Pricefx, the global leader in cloud-native pricing software, announced the launch of Clover Club, version 12.0 , its award-winning pricing platform. The new version includes key feature enhancements that lay the foundation for increased integration of generative AI, leveraging a range of AI capabilities to address more price optimization use cases compared to other solutions on the market.
Now available to all customers, Clover Club version 12.0 offers important new Actionable Insights capabilities that enable predictive identification of business opportunities and risks with relevant, contextual actions within the application. AI-driven product recommendations and negotiation tools have also been improved to help sales teams create faster offers with higher value and higher conversion rates. The extensions further lay the foundation for the integration of Generative AI into the Pricefx ecosystem in 2024 and beyond.
“The innovations delivered with the new version of Clover Club enable customers to identify business opportunities and risks more quickly and accelerate and improve the quoting process, resulting in more lucrative deals,” said Billy Graham, Chief Product Officer at Pricefx. “We will continue to incorporate the full spectrum of AI technology into our platform to drive value for our customers, with a focus on impact, scalability and transparency. This latest release will help customers automate more processes, increase business value and achieve desired business outcomes.”
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The Clover Club 12.0 release allows users to automate repetitive analytical tasks using Actionable Insights, using data from existing charts and dashboards. From now on, it is also possible to immediately set up continuous data monitoring with a mouse click directly from the sales and customer information dashboards and analytical charts. Users can further determine the best course of action based on in-application access to notes, messages and relevant documents such as offers and discount agreements. Actionable Insights is particularly good for detecting:
– Churn risk: based on a downward trend in volume, revenue or profit margin
– Margin opportunities: through segment-based comparison of the actual margin value
– Low margin stores: based on the decreasing trend of percentage margin across the product portfolio
Users can also define other automated data observations to provide relevant business insights based on their specific needs.
With AI-driven product recommendations, sales teams can speed up the quoting process and improve deal value and conversion rates by providing customers with offers tailored to their needs. Sales teams using Pricefx product recommendation functionality can offer more options for replacing similar products or adding complementary products during quote creation. This allows them to promote private labels, sell similar products at a higher profit margin, and increase the competitiveness of offerings by recommending similar products with lower unit costs.
The Pricefx Negotiation Guidance functionality now offers the ability to define cross-segment price positioning rules based on various attributes such as customer size, region and competitiveness.
SOURCE: BusinessWire