendavo and Pricefx and check out how the two pricing software providers stack-up concentrating on the strengths and weaknesses of each, and what they offer to your organization. 

Pricefx Competitors – The Top 7 Comparison Features  

Conditional upon what your company will require and your specific pricing software needs, there are a distinct set of “features” that you can use as a guideline when comparing Pricefx head-to-head against Vendavo. 

Each of the two pricing software companies has a different range of functionality and their strong or weak points. 

Let’s move forward and examine the top 7 comparison features that we have found companies use to compare leading pricing solutions against each other.  

Wherever possible, we also provide a clear winner in each category for your decision-making purposes: 

1. Self-sufficiency 
2. Ease of Use 
3. Shortest time to Value 
4. Easiest Integration with Existing Systems  
5. Most Accessible and User-Friendly AI Capabilities 
6. Most Comprehensive Coverage of Current and Future Requirements  
7. Best Solution for My Industry 

Do you prefer an independent assessment?  

Please feel free to check out this G2 Pricefx vs Vendavo head-to-head review snapshot or read on to see how we compare them. 

1. Self-sufficiency 

Winner – Pricefx 

For those businesses that prefer an option that can be used simply by your own pricing team and can build your own self-sufficient pricing rules flexibly into the system, Pricefx takes the title over Vendavo. 

With Pricefx, you will be able to have your staff trained by the Pricefx Team to independently use your pricing software. With Vendavo, changes to the pricing logic being difficult to comprehend should your pricing strategy change, will require requesting assistance from Vendavo staff. Heading back to customer support may become a regular occurrence as seeing your own reports and price changes may require the intervention of Vendavo’s people. 

Pricefx will allow for use of the pricing software without prescriptive input from the provider should you prefer. Get your staff involved in whatever training you wish to make any changes your organization requires to become pricing self-sufficient.

 

However, let us give credit to Vendavo where it is due.  

The Vendavo User Interface looks and feels better and easier for use with its intuitive design and navigation. However, it could be described as ‘style over substance.’ The underlying architecture lets down the great Vendavo design and going back to their team to solve problems is commonplace. 

Overall, however, the inherent flexibility of the Pricefx system means less work, done easier.

Pricefx provides more results, can be configured and used seamlessly and independently by your own staff, with the ability to independently update the technology in the future. 

2. Ease of Use

Winner – Vendavo 

In what was one of the closest of all the categories, Vendavo edges Pricefx in the ‘Ease of use’ category 78% to 77% in 2024. 

It’s a big move for Vendavo this year and it’s great as a whole for the pricing software industry that most vendors are improving their game in becoming tools that are easier to use for their clients. 

For example, a recent Vendavo reviewer commentated that the ease of access, and easy sharing of information was one of the things they like most about the tool. 

While for Pricefx on the other hand, the on-schedule implementation, levels of flexibility so any user can configure the tool highlighted our simplicity of use. No IT support required for pricing changes and the internal pricing teams of our customers being able to independently adjust the settings were also highlights. 

3. Shortest Time to Value

Winner – Pricefx (with honorable mention to Vendavo) 

In what is the biggest change since our Summer 2023 Pricefx vs Vendavo head-to-head comparison review, Vendavo now has now caught up immeasurably to Pricefx , but Pricefx is still your overall winner in this category. 

Since the last review, Vendavo return on investment (ROI) time has stablized at 21 months, while Pricefx still sits at 20 months. 

Hats off to Vendavo for their efforts in maintaining their time to value and at Pricefx we are always working towards improving ours. 

However, it’s important to note that the numbers themselves require further analysis to fully understand the implications. 

Over the past year, Pricefx has expanded its customer base to include large enterprise businesses that require more complex pricing structures and configurations. New customers added to the Pricefx roster since the time of our last head-to-head review include AeroMexico Airlines, Assa Abloy AB, Clemens Food Group, Fiskars Group, United Electronics and Weyerhaeuser Company. Additionally, more than 30 customers expanded their engagement with Pricefx, mostly within the enterprise-level business sector.  

At the same time, Pricefx was named one of only two leaders in the Winter 2024 Enterprise Grid® Report for Pricing Software by G2, based on the responses of real customers using pricing software to define, manage and analyze the best pricing strategies for their products and services.

 

Enterprise G2 Grid® for Pricing Software | Spring 2024

 

This strategic shift indicates Pricefx’s successful aim to establish itself as the leading enterprise-level pricing software provider in the world. As these larger companies often have more intricate pricing requirements, Pricefx’s focus on catering to their needs highlights their commitment to delivering sophisticated pricing solutions tailored to the enterprise market.  

By targeting these enterprise customers, Pricefx aims to solidify its position as a top player in the pricing software industry and support the pricing strategies of major global businesses. 

With that, we anticipate that as we become more adept with exclusively enterprise-level clientele, we expect our time to value to bounce back and continue to improve.

4. Easiest Integration with Existing Systems

Winner – Pricefx 

Pricefx edges Vendavo for ease of integration with your system, regardless of which system you are looking to integrate with.  

The pure architecture of the system – Pricefx is a modern native-cloud software system with no reliance on the baggage of a legacy system, making for smoother integrations. Simply put, when you integrate your data with Pricefx, you are connected through a single interface.

Many Vendavo clients frequently report that implementation takes much longer than expected and a great deal of customization and frequent interaction with customer support is required to get the system to function as it is designed to. A notable exception in 2023 has been where Vendavo has improved its CRM Integrations. 

However, overall, Pricefx offers seamless integrations with a wide range of systems. This level of integration ensures that businesses can leverage their existing infrastructure and data sources, enabling a comprehensive approach to pricing optimization.  

Pricefx understands that each business has unique pricing requirements, and their software can be configured to fit those needs. Whether it is pricing strategies, promotions, or deal management, Pricefx offers a highly configurable solution. This flexibility allows businesses to align the pricing software with their specific workflows and adapt to changing market conditions. With the ability to customize and adapt the software, Pricefx empowers businesses to implement pricing strategies that are truly aligned with their unique goals and objectives. 

5. Most Accessible and User-Friendly AI Capabilities

Winner – Pricefx 

With Pricefx, the AI is designed to deal with multi-agent constraints and therefore achieve multiple synchronized pricing objectives to maximize profit. For example, track the impact of applying a 5% price increase on your products in Canada but break it up by region (2% in British Columbia, 3% in Ontario and 7% in Alberta while applying discounts only in Manitoba). Furthermore, in the Pricefx system, you could possibly even break those numbers even further by looking at additional constraints like the assorted sizes and colors of your products. Roll in the newly crafted Generative AI capabilities in terms of product similarity optimization assistance and search function improvements and clearly, Pricefx comes out on top in AI race.

If you wanted to perform the same task in Vendavo, it may require the AI to be tweaked with several time-consuming AI rules-based changes, check-ins with customer support staff and results can become skewed. It has been reported that the Profit Analyzer is not easy to use and can crash at times. 

Subsequently, it is accurate to say that the Pricefx AI allows for faster work, greater accuracy, and more transparency in price decision-making than the single agent Vendavo AI. 

What that means is that when using the AI power of Pricefx system, your salespeople can understand and have a clearer insight as to why prices are what they are.  

It makes the task of enabling your sales team to better negotiate and defend their prices and quotes a much easier one. 

6. Most Comprehensive Coverage of Current and Future Requirements

Winner – Pricefx 

It is potentially like trying to compare apples with oranges, as Pricefx and Vendavo both have great sets of unique tools that solve different pricing problems well, now, and potentially into the future. Let’s go through the unique differences. 

Vendavo has a great ‘nice to have’ feature that Pricefx does not in this category. A nice risk management tool will help you learn from historical pricing behaviors in your transactional data and calculate optimized prices that maximize margin and minimize the risk of losing customers during the sales negotiation process.  

However, overall Pricefx trumps Vendavo with innovations for the future through its inherent native cloud architecture. 

In the pricing software field, Next Gen providers are inherently at the forefront of innovation. Next Gen native-cloud providers like Pricefx can innovate quicker as there is no underlying legacy system creating a ‘technical debt.’ First-Generation pricing software providers like Vendavo (despite cloud-hosting abilities) are in a state of constant catch-up. 

Native cloud-based pricing software allows you to set and manage prices in real-time, with AI-informed optimization that gives you the flexibility to adapt your approach to meet changing conditions without getting bogged down by potential technology upgrades.

Pricefx stands out from other pricing software vendors with its exclusive features that address key challenges faced by businesses. These features are designed for immediate use while accommodating future innovative functionalities that many pricing software vendors may only consider as standard in the future.  

One notable feature is the Pricefx rebate management capability enhanced by its partnership with Enable, that is designed to streamline the management of rebates, promotions, and discounts in the quoting process. By accurately defining, managing, simulating, and calculating distinct types of rebates, discounts, and bonuses, businesses can significantly reduce downtime and focus more on optimizing prices, ensuring timely delivery of rebates to clients. It is notable that Vendavo acquired Market Medium to fill this rebates gap, however, we are yet to see G2 reviewers pass comment on its functionality. 

The Pricefx Deal Planning module is a tool for managing complex large and Pricefx long-term business negotiations in a structured and well-organized way.   

Another standout feature of Pricefx is the Sales Compensation function, which provides valuable insights for salespeople and offers a clear indicator of how an organization can drive revenue growth.  

The compensation plan is specifically built to incentivize desired selling behaviors, such as adhering to guidelines, closing larger deals, or increasing the number of deals closed based on individual and organizational goals. By aligning pricing and sales teams through the sole source of truth provided by Pricefx Sales Compensation, businesses can foster collaboration and work together to achieve their unique set of business objectives. 

Moreover, PricefxPlasma® offers industry-level benchmarking for B2B enterprise companies, enabling pricing teams to compare their quote processing time and other industry-relevant key performance indicators (KPIs) against competitors in their specific market. This valuable data empowers businesses to identify areas for improvement, optimize their operations, and stay competitive in the market.

7. Best Solution for My Industry

Tie – Vendavo/Pricefx – Contingent on your company’s industry sector 

The ultimate answer will naturally depend on your specific industry. 

As a result, the industry specialties for both Vendavo and Pricefx may help you to decide. 

Vendavo are known as B2B (business-to-business) specialists with special emphasis on the process, chemical and industrial manufacturing industries.  

Pricefx specialize on their recognized ‘Big 4’ key vertical industry sectors: 

• Discrete Manufacturing – Pricefx gives your business the functionality to react instantly to changing market conditions, managing price fluctuations and market erosion 
• Chemical and Process Industry – With the Rebate Manager functionality, Pricefx empowers your chemical business become more efficient and profitable by creating rebate performance visibility 
• Distribution – Managing Cost Change Challenges by improving inventory management, streamlining operations and more. 
• Food and Beverage – Bespoke pricing strategy creation. 

Pricefx Alternatives – How to Choose the Best Software for You 

Now you have the lowdown on Pricefx vs Vendavo, you have all the information to plan to select the best pricing software for your needs.  

Vendavo might be best for you if you are on the lookout for a first-generation legacy pricing tool with more than 20 years’ experience, and you are under-resourced and looking for an outside company to set your pricing strategies and apply them for you. 

Alternatively, if you are looking for a more overall price management tool driven by real-world AI capable of multi-agent price decision-making and be self-sufficient in its use with a proven faster time to ROI, then Pricefx is your better option of these two choices. 

Pricefx and Vendavo both fit any number of business cultures and are exceptionally reliable software experiencing little down time. Both are great options; however, it is understandable if you are yet to make up your mind.  

At Pricefx, we have spent more than a decade listening to different organizations on how difficult it can be to decide on a pricing software package. If your organization remains unsure on what is the best pricing software choice for you, then check out this handy article:

However, if you have already completed your pricing software homework and established that Pricefx suits your company’s needs, talk to one of our experts today.