Pricefx Introduces Velo, The Industry’s First Strategic Large Deal Negotiation Solution
Pricefx, the global leader in cloud-native pricing software, today launched Velo, a unique offering for companies to maximize value on large deal negotiations. Designed to manage the largest transactional relationships in each business, Velo is the industry’s first solution specifically focused on helping sellers to prepare for, and win, profit-maximizing outcomes on large contract negotiations, bids, proposals and sourcing events. Combining a proven deal negotiation methodology with innovative technology for value estimation and leverage optimization, Velo now gives businesses the analytical insights, structured process and workflow automation to negotiate highly customized deals with confidence.
For many large B2B companies, the top 5-10% of their customers make up more than 50% of revenue. The agreements with those customers are essential to the company’s survival. With changes in demand, both buyers and sellers seek to optimize their largest positions as contracts and commitments naturally expire or get adjusted. Buyers often use powerful procurement platforms to optimize their position. With Velo, companies can now equip themselves with an equally powerful package of technology and strategy to maximize value, optimize leverage and negotiate to win.
“Companies have traditionally relied on spreadsheets and manual processes, without collaborative tools, thus leaving potential negotiation power unknown,” said Marcin Cichon, CEO and co-founder at Pricefx. “We are giving businesses a powerful, new way to manage large, complex deals, leveling the playing field in negotiations, and improving outcomes. Tribal wisdom and outdated CPQ technology are no match for the capabilities of Velo.”
“Procurement organizations continue to attack the profit and value positions of their largest suppliers,” said Brian Sharp, Chief Revenue Officer for Profit Velocity. “Category-by-category, sellers face a withering storm of sourcing event approaches with software and services geared toward depleting supplier profits and value. Velo is the first solution to re-balance the playing field so that suppliers can capture their fair share of the value they create for their largest customers.”
Pairing Pricefx ValueEstimator and LargeDealOptimizer modules with the proven methodology from partner Profit Velocity, Velo is a one-of-a-kind strategic software solution to maximize profitability and leverage in large deals. It pairs this software with a proven process-centered methodology, leveraging leading-edge scenario-based negotiation playbooks and a team of negotiation experts who have managed over 400 large complex deals with cumulative recurring revenues exceeding $8 Billion/year across a multitude of industry verticals.
LargeDealOptimizer facilitates the planning of large, complex deals with guidance and contextual information to support the negotiation of monolithic deals in one, central location. It manages deal teams through the workflow of establishing opening positions, anticipating buyer objections and counter-proposals, while aligning the team with their leadership’s objectives and governance. Efficiently streamlining, organizing, and approving complex customer transactions within the Pricefx platform, LargeDealOptimizer enables organizations to get the most value and profit from the customers that generate much of their revenue.
ValueEstimator enables companies to assess their differential competitive value based on the actual customer-based decision drivers. It establishes value-based pricing while enabling that value to be communicated when a price is set for a customer quote or proposal.
Velo provides a proven, immersive and agile service led by world-class negotiation experts, assuring business leaders and P&L owners that each deal team is ready to negotiate-to-win. While every large deal is customized by their very nature, the Velo solution provides a repeatable process-centered approach which fully integrates the new software tools. Early customer reviews of Velo say that Pricefx is offering “a unique new capability that connects its powerful price optimization engine to customer value data. We've waited a long time for this – a huge breakthrough for pricing leaders.”
Velo is easy-to-deploy and can be delivered one deal at-a-time or through a subscription-based approach to support the highest stakes deals. Historically businesses have consistently grown the profitability of their large customer transactions by an average of 440 basis points per deal by leveraging the Velo software and methodology.
Velo is available now and interested parties can learn more at www.hellovelo.com.
About Profit Velocity Solutions LLC
A San Francisco-based data analytics software company, Profit Velocity has pioneered the use of time-based profit data analytics that enable the management teams of large manufacturers to fine-tune their mix of customers and products and unlock significant investor gains. With its unique profit data visualizations and instant what-if planning, Profit Velocity’s profit information platform turns readily available data into potent new insights that allow decision-makers to isolate and capture gains previously buried in an ocean of corporate data. Profit Velocity has served manufacturers, large and small, across North America, Asia, and Europe. For more information, please visit www.profitvelocity.com.
Established in 2011 in Germany, Pricefx is the global leader in SaaS pricing software, offering a comprehensive suite of solutions that are fast to implement, flexible to configure and customize, and friendly to learn and use. Pricefx delivers a complete price optimization and management platform based on native cloud architecture, providing industry leading time to value and total cost of ownership advantages to customers. Their innovative solution works for both B2B and B2C enterprises of any size, in any industry, in any part of the world. Pricefx’s business model is entirely based on the satisfaction and loyalty of its customers. Today, Pricefx delivers Passion for Pricing to more than 100 customers in more than 37 countries worldwide. For more information, please visit www.pricefx.com.
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