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

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customer_success_pricef(x)

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.

New Release of Price f(x) QuoteConfigurator and PromotionManager App for Salesforce, Microsoft Dynamics and SAP C4C – Unity v1.37-Pfaffenhofen



We are happy to announce a new release of Price f(x) QuoteConfigurator and PromotionManager App for Salesforce, Microsoft Dynamics and SAP C4C – Unity v1.37 Pfaffenhofen.

The main feature of this release is the ability to send messages to other users from the Quote or Contract page. On a dedicated Messages tab, you can have a conversation with your colleagues about issues concerning that particular Quotes or Contract. Moreover, all users receive email notifications about new messages.

We are also introducing Quote Types which enable you to quickly create new Quotes based on preselected calculation and workflow logic or the basic functionality of the bar and line, bubble and histogram charts.

There are also many smaller enhancements and usability improvements. For a complete list of new features and bug fixes, please see the release notes.

The new release is ready to be deployed to your environment. Please open a support ticket and we will get back to you to discuss the deployment details.

Price f(x) Adds New Marketing Chief after Accomplishing the Most Successful Year in its History

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  • Patrick Moorhead joins as Chief Marketing Officer from big data startup Label Insight to help the company continue its strong growth, following its doubling in size for three consecutive years
  • The appointment follows a hugely successful 2018 for Price f(x) which included the completion of its second financing round with strategic investment from Digital+ Partners and Bain & Company
  • In 2018, Price f(x) was awarded “Cool Vendor of Digital Commerce” by Gartner®, selected as pricing technology provider to Bain & Company’s “Pricing Navigator” offering and certified as an SAP® AppCenter partner

MUNICH / CHICAGO – February 12th, 2019 Price f(x), the global leader in cloud pricing software, has appointed a new Chief Marketing Officer to build on the most successful year in the company’s history. Patrick Moorhead, who has more than 20 years’ experience in marketing and has worked at technology companies like Twitter and Razorfish, joins from big data startup, Label Insight.

The appointment follows the successful completion of Price f(x)’s second financing round, at the end of 2018, led by Digital Plus Partners, a leading European B2B growth technology investor, and Bain & Company, one of the world’s leading management consultancies.

By the end of 2018, Price f(x) was serving 90 global customers, including industry leaders such as Robert Bosch, MediaMarktSaturn, Schneider Electric, Iron Mountain and Owens-Illinois. Jose Redondo, Global Pricing Excellence Leader at Owens-Illinois said, “We’ve decided to switch from a first-generation price optimization provider to Price f(x) in 2018 because of its flexibility, responsiveness and implementation speed”. The company was awarded “Cool Vendor of Digital Commerce” by Gartner, selected as pricing technology provider to Bain & Company’s “Pricing Navigator” offering and certified as an SAP® AppCenter partner.

“We’re excited to welcome Patrick to the Price f(x) leadership team. With his diverse background in social and digital media, advertising, brand strategy, and marketing for SaaS solutions, Patrick will help to solidify Price f(x) as a globally recognized leader in the pricing SaaS industry, and ensure our growth continues under the banner of a brand that reflects our customers’ voices, our company’s values, and our product innovations.” said Marcin Cichon, Price f(x) CEO.

Patrick Moorhead said: “I’m excited to join a company that is growing rapidly, attracting new customers and winning awards. Price f(x) was founded on a vision of providing a cloud-powered middle-office management platform that serves the entire life-cycle of customers’ pricing needs and the team’s success in 2018 is testament to how well they are realizing that vision. I’m looking forward to helping them to achieve even more success.”

Tom Fencl, Price f(x)’s CFO said: “Patrick will be a key part of our team. We expanded massively in 2018, adding close to 30 new customers and growing our global team to more than 200. Patrick joins us at an exciting time when we currently have over 100 open positions in the company worldwide and plan to expand across all functions. We are looking forward to another exciting year of growth.”

Axel Krieger, Founding Partner at Digital+ Partners and Price f(x) supervisory board member, said: “To double in size each year for three consecutive years, in such a highly complex enterprise software segment, as Price f(x) has done, is a tremendous achievement. We are very impressed with Price f(x) because of its past growth, and because of the huge growth opportunity ahead.”

Matus Maar, Co-founder and Managing Partner at Talis Capital and Price f(x) supervisory board member said: “When we invested in 2016 alongside with Credo Ventures, we saw the potential for Price f(x) to become a global solution for industry leaders solving a suite of price management challenges. We’re proud to note a record-breaking year for Price f(x) and the addition of Patrick Moorhead to their excellent team, as the company continues to attract and retain a super high-quality customer base. The team’s excellent customer service, operational expertise and impressive dedication has been a recipe for success. We’re excited by their plans for future expansion and are optimistic for another year of astronomical growth!”

New release of Price f(x) QuoteConfigurator and PromotionManager App for Salesforce, Microsoft Dynamics and SAP C4C – Unity v1.36 Opava.

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Dear Price f(x) user,

We have just completed a new set of features for Price f(x) QuoteConfigurator and PromotionManager App for Salesforce, Microsoft Dynamics and SAP C4C – Unity v1.36 Opava.

The main features of this version are: more improvements to the new generation of Table View (column widths are saved together with user preferences), the new Table View available for Contracts, and access to the preview of PriceAnalyzer module with scatter and waterfall charts.

There are also many other enhancements and usability improvements. For a complete list of new features and bug fixes, please see the release notes.

The new version will be ready for release together with the next Unity version in about a month. You will receive a Release Announcement email. If you wish to get this version deployed to your environment, please open a support ticket and we will get back to you to discuss the deployment details.

We hope you like the upcoming features.

Introducing El Presidente, the Hottest Pricing Release North of the Equator.

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If you happen to live in the northern hemisphere and are already dreading the snow and rain, then come and join us on a trip to a Caribbean pricing paradise. El Presidente is serving his favorite cocktail: white rum, orange curaçao, dry vermouth, and grenadine. Sounds tempting? Then you must be ready for our next release – version 3.6 of El Presidente on March 2. Here is a first look of the highlights from the release.
 

  • Greater flexibility with Quotes – With El Presidente, you will be able to define several types of Quotes and each type can have its own approval workflow and header logic assigned to it. This gives you much better support with quoting – you can reflect the different needs of various business units or better accommodate distinct conditions that apply to individual quotes. Such a concept is also much easier to maintain, as the logics are separated and there is no need to handle each scenario through exceptions and conditions.
  • Faster and more targeted approvals
    • When approving from an email, you can perform the Approve/Deny action and add a comment directly (which is then stored on the server).
    • In addition to the ‘denial reasons’ functionality, we have come up with a broader and more flexible concept; comments for both the Approve/Deny actions can be made mandatory. (Denial reasons need to be specified beforehand, whereas comments are always free form and valid for both actions)
    • In Document Creation Workflows you can now notify any user of your choice, not just those involved in the workflow. It is done through the ‘Add watcher’ functionality, known from the regular approval workflow.
  • Other improvements to make your life easier
    • An Excel file can be used now as an entry input in Quotes, Agreements, and Contracts. You simply upload the file and the application can parse and use the data for calculations or other operations.
    • You will be able to have multiple Price Parameters open concurrently, each in its own tab. This is useful when you have to work with data from more than one Price Parameter table simultaneously.
    • Mass edit/delete function is now applied consistently in this manner:
      • to either all items in the table (if no filter is set up or no item selected)
      • or only to the displayed filtered items (if a filter is set up)
      • or only to the items that the user has manually selected (if there is at least one item selected).

Price f(x) Raises €25 Million in Series-B Funding Round Co-Led by Digital+ Partners and Bain & Company



Price f(x), the global leader in cloud pricing software, has raised €25 million in Series B funding. Leading the round are Digital+ Partners, a leading European B2B technology growth investor, and Bain & Company, one of the world’s top management consulting firms. The Series A investors, Prague-based Credo Ventures and London-based Talis Capital, also participated in the round.

Established in 2011 in Munich, Price f(x) provides a modular SaaS solution for Price Optimization, Management (PO&M) and Configure-Price-Quote (CPQ) for enterprises of any size, based on the latest in native cloud architecture. The company currently serves over 80 global, blue-chip B2B and B2C customers across a variety of industries, including Robert Bosch, SchneiderElectric, Owens-Illinois, Iron Mountain and Sonoco. Price f(x) has also developed a strong partner ecosystem with leading global technology, consulting and integration providers—including Bain & Company and SAP—enabling a best-in-class service offering, which helps customers realize a fast time-to-value on their pricing projects.

Read more

Price f(x) Files Petitions with US Patent and Trademark Office to Invalidate Vendavo’s Patents and Launches a Counter Lawsuit



Price f(x), the global leader in cloud pricing software, has filed petitions for “Covered Business Method (“CBM”) Review” of four Vendavo patents, and will imminently file a fifth, which together will cover challenges to all of the patent claims that Vendavo has asserted in litigation between the parties. In Price f(x)’s view, each of Vendavo’s patents qualifies for the specialized CBM procedure created by US Congress to “crackdown on low-quality business method patents.” Read more

New release of Price f(x) QuoteConfigurator and PromotionManager App – Unity v1.34 Munich.



We are happy to announce a new release of Price f(x) QuoteConfigurator and PromotionManager App for Salesforce, Microsoft Dynamics and SAP C4C – Unity v1.34 Munich.
Read more

The great crew change and the impact on teams and tech. – by Garth Hoff

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Speed….
How long does it take to make an employee productive? How long does it take to become a professional? The CEO of PetroSkills has noted, “it takes 3 to 8 years for a company to turn a new employee into a petroleum professional.” We can argue over the timeframe per industry and job function, but it’s well understood that becoming a professional in any skilled area including pricing can take years.

Read more

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