Pricefx Introduces Velo, a Large Deal Negotiation Solution
Pricefx, a provider of cloud-native pricing software, today launched Velo to help companies maximize value on large deal negotiations.
Velo is specifically focused on helping sellers prepare for and win large contract negotiations, bids, proposals and sourcing events. Combining a deal negotiation methodology with technology for value estimation and leverage optimization, Velo gives businesses the analytical insights, structured process, and workflow automation to negotiate highly customized deals.
"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 of Pricefx, in a statement. "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 Tribal wisdom and outdated CPQ technology are no match for the capabilities of Velo."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 of Profit Velocity, in a statement. "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's ValueEstimator and LargeDealOptimizer modules with Profit Velocity's methodology, Velo leverages scenario-based negotiation playbooks and a team of negotiation experts who have managed more than 400 large complex deals with cumulative recurring revenues exceeding $8 billion per year across a multitude of industry verticals.
LargeDealOptimizer facilitates large, complex deals with guidance and contextual information through the workflow of establishing opening positions, anticipating buyer objections, and counter-proposals, while aligning the team with their leadership’s objectives and governance.
ValueEstimator enables companies to assess their competitive value based on 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.