Price f(x) Achieves Best Sales Quarter in Company History, Fueled by New Customer Acquisitions across the Globe
Price f(x), the global leader in cloud pricing software, today announced its strongest sales quarter on record. Overall sales for the quarter ending March 31, 2019 nearly doubled compared to the same quarter last year. The company added more than ten customers globally, including leading manufacturers in technology, chemical, construction, appliances and other sectors. Key wins include medical technology company Dräger, industrial controls manufacturer Bosch Rexroth, and specialty chemicals platform ICP Group.
To scale for the rising demand of its easy-to-use pricing solutions, Price f(x) has significantly expanded its U.S. presence. It plans to double its Chicago area staff and hire an additional 50 employees globally, with an emphasis on engineering and commercial talent. To accommodate this growth, Price f(x) is doubling the square footage in its Chicago headquarters at 150 North Riverside Plaza. This award-winning building, completed in 2017, has been named a best urban habitat and one of the best tall buildings in America, and offers Price f(x) employees an exceptional workspace, stunning views included.
“We kicked off 2019 strong by signing on more customers who need a pricing software solution that is fast, flexible and friendly,” said Marcin Cichon, CEO and co-founder of Price f(x). “Customers choose us – and stay with us – because we deliver a unique and innovative product that provides actionable insights into pricing data, supporting the definition of best contextual prices that enable sales teams to negotiate the most profitable deals and close them faster. We are excited to deliver on this promise to our newest customers. We are also excited about our growing Price f(x) family – and are humbled that so many superb professionals are choosing to join our nimble, disruptive company.”
Mark Thomason, research director for IDC, said, “From our interviews...most customers had a payback of less than 12 months, with some having paybacks of less than 3 months due to the solution uncovering large opportunities from underpricing. Today's price optimization applications can simplify pricing complexity and enable salespeople and e-commerce to efficiently sell at the optimal price.”
Price f(x) will be attending the NYPS World Pricing Conference in Frankfurt, Germany on April 9-11, where Gabriel Smith, the company’s chief evangelist, will present the “Future of Pricing.” Smith will also present “Customer-centric Pricing in an Omni-channel World” at B2B Online, which will take place in Chicago April 29-May 1.
About Price f(x)
Established in 2011 in Germany, Price f(x) is the global leader in SaaS pricing software, offering a comprehensive suite of solutions that are fast to implement, easy to use, and flexibly adapt to any business need. Price f(x) delivers a complete price optimization and management platform based on native cloud architecture, to power pricing Insights, Definitions, and Realization. Their innovative solution works for both B2B and B2C enterprises of any size, in any industry, in any part of the world. Price f(x)’s business model is entirely based on the satisfaction and loyalty of its customers. Today, Price f(x) delivers Passion for Pricing to more than 95 customers in more than 37 countries worldwide. For more information, please visit www.pricefx.com.
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