In the flow for this use case, we are looking at understanding customer trends and opportunities for pricing, selling and overall customer health. To maintain revenue and foster profitability further more, understanding customer behavior is crucial. Moreover, with Pricefx, data and information are reliable and relevant, helping you make the right decisions about opportunities, trends and customers. It also helps you increase loyalty and long term collaborations.
Good to know: Some of our screens might look differently as we are in a demo environment.
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Situation description
For this tutorial we will assume the role of a pricing manager at a large global distributor. Currently, one of our challenges is that we have limited visibility into our overall customer portfolio from a pricing perspective, and no way to proactively manage customers who might be at risk, or have significant margin improvement opportunities. But with price FX, you can leverage the data you already have, identifying and prioritizing price and selling improvements from the high portfolio level down to the individual or low customer level, resulting in targeted margin improvements and long term customer health trending.
Workflow
Let's see how we can improve effectiveness with Pricefx ➡️ Customer Insights Analytics. First, let's point out that there's a robust capability for analytics within price FX, including dashboards, KPI's, benchmark and an ad hoc analysis, and this includes a variety of out-of-the-box insights accelerators as well as configured dashboards for a variety of different capabilities.
Step 1: Customer insights -Global view
Within Pricefx, we'll focus on Customer insights right now, particularly on the three key customer insights dashboards that are within the out-of-the-box capability.
Starting with a global view, we can see customer health, KPI's and selling opportunities. In this case, we'll go to our universal view.
There's no additional filtered view and we'll take a look at the overall health scoring for the entire portfolio.
Scrolling down to the customer health summary as well as trending potentially other KPIs around opportunities, you can see that there's a selling opportunity for Cargill.
Step 2: Trends
We will scroll back up and take a look at trending to see within existing trends as well as within customer health scoring.
You will notice that in our case it is not too bad, but maybe there are some improvements that we can look at. So we can click on this individual link within the Customer Insights dashboard and this will take us to an embedded view which is the customer insights dashboard detail view.
Step 3: Customer insights dashboard detail view
In this case, we're already filtered down to the specific customer we wanted: Cargill number 36. You can see there's a wealth of information within this kind of analytics view, from overall health scoring for this individual account, to information around transactions and trending.
Each one of these analytics views can be explored in more detail. It can include both transactional detail as well as future looking forecast data. When you drill down to the customer portfolio or products portfolio you will get information that will help you understand what some of the opportunities are with this specific account.
Step 4: Customer and product portfolio
By clicking the individual link (see screen), we can get to the third of the series of insights and this will give us a lot of additional analytics information and capability for that specific customer.
What you are looking at here specifically, are pricing opportunities and sales opportunities.
You will notice that there are individual products that we could potentially consider selling into this account as well as specific products that we might take into account in terms of additional price by category and by individual line item.
With this information, you can more effectively recommend changes to your sellers and to your sales organization within Pricefx.
This concludes another flow for improved profitability by using price FX, Customer insights and analytics.