Company: Pricefx, Chicago, IL.
Nomination Submitted by: Summers PR
Company Description: Pricefx is the global leader in cloud-native 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
Nomination Category: New Product & Service Categories - Business Technology
Nomination Sub Category: Business or Competitive Intelligence Solution
 Nomination Title: Pricefx's Paper Plane
- 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:
June 27, 2023
- 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.
Pricefx is the global leader in SaaS and AI 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 AI price optimization and management platform that provides the industry’s fastest time-to-value and highest ROI in the industry. Its award-winning innovative solution is focused on high impact results for large enterprise B2B companies in Manufacturing, Distribution, and Process Engineering and select other verticals. Pricefx’s business model is entirely based on the satisfaction and loyalty of its customers.
Pricefx launched the Paper Plane 11.0 version of its pricing platform offering advanced functionality, including innovative AI optimization use cases, actionable insights that identify business opportunities and risks, and visual configuration to design price strategies and approval workflows without coding. Pricefx Paper Plane optimization leverages industry exclusive Multi-Agent AI technology, but does so with a “clear box” approach, allowing its users to completely see, and even edit, the underlying structures and algorithms, and even deploy their own pricing science within the solution.
On top of that, Pricefx doesn’t try to “out gun” competitors with the sophistication of its technology. Rather, the company has focused on defining and solving real world, practical use cases that drive business outcomes in multiple areas of the price waterfall. Today ,the Paper Plane optimization technology solves 10 critical optimization use cases, out-of-the-box – more than any other technology. Additionally, it provides the ability to customize for an additional 5 use cases, and can enable an unlimited number of use cases with a “bring your own science” approach.
Paper Plane helps customers to:
-
Continuously identify gaps and opportunities, and allows a user to choose the optimal course of action
-
Benefit from user-oriented setup of “pattern” detections (based on any data threshold, time period or segment comparison)
-
Be data-driven – leveraging any Datamart data and/or Optimization outputs
-
Enable consisting of rules, alerts and follow-up Actions created from a selected context
- 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 352 words used.
We continue to lead the industry for rapid activation and time to value with productized innovation built on real world business applications.
Today’s pricing software industry is a battleground of competing Optimization capabilities. Most providers tout the sophistication of their AI and Optimization technology, the “secret sauce” of their pricing science, with little ability to actually describe what’s “under the hood” or what it means for the end user. We believe AI optimization needs to be both flexible and transparent for organizations to realize its tremendous value. For us, flexibility means being able to leverage your own data science in our AI frameworks, ensuring your optimization technology can evolve alongside your organizational skill over time. And, to ensure your optimization capability is adopted by your users, they need to be able to see and understand how it works and why the outputs make sense, so our AI is fully transparent to establish trust and confidence in how the technology is helping your team.
Pricefx has more than 200 customers across 40 countries, including some of the largest manufacturing, retailing and energy businesses in the world. It has over 500 employees and new customers include Lyreco, Phillips 66, Scotts-Miracle Gro and Watsco. The company has grown by 40% on average each year for the last four years – 3 to 4 times the industry standard for pricing companies.
Customers have raved about the “ease of processing 280 price books (over 9 million rows of data) and the seamless way it interacts with our mainframe system as well as Salesforce.”
“Pricefx is excellent for processing price books quickly and efficiently. We reduced processing time in the 30 months I've used this tool for ten price events (increases).”
“We are able to process special price requests much more efficiently. It has replaced the need for us to compile and circulate large Excel spreadsheets to evaluate and obtain price approvals.” - Donna, enterprise customer.
- 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):
Total 49 words used.
https://www.pricefx.com/paperplane/
https://www.pricefx.com/learning-center/casestudies/owens-illinois/
New Chicago office: https://www.pricefx.com/our-new-chicago-office-is-turning-heads/
Gartner market validation: https://www.gartner.com/doc/3970799, https://www.gartner.com/doc/3947335
Pricefx Product Capability Overview for B2B
https://youtu.be/_yTLLPxE2Tc?si=43cvRunvKcgB-CXF
Pricefx Plan. Price. Profit.
https://www.youtube.com/watch?v=XCbix3C1hMY
AI Powered Knowledge Base
https://www.youtube.com/watch?v=uts5UX5bPiY
| Attachments/Videos/Links: |
|---|
|
