Pricefx Launches Sales Compensation Capability

Pricefx, a provider of cloud-native pricing software, has added Sales Compensation to its product line-up as part of the latest release.

With Pricefx Sales Compensation, customers can reduce commission overpayment and improve transparency for both salespeople and sales leaders.

Part of Pricefx's Hurricane release, Sales Compensation includes predefined or custom compensation plan types, agreement result simulation, approval workflows, incentive tracking, accruals and pay-outs calculation, dispute management, and audit tracking. Pricefx enables strategy alignment between pricing and sales teams and creates a single source of truth across all departments.

"Manually managing complex compensation plans for large sales organizations is a nightmare; it's resource-intensive, error-prone, opaque, and often leads to a lack of trust between sales and management," said Toby Davidson, chief product and technology officer of Pricefx, in a statement. "Companies are investing in automating this process to save time, money, and provide greater transparency to their teams. With Pricefx, businesses can quickly implement predefined compensation plans, gain access to transparent dashboards, trust in error-free calculations, reduce overpayments, and get full visibility into compensation level at the time of quote, leading to higher quota attainment and improved profitability. Now all the key players are working together to achieve the company's objectives."

Within the Hurricane release, Pricefx has also added Agreements & Promotions capabilities and PricefxPlasma, enabling opt-in customers to get immediate access to standard pricing KPI dashboards to measure and compare pricing process performance with other companies and identify market trends.

Pricefx also has unified the user experience across optimization use cases, and all optimization flows and steps now follow the business problem to be solved. Customers can now reuse related model definitions across multiple use cases and business situations. Pricefx customers can also now leverage custom forms to develop functionalities with data inputs, outputs, and customized calculations within the application.

"With the Hurricane release, Pricefx has once again demonstrated continued innovation in the pricing industry," Davidson said. "Our award-winning pricing platform delivers real solutions for our customers' business challenges, driving more revenue and accelerating profit growth. Hurricane extends our leadership position in pricing optimization, which is becoming a critical tool for companies navigating today's economic climate."