Best Pricing Software Shortlist
After trying many software, I shortlisted the following pricing software:
- Quoter - Best for IT service providers
- Feedvisor - Best for Amazon sellers
- Verenia - Best for NetSuite CPQ users
- BlackCurve - Best for ecommerce users
- PROS Smart Price Optimization and Management - Best on-premise pricing software
- Omnia Retail - Best for retailers
- Pricefx - Best for price optimization and management
- Epicor CPQ - Best for handling complex product configurations
- Prisync - Best for competitor price tracking
- Vendavo - Best for manufacturers and distributors
- Zilliant - Best for improving margin performance
- tgndata - Best for dynamic pricing
Setting the right price for products and services requires a careful analysis of market conditions, customer behaviors, and internal factors. Pricing software will help you manage and optimize the pricing of your products and services. It employs advanced algorithms, machine learning, and automation capabilities to help you stay ahead of the curve. So, after careful analysis and testing, I have curated a list of the 12 best pricing software with a detailed review of each.
What Is Pricing Software?
Pricing software is a tool that helps businesses determine the optimal pricing for their products or services. It assists companies in setting prices that maximize profitability and align with their business goals.
Pricing software considers various factors such as production costs, market demand, competitor pricing, and customer behavior to provide data-driven insights and recommendations for pricing decisions. It can automate complex pricing calculations, perform market analysis, track competitor pricing strategies, and generate pricing models or scenarios to guide businesses in making informed pricing decisions.
Overviews of the 12 Best Pricing Software
Are you ready to discover the best pricing software? Below is a detailed summary of why I chose the software, key features, pricing, and pros and cons. I've also included a screenshot of each tool.
1. Quoter - Best pricing software for IT service providers
Quoter is a quoting software that simplifies the process of creating, delivering, and managing sales quotes and proposals. It is specifically built for businesses that rely on completing and sending quotes as part of their sales process.
Why I picked Quoter: I picked Quoter because it allows for easy creation and customization of quotes and proposals, enabling IT service providers to accurately and efficiently price their services. Quoter's flexibility in handling complex pricing structures, such as tiered pricing or bundled services, is particularly valuable for IT service providers who often offer their clients a range of service packages or options.
Moreover, Quoter's reporting and analytics features are valuable for IT service providers who aim to optimize their pricing strategies. The software provides insights into quote performance, conversion rates, and revenue generated.
Quoter Standout Features and Integrations
Standout features include templates, tax calculations, e-signatures and agreements, payment processing, and approval management. I particularly liked the tax calculations feature as it configures tax rates based on different regions or jurisdictions, and the software automatically applies the appropriate taxes to the quotes. This feature saves time and ensures accuracy in pricing.
Integrations include Datto Autotask, ConnectWise, Syncro, Ingram Micro, Dicker Data, Salesforce, HubSpot, Agile CRM, Highrise CRM, and Pipedrive. You can also get additional integrations through Zapier and Webhooks.
Pricing One-Liner: From $129/month
Free Trial One-Liner: Live demo available
Pros
- Customizable templates
- Can handle complex pricing structures
- Simple and modern interface
Cons
- Potential learning curve for new users
- Lacks advanced customizations
2. Feedvisor - Best pricing software for Amazon sellers
Feedvisor is an AI-powered repricing and revenue intelligence platform for online retailers and brands. It leverages machine learning algorithms to optimize pricing strategies, enhance product visibility, and drive profitability in ecommerce marketplaces like Amazon.
Why I picked Feedvisor: One key reason to choose Feedvisor is its AI-powered repricing capabilities. The software utilizes advanced machine learning algorithms to analyze real-time market data and competitor pricing. It allows Amazon sellers to adjust their prices dynamically to stay competitive and win the coveted Buy Box. This dynamic repricing feature is crucial for sellers to maximize their sales and maintain a strong position in the highly competitive Amazon marketplace.
Furthermore, Feedvisor provides valuable revenue intelligence and actionable insights for Amazon sellers. The platform offers detailed analytics and reporting tools that enable sellers to gain deep visibility into their sales performance, identify trends, and make data-driven decisions. These insights help sellers optimize their pricing strategies, identify new opportunities, and improve overall revenue on Amazon.
Feedvisor Standout Features and Integrations
Standout features include real-time KPI monitoring, which enables users to track crucial performance indicators like sales, revenue, and profitability in real-time. The market share trajectory analysis feature allows sellers to assess their performance compared to competitors, identify trends and gain a competitive edge.
Integrations include Amazon, Amazon Advertising, eBay, Walmart, and eChannel Hub.
Pricing One-Liner: Pricing upon request
Free Trial One-Liner: 14-day free trial
Pros
- Helps businesses manage their Amazon marketplace presence
- Provides real-time KPI monitoring
- Provides detailed market share trajectory analysis
Cons
- Steep learning curve for new users
- Supports limited ecommerce marketplaces
3. Verenia - Best pricing software for NetSuite CPQ users
Verenia is a pricing tool that provides Configure, Price, Quote (CPQ) for NetSuite CPQ users. It automates quote and proposal generation and helps enhance the overall buying experience for customers.
Why I picked Verenia: Verenia offers native integration with NetSuite CPQ, allowing for a unified sales process. This integration eliminates manual data entry and ensures consistent and accurate information across the sales cycle.
Verenia's pricing software provides advanced features that complement NetSuite CPQ, such as robust product configuration options, dynamic pricing rules, and automated proposal generation. These capabilities enable businesses to quickly create accurate and compelling quotes, improving efficiency and customer satisfaction.
Verenia Standout Features and Integrations
Standout features include a bill of materials (BOM) and routing feature, which enables businesses to generate accurate and detailed breakdowns of product components, materials, and associated costs. This functionality helps manage the manufacturing or assembly process, ensuring efficient production and cost control.
Integrations include Intuit QuickBooks, Made2Manage, Infor, SYSPRO, Sage CRM, Oracle, Acumatica, and Macola Software.
Pricing One-Liner: From $89/month
Free Trial One-Liner: Free demo available
Pros
- Easy to use
- Integrates with shopping cart solutions
- Supports multiple CAD formats
Cons
- Initial setup and integration can be complex
- New users require training
4. BlackCurve - Best pricing software for ecommerce users
BlackCurve is a pricing optimization software that helps businesses optimize and manage their pricing strategies. It uses advanced algorithms and data analysis to determine the most effective pricing for products and services, with the aim of maximizing profits and maintaining competitiveness.
Why I picked BlackCurve: BlackCurve is an excellent choice for ecommerce users looking for pricing software due to its robust features and capabilities.
For example, it employs sophisticated algorithms and data analysis to optimize pricing strategies. It takes into account factors such as market demand, competitor pricing, and customer behavior, allowing ecommerce users to set competitive prices.
BlackCurve also offers various automation capabilities. With the ability to set predefined rules, the software can automatically adjust prices based on specific triggers or market conditions. This automation saves time and effort, especially for businesses with large inventories and frequent price changes.
BlackCurve Standout Features and Integrations
Standout features include pricing insights and analytics that empower ecommerce users to make informed decisions. The software offers actionable insights by analyzing historical pricing data and market trends, enabling businesses to identify pricing opportunities, understand customer preferences, and optimize their pricing strategies for better results.
Integrations include Dropbox Business, Salesforce Sales Cloud, Shopify, WooCommerce, Adobe Commerce, BigCommerce, PrestaShop, SAP Business One, and ChannelAdvisor.
Pricing One-Liner: From $99/month
Free Trial One-Liner: 14-day free trial
Pros
- Advanced pricing optimization algorithms
- Automation saves time and effort
- Provides valuable data-driven insights
Cons
- Steep learning curve
- Reliance on accurate and up-to-date data inputs
5. PROS Smart Price Optimization and Management - Best on-premise pricing software
PROS Smart Price Optimization and Management is a pricing software that consolidates all your pricing information in a single location.
Why I picked PROS Smart Price Optimization and Management: PROS Smart Price Optimization and Management is best for businesses that require an on-premise pricing solution.
The on-premise deployment also offers businesses full control over their pricing processes and the ability to integrate the software with their existing systems, such as ERP and CRM software. This level of integration and scalability is crucial for businesses that want to leverage their current infrastructure and incorporate pricing optimization into their existing workflows.
PROS Smart Price Optimization and Management Standout Features and Integrations
Standout features include opportunity detection features that leverage advanced analytics and machine learning algorithms to identify potential sales opportunities within a company's customer base. It analyzes various data sources, including historical sales data, customer behavior, market trends, and external data points, to uncover valuable insights.
Pricing One-Liner: Pricing upon request
Free Trial One-Liner: Free demo available
Pros
- Provides AI-powered quoting
- Great risk management tool
- Suitable for enterprises
Cons
- Initial setup is complex
- Limited customization options
6. Omnia Retail - Best pricing software for retailers
Omnia Retail specializes in ecommerce pricing and optimization solutions. Their platform offers a range of intelligent tools and algorithms.
Why I picked Omnia Retail: Omnia Retail provides several pricing features for retailers. These include dynamic pricing capabilities, competitor monitoring, assortment optimization, and revenue management.
The dynamic pricing feature enables businesses to adjust prices based on factors such as demand and competitor prices, ensuring competitiveness and maximizing revenue potential.
Additionally, the platform's competitor monitoring and assortment optimization functionalities allow retailers to stay ahead by analyzing competitors' pricing strategies and identifying the most profitable product mix. With its revenue management capabilities, Omnia Retail enables retailers to forecast and optimize revenue, considering various factors like pricing, inventory, and promotions.
Omnia Retail Standout Features and Integrations
Standout features include intelligent pricing rules and strategies, promotional optimization, personalized pricing, and pricing simulations. The intelligent pricing rules and strategies feature allows retailers to define specific pricing rules based on their business objectives and market conditions. Lastly, pricing simulations allow retailers to test and simulate different pricing scenarios to evaluate their potential outcomes before implementation.
Integrations include Google Analytics 360.
Pricing One-Liner: Pricing upon request
Free Trial One-Liner: Free demo available
Pros
- Provides detailed pricing insights
- Automates data collection and price calculations
- User-friendly interface
Cons
- Not ideal for small businesses
- Limited customization
7. Pricefx - Best pricing software for price optimization and management
Pricefx is a pricing software with advanced analytics, centralized price management, CPQ functionality, and rebate/incentive management capabilities. With Pricefx, companies can make data-driven pricing decisions and maximize revenue in dynamic market environments.
Why I picked Pricefx: Pricefx stands out as a top choice for price optimization and management due to its robust features and capabilities. Firstly, Pricefx offers advanced analytics and machine learning algorithms that empower businesses to optimize their pricing strategies. By considering factors such as market demand, competition, customer behavior, and business objectives, Pricefx enables companies to make data-driven pricing decisions that maximize revenue and profitability.
Secondly, Pricefx provides a comprehensive price management solution. It allows centralized control and management of pricing data, rules, and structures across multiple channels, products, and customer segments. This ensures consistency and accuracy in pricing across the organization. The platform also offers configurable workflows and approvals, enabling streamlined and efficient pricing processes.
Pricefx Standout Features and Integrations
Standout features include Configure, Price, Quote (CPQ), rebate and incentive management, analytics, and reporting. The CPQ functionality helps businesses generate accurate and customized quotes quickly. The CPQ capabilities consider various pricing factors, product configurations, and business rules to provide real-time quotes that align with customers' specific requirements. Pricefx enables companies to design, manage, and track complex rebate and incentive programs. It automates the calculation and tracking of rebates, discounts, and incentives, providing transparency and accuracy in incentive management.
Integrations are available through Pricefx API.
Pricing One-Liner: Pricing upon request
Free Trial One-Liner: Free trial not available
Pros
- Provides centralized price management
- Advanced analytics for data-driven pricing
- CPQ functionality for personalized quotes
Cons
- Lacks transparent pricing
- Limited integrations
8. Epicor CPQ - Best pricing software for handling complex product configurations
Epicor CPQ (Configure, Price, Quote) is a software solution that helps businesses manage their sales processes by enabling efficient configuration, accurate pricing, and quick quoting of complex products and services. It was formerly known as KBMax before being acquired by Epicor.
Why I picked Epicor CPQ: I picked Epicor CPQ because it can accommodate the specific needs and complexities of different industries and products. It allows businesses to define rules, options, and dependencies for product configurations, ensuring accurate quotes based on customer requirements.
Epicor CPQ provides visual and interactive features like 3D product renderings and models. This enables sales teams and customers to visualize the configured product, making the quoting process more engaging and facilitating better decision-making.
Epicor CPQ Standout Features and Integrations
Standout features include a powerful rules engine that allows businesses to define complex logic and constraints for product configurations. This ensures that the configured products meet specific requirements, guiding users through the configuration process and preventing incompatible options. The quote management functionality also allows users to create, store, and manage quotes in a centralized system. Quotes can be easily accessed, modified, and tracked, providing visibility into the quote lifecycle and facilitating collaboration among sales teams.
Integrations include Salesforce, Shopify, Magento, SOLIDWORKS, Salesforce CPQ, Inventor, and Creo.
Pricing One-Liner: $150/user/month
Free Trial One-Liner: Live demo available
Pros
- Integration with CRM and ERP systems
- Powerful rules engine for accurate configurations
- Mobile access for sales teams on the go
Cons
- Steep learning curve
- Requires accurate data inputs for optimal performance
9. Prisync - Best pricing software for competitor price tracking
Prisync is a competitive price tracking and monitoring tool designed for ecommerce businesses. It helps companies keep track of their competitors' prices and product availability in real-time, enabling them to make informed pricing decisions and stay competitive in the market.
Why I picked Prisync: I chose Prisync because it provides businesses with comprehensive and real-time insights into their competitors' pricing strategies. By continuously monitoring competitor prices, Prisync enables companies to stay informed about market dynamics, identify pricing trends, and make data-driven decisions to maintain competitiveness.
Secondly, Prisync offers a user-friendly interface and intuitive features that make competitor price tracking accessible and efficient. The platform simplifies the process of gathering and analyzing pricing data, allowing businesses to easily track and compare competitor prices across multiple products and markets. This saves time and effort for businesses, enabling them to focus on strategic pricing adjustments and other critical aspects of their operations.
Additionally, Prisync offers customizable price alerts and notifications, which ensures that businesses are promptly informed about any changes in competitor pricing. This proactive approach empowers companies to respond swiftly to market fluctuations, adjust prices, and seize competitive opportunities.
Prisync Standout Features and Integrations
Standout features include product matching features that allows businesses to map their products to competitors' offerings accurately. This ensures precise tracking and comparison of pricing information for similar or identical products. Also, Prisync offers market insights and reports that go beyond competitor pricing data. These insights provide businesses with a broader understanding of market conditions, trends, and competitor behavior, facilitating strategic decision-making beyond pricing alone.
Integrations are available with various ecommerce platforms, including Shopify, Magento, and WooCommerce. Prisync also integrates with several business tools, such as Gorgias, Omniconvert, ShipBob, Recart, Cartloop, PageFly, and Wishpond.
Pricing One-Liner: From $99/month
Free Trial One-Liner: 14-day free trial
Pros
- Provides daily pricing updates
- Easy to use and maintain
- Customizable price alerts and notifications
Cons
- Lacks integration with Zapier
- Lacks discount management feature
10. Vendavo - Best pricing software for manufacturers and distributors
Vendavo is a cloud-based software that helps organizations optimize their pricing strategies. Vendavo's pricing software is used by companies across various industries, including manufacturing, distribution, chemicals, technology, and services.
Why I picked Vendavo: Vendavo is considered one of the best pricing software solutions for manufacturers and distributors for several reasons. Firstly, Vendavo's software offers robust analytics and optimization capabilities specifically tailored to the needs of manufacturers and distributors. It considers factors like production costs, supply chain dynamics, market demand, and competitive landscape to help businesses set optimal product prices.
Manufacturers and distributors often face complex pricing challenges due to changing input costs, fluctuating market conditions, and the need to balance profitability across multiple product lines or customer segments. Vendavo's software addresses these challenges by providing advanced analytics and machine learning algorithms that analyze large volumes of data to identify pricing opportunities and make data-driven pricing decisions. This enables manufacturers and distributors to maximize their profitability while remaining competitive in their respective markets.
Vendavo Standout Features and Integrations
Standout features include price management and deal management. Vendavo enables businesses to segment their customer base and analyze pricing dynamics within different customer segments. This allows companies to tailor their pricing strategies to specific customer groups. The deal management feature allows users to manage complex price negotiations and contracts effectively.
Integrations include Microsoft Dynamics, SugarCRM, and Salesforce CRM.
Pricing One-Liner: Pricing upon request
Free Trial One-Liner: Free demo available
Pros
- Advanced analytics and data-driven insights
- Tailored for manufacturers and distributors
- Integrates with enterprise systems
Cons
- Initial setup and implementation can be time-consuming
- Limited integrations
11. Zilliant - Best pricing software for improving margin performance
Zilliant's pricing software incorporates advanced analytics, artificial intelligence, and machine learning algorithms to provide companies with data-driven insights and recommendations for effective pricing decisions. It offers SaaS solutions for price optimization, segmentation, and guidance to assist companies in setting and managing prices that maximize profitability while remaining competitive in the market.
Why I picked Zilliant: Zilliant is often regarded as one of the best pricing software solutions for improving margin performance for several reasons. Firstly, Zilliant's software incorporates advanced analytics and machine learning algorithms, providing businesses with actionable insights to optimize pricing strategies. By analyzing factors such as customer behavior, market trends, and competitor pricing, Zilliant helps companies to identify pricing opportunities and make data-driven decisions to maximize margins.
Zilliant's pricing software goes beyond traditional pricing strategies by offering sophisticated price optimization capabilities. It considers various factors such as cost structures, demand elasticity, and market dynamics to determine the optimal prices that balance profitability and competitiveness. By leveraging these optimization capabilities, businesses can achieve better margin performance by setting prices that are aligned with their financial objectives.
Zilliant Standout Features and Integrations
Standout features include the rebate management feature that helps businesses manage and optimize their rebate programs. Zilliant's software allows companies to define and configure rebate programs based on various criteria, such as purchase volume, product categories, or customer segments.
Integrations include Salesforce CRM, Oracle, and SAP.
Pricing One-Liner: Pricing upon request
Free Trial One-Liner: Free demo available
Pros
- Advanced analytics and data-driven insights
- Robust price optimization capabilities
- Competitive pricing intelligence
Cons
- Learning curve for new users
- Support and maintenance may require additional resources
12. tgndata - Best pricing software for dynamic pricing
tgndata is a pricing tool that helps ecommerce businesses with price monitoring. It helps users access live data of their competitors' prices, product stock status, and market trends.
Why I picked tgndata: tgndata offers a dynamic pricing feature that helps businesses optimize their prices based on a set of predefined rules and competitor prices. It also takes into account the acquisition price, number of competitors, and stock availability.
One of the key advantages of tgndata is its ability to provide in-depth competitor analysis. By analyzing the complete product range of competitors and comparing it to your own, you can gain valuable insights into areas where your assortment requires optimization. This analysis helps you understand the strategic partnerships your competitors have established and provides a clear picture of how your assortment stacks up against theirs.
tgndata Standout Features and Integrations
Standout features include pricing analytics features, such as advanced filtering, category performance analytics, brand performance analytics, frequent price updates, price history analytics, and price points comparison.
Integrations include Salesforce, Microsoft Dynamics 365, Pricefx, and SAP.
Pricing One-Liner: Pricing upon request
Free Trial One-Liner: Free demo available
Pros
- Provides in-depth competitor analysis
- Shows live data of competitor's prices
- Customizable API
Cons
- Lacks transparent pricing
- Limited integrations
Other Options
Here are some other pricing tools that didn't make the list, but are worth checking out:
- Price2Spy - Best for competitive price monitoring
- Digital Sales Platform - Best for real-time pricing updates
- TrackStreet MAP Compliance Software - Best for revenue expansion
- Wiser Solutions - Best for ensuring Minimum Advertised Price (MAP) compliance
- Chetu - Best for competitive intelligence and real-time market data
- Conga - Best for custom pricing solutions
- Minderest - Best for analyzing market trends
- Sniffie - Best pricing automation features
Selection Criteria For Pricing Software
Here’s a short summary of the main selection and evaluation criteria I used to develop my list of the best pricing software for this article:
Core Functionality
In order to be considered for review, every tool on the list must cover the following basic functionality:
- Ability to set and adjust prices for products or services.
- Support for multiple pricing strategies, such as cost-plus, value-based, or competitive-based pricing.
Key Features
The essential features that pricing software should have are:
- Dynamic pricing: The software should enable businesses to dynamically adjust their prices based on factors such as demand, competition, and market conditions.
- Price optimization: It should use advanced algorithms and data analytics to optimize prices.
- Price elasticity analysis: Pricing software helps measure price sensitivity by analyzing historical sales data and customer behavior, providing insights into how price changes affect demand and revenue.
- Competitor price analysis: Pricing software provides tools to analyze and monitor competitors' prices.
Usability
When it comes to usability, pricing software should prioritize a cohesive user experience that goes beyond a basic interface.
Efficient price configuration features should be available, such as bulk updates and import/export capabilities. Interactive pricing visualizations, such as graphs or charts, can aid users in understanding pricing data.
Software Integrations
The pricing software should integrate seamlessly with other systems, such as customer relationship management (CRM), enterprise resource planning (ERP), and ecommerce platforms, ensuring smooth data flow and eliminating manual data entry.
Pricing
The pricing of the software should be transparent and aligned with the value provided. It should offer flexible pricing plans, considering factors such as the size of the business, usage requirements, and additional features or services.
People Also Ask
Below are the answers to some questions I get asked most often about pricing software:
What are the benefits of pricing software?
Who uses pricing software?
What is the difference between static and dynamic pricing?
Other Revenue Operations Software
Here are some other tools that will improve your workflow:
Conclusion
In the face of economic uncertainty, the importance of optimizing pricing strategies to maximize product margins cannot be overstated. With efficient and sustainable growth becoming a priority for investors and business owners, leveraging pricing tools has become crucial.
According to McKinsey's research team, 44% of high-growth companies already utilize pricing tools to iterate and refine their pricing strategies. Failing to invest in these tools means missing out on the opportunity to predict pricing outcomes and effectively address customer needs.
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