PricefxPlasma is a pricing insights tool that allows you to gauge yourself against industry standards. Plasma usestransaction and quoting data from more than 100 companies across10+ industries. The result isa series of dashboardswith multiple pricing performance metrics that are designed to answer your company’s top of mind pricing analytics questions.
PricefxPlasma By the Numbers
Increase in Industry Insights
Benefits of Having Pricing Insights
An easy-to-use solution that helps you to understand the impact of your pricing strategy in a few simple clicks.
Leverage over 20 metrics to gain insights and compare them to others in the same industry.
Identify Market Trends
Use the metrics to identify market trends and make decisions to benefit your organization.
Assess opportunities for improvement that can be used to inform your strategy and improve pricing processes.
Optimize Your Pricing Strategy
Use KPIs to build your strategy in alignmentwith your overarching business requirements.
Combine with Analytics
Combine the data available from PricefxPlasma with ourpricing analytics solution andfurther enhance your insights.
With Plasma you can get access to more than 20 benchmark metrics that are organized into 4 sets of charts. Each metric and chart help organizations better understand the effectiveness of their pricing strategy against company goals.
The 4 Sets of Pricefx Plasma Charts
What They Do
Consolidates some of the most important KPIs that are also available on other charts such as deal velocity for deals needing approval, percentage of deals outside guidelines and more.
Based on transactional data and provides insights into pricing business structure and includes insights like percentage of products to accounts to reach revenue, number of products trailing 12 months (TTM) and more.
Also based on transactional data but provides insights into pricing processes andexecution. Itincludes metrics such as TTM number of list price increases, number of products, price increase realization waterfall and more.
Based on quoting data and provides insights into pricing strategy and deal process performance. It includes KPIs such as average deal size, average number of steps in approval process, percentage of deal needing approvals and more.
Plasma Benchmarks and What to Do With Them
While not a comprehensive list of the metrics available to PricefxPlasma users, this short compilation gives you a taste of how the benchmark results can augment your pricing in ways you never thought possible.
Percentage of Deals
Percentage of Accounts
Deal Velocity for All Deals
The deal velocity dashboard visualizes the average number of days elapsed between the deal creation date and the submitted date.
As a metric, deal velocityenables you to measure theeffectiveness of your processescompared to industry standards so that your deals move faster through the pipeline.
Visualize areas to be addressed in optimizing deal quote creation and finalization.
Percentage of Deals Outside Discount Guidelines
With this metric, you can identify the percentage of deals that your company is undertaking outside of discount guidelines.
Track that your salespeople are following your pricing guidance and remain within the suggested pricing corridor.
Identify that your sales team is not discounting as a way of securing their deals and are leveraging your chosen strategy.
Percentage of Accounts with Negative Margins
This dashboard displays the revenue share generated by customer accounts that have a negative gross margin over a specific period.
Discover that you are not losing money on any of your deals with specific customers.
Ensure you do not slip into the negative margin deals, watch your discounts and promotions wisely and advise your salespeople to stick within their data-informed 'sales corridors’ and not dive into discounting to secure sales.
This metric lets you know how much your business is generating from your products or services.
See how and where your company sits against other businesses across industries, or where your company sits against other companies in your specific industry sector.
A total revenue formula helps your business decide whether to raise their prices or offer a discount on their goods or set an alternative strategy.
The Comparison Waterfall Chart displays 2 data sets side by side: KPI Data and Company data, presented as a percentage.
Compare the structure of price-build outs to determine if you want to invest in on-invoice discounts, off-invoice discounts and more.
The comparison waterfall enablesyou to gauge KPIs against other companies in order to identify best pricing practices and profit leakage deriving levers of improvements.
Plasma is included in the subscription fee for Pricefx customers if your subscription includes the Pricefx Price and/or PricefxProfit package.
Are my competitors able to see my own performance or any other data?
Industry benchmarks are always compiled from aggregated metrics with a minimum of 5 anonymized entities.
Competitors cannot extrapolate your performance and due to a double-blind process, there is no way a competitor could see your data.
In addition, the benchmarks are made available with a 3-month delay, fast enough to allow for relevant analysis but sufficiently disconnected from current market status.
How secure is Plasma?
The customer's data is anonymized by Pricefx via a double-blinding - an automated process that removes customer identifiers to ensure that it is impossible to trace individual customer data even if someone has access to the complete benchmarking database.
Through the double-blinding process, no one outside Pricefx has visibility to unique customer identifiers.
Will I be able to see all of the charts even if I only use one package?
Yes, as long as you have Price and/or Profit, you will be able to see all of the charts and dashboards.
How much does Plasma cost?
If your subscription includes the Pricefx Price and/or Pricefx Profit package you can have access to the tool. The average cost of pricing software ranges from $200,000 to over $3.5 million,learn more about how much pricing software costs here.
Pricing Benchmarks Are Within Reach
Are you ready to go live with the industry’s leading pricing optimization tool kit? We’re ready too!
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