The Best Things That B2B Can Learn from B2C: Getting Digital

June 22nd, 2022 (Updated 06/23/2022)

Jochen Schmidt
Manager of Solution Strategy EMEA at Pricefx

The Best Things That B2B Can Learn from B2C: Getting Digital  It is no secret that the global pandemic expedited the shift from in-store sales to online shopping in the B2C environment. What is less well known is that the shift is becoming increasingly apparent in B2B sales. If you’re still working exclusively with sales reps and not offering your B2B customers an online channel for their purchases, you’re already behind the latest trends. Sales tactics may be slow to adapt, however, preferences, behaviors, preferences and expectations of B2B customers are changing rapidly. McKinsey reports that 65% of B2B companies...

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Important Pricing KPIs: What Are They & How Are They Measured?

June 17th, 2022 (Updated 06/20/2022)

Hartwig Huemer
Value Ambassador in Revenue at Pricefx

Important Pricing KPIs: What Are They & How Are They Measured?  It’s easy enough to describe what a Key Performance Indicator (KPI) is, right? Sure, and 99 out of 100 of you would be right in saying that a KPI is a measure that indicates how on course or how well you are tracking towards you are a goal or an objective that you seeking to achieve in either your personal or business lives. But are you as right as you could be with this definition? It might be a shock to learn that definition is just one half of...

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Why You Need Pricing Software – Building A Business Case 

June 2nd, 2022 (Updated 06/06/2022)

Hartwig Huemer
Value Ambassador in Revenue at Pricefx

Why You Need Pricing Software – Building A Business Case The question of whether to purchase a pricing solution is a difficult one. Do you really need pricing software? Can’t you do without it? And if you’ve decided that pricing software is a need and not a nice to have, you’ll have to convince others. You might discover that it’s not just other projects that you might have to go up against but inertia.  At Pricefx, we’ve spent many years helping companies satisfy their need for cloud-native pricing software, by providing a robust, cloud-native pricing solution with which they can...

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What is a Scoping Workshop? (In a Pricing Software Project)

May 30th, 2022

Johnson Kolettu
Senior Project Manager in Customer Solutions at Pricefx

What is a Scoping Workshop? (In a Pricing Software Project) Whether you’re tuning up for your company’s first-ever pricing software project or you have already launched several of them in staged expansions to your existing pricing functionality, you almost always begin with the same question. What is the best approach to cover all the aspects of the pricing software planning and preparation for the project? To align people with your vision, brainstorm new ideas, make sure you have all your pricing ducks in a row and finalize your methodology with a clear plan to start, go for a scoping workshop...

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How Does AI Work in Pricing Software? – Made Simple

May 27th, 2022

Sylvain Rougemaille
Senior Product Manager at Pricefx

How Does AI Work in Pricing Software? – Made Simple It is no secret that these days your data can lead to Artificial Intelligence (AI) powered algorithms helping companies just like yours price items based on price optimization, competitor pricing, inventory levels, and customer response to sales promotions. Using AI-informed pricing software can help grow profit margins, develop loyalty from price-conscious customers, and eliminate the hard manual work and take away mystery of setting prices. But what is more of a mystery is simply explaining exactly how AI works in pricing software – which is what we will do in...

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Food & Beverage Pricing Strategy: Tips, Types & Examples

May 25th, 2022

John Gilbo
Account Executive at Pricefx

Food & Beverage Pricing Strategy: Tips, Types & Examples Food and beverage manufacturers have watched in horror over the last 2 years while your input prices have skyrocketed and placed pressure on already constrained margins. What’s more, it is not exclusively food and beverage ingredient prices that are swollen to record levels. Record fuel prices and labor shortages are also an enormous part of the margin compression puzzle. Roll in other factors into the pricing equation like meat prices undergoing rapid rises as the cost for grain to feed animals climbs, and beverage makers are facing a jump in packaging...

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Dynamic Pricing Strategy – Tips & Examples + Pros & Cons

May 16th, 2022

Ken Edwards
Marketing Specialist at Pricefx

Dynamic Pricing Strategy – Tips & Examples + Pros & Cons When your customers visit your bricks-and-mortar or online store to purchase one of your products, most of the time they will want to know the exact prices of your products beforehand. However, if you are providing services like that of doctors, lawyers, accountants, plumbers, or electricians, setting an exact price is not a simple task. Prices vary because of multiple factors, like time, length and complexity of the service provided. That is a form of dynamic pricing and it certain cases it can be used for pricing your products...

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Retail Pricing Strategies: Tips, Types & Examples

May 12th, 2022

Jochen Schmidt
Manager of Solution Strategy EMEA at Pricefx

Retail Pricing Strategies: Tips, Types & Examples Over the last few years, a myriad of reasons have popped up increasing the rate of change of what we used to call ‘normal’ in the retail industry. Whether it is due to CoVID-19, rampant inflation, increasing fuel and distribution costs or an increasing drift to online shopping, shifting consumer buying patterns means it is now more important than ever to consider your retail industry pricing strategies.   At Pricefx, we have been analyzing retail sales data and setting automated pricing processes for our retail clients for more than 10 years now and assisting...

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How to Implement a Pricing Strategy: A Guide

April 22nd, 2022

Idrissa Diop
Solution Strategist at Pricefx

How to Implement a Pricing Strategy: A Guide  How you set your prices and the strategy behind your price setting can have a range of implications for your business. For example, did you know that not every price you set needs to maximize your profit margins? Nor is every price on your products required to increase your sales volume. It could be you mix and match either of those two pricing strategies on different goods across your product line. And what’s more, you might even implement different strategies again on more of your products – and it could all be...

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Empower your sales team during negotiations

March 21st, 2022 (Updated 03/28/2022)

Milan Haba
Senior Manager | Product Marketing at Pricefx

Empower your sales team during negotiations B2B markets have become increasingly complex. In the past, setting accurate pricing for a few products could be accomplished using a spreadsheet. But what happens when you have thousands of SKUs, geographies, industries, and customer segments? Without the right price, you can expose your business to serious margin leakage. The risk will increase with a need to build pricing for individual deals. In such a case, you cannot simply rely on predefined list prices but you have to reflect on your relationship with a customer and its specific situation to make your prices relevant....

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The Benefits of Flexible, Simple and Transparent Pricing Software Part 02

March 8th, 2022

Gabriel Smith
Chief Evangelist at Pricefx

The Benefits of Flexible, Simple and Transparent Pricing Software Part 02 Flexible, Simple and Transparent Pricing Software is becoming essential to enabling profit growth in today’s modern business world. What’s more, pricing can assist you through the negotiation process and add transparency and simplicity to your pricing procedures. Join Gabe Smith from Pricefx and Stephen Haggett Vice President, Pricing, Revenue Management, and Sales Operations at Iron Mountain, as they return for the second part of The Benefits of Flexible, Simple and Transparent Pricing Software. In this episode, they discuss handling large deal negotiations with pricing and overcoming bias in the negotiation process. You’ll also learn about the role...

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Pricefx improves user experience and enhances existing capabilities in its latest major release

January 24th, 2022

Lukas Sirucek
Product Manager at Pricefx

Pricing isn’t an easy task to manage. Pricing efficiently and wisely is even harder. At Pricefx, we want to help pricing experts manage and optimize their prices at scale, in a fast and intuitive way. In order to do that,  we need to continuously improve and develop our solution to meet our customers’ needs. In our latest release Godfather 8.0 (available January 23rd, 2022), we’re significantly improving our user’s experience on the platform, plus we’re introducing new functionalities that will support pricing and sales professionals achieving their objectives. Below are the most important updates coming with the new release: Improved...

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Who is Pricefx and What Do We Do?

December 17th, 2021 (Updated 03/15/2022)

Ken Edwards
Marketing Specialist at Pricefx

Who is Pricefx and What Do We Do?  You have probably seen a video or article in the small and niche world of pricing companies and wondered to yourself, “Who is Pricefx and what do they do?” Could our suite of pricing solutions be the key to your margin erosion, revenue stagnation, or time-saving problems to name a few?   Well, you’ve come to the right place to get an answer to your questions.   Simply put, we’re the leading end-to-end pricing software, native cloud-based, and powered by the latest in Artificial Intelligence (AI) and Machine Learning (ML).   And it’s not just us tooting our own horn; you can find out more from our customers’ success stories and...

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How to Integrate 3rd Party Systems with Pricing Software

December 8th, 2021 (Updated 03/23/2022)

Jochen Schmidt
Manager of Solution Strategy EMEA at Pricefx

How to Integrate 3rd Party Systems with Pricing Software Chances are if you are the Pricing Manager or VP of Sales of a large enterprise company, you are probably suffering from ‘tool fatigue’ from having too many options available to you to track your pricing, customers, logistics, price lists etc.  That’s probably why you have been googling around for the last 45 minutes looking for products that can easily be integrated into what you currently use (for example, will it feed information in my current SAP software?) and create a suitable “Swiss Army Knife – one tool does it all” replacement with a 3rd party...

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How Does SAP Integrate With Pricing Software? Plus How To Get Started

December 1st, 2021 (Updated 06/17/2022)

Jochen Schmidt
Manager of Solution Strategy EMEA at Pricefx

How Does SAP Integrate With Pricing Software? Plus How To Get Started  So, you’ve got your SAP Enterprise Resource Planning (ERP) software running like a dream. Your pricing strategy is taking on a brand-new dimension and efficiency is boosted to the point where you can expand your organization and diversify your client and product base. Then suddenly – Bam! – your business requirements have changed.   You’ve now discovered that you need to automize and track your newly introduced rebates and promotions set-up. What’s more, is that you need to have your finance and CRM (Customer Relationship Management) systems integrated into what will eventually become a one-stop pricing software stop.   First up, congratulations on your business success, but take note and read...

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Flexible

TicketCorner A Visual Case Study in Dynamic Pricing

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

Gabriel Smith
Chief Evangelist at Pricefx

Amazon and other e-commerce and retail companies usually have the market cornered on dynamic pricing. But as weather changes started to affect the skiing industry, TicketCorner found an opportunity to use dynamic pricing to help resorts and ski operators win big with predictable revenue streams. 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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FYI

Why AI Based Dynamic Pricing Solutions for Food & Beverage – Maintaining Profitable Growth in Volatile Market Conditions

June 15th, 2020 (Updated 03/24/2021)

Denken Solutions
Pricing Expert at Denken Solutions

Why AI Based Dynamic Pricing Solutions for Food & Beverage Maintaining Profitable Growth in Volatile Market Conditions Pre-COVID-19 food and beverage manufacturers routinely faced steep challenges managing customer and product profitability exposing problematic reliance on static pricing strategies and practices, further exacerbated by siloed systems that independently manage critical cost components of the price waterfall. These systems lack data intelligence and the ability to respond in real-time to changing market conditions. During COVID-19 many manufacturers are experiencing dramatic shifts in demand to retail products while others are seeing forecasts for away from home or ingredient products plummet. Both situations complicate...

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Fast

How to Get 5X Market Share Increase with Dynamic Pricing  

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

Duncan Hendy

5 X Market Share Increase with Dynamic Pricing   No one’s surprised when the flight they want to book on Christmas eve is four times the price of any other time that year. Disemboweled, perhaps, but not surprised.    Nor are we shocked to find that today’s Amazon prices are not what they were yesterday. Or that swimming costumes are on sale in fall. Or that holidays this year in Hong Kong are cheap.   We’ve become familiar with dynamic  pricing in certain industries. It’s part of the game, right? Book early for cheap seats. Buy when demand is low. The market exerts its force and prices respond. Time of year, weather, demand, news, competition, trends… all affect price.   So why, if dynamic...

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Realize

The Impact Pricing Software Has on Your Company

September 26th, 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 Pricing Solutions Pricing software incorporates most of...

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Friendly

Ticketcorner – Dynamic Pricing Increases Market Share 5X

June 11th, 2019 (Updated 03/23/2021)

Tolu Oke
Content Marketer at Pricefx

By now, you have probably heard about dynamic pricing for e-commerce businesses like Amazon or even the airline industry. But have you ever given much thought to dynamic pricing and how it applies to the skiing industry? In a lot of ways, the skiing industry is prime for dynamic pricing measures because, like the airline industry, prices can vary depending on a mixture of time of purchase and seasonality. Applying dynamic pricing to their industry paid off for Ticketcorner with a 5X increase in market share. For years now, ski resorts have been struggling with unpredictable ticket sales due to...

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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

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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Insight

Lessons in Retail: Amazon’s Speed in Dynamic Pricing Leads to Disruption

May 1st, 2019 (Updated 03/24/2021)

Garth Hoff
Principal Pricing Solution Engineer at Pricefx

Omnichannel and B2B firms cannot afford to be slow in response to consumer demands. One of the ways Amazon disrupts its industry is by using dynamic pricing. Pricefx’s Price Builder and Price Analyzer help users accurately leverage the power of dynamic pricing. Both Meg Whitman of HPE and Mark Benioff of Salesforce.com chose to focus on speed at the 2016 Davos World Economic Forum Digital Transformation of Industries panel. Whitman said, “My view is that the future belongs to the fast,” and Benioff built on this by noting, “Speed is the new currency of business.” These reflections on speed and...

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Friendly

Dynamic Pricing? Yes, You Can!

February 28th, 2019 (Updated 03/23/2021)

Duncan Hendy

Article Breakdown: The future of the pricing industry, the trends that shape it and the latest developments on the market How using AI-driven algorithms to make optimal pricing decisions in real time helps your business increase revenues or profits How access to all your data across all channels and systems combined with powerful AI can drive your pricing decisions Traditionally, when we think of dynamic pricing, we think of large institutions with access to massive amounts of data. Not anymore. Time for you to take a slice of that pie. When Gabriel Smith, VP for Product Strategy at Pricefx, and...

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