|
Company: Pricefx, Chicago, IL
Nomination Submitted by: Summers PR for Pricefx
Company Description: 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.
Nomination Category: New Product & Service Categories - Business Technology
Nomination Sub Category: Financial Management Solution
 Nomination Title: Pricefx
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the nominated new or new-version product or service, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: If this is a brand-new product, state the date on which it was released. If this is a new version of an existing product, state the date on which the update was released:
Update to Pricefx on April 2021: https://www.businesswire.com/news/home/20210427005108/en/Pricefx-Launches-Industry%E2%80%99s-First-AI-powered-Market-Simulation-for-Price-Optimization
- If you are providing written answers for your submission, you must provide an answer to this second question: Describe the features, functions, and benefits of the nominated product or service (up to 350 words):
Total 332 words used.
In the second year of the pandemic, with major hurdles affecting the market including a broken supply chain, shortages, inflationary pressures, labor challenges and more, companies and organizations across the globe have continued to place value on smart and strategic pricing solutions. Helping clients maneuver through these obstacles, Pricefx has grown its year-over-year subscription revenue by 45% and maintained a 95% customer retention rate in 2021.
Pricefx is a finance management solution that drives profits. With Pricefx, customers can future-proof their financial planning and market position with insightful and measurable analysis based on reliable data. With its powerful set of AI-based business tools, customers can test and validate with long term strategies. Customers can experience an increase of prices by 1% and profitability goes up by up to 11%. They can accurately plan with confidence, discover potential for growth, and hardcode profitability into every decision. By identifying these opportunities in their pricing strategy, customers can uncover possibilities for efficient pricing, unlock profitable revenue growth, reduce margin leakage and minimize overhead and risks.
Key features allow customers to plan proactively and reach strategic financial goals and objectives faster
- Quickly identify and eliminate drags on profit margins
- Use powerful analytics to reveal profit drivers for every transaction, product, salesperson and customer
- Get a single source of truth for net margin, competition and contract pricing
- Manage price lists with ease and execute mass pricing updates across customer segments, product categories or regions
- Provide dynamic pricing guidance (parameters-based repricing, variable price contracts, etc.) and “what-if” simulations before implementing
- Activate and define a fully-transparent pricing strategy based on willingness to pay, seasonality and catchment area
In 2021, Pricefx has signed on 34 new customers and secured 26 new/expansion deals in Q4 alone. A few of those new enterprise customers, include AMAG Group, American Tire Distributors, FIFCO, Bridgestone Americas, Extreme Networks, Mercedes-Benz, and Majestic Steel.The company serves customers in more than 37 countries, which include some of the largest manufacturing, retailing and energy businesses in the world.
- If you are providing written answers for your submission, you must provide an answer to this third question: Outline the market performance, critical reception, and customer satisfaction with the product or service to date. State monetary or unit sales figures to date, if possible, and how they compare to expectations or past performance. Provide links to laudatory product or service reviews. Include some customer testimonials, if applicable (up to 350 words):
Total 333 words used.
See great reviews of Pricefx on G2: https://www.g2.com/products/pricefx/reviews
“Every project has its struggles. But the ability to communicate within and between both teams and act fast resulted in a huge success. Stahl has learned from it. A learning curve is good, this helps our team and company for future projects. And I’m happy that Pricefx also takes these learning points through to the next phase. They take it seriously.” - Perry Sturm, Project Manager, Stahl Holdings
“Pricefx as a pricing software is something pioneering within Danone, and I am proud to be part of this.” Andre Almeida, Senior Pricing Analyst – PRGM, Danone Nutricia Brazil
In seven months, Ascend was able to move its entiring procing process to Pricefx. They experienced an easier to use pricing solution with better guideline pricing, historical pricing, integration with SAP). –Ascend Performance Materials
“Pricefx is almost infinitely customizable. We never know what features our customer will ask for, so having a system that is so flexible is a perfect fit.” – Cox Automotive
“Even in the midst of a pandemic and work-from-home orders, the Price FX Lightning approach delivered functionality that was up and running in less than six weeks. The Waterfall dashboard gives us full visibility into gross-to-net profitability, which is HUGE for our company because we’ve never had it before. Now our business units have information at hand to identify profit leakage and make better business decisions. The Revenue and Margin causality dashboards help us quickly explain the reasons behind changes in period-over-period performance. Previously, our pricing and finance teams spent up to two weeks building the analysis to create Revenue and Margin bridges for executive presentations and summarize causality, so the PriceAnalyzer dashboards provide tremendous time savings for us. During the project, we appreciated the collaborative workstyle of the Pricefx team and their openness and ability to make modifications that better meet the specific needs of our business.” says Laurie Flowers, Director of Pricing PLZ Aeroscience
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
| Attachments/Videos/Links: |
|---|
|
