PriceCypher

Across industries and value chains, organizations are grappling with challenges around top and bottom like growth; be it issues with retaining or capturing market share, surpassing raw-material volatilities or commercializing zero-waste technologies. Pricing can serve as a powerful lever to help companies gain and maintain competitive edge, recovery value and grow sustainably.

Gartner estimates that the market for B2B price optimization and management (PO&M) software plus related services grew by 9% in 2020 to $542 million. At least 10,000 B2B companies globally are said to be able to benefit from a PO&M deployment. As software and implementation costs fall, the market will expand.

Your organization may seek to configure complex products and services, price them accurately, and generate quotes for customers in real time, while taking account of customer types, complex configurations, costs, competitive prices, and geography, together with their business priorities. This is where our PriceCypher solution can be of great value. In today’s turbulent economic environment, agility and precision in pricing can make the difference for companies, especially as the market deals with inflation. Download our Advanced Pricing Tactics > for combatting inflation.

PriceCypher helps sales teams find the sweet spot of pricing. Our core mission is to give businesses added AI brain power so that they can improve sales processes and margins. The internal and external data our digital tool provides can be of great value in numerous situations and industries for product price optimization. We have already gathered a huge amount of data for front runners in the following industries:

• Chemicals
• Energy
• Food and Beverages
• Insurance
• Freight logistics

Download the Gartner Market Guide > for Price Optimization & Management.

PriceCypher facilitates the end-to-end price setting and optimization process by computing value-based list and floor prices. It provides you with optimal discount guidelines for segments as well as willingness-to-pay prices.

Step 1: Set value based price boundaries

Compose list prices and floor prices for products or Stock Keeping Units. Use internal and external transactional price data, product cost metrics, competitive pricing, seasonality, supply and more.

Step 2: Set product-customer segments

Classify products into logical groups and segments eg. segment customers and products. Take factors into account such as profitability, demographics, spend and loyalty, price elasticities and lifecycle.

Step 3: Simulate discount matrix

Simulate discount thresholds for different product-customer segments. Evaluate the potential value of correcting non-compliant customer deals. Set risk-assessed guidelines to recovery.

Step 4: Deal price optimization

Compute the customer willingness-to-pay for each and every deal and deal situation. Evaluate the potential value of correcting non-compliant customer deals towards willingness-to-pay prices.

Step 5: Basket & margin optimization

Analyze real-time purchase behavior to improve basket performance by replacing existing products in the basket with higher Return on Sales (RoS) products.

PriceCypher data is more intelligent and accurate as it uses industry-specific history to build an algorithm. This algorithm has been expertly trained over the past decade. As such, the AI software does not use simple ‘scraping techniques’ for learning compared to other market offerings. By utilizing high-quality analytics, you can find what your predictive price could be compared to your current price. Pricing decisions will be based on solid business logic behind the price variant model, meaning your business can use highly realistic prices.

PriceCypher’s plug-and-play software helps make the pricing process as seamless as possible. This means your team does not require numerous consultants or IT specialists for implementation before you can start using the program to upgrade your pricing.