Pricefx Reimagines Pricing Software with Groundbreaking Product Enhancements
2.12.2020 17:30:00 EET | Business Wire | Press release
Pricefx, the global leader in cloud-native pricing software, today announced the new face of its pricing platform. Unity UI is a sleek, dynamic new look for all of Pricefx’s industry-leading pricing modules. The company has also launched PriceOptimizer AI, a next-generation price optimization solution powered by transparent and predictive machine learning and multi-agent AI. Finally, Pricefx introduced new Accelerators, pre-defined solution building blocks that quickly and easily incorporate best practice functionality. With these new enhancements, Pricefx is now more streamlined, powerful and agile than ever before. Now, businesses using Pricefx can get more done and price more effectively with fewer clicks.
“2020 revealed the critical importance of pricing in a digital-first world and Pricefx invested heavily in developing and refining our pricing platform to ensure that businesses around the world can successfully use our software to build a path to growth,” said Marcin Cichon, CEO and co-founder at Pricefx. “From the new, modern user interface to the groundbreaking AI-powered price optimizer and the pre-built Accelerators, Pricefx is delivering impressive product functionality to the market. We continue to live our commitment to providing customers fast, flexible and friendly solutions that help them achieve revenue and profit goals faster than ever.”
Unity UI
Pricefx platform modules are now unified in a modern, sleek UI that streamlines the user experience by ensuring that everything is at the user’s fingertips. Pricing workflows are simplified with a single application that works across multiple platforms and devices. To reduce management overhead, Pricefx can be customized for different users and easily incorporated into third-party CRM or ERP applications.
PriceOptimizer AI
With PriceOptimizer AI, Pricefx is introducing the industry’s first price optimization engine powered by multi-agent AI, a powerful approach that uses multiple interacting intelligent agents to arrive at the best outcome. With this breakthrough, PriceOptimizer AI can simulate multiple business objectives at once and simultaneously optimize the entire price waterfall at every level of granularity, from list prices to rebates. This means Pricefx customers can align competing business rules, priorities and constraints, such as price increases, competition or margin targets, resulting in far more realistic pricing strategy.
Additionally, users can evaluate multiple best outcomes even when the model is over constrained. They can model price elasticity to see precisely which constraints are impacting the optimized list price, discount or rebate. Then, users can easily change models, simulate the impact of changes and adjust constraints during run-time. This faster, more flexible approach to price optimization achieves massive time savings, with updates to thousands of prices and sales conditions in just minutes.
In combination with “clear box” segmentation and predictive ML algorithms, PriceOptimizer AI delivers transparent and intuitive price optimization, enabling pricing leaders to confidentially arm sales with deal guidance they can stand behind.
“Although the term ‘artificial intelligence’ can conjure up an image of robots taking over the world, the best use of AI is eliminating robotic work from a process so that people are free to use their experience and judgment to make better decisions more consistently,” observed Robert Kugel, Senior Vice President and Research Director at Ventana Research. “Making decisions about optimal pricing within a set of prioritized objectives, business rules and constraints is an ideal use case for AI provided that the system is fully transparent so individuals can trust the outcome. Increasingly, companies are finding that intelligent pricing enables them to improve both revenues and margins with a sustainable competitive advantage.”
Accelerators
With Pricefx Accelerators, customers can use pre-defined solution building blocks to deploy new modules and functionality even faster, while reducing overall effort and cost. By adding industry best practice functionality, Pricefx customers and partners can quickly and easily configure solutions out of the box, while still retaining customization capabilities. Not only do Accelerators reduce implementation effort and time to value, they also lower the total cost of ownership for the Pricefx platform by making it easier to support and enhance functionality.
Specifically, the new Sales Insights Accelerator delivers rapid insights into profitability, margin leakage and profit outliers. Customers can see how margin and revenue change over time based on factors like customer acquisition and variances in price, as well as quickly find and address outliers by analyzing your best and worst performing customers and products.
Availability
Unity UI, PriceOptimizer AI and Accelerators are generally available now as part of the Vesper release.
About Pricefx
Established in 2011 in Germany, Pricefx is the global leader in SaaS pricing software, offering a comprehensive suite of solutions that are fast to implement, flexible to configure and customize, and friendly to learn and use. Pricefx delivers a complete price optimization and management platform based on native cloud architecture, providing industry leading time to value and total cost of ownership advantages to customers. Their innovative solution works for both B2B and B2C enterprises of any size, in any industry, in any part of the world. Pricefx’s business model is entirely based on the satisfaction and loyalty of its customers. Today, Pricefx delivers Passion for Pricing to more than 100 customers in more than 37 countries worldwide. For more information, please visit www.pricefx.com .
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