Actionable insights, visual configuration and enhanced optimization use cases enable companies to proactively manage pricing efforts and take action faster than ever before
Pricefx, the global leader in cloud-native pricing software, today announced it has released the Paper Plane 11.0 version of its pricing platform. Based on customer feedback, the new version offers advanced functionality, including improved optimization use cases, actionable insights that identify business opportunities and risks, and visual configuration to design price strategies and approval workflows without coding. As a result, businesses can proactively manage and take action to drive revenue faster than ever before.
With actionable insights capabilities, businesses can continuously identify gaps and opportunities with smart data-driven automation, and then choose the optimal course of action. Leveraging any data mart data or optimization outputs, users can set up pattern detections based on any threshold, time period or segment comparison. For example, businesses can use actionable insights to detect churn risk, margin opportunity and low-margin deals. Immediate, click-driven actions are integrated to Pricefx Plan package analytics, providing proactive business opportunity and risk detection capabilities with relevant contextual actions to follow up on the specific situation within the app.
Leveraging AI technology, Pricefx Optian has been expanded with new and enhanced optimization use cases. These productized business-relevant use cases are easily deployable using Pricefx Accelerators and speed up value realization.
- Product recommendations evaluate historic purchases, similar products and products frequently purchased together to speed up the quoting process. It offers the optimal product mix to the sales team to effectively maximize customer value, increase deal value and improve conversion rates.
- Shelf price optimization targets retailers with a need to provide optimal shelf prices specific for territory or channel while allowing priority setting for revenue or profit maximization to achieve company objectives.
- Markdown optimization manages inventory levels of targeted products to balance revenue and profitability goals while reducing warehousing costs. It identifies slow moving, perishable, and end-of-season products and implements discounts to increase sales and reduce stock.
- Negotiation guidance uses data to deliver price guidance to the sales team on every deal in quoting for every situation including segmentation powered by automated attribute suggestions.
“Customers are looking to increase their use of AI-driven optimization in order to meet business objectives. In response, we’ve improved our pricing platform to deliver more value to customers, faster,” said Billy Graham, Chief Product Officer for Pricefx. “We continue to lead the industry for rapid activation and time to value with productized innovation built on real world business applications. Companies who invest in price optimization with actionable insights are better equipped to meet revenue and profit goals.”
As part of the Paper Plane release, Pricefx is releasing Price Strategy Designer and Workflow Designer which enables users to visually configure the best price strategy and approval workflows for their business. Pricefx’s Visual Configuration adds simplified configuration options across various functionalities and extends the capabilities of Pricefx Accelerators. Users can design and configure with drag-and-drop elements and let the software generate the code.
This release includes enhanced Integration with SAP S/4HANA through SAP BTP Integration Suite. It also offers an iFrame-based API to integrate with CRM and other third party applications. The Paper Plane 11.0 release is available now and more information can be found at https://www.pricefx.com/paperplane/.
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