Pricing strategy · Software tools

Best pricing optimization software?

Sadie Gilmore Senior Software Engineer at Torque

December 15th, 2015

As an ecommerce startup, it is key to keep up with our competitors pricing strategies/changes on the market. Which pricing optimization software do you find the most beneficial and helpful for tracking competitors pricing? (Prisync, Repricer Express, EReprice) Are there other optimization software tools I should consider in order to ensure my pricing is at a competitive rate?


Frank Melander CMO & Cofounder

Last updated on November 29th, 2018

First let me start with a disclaimer, I work for a price management & optimization software provider (PriceEdge). Anywho, I would like to share some insights I’ve gained over the last years as a Pricing Manager and what types of software that’s out there. Hope it sheds some light.

For competitor price tracking only, there are hundreds of options in the market as the online scraping capabilities have become extremely commoditized during the last 10 years.

The established players I typically run into that does this are:

  • eReprice - built for Amazon repricing
  • Prisync - built for competitor price tracking & monitoring
  • Repricerexpress - built for Amazon repricing
  • Price2Spy - built for competitor price tracking
  • Priceintelligently - built for competitor price tracking & monitoring
  • Competitoor - built for competitive monitoring

But like I mentioned there a plenty of other players doing this. A good place to find more of them would be here

If you are looking for more than just keeping tabs on your competitors, there are also a set of providers that offers that and more, including more or less dynamic pricing, in some cases also “AI” (typically ML-based).

The established players I would highlight here are:

  • PriceEdge – an all-in-one platform for pricing
  • Boomerang Commerce – a price performance management tool
  • Blue Yonder - AI solution for retail pricing
  • Wiser - a price analytics solution for retailers
  • 360pi – a product assortment analysis and pricing intelligence tool
  • Upstream Commerce - provides a cloud-based, automated competitive pricing tool (just got bought by FlipKart)

In addition to these ones there are also a set of what I would call “fortune 500” providers that offers pricing capabilities.

Here I would put:

  • Vendavo – CPQ software including pricing optimization
  • Pros – a dynamic AI platform that includes some pricing capabilities
  • Zilliant –customer experience software that includes pricing tools
  • Vistex – revenue & profitability software with SAP focus

I’m sure I missed some players, but this list should be a good starting point and set you off in the right direction.

Michael Haupt Strategist, speaker, mentor, advisor | Creator of The 2100 Pendulum - a simple model to explain today & predict tomorrow

December 16th, 2015

These are the companies I usually evaluate for my clients:

http://www.priceintelligently.com We help SaaS leaders align the right product to the right customer for the right price in order to boost revenue and learn more about their customer.
http://www.ibm.com/ibmprice-optimization Designed to enable retailers to optimize base prices to achieve their sales, volume, profit and price image objectives for regular, everyday items.
http://perfectprice.io Perfect Price delivers price optimization as a service, leveraging machine learning expertise previously applied at Twitter, Microsoft, and Disney. With less than an hour of setup, a company can start to leverage their proprietary data, third party data, and customer interactions to price everything right.
http://www.pros.com PROS helps you use your big data to sell better.
http://www.vendavo.com More than pricing optimization, Global 2000 leaders need visibility into every deal, every contract and every sale to continuously maximize margin and profit at every moment. What Vendavo offers in margin and profit optimization is unparalleled and directly tied to your success.
http://www.zilliant.com Zilliant Gives the Best Answers to Everyday Sales Decisions:Who to Call, Which Products to Pitch, What Prices to Quote
 

Karl Laughton VP of Finance at Insightly

December 15th, 2015

We use Price Intelligently and love the team, framework, and support they've given us. I would recommend them to anyone trying to optimize their pricing strategy/ monetization model. 

@PriceIntel #Profitwell @Insightlyapp #Insightly

Tim Kilroy Analytics - LTV - Boosting Profits - Digital Marketing

December 16th, 2015

There are a bunch of fantastic services in the space - we've worked with www.wiser.com and www.360pi.com on a shared client or two - however, these services are often really expensive (thousands per month). A quick and dirty way that we have seen to monitor prices is to pull down pricing from Amazon API - and stay within a fixed percentage of the lowest price. (A large e-commerce retailer I worked for tried to stay within 6% of the lowest price on Amazon - they found that kept them in the purchase consideration game).

Rest weru

December 15th, 2015

I'm currently working in a project which will optimize not actually the pricing, but the payment processing, giving you the ability to have accounts in multiple payment platforms (paypal, stripe, dwolla, etc.) and when a payment is done, our platform chooses the best option to process it. 
It optimizes your operation with easily, automatically, and without cost to you (platform setup and use is free).
Contact me if you are interested.

Ajo Fod Founder of Quantprice

December 16th, 2015

Pricing right is extremely valuable.
My blog post discusses a recent interview on this issue.
If you're on Shopify, we have a FREE pricing app for a limited time.
Contact me at [removed to protect privacy] to learn more.

Caitlin Bolnick

December 16th, 2015

Hey Sadie,

We're happy to make an introduction for you to Price Intelligently's CEO if you are interested. Our company, VENTUREAPP, is a network for entrepreneurs to gain access to the best solution providers at no cost. If you are interested let me know and happy to make that connection. Thanks! 

Best,
Caitlin