What’s an Industry Catalog and How Does My Company Benefit?

In any software discovery session, one of the first questions you’ll get from your sales rep will likely focus on your company’s biggest pain points. What if we told you that a tool existed, developed by experts in the field, that streamlined the implementation process by matching those challenges with actionable ways the software solution addresses them? At Pricefx, that tool is the Industry Catalog.

In this article, you’ll learn what an Industry Catalog is, who it’s for, and, most importantly, how your company can expect to benefit from using Industry Catalogs in the implementation phase.

So, let’s dive in!

What’s an Industry Catalog and How Is It Relevant to Me?

Our Industry Catalogs are designed to speed up your Pricefx implementation process – from choosing the most impactful capabilities to configuring and prioritizing features for launch – by offering a menu of common industry challenges and best practices for tackling them efficiently. And by efficiently, we mean profitability and with the shortest time to value (TTV).

So, what’s an Industry Catalog in practice?

Used in implementation, industry Catalogs are standardized resources that contain an extensive overview of the current state of specific industries and serve to bridge industry-specific problems with their recommended value drivers, or capabilities and features, in Pricefx.

 

Industry Catalogs offer Pricefx prospective customers a carefully curated collection of industry-specific cases and how they impact their business, which our experts continuously adapt to cover emerging business priorities and market realities.

 

These use cases reflect the real-world expertise of our customers and industry experts, and have been historically proven to drive the shortest time to value.

In other words, using Industry Catalogs to guide the implementation process is a lot like ordering from a menu in a world-class restaurant – except this time, that menu was designed with your needs in mind.

Here, you won’t need to sift through a thousand options that may or may not suit your tastes. Instead, you’ll find a few great ones, enabling you to place an order with the confidence that whatever comes out of that kitchen will be exactly what you needed.

Which Industries Do Pricefx’s Industry Catalogs Serve?

Currently, Pricefx’s Industry Catalogs cater to companies in the discrete manufacturing, process manufacturing, and distribution industries.

Each industry has its own tailor-made catalog, and with it, a distinct approach to the Pricefx solution, including current problems faced by that industry, relevant use cases for addressing them similar customer case studies, and a recommended implementation roadmap for achieving results quickly.

Who’s Behind the Industry Catalogs?

Solution Strategy is the brains our Industry Catalogs, and for good reason – the team is made up of industry veterans in the very sectors these catalogs cater to.

Solution Strategists are here not only to guide your company through the catalog to arrive at the right choice, but also to collaborate with other Pricefx teams and ensure your vision for the solution is reflected in implementation.

How Does My Company Benefit from Industry Catalogs?

1.     Quick Time to Value for Critical Areas

Using Industry Catalogs to guide your discovery sessions with Pricefx enables to quickly pinpoint the most valuable Pricefx capabilities for your business, and based on this, prioritize these capabilities strategically in implementation.

Once you’ve made your choice, we’ll evaluate the financial return of each capability using our value calculators. The Solution Strategy team, along with support from Account Executives (AEs), manages this in the customer value platform Cuvama, which allows your company to work collaboratively with Pricefx to develop a value case.

Afterwards, we’ll work with you on an optimal implementation roadmap with the most impactful capabilities at the front of the line. This way, your Pricefx solution avoids pre-launch limbo, and your company sees value for critical business areas in record time.

And throughout this process, your feedback for us is invaluable. If new challenges come up, we’re here to listen and take your input into account as we continue to build and refine your value case together.

2.     Quicker and Smarter Configuration

Our Industry Catalogs are designed to drive value for your company quickly, and this extends to how we configure, or modify, your Pricefx solution.

Each industry-specific use case comes with a recommendation for its optimal configuration, which ensures that your solution gets up and running quickly; think of it as a “plug and play” approach for setting up your Pricefx solution.

3.   Seamless Decision-Making with Hand-Picked Use Cases

Many companies, while confident their current pricing solution is no longer sustainable, can struggle to identify value-driving areas to focus on when they come knocking on our door. At this point, they may have made it as far as identifying the problem and pricing software as the solution.

Industry Catalogs alleviate that stress and guesswork by presenting your business with a curated list of use cases that have proven valuable for similar customers in the same industry.

For example, among the many industry-catered use cases outlined in our Industry Catalogues, we can find pricing corridor alignment for products across regions and new product pricing for manufactures, supplier cost management and optimized product recommendations for distributors, and simplifying formula pricing activities and improving cost recovery for process manufacturers, among many others.

4.    Understanding If Pricefx Is Right for You

By laying our cards out on the table in our use case catalogs, your company gets a clear picture right away of how our solution can help and what our cooperation would look like.

After all, our Industry Catalogs showcase how well our solution can address your needs. If, after meeting with us, you find that your vision for a pricing software solution isn’t adequately represented in our catalogs, it’s possible that some of the challenges unique to your business aren’t there (of course, in cases like these, we’d still encourage you to work with Solution Strategy and devise a plan to bridge the gap).

Ultimately, any tool that allows your company to be more discerning, more quickly, in the pricing software discovery process is a win-win; when you come out the other side happy with our offering, we’re happy too.

How Is Pricefx Tailored to Your Industry Needs?

By now, we hope your company can easily recognize not only what Pricefx Industry Catalogs are, but also how they support quicker time to value in the key areas of your business.

Industry Catalogs offer a deep understanding of what makes your industry tick, offering a roadmap to overcome common hurdles and maintain competitiveness. Our solutions are tailor-made to address these challenges head-on. To discover how, check out how Pricefx enhances pricing and sales processes in your industry below:

• How Pricefx Helps for Discrete Manufacturing
• How Pricefx Helps for Distribution
• How Pricefx Helps for Process Manufacturing

Or, need to understand the opportunities available for configuring your Pricefx solution to keep up in your field? You’ll want to head to this article: