Pricefx, the global leader in cloud-native pricing software, today announced it has released the Bee’s Knees 10.0 version of its pricing platform. The new version includes Optian-powered Price List Impact Simulation that assesses the business impact of price list updates, while involving all elements of the price waterfall in the related simulation. Pricefx is bringing Optian to market as an overarching name for all current and new Pricefx optimization capabilities that help companies drive profit and other KPIs through price optimization for various business situations.
Ideal for both B2B and B2C businesses, Optian builds a simulation for a specific price list, calculates the impact on business KPIs, and creates a visual comparison of a simulated scenario with status quo. In addition to the new simulation capabilities, Optian covers five optimization business use cases which are available now, with additional ones planned.
- Negotiation guidance allows companies to make better pricing decisions for every product on every deal.
- Product recommendations suggest the optimal product mix effectively to maximize customer value.
- List price optimization improves price communication to the market by assessing all relevant market dynamics and segmenting customers more effectively.
- Shelf price optimization suggests the price points with the highest probability to transact in a non-negotiated scenario.
- Price waterfall optimization simultaneously optimizes list prices, discounts and invoice prices.
With full productization of the initial Optian use cases and availability through Pricefx Accelerators, users can expect a quick time-to-value. In addition to productized use cases, Pricefx also enables delivery of custom optimization use cases, such as price point guidance, product mix optimization, or markdown optimization. The flexibility of Pricefx’s AI-powered pricing platform allows users to apply third-party pricing science for additional use cases, such as rebates optimization or retail/trade promotion optimization.
“Businesses are entering into 2023 with some headwinds, such as inflation, market volatility, and supply chain challenges, but there are steps that can help them better weather the storm, driving more revenue and accelerating profit growth,” said Billy Graham, Chief Product Officer for Pricefx. “Companies who invest in price optimization will be ahead of the game and be better equipped to seize market share and profits. This latest release extends our leadership position in pricing optimization, allowing businesses to optimize their pricing in highly efficient and innovative ways.”
Part of the Bee’s Knees release, Pricefx will also be pre-releasing Visual Configuration which extends the capabilities of the Price Setting Accelerator. The first use case allows users to visually design and configure basic and advanced pricing strategies with a drag-and-drop editor.
The release will also include a new flexible Calculation Grid that enables users to efficiently mass process data related to supplier costs, promotions, products, customers and more within Pricefx. Calculation-intensive operations are performed efficiently and in a user-friendly way. Processed data is then made available for further use within Pricefx or to external systems.
A new Promotion Calendar allows users to manage and view upcoming promotions, markdowns, and rebates in a single view. Pricefx users can visually see overlaps and gaps quickly to more effectively leverage promotion spend while driving better ROI. The new release will also include new functions and enhancements that can be used across most of Pricefx’s existing capabilities, such as enhanced notifications and contextual actions.
“With all of the features in this release, Pricefx has again raised the bar for innovation in the pricing industry,” added Graham. “No other vendor solves more use cases within a single platform and with so few clicks.”
The Bee’s Knees 10.0 release and Optian are available now and more information can be found on our blog: https://www.pricefx.com/learning-center/ai-in-pricing-software-why-theyre-not-all-the-same/
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About Pricefx
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. Based on cloud-native architecture, Pricefx delivers a complete price optimization and management platform that provides the industry’s fastest time-to-value and lowest total cost of ownership. Its award-winning innovative solution works for 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. For enterprises facing pricing challenges, Pricefx is the cloud pricing optimization, management, and CPQ platform to dynamically Plan, Price and Profit. For more information, please visit www.pricefx.com.
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