Overview: This blog provides a quick snapshot of the Optimized Dynamic Pricing solution by Pricefx, an SAP endorsed app and why SAP customers who want to maximize their pricing power should check the solution on the SAP Store here. This is then followed by a conversation with Joe Golemba, VP, Global Ecosystem & Partners @Pricefx who highlights that the relationship with SAP is a sign of mutual commitment to delivering maximum customer value. The original post was posted here.
Optimized Dynamic Pricing, a SAP endorsed app enables SAP customers to fully realize the power of price optimization. It integrates with pricing conditions stored in SAP® solutions, providing you with greater flexibility and pricing power. Integrated artificial intelligence (AI) and machine learning technologies enable you to test the impact of future pricing changes based on your data before you implement them. By making insight-driven price modeling decisions, you can improve your company’s competitive edge without sacrificing profit margins.
What are the main benefits of Optimized Dynamic Pricing?
Optimized Dynamic Pricing enables you to increase business agility, eliminate margin leakage, and reduce overhead and risk. It helps you to unlock key insights hidden behind Microsoft Excel files and on-premise solutions that cannot be unlocked at scale with siloed systems. This cloud-native platform integrates smoothly with your SAP Commerce Cloud solution to deliver profitable growth and efficiency in record time, with optimal flexibility and ease of use.
What types of businesses can benefit from Optimized Dynamic Pricing?
The solution is ideal for businesses that have tens of thousands of price points and need to calculate prices and discounting thresholds dynamically based on various components. It enables these businesses to increase the velocity and automation of price changes across thousands of products by using AI and machine learning to fix suboptimal pricing practices identified in historical deals. Businesses benefit by centralizing control over price management that’s distributed across operations and regions involving numerous countries and currencies.
What makes the Pricefx partnership with SAP so great for delivering customer value?
We’re proud of our SAP endorsed app at Pricefx, but we don’t crow about it too much. Why? Because the important thing is that SAP and Pricefx are totally committed to delivering maximum customer value through our partnership, and our SAP endorsed app is just a visible sign of that commitment. Let's look at a few key ways the Pricefx partnership with SAP helps our customers:
Native cloud integration
SAP premium-certified integration with SAP applications
Identifying inflationary pressures quickly, turning them to your advantage
Our customers and partners appreciate that it’s our relationships as much as the software that makes the Pricefx partnership with SAP successful.
Now, let's take a deeper dive into those relationships and how this partnership delivers great customer value.
Pricefx culture – customer first, partners, honesty, and openness
Pricefx culture is all about customers first and maximizing value through a strong partnership ecosystem founded on openness, honesty, and strong forward planning. Internally, we aim for a family feel and minimal politics, remembering that the strongest families are those where everyone can be open and honest in sharing their thoughts, ideas, and concerns.
This culture extends into partnerships. While the customer is always first, working collaboratively with partners is a top priority, building an ecosystem based on mutual understanding. Partnerships can be just a label for any old commercial relationship, but at Pricefx it means something important and valuable.
Our customer base covers sectors from manufacturing (both process and discrete), food and beverage, distribution, and energy to automotive and retail. Regardless of sector, our proposition is the same – we sell value, not software.
We start with our customer’s strategy and pain points and look for where our solutions can deliver value to the top line, focusing 100% on maximizing their ROI.
Pricefx and SAP – a perfect partnership?
The Pricefx partnership with SAP has come a long way since we recognized that Pricefx could do great stuff for the 70%+ of Pricefx customers running on SAP software.
It was a slow start but as we began to deliver successes, notably through the SAP Commerce Cloud solution, both companies started to see the great cultural fit and value we could deliver.
Shared priorities around customer first, strong partnership ecosystem, and openness and honesty power our relationship.
Up-front go-to-market planning is driven by where we can deliver the most value, and honest discussion of blockers and opportunities. This cascades into weekly, monthly, and quarterly reviews to make sure we stay aligned, and feeds into the whole marketing, sales, and execution process.
This shared culture and close working partnership give us the foundation to deliver maximum value via our SAP endorsed app and premium-certified integration with SAP applications.
How Pricefx's endorsed app creates value
Pricefx was one of the first to join the SAP Endorsed Apps program*. We say it’s foolish to see our endorsed app as just a badge – for us, it’s an investment that delivers real value to our customers.
It’s not just that it speeds time to value for customers by having Pricefx on SAP Store.
Pricefx benefits from the understanding of its customers that SAP has built up over time, so we can hit the ground running when we engage. Our customers tell us that knowing SAP has endorsed our app – and that it has premium-certified integration with SAP applications – gives them confidence that SAP has rigorously validated its quality and interoperability. That means a lot to them, given SAP’s standing.
Pricing is complicated, and you don’t want to have to worry about it. Effective pricing is going to become more important as the business environment gets more challenging, and plenty of enterprises don’t have a pricing tool. Pricefx, working in partnership with SAP, will continue to focus on driving value, reducing time to value, and harnessing more data to optimize pricing. To find out more, visit us at SAP Store.
*SAP endorsed apps are a category of solutions from SAP’s partner ecosystem to help customers become best-run, intelligent enterprises. Endorsed apps complement and extend SAP products and are meant to deliver value with desired outcomes – quickly, easily, and with support from SAP. The solutions are tested and premium certified by SAP with added security, in-depth testing and measurements against benchmark results. SAP Endorsed Apps can be identified by their unique gold and black logo.