Buying Enterprise Pricing Software: Key Documents for Success
Buying Enterprise Pricing Software: Key Documents for Success So, you’ve made the decision that you will be buying enterprise pricing software for your large-scale business. Congratulations on getting onboard with the latest pricing industry trends and business solutions. You have a Procurement Department that usually takes care of such matters. However, as the C-level Manager responsible for driving the implementation of pricing software, you also want to know what is involved for yourself. As you sift through your checklist of what is required to get the software implemented and up-and-running, you have begun to realize there is a set of...
Pricefx improves user experience and enhances existing capabilities in its latest major release
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...
Advantages of Pricefx Optimization & Management Software
Advantages of Pricefx Optimization and Management Software Anyone who is anyone in the world of pricing has probably heard about the surge pricing dilemmas of ride-hailing platforms and some of the pricing miscues that ‘Gig Economy’ companies have made in recent years. Most dramatically, back in 2017, Uber charged a man in Toronto, Canada $14,400 US for a 20-minute ride. Of course, Uber eventually refunded the passenger for his ride, but not until they identified a severe problem with their high demand, rush hour price ‘surge multiplier.’ Operators like Lyft and others have also experienced similar issues, despite spending millions...
How to Integrate Pricefx Pricing Software with Your System
How to Integrate Pricefx Pricing Software with Your System Without integrating pricing software with your ERP (Enterprise Resource Planning), CRM (Customer Relationship Management) or other in-house system, you risk not only losing effectiveness and organization. You’ll also be taking random chances that you are at peril of leaving potential profit at the checkout and leaking profit margin by using unenhanced and outdated pricing methods. Modern AI-based pricing software enables the unification of front and back-office functions and data points through automation of Salesforce, SAP, and other CRMs. The integration efficiencies unlock your data to achieve price optimization and allow you to...
Who is Pricefx and What Do We Do?
Who is Pricefx and What Do We Do? You have probably been 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...
How to Integrate 3rd Party Systems with Pricing Software
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...
How Does SAP Integrate With Pricing Software? Plus How To Get Started
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...
4 Steps to Securing Executive Buy-In on Pricing Software
4 Steps to Securing Executive Buy-In on Pricing Software Large-scale corporate initiatives have a tendency to fail without executive buy-in. We have all experienced the frustrations of attempting to adopt new software in accounting, sales, marketing, or other organizations. Without the support of key players in your organization, be it those who write the checks or those who can muster wide support, you may struggle to get the initiative started, implemented on time and within budget. Or (and we shudder to think) the software gets implemented but the people you bought it for won’t use it. The reality is getting...
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Pricing with Excel… and Other Ways to Lose Money
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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Chemical Industry Numbers to Know
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What’s the Difference? Excel vs. Pricing Software
This handy dandy comparison will guide your understanding of the pros and cons of each of these standard approaches to managing pricing.
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Get Running At Lightning Speed
Get Running at Lightning Speed Pricefx Lightning is your fast track to pricing excellence. Designed to supercharge your implementation, Lightning delivers a full suite of standard pricing analytics, management, and CPQ tools through our exclusive Accelerators. It’s all pre-configured to get you live in just six weeks. Introducing Accelerators Many companies want to leverage pricing best practices that will help them to reach their goals with speed. To provide even more value to our customers and enable faster time-to-value, we have developed standard, out-of-the-box pricing capabilities for our customers – we call these Accelerators. Accelerators encapsulate years of expertise and learnings condensed into a flexible, robust set of standard pre-configurations that allow companies to leapfrog overpricing basics so that they can focus on enabling their pricing competitive advantage in Pricefx. We’re not saying this is the...
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Excel vs Pricing Software: Accelerating Time to Pricing Excellence
Examine the Value Difference Between Excel and Pricing Software All pricing professionals want to be able to initiate a pricing strategy that will result in higher profits, a smooth sales and quoting process, better pricing analytics, automated list price management and all with flexibility, ease, and speed. So, why do so many organizations use excel instead of pricing software? For many pricers, the reason is legacy tools installed decades ago. But this leaves pricers in a state of reactivity without the much-needed bandwidth to be proactive and lead their organization to pricing excellence. Join Idrissa Diop as he shows the...
Fast
How to Get 5X Market Share Increase with Dynamic Pricing
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...
FYI
Smarter, Faster and More Customizable Unity Is About to Change the Way Users Interact with Pricefx
Every day, employees of almost 100 different companies, situated in 37 countries around the world, log into Pricefx to find strategic solutions to their pricing problems. From November 3, 2019, users will be able to locate these solutions more quickly, efficiently, and intuitively thanks to the launch of Manhattan release, Pricefx’s first substantial update since Bramble release. The Manhattan release ushers in a raft of changes that significantly improves the working lives of Pricefx end-users. Improvements have been made across the board to Pricefx Core, Classic UI, and, notably, Unity UI, Pricefx’s most recent, touch-ready user interface. Updates to Pricefx Core and Classic UI come into effect first,...
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The Tale of the Amateur Cash Desk Horror
This story is the fifth part of a series of articles “Horror Stories in Pricing – When Pricing Goes Wrong”. The fourth story can be found here. You can also follow along with an audio version of the story below: https://www.pricefx.com/wp-content/uploads/2019/10/PricingHorror5.mp3 “You are still here?” Eric’s voice penetrates the darkness. His words fall in a deathly clatter like the fingers of a dodgy Eurosceptic MEP typing up their accommodation expenses form for a property they are leasing to themselves. “Yes,” Michael replies. “Tell me more!” Eric leans forward, the light from his laptop illuminating a face so kind, you almost wanted to adopt him right there on the spot – were it not for certain macabre tendencies that other less...
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Six Types of Successful Acquisitions
A common question in the business world is ‘what is the difference between a merger and an acquisition?’ A business acquisition is a complex process that involves a business acquiring another to increase its overall size, take over their client base and, in many cases, their staff. Business acquisitions allow for a business to bolster their strengths and reduce their weaknesses by growing the business in a much shorter timeline than organically possible. A business merger is similar to an acquisition but typically results in a combination of the two businesses rather than an absorption. But what is a successful merger and acquisition and how will they affect your business?...
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What Does Your Department Stand to Gain From Pricing Software?
Knowledge is power. Having the departments of your company know and use the current prices of your product or service allows them to do their jobs better and more efficiently. This results in an overall good feeling that induces confidence and pride toward the current and future prospects for your enterprise. Allowing Pricing Software to Help You to Help Your Company Pricing software is a comprehensive pricing tool that affects the major departments in your business. In a broad sense, raw materials; labor; overhead such as facilities rental, upkeep, and utilities; production costs; advertising; insurance; and the many expenses that owners and...
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11 Key Requirements for Price Optimization Solutions – Constellation ShortList
For years now, we have been hearing about the need for digital transformation from leading consultant firms and specialist alike. Bain, for example, has found that companies wanting to undertake transformation should have four competencies in place: digital strategy, a business model, enablers, and orchestration. Enablers refer to the “current data [and] technology operating model” that will permit a smooth process. Chances are if you made your way to this page, you are also interested in finding the right pricing solution that you can use to harness the power of digital transformation. Pricefx was recently recognized by Constellation Research as...
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How ERP and Pricing Software Can Help Enterprises Like Yours
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 ERP and...
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The Future of Pricing Software is…
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,...