Demand for pricing software has continued to grow as companies strive for a more data-driven pricing approach. As a result, the market has increased, multiple providers have emerged, and total purchasing and implementation costs for pricing software systems have rapidly increased. With such a high upfront investment, one would think the returns would justify the cost. Unfortunately, 92% of pricing software fail to meet targeted KPIs within three years. In this article, the author examines the reasons behind these failing trends.
In this article, the author shares the pros and cons behind the timing of pricing and sales software investment decisions. Should you invest before or after implementing other major systems such as ERP or CRM? And how do you determine if your datasets are clean and prepped enough to proceed? As the author explains, the best approach is to be informed, fully consider the options, and listen to your instincts.
In the Q2 2019 edition of the Journal of Professional Pricing, Professional Pricing Society presented an article from PPS board member Stephan Liozu, PhD, regarding the state of the pricing management software industry. This month, we present a response to Liozu’s analysis from pricing management software provider Vendavo.
In this article, the author explores the current state of the pricing software industries, reasons why it has not grown at a faster rate, and current challenges the industry is facing which are prohibiting it from achieving scalability and profitability.