Pricefx Raises the Bar for Price Management, Optimization and CPQ With New Platform Release
Major feature enhancements and use of the whole AI landscape helps customers proactively identify business opportunities and increase value of deals
Pricefx, the global leader in cloud-native pricing software, announced the release of Clover Club 12.0 version of its award-winning pricing platform. The new version includes major feature enhancements that lay the foundation for additional Generative AI integration and utilize a range of AI capabilities to address more price optimization use cases than any other solution on the market.
“We continue to embed the full spectrum of AI technology into our platform in order to drive value for our customers with a focus on impact, scalability and transparency. This latest release will help customers automate more processes, increase deal value and achieve desired business outcomes.”
Now available to all customers, the Clover Club 12.0 release adds significant new functionality to Actionable Insights that enables proactive business opportunity and risk detection capabilities with relevant contextual actions to take within the application. AI-driven Product Recommendations and Negotiation Guidance use cases have been improved as well to help sales teams provide faster quotes with higher value and conversion rates. These enhancements also lay the foundation for integrating Generative AI into the Pricefx ecosystem in 2024 and beyond.
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“The innovations we are delivering with our Clover Club release will enable customers to detect business opportunities and risks faster and accelerate and improve the quoting process, leading to more lucrative deals getting done,” said Billy Graham, Chief Product Officer for Pricefx. “We continue to embed the full spectrum of AI technology into our platform in order to drive value for our customers with a focus on impact, scalability and transparency. This latest release will help customers automate more processes, increase deal value and achieve desired business outcomes.”
In the Clover Club 12.0 release, Actionable Insights allows users to automate repetitive analytical tasks using data from existing charts and dashboards. It now allows immediate click-driven setup of continuous data observation directly from within the Sales and Customer Insights dashboards and analytical charts. Users can also determine the optimal course of action based on in-application access to notes, messages and relevant documents such as quotes and rebate agreements. Actionable Insights is ideal to detect:
– Churn risk: based on downward trend across volume, revenue or margin
– Margin opportunity: driven by segment-based comparison of actual margin value
– Low margin deals: based on decreasing trend of the margin percentage across the product portfolio
Users can also define other automated data observations to obtain relevant business insights based on their specific needs.
With AI-driven Product Recommendations guidance, sales teams can speed up the quoting process and improve deal value and their conversion rates by presenting customers with quotes tailored to their needs. Sales teams using Pricefx Product Recommendations functionality can provide more options to substitute similar or add complementary products during quoting. This allows them to promote private label brands, upsell similar products with a higher unit margin, and increase competitiveness of quotes by recommending similar products with lower unit costs.
Pricefx Negotiation Guidance functionality now includes the option to define cross-segment pricing positioning rules by different attributes such as customer size, region and competitiveness.
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