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Category: General News

Thank You to Price f(x) Customers for a Successful First Quarter



Key Takeaways:

  • Pricefx ended Q1 by gaining 10 more customers globally
  • Our customers’ support and trust in our vision of a fast, flexible and customer-centric solution is a reason why we have continued to grow
  • We release a timeline of some of our customers’ quotes and opinions of us throughout the year

If you have been following us for a while, you will have seen that we closed our series B round of investments at the end of last year and had our most successful year to date. Thankfully, our upward momentum has continued by closing Q1 successfully with a growth that cannot be seen in other pricing companies. In numbers this means:

  • 10 new clients
  • 30 new employees globally
  • Grow our US presence with plans to add 25 new employees
  • Expand our Chicago offices located at 150 Northside Plaza, a best urban habitat winner

Although these numbers are exciting, and they really are, we believe its people that allow any of our growth to be possible.

Our Customers Allow Us to Be Successful

When the idea of a pricing solution was brought up Martin’s (CPO and co-founder) kitchen on a rudimentary sketch on a napkin, one of the cornerstones of this new solution would be that it would be fair and serve the needs of the customer. As a result, we think that our customer-centric approach from day one has led to the great relationships we have fostered with our clients.

What follows is a brief walk down memory lane. With their permission, here are some of the reasons that our customers continue to put their trust in us:

2012 Customers and Quotes

With any start-up, finding the first customers that will support you can seem like an uphill battle. For a start-up that was providing pricing solutions, one of the key processes for any business, we appreciate Ineos Solution and Karcher’s trust in us.

“In the process of implementing a tool like this, you will always encounter difficulties. You will find something you didn’t think of in the beginning and then you need customized solutions. Price f(x) was very fast in helping us overcome these little difficulties and bring us customized solutions to problems we encountered during the implementation.”-  Ineos Solution

“Price f(x) knows very well what we need, how we approach our customers and our subsidiaries. This is very important for us that they know what we want and we have to sometimes be very, very quick.” – Karcher

2013 Customer and Quotes

It seems that the theme of 2013 was fun. But who are we kidding, it’s always been fun. Thankfully, this attitude in conjunction with a willingness to go the extra mile, translated in to more customers and a growing reputation within the pricing company.

“Those guys come and bring fun, bring light, bring inspiration.” – Media Markt.

“I still remember the time we had the pitch with Price f(x) and the others. It was very refreshing to see these people full of energy. They had fun explaining their ideas.”  – Saturn Online

2014 Customer and Quotes

“There is nothing out of reach that they couldn’t do, even though you could see pains on their faces. What we were asking for was kind of difficult.  They always found a way to get it done.  There was never an ‘I can’t do that’ or ‘we can’t do that’. It was always trying to find a way to get it done. It was very refreshing to work with them to find a way to get through a very antiquated system that we worked with to bring us through the 21st century of pricing models.” – Dana Corporation

2015 Customer and Quotes

“Price f(x) is not an option anymore but a necessity given its flexibility. We implemented in 40 different countries in an 8-month time frame..  The easy-to-use interface and speed of quoting allowed John Crane to gain 100% adoption with all 700 reps across the globe.” ​- John Crane

2016 Customer and Quotes

As 2016 rolled on, what we appreciated about our customers’ challenges, challenged us to continue with a fun spirit and a passion to work for the good of our customers.

“Price f(x) has been partnering with Solenis for close to a year. Change management, particularly with the customer pricing process, is always a challenge for companies. The Price f(x) leadership, development and engineering teams have always been available to provide Solenis with the best customer solution in a timely manner.” – Solenis.

“We are facing more and more challenges for our spare parts business from our markets. Price f(x) helps us, as we say internally ‘have the good feeling of doing the right thing and not only managing the software’.” – Vaillant

2017 and on Customer and Quotes

Our story is not over and as we continue to help companies of all sizes, reach their goals of having pricing software that is fast, customer-centric, fair and flexible.

“We liked PFX a lot, like really a lot. They were very flexible. We needed to get a solution in place that was easy to use by sales and where they can easily get the information for the quote.  When they do a quote, they enter the product, they enter the customer and they push a button.” – EagleBurgmann

“We have decided to switch from a first-generation price optimization provider to Price f(x) in 2018 because of its flexibility, responsiveness and implementation speed.” – Owens-Illinois

“With Price f(x) we have significantly improved the accuracy on tracking of prices, margins and costs, so you can see the impact of Price f(x) on our business.  You can also measure business results.  It’s just effortless where we have Price f(x) installed.” – Sonoco

But as with any great company, we could not have done this without our committed employees. The ones that have been with us from the very beginning and that joined recently, to all of you, Thank You!!!

Your dedication, support, trust and hard work has shown with all of you who support us, we will continue to provide a solution that set out to do what we said it would do from the very beginning: be fast, customer-centric, fair and flexible.

RS Components & Price f(x) – A Project Launch for Pricing Process History

Ever wanted to know what a dream pricing project kick-off looks like? Look no further than the recent project launch that we had with RS Components. And what a launch it was – cake, good cheer and excited anticipation for what our products can do to automate their pricing processes.

Pricef(x) is live at RS Components

The goal was to fully automate their pricing processes from an off-line Excel based solution to an integrated Price f(x) system. This meant using PriceBuilder to efficiently model RS Component’s different strategies across the several categories, technologies, brands, and markets worldwide. This would help to strengthen RS Components’ pricing capabilities both in terms of price setting and price analysis.

The strategies make use of various internal and external data sources and before any actual price changes are made, they can be modeled, and their impact simulated. After approval, the prices go downstream to ERP and E-commerce systems after which they loop back into Price f(x) on the executed transactions that can be analyzed using the PriceAnalyzer module. The impact of this is monumental for companies with several variables to take into account because decisions can be made in a timely manner.

So, what was one of the reasons that RS Components chose us to begin with? Price f(x), “is a young dynamic company not just somebody who had a stayed product which needed updating”, said Gary Malpas,
Commercial Analytics Manager, and the project’s business owner. Thank you to the RS Components teams. We could not be happier to have had such a successful launch and are excited to see great results.

If you would like to find out how Price f(x) can help you automate your pricing process, contact us here.

Price f(x) at PPS Amsterdam 2018

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Are you ready to shake up your pricing? Then stop by the Price f(x) booth at the Professional Pricing Society conference on November 28-30, 2018 in beautiful Amsterdam.

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Sales and the shrinking lifespan of a sales opportunity – by Garth Hoff

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I’ve heard sales reps for years say things like, “time kills deals;” sometimes just noted as TKD. There is an obsession with being the first into an opportunity, the last to present, and of course the fastest to respond to any proposal.
The short life of sales leads is where we enter into the pricing conversation here on speed.

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Price f(x) Dynamic Pricing Solution Now SAP® Certified

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Optimized Dynamic Pricing by Price f(x) is a tailored SaaS solution to respond to the ever growing need for businesses to react faster to changing market conditions. The solution, which is integrated with SAP Commerce Cloud, calculates prices in real-time based on predefined set of business rules and modern price optimization algorithms using machine learning techniques. Optimized Dynamic Pricing will enable you to achieve and maintain pricing excellence through dynamic, relevant price changes. Actively monitor price changes, market reactions, and revenue, margin, and volume improvements using powerful analytics capabilities. The solution can work with multiple backend systems, terabytes of data, millions of transactions and historical price points and will enable you with better and improved customer and product segmentation.

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New release of Price f(x) QuoteConfigurator App for Salesforce and Price f(x) PromotionManager App for Salesforce – Unity v1.32 Kamenice

We are happy to announce a new release of Price f(x) QuoteConfigurator and PromotionManager App for Salesforce, MDS and C4C – Unity v1.32 Kamenice.
We’ve added a new dialog for user preferences management from the Quote Detail page. It provides more details about the available preferences and also allows you to choose which of them will be your default one. Obsolete preferences can be deleted and users with the appropriate rights can also set global preferences. We’ve also improved pagination of the Quotes and Contracts listing and removed one extra need to scroll
Among other features and enhancements, you will find a breadcrumb navigation on the Quote or Contract Detail page or detailed release and backend information on the Configuration page, which will make troubleshooting a little easier. For a complete list of new features and bug fixes, please see the release notes.

New release of Price f(x) QuoteConfigurator App for Salesforce and Price f(x) PromotionManager App for Salesforce – Unity v1.31 Jihlava

We are happy to announce a new release of Price f(x) QuoteConfigurator App for Salesforce and Price f(x) PromotionManager App for Salesforce – Unity v1.31 Jihlava.

The main features of this release include the possibility to import a list of products from a spreadsheet to a quote or a collapsible and configurable header with detailed information about the quote/contract, which is available on all tabs.

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Part 3: Prevention- by Gabe Smith

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So how can you prevent the Truck and the tree?
As with most issues in the corporate world, there are 3 factors involved: People, Processes and Systems. They all work together to enable resolve problems. Let’s discuss both the Truck and the Tree in light of people, processes and systems.

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