G2

Verified User in Mechanical or Industrial Engineering

Enterprise (> 1000 emp.)

5/26/2020

"Flexible CPQ solution to measure pricing performance and support in pricing strategy implementation"

4.5/5

What do you like best about Pricefx?

Price FX provides flexibility of the ecosystem. The tool has a reasonable performance. The Price FX team has usually business oriented mindset of the (including configuration engineers, architects and project managers). Everything is at quite a reasonable cost of design and implementation. Possibility to start as a stand alone solution - as a pilot, which already can deliver a lot of value. It helps to think about pricing processes that the company would like to implement, prepare some kind of draft of them and check how they work out in reality, without major risk or expenditures. Review collected by and hosted on G2.com.

What do you dislike about Pricefx?

Many logics and functionalities are required to be designed from scratch and there are not too many of them being predefined. It is partly due to a large variety of applications in different companies, industry specific processes, but also (relatively low) maturity of the whole CPQ market. I would recommend to use external help (consulting company) to design the best use cases of the tool and draw a very general architecture together with IT team. Review collected by and hosted on G2.com.

Recommendations to others considering Pricefx:

This is a CPQ tool that is worth considering at any pricing maturity stage. It helps to design and implement new pricing processes, implement alternative price models, pricing governance. It can give a great feedback about your pricing power and performance to the top management. Definitely the journey should start from the strong executive support from the top management, but that's a different story. The external help (another 3rd party vendor) in designing the new processes would be recommended. Review collected by and hosted on G2.com.

What problems is Pricefx solving and how is that benefiting you?

Measurement of pricing KPIs, global transparence. Logics and suggestions of improved pricing performance in line with the corporate strategy. Improved sales bridge structure and return on sales (profit and loss contribution). Review collected by and hosted on G2.com.