Pricing software enables organizations to set, manage, analyze, and optimize the best prices for their products and services. Pricing software provides flexible features for dedicated pricing teams to set overall customized pricing lists and strategies, as well as discounts and rebates. It also analyzes the impact of pricing on sales profitability, helping sales teams improve win rates and margins on their deals.
Pricing software leverages artificial intelligence (AI), predictive analytics, and machine learning (ML) algorithms to analyze large-scale historical data, customer behavior, competitors, and market trends, delivering real-time insights and dynamic pricing recommendations for setting optimal prices.
A robust pricing engine can perform complex calculations and deliver prices in front-end systems, such as enterprise resource planning (ERP) systems and customer relationship management (CRM) software. Pricing software also often integrates with, but is considered separate from, configure, price, quote (CPQ) software. Pricing software and CPQ software often overlap as they both support consistent pricing across the organization, but they also serve different needs within the pricing and sales processes. Pricing software is intended for pricing or finance teams to set pricing strategies based on data-driven insights for optimization. In contrast, CPQ software streamlines the configuration and quoting process for products or services, enabling sales reps to quickly generate quotes with calculated prices, often using pre-defined pricing rules.
Pricing software in this category supports the needs of B2B pricing strategies for SaaS companies, service providers, and enterprises. Solutions tailored to the retail and e-commerce industries are categorized as retail pricing software, which integrates with other retail or marketplace solutions to gather data based on price changes.
To qualify for inclusion in the Pricing category, a product must:
Offer a dedicated pricing solution, separate from the full CPQ system
Include dynamic pricing as a feature that updates prices automatically based on changing conditions, and also support multiple pricing methods such as competitive, cost-plus, value-based, or fixed pricing to help organizations achieve their pricing goals
Primarily serve enterprises, SaaS companies, service providers, and industries that are outside of the retail sector
Provide customizable dashboards and reports with real-time visibility into pricing analytics for optimizing pricing strategies
Integrate with ERP, CRM, and CPQ tools, or have APIs to integrate with other systems
