Pricefx, Bain & Company Launch Price Accelerators To Help Companies Address Frontline Discounting, Pricing Leakage, And Promotion Management
Successful control of frontline discounting, identifying key sources of pricing leakage, and optimizing promotion management can provide a significant competitive advantage, but companies often lack discipline in these critical pricing capabilities. This creates variability in realized prices and margins. Pricefx, the global leader in cloud-native pricing software, and Bain & Company announce the launch of three Accelerators – prepackaged and configurable purpose-built software solutions – to help companies improve their pricing excellence.
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Controlling frontline discounting is one of the most powerful B2B pricing value levers. Yet, according to a Bain & Company survey, many B2B companies do not provide their salesforce with the right tools and data to make effective pricing decisions. Pricing decisions can be complicated due to difficulties in identifying truly “like-for-like” transactions that allow companies to create guidelines. In other cases, sales team buy-in may be limited – a result of algorithms that are frequently a “black box.” Sales teams may also encounter pushback on price increases, due to a lack of trust in the recommendations and tools. As a result, many teams providing those recommendations lack credibility with customers.
Bain’s Dynamic Deal Guidance Accelerator (DDG) for Pricefx aims to provide frontline B2B sales representatives with deal-specific target price guidance based on important attributes that impact pricing, such as important customer, product, and buying attributes. The accelerator is powered by proprietary Bain machine-learning algorithms that incorporate salesforce knowledge, includes best in class Bain developed UI/UX to help drive desired behaviors, and optimizes approval flows and processes, which together drive better sales team adoption.
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“We’re excited about introducing Dynamic Deal Guidance – the most streamlined and sophisticated CPQ solution in the market, backed by Bain & Company,” said Patrick Adams, Chief Revenue Officer of Pricefx. “The accelerator is a game-changer – creating a competitive advantage for customers and building organizational alignment with real data and results. It will improve value realization, helping frontline sales teams understand what motivates behavior so they can deliver accurate pricing guidance to their clients.”
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