Integrating your pricing into your current business systems comes with lots of questions. Here are all the answers to those questions on how Pricefx integrates natively into your SAP Software to centralize and streamline your pricing globally.
What is Optimized Dynamic Pricing?
Our Optimized Dynamic Pricing solution enables SAP customers to fully realize the power of pricing. It integrates with pricing conditions stored in SAP® solutions, providing you with greater flexibility and pricing power. Integrated artificial intelligence (AI) and machine learning technologies enable you to test the impact of future pricing changes based on your data before you implement them. By making insight-driven pricing decisions, you can improve your company’s competitive edge without sacrificing profit margins.
How does Pricefx's technology work with SAP?
Pricefx harnesses the power of the cloud to connect and ingest both internal (product, customer, transaction, costing, inventory) and external (commodity indexes, competitive, weather) data sources to optimize market-specific pricing strategies. We use sophisticated pricing logic within each strategy against those data sources and provide prescriptive margin guidance with our proprietary AI and machine learning technology. This drives intelligent price points across every market channel and platform to support list prices, the configure-price-quote process, rebate agreements, Web prices, electronic price tags, and more.
How does the Pricefx platform integrate with SAP solutions?
The Pricefx platform integrates with many SAP offerings (including the SAP ERP application, SAP S/4HANA®, and the SAP Customer Experience portfolio) using standard, prebuilt connectors. Our SAP endorsed app, Optimized Dynamic Pricing, integrates natively with SAP Commerce Cloud and has been tested and proven as more than 50% of Pricefx customers run on SAP.
What is the implementation timeline?
Optimized Dynamic Pricing offers a new commercial approach that addresses the challenges many business executives have when selecting a SaaS offering: high up-front investments and a long implementation cycle. This rapid, zero-risk implementation approach can get you started in as little as six weeks depending on your business needs, leading to faster time to value and lower total cost of ownership.
What IT resources are needed to implement Optimized Dynamic Pricing?
As a 100% cloud-native solution configured in the user interface (UI), Optimized Dynamic Pricing requires no IT involvement for configuration or use. All you need is a modern browser and an Internet connection. To automate the integration of the Pricefx platform with your ERP and CRM systems, IT is involved to provide the master data for analytics and to establish the interfaces from Pricefx to downstream systems that consume price records.
What types of businesses can benefit from Optimized Dynamic Pricing?
The solution is ideal for businesses that have tens of thousands of price points and need to calculate prices and discounting thresholds dynamically based on various components. It enables these businesses to increase the velocity and automation of price changes across thousands of products by using AI and machine learning to fix suboptimal pricing practices identified in historical deals. Businesses benefit by centralizing control over price management that’s distributed across operations and regions involving numerous countries and currencies.
Is there a difference between Cloud-native and Cloud-hosted/based?
Not everything advertised as “cloud software” is actually that. In fact, a recent trend in pricing software is to “clone” a legacy software into a “cloud” hosting environment and call it a Cloud Solution. In reality, these products do little more than they did before the hosting change – and buyers need toask the rightquestions to make sure they are actually getting what they're being told they are buying. Discover what this means by clicking here.
We Can Put You on the Right Path
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SAP Endorsed Pricing
Pricefx is an end-to-end, cloud-native platform supporting the entire pricing journey, from setting optimal prices and managing the rebate process to maximizing your organization’s pricing power.
In addition to strong open platform integration capabilities, Pricefx comes with a pre-built, certified integration with SAP software thus simplifying everyday use to further enhance the customer experience.
The Impact of Optimal Pricing
The quickest way to maximize profits and unlock margin growth is by getting pricing right. Even small improvements in price, even if volumes remain unchanged, can significantly boost operating profit. While effective price management and execution are fundamental drivers of high-performing companies, most firms sorely need to optimize pricing.
Gain a 360 Degree View into All Profit Drivers
Gain a complete view of profitability that enables you to prescriptively identify margin leakage and take corrective actions immediately.
Achieve Multiple Objectives with Next-Gen AI
Employ multiagent AI to forecast the impact of pricing changes before you implement them to identify the best strategy to achieve multiple organizational objectives at once.
Pull-in Pricing Inputs from Multiple Sources
Pricefx quickly and easily combines multiple data sources, rules and price outputs into a simple interface, freeing you from slow, error-prone manual processes or siloed systems.
Realize the Benefits of Optimal Pricing
A transparent approach to pricing enabling you to analyze your data, uncover profit drivers, and turn them into effective pricing strategies across your value chain.
Increase business agility to respond faster to changing markets. Imagine being able to “listen and adapt” to changing business conditions, execute pricing and rebate strategies across channels, and dynamically adjust them to maximize profits and capture them on the fly.
Reduce effort and risk across your organization by automating manual, error-prone processes, freeing up your employees from operational tasks to focus on more strategic pricing initiatives.
Accelerate profitable growth so you can shift more focus to the market, including activities such as analyzing buying habits, fine tuning customer segmentations and quickly responding to market changes that influence cost and margin.
It’s time for your company to embark on a digital transformation.
Here are a few resources that will help guide you on your road to pricing excellence with Pricefx & SAP.