Last Updated
The Best Pricing Optimization Software Companies of 2021
How We Chose the Best Pricing Optimization Software
Businesses sometimes adjust prices to gauge the effect on sales and customer conversion. This practice aids in maximizing profits, testing the waters to see whether they should increase or lower the selling price. The best pricing optimization software aids in determining which rates to sell at, based on several factors.
We’ve developed a buyer’s guide so you can analyze which system will work best for your company. Here are a few features we investigated when choosing the 15 best pricing optimization software products.
Price Optimization Features
The top functionality we studied consists of price optimization tools. We prefer software that delivers as many features as possible in a single package, rather than pay for add-ons. When looking at what the companies have to offer, we made sure to see whether they included these.
Here are the features we analyzed for our mini-reviews:
- Dynamic pricing
- Competitor analysis
- Predictive pricing models
- Profitability analysis
- Custom pricing rules
Integrations
Many of the best pricing optimization software programs contain specific integrations to other systems, such as automated tools or payment gateways. These tools provide better workflow or add functions that aren’t part of the basic package.
A few integrations you may find include:
- Competitor tracking
- ERP
- Pricing algorithms
- Global currencies and payment gateways
Reports
Reports do more than merely show you how well your business is performing. When it comes to the best pricing optimization software, you may find additional insights, specifically regarding which rates the clients enjoyed.
Here’s a look at a few reporting models:
- Graphs and charts
- Product overviews
- Feedback
- Pricing strategies
- Customer satisfaction gaps
The 15 Best Pricing Optimization Software of 2021
Blue Yonder Luminate Commerce
Blue Yonder provides several services that deal with supply chain management with numerous solutions at the helm. The Luminate Planning module helps predict scenarios that may impact your business, while the Luminate Logistics deals with transport, packaging, and distribution. When it comes to the best pricing optimization software, you’ll want to check out Luminate Commerce.
AI/ML forecasting and insights drive the platform, giving your team the power to monitor and adapt your prices and inventory to meet market trends. An omnichannel system aids in meeting user desires, with a keen focus on fulfillment tools. The benefits of this utility include transparency, increased orders, better conversion rates, and larger customer acquisitions.
Features include:
- Real-time inventory management
- Digital fulfillment
- Store operations
- Profitability modules
- Assortment manager
- Store execution
There aren’t pricing plans indicated on the website, so you’ll need to request a quote. You can try out a free demo if you’re unsure if it will meet your business needs. The deployment is on Windows and Mac computers, as well as having a web-based option.
| Price | Free Trial/Demo | Features |
|---|---|---|
| Custom Quote | Free Demo Only | >Deployment: Mac, Windows, web-based >Support: Live, phone, email, online >Competitor analysis >More features at Blue Yonder Luminate Commerce |
Pros & Cons of Blue Yonder Luminate Commerce Pricing Optimization Software
| Pros | Cons |
|---|---|
| >Dynamic pricing >Predictive pricing models >Numerous integrations | >No custom pricing rules >Few reporting tools |
Competera
Here’s another company that many businesses marvel at when it comes to the product variety. SKU Journey assists with product missions, while the Smart Rules engine drives pricing logic for the best market value. There’s also a demand-based engine that considers the customer’s concerns when evaluating responses to product rates.
The best pricing optimization software tool in its armory is the Pricing Automation engine. You can reduce rates by up to 50% if there’s a need in the relevant industry. The formula is also based on elasticity, creating a combination of rules geared towards your business objectives.
Features include:
- Ad hoc reprising
- Automated batch reprising
- Self-service configurations
- Price-crafting transparency
- Advanced alert system
You’ll need to subscribe to a monthly fee to use Competera’s services, which you can adjust if you need additional functionality. There’s a 14-day trial for you to test the system, while you’ll receive support via phone, email and online through the live chat.
| Price | Free Trial/Demo | Features |
|---|---|---|
| $114/month | 14-Day Free Trial | >Deployment: Web-based >Support: Live, phone, email >Custom pricing rules >More features at Competera |
Pros & Cons of Competera Pricing Optimization Software
| Pros | Cons |
|---|---|
| >Advanced reports >Competitor analysis >Dynamic pricing | >Only web-based deployment |
Dynamic Pricing
Besides offering some of the best pricing optimization tools, Omnia Retailers has several programs for brands and commercial entities. Pricewatch creates alerts for your competitors’ rates, giving you access to a wealth of data to analyze. It also works towards fulfilling your customers’ demand for top product rates.
The Dynamic Pricing module lets you determine better strategies for sales. You can automate goals and adjustments on a large scale, covering your inventory as much as possible. After collecting sufficient market data, it can calculate which rates you should change to achieve an improved bottom line.
Features include:
- Flexibility and freedom for price elasticity
- Customizable pricing rules
- Complete transparency
- Online tools and guides
- Automated pricing strategies
If you’re looking for prices, you’ll need to contact Omnia and describe your requirements. There’s also a free trial for testing the software integrations with your platforms. The deployment is web-based, while you’ll receive email, phone, and live support.
| Price | Free Trial/Demo | Features |
|---|---|---|
| Custom Quote | Free Trial | >Deployment: Web-based >Support: Live, phone, email >Dynamic pricing >More features at Dynamic Pricing |
Pros & Cons of Dynamic Pricing Pricing Optimization Software
| Pros | Cons |
|---|---|
| >Competitor analysis >Profitability analysis | >Few reporting types >No predictive pricing models |
Incompetitor
Intelligence Node has three products to help you stay ahead in your industry. Infeed grants you access to an extensive library of information regarding market prices, delivered by automation APIs. Inoptimizer uses the same data to adjust your company’s prices to ensure you have the best rates in your location and online.
Incompetitor is the final module, offering the best pricing optimization software functions. It has built-in strategies to evaluate whether your rates are too high or too low. You can use the various dashboards it produces to set benchmarks for different product categories, ensuring you don’t miss out on sales opportunities.
Features include:
- Price benchmarking
- Transparency and brand visibility
- Matching rich attributes
- Granular analytics
- Product life cycle
- MAP monitoring
While there are no standard prices mentioned on the website, you can test the system through the free demo. It’ll give you an idea as to whether it’s compatible with your business goals. However, there’s only a web-based solution at the moment.
| Price | Free Trial/Demo | Features |
|---|---|---|
| Custom Quote | Free Demo Only | >Deployment: Web-based >Support: Live >Predictive pricing models >More features at Incompetitor |
Pros & Cons of Incompetitor Pricing Optimization Software
| Pros | Cons |
|---|---|
| >System integrations >Dynamic pricing >Competitor analysis | >Custom pricing rules >Few reporting models |
Perfect Price
Perfect Price’s best pricing optimization software caters to two different markets. The first one is Pricing Teams, helping businesses with plenty of branches get a grip on industry changes and trends. It also has solutions for Vacation Rental, delivering a service to property management entities that lease out holiday homes.
Artificial Intelligence steers dynamic pricing automation, predicting rates for up to two years. It records essential data during peak times so you can use the information for off-peak periods. In that way, you’re assured of a healthy turnover, whether during busy and quiet seasons.
Features include:
- Market insights driven by data
- Occupancy maximization
- Determine your pricing strategy
- Webinars and guides
- ROI calculations
Two payment plans are offered, depending on how many properties you own and the functions you want to include. If neither of these packages suits your needs, you can contact the company for a specialized quote. The platform is web-based, and you’ll receive live support or contact via email and phone.
| Price | Free Trial/Demo | Features |
|---|---|---|
| Perfect: $10/property/month Professional: $15/property/month Enterprise: Custom Quote | 30-Day Free Trial | >Deployment: Web-based >Support: Phone, email, live >Various integrations >More features at Perfect Price |
Pros & Cons of Perfect Price Pricing Optimization Software
| Pros | Cons |
|---|---|
| >Dynamic pricing >Competitor analysis >Profitability evaluation | >Few reporting tools >No custom pricing rules |
Price2Spy Pricing Optimization Software
Price2Spy hosts the best pricing optimization software for numerous industries. Whether you service pet, automotive, or baby markets, it has several solutions available from which you can choose. It also has a specific focus on retailers, manufacturers, brands, and distributors.
The platform has a Price Matrix that you can evaluate to determine which of your competitors are selling high and low. You’ll also receive a comprehensive dashboard with valuable insights and graphs. There’s even historical reporting, taking you back in time to see how trends have affected sales.
Features include:
- Price change notifications
- Smart spidering
- API integrations
- Fast price comparisons
- Full market view
- Alert mechanisms
You’ll find various plans available at a monthly subscription, the main differences set at function selection and daily traffic limits. You can test the system with a 30-day free trial, and you’ll receive support via email or online with the live chat. It’s deployed on Windows and Mac computers, mobile devices, and the web.
| Price | Free Trial/Demo | Features |
|---|---|---|
| Price2Spy Basic: $19.95-$499.95 Price2Spy Premium: $39.95-$999.95 Price2Spy Enterprise: Custom Quote | 30-Day Free Trial | >Deployment: Mac, Windows, web-based, iPhone/iPad, Android >Support: Email, live >Dynamic pricing >More features at Price2Spy |
Pros & Cons of Price2Spy Pricing Optimization Software
| Pros | Cons |
|---|---|
| >Custom pricing rules >Predictive pricing models >Competitor analysis | >No 24/7 support |
Prisync
Prisync’s software solutions cover various functions depending on what you’re looking for, such as price checking, matching, scraping, and watching. All you need to do is add your products and competitors and let the system do the rest. Once the information returns, you can access the dashboard to analyze current market rates and see if you should change your strategy.
The user interface contains a complete overview, presenting factors like price changes, stock availability, tracking summaries and your global market position. There’s also MAP monitoring for instant alerts for any rates lower than yours. It’s an efficient system with quick feedback to help you make fast decisions.
Features include:
- Distributed technology
- Transparent trial
- Undetectable bots
- Bulk data management
- Stock availability tracking
There are three payment plans, with prices based on how many products you’re listing on the system. The number of features also changes since a more extensive inventory will require more tools. However, the most affordable package doesn’t include API integrations.
| Price | Free Trial/Demo | Features |
|---|---|---|
| Professional: $59/month Premium: $129/month Platinum: $229/month | 14-Day Free Trial | >Deployment: Web-based >Support: Email, live >Profitability analysis >More features at Prisync |
Pros & Cons of Prisync Pricing Optimization Software
| Pros | Cons |
|---|---|
| >Numerous integrations >Various reporting tools >Dynamic pricing | >Only web-based deployment |
PROS
If you’re wondering if PROS software is any good, you can have a look at the multiple awards it’s received. The Leader Summer 2020 and Martech Breakthrough 2019 trophies are top of the range, establishing it as an industry leader. Its top tool is the statistical algorithm that fine-tunes differentiated monetization values.
PROS prefers providing quality services, which is why it focuses on customer engagement. It has an effortless onboarding process that’ll have you up and running in a short time. There’s a detailed welcome package presenting guidelines on how to plan for changes in market prices.
Features include:
- Smart science algorithms
- Central price governance
- AI-powered strategies
- Scalable program
- Customer and contract channels
With no pricing models displayed on the site, you’ll have to request a quote tailored to your needs. You can also try out the free demo or contact the support team via email, phone, or live support. Feel free also to inspect the different reporting tools available.
| Price | Free Trial/Demo | Features |
|---|---|---|
| Custom Quote | Free Demo Only | >Deployment: Web-based >Support: Email, phone, live >Advanced reporting >More features at PROS |
Pros & Cons of PROS Pricing Optimization Software
| Pros | Cons |
|---|---|
| >Competitor analysis >Predictive pricing models >Several integrations | >Only web-based deployment |
Revionics
Revionics aims to deliver targeted promoting and marketing analytics to transform your team into industry strategists. The pricing adjustments are driven by scientific technology, ensuring you get the best data. The Competitive Insights module also helps you find the best product matches to assess where you need to change your rates.
Once you have a better idea of consumer and product behavior, you can create tailored markdowns to meet their needs and beat the competition. The automated price adjustments aren’t one-offs, as the system will regularly update them over the product’s life cycle. You’ll also have a better chance of determining your possible ROI.
Features include:
- Tailored markdowns
- Automated adjustments
- Quantifiable ROI
- Fast response times
- Predictive planning
You can request a free demo if you want to try the system out. The site doesn’t list any prices, so you’ll have to ask for a quote customized for your experience. You can contact the support during business hours on email or phone.
| Price | Free Trial/Demo | Features |
|---|---|---|
| Custom Quote | Free Demo Only | >Deployment: Web-based >Support: Email, phone >Custom pricing rules >More features at Revionics |
Pros & Cons of Revionics Pricing Optimization Software
| Pros | Cons |
|---|---|
| >Various integrations >Dynamic pricing >Predictive pricing models | >Few reporting tools |
SellerActive
SellerActive prides itself on providing the best optimization software for e-commerce businesses. It simplifies the online selling experience while monitoring the internet for competitor prices. The most beneficial feature is the bulk listings tool, sending your products to several marketplaces and giving you the chance to edit them at a later stage when rates change.
It also boasts a multichannel inventory synchronization function. If you run out of stock, every listing will update simultaneously to inform potential clients. The same applies when you restock or have news about product details.
Features include:
- Intuitive uploading
- Automatic repricing
- Product bundling
- Item tagging
- FBA integration
- Inventory and order management
There are numerous plans for SellerActive, rising in monthly price based on your gross merchandise value. You can try out the free demo to better understand how the product works and if it adds any value to your business. For support, you have email and phone options.
| Price | Free Trial/Demo | Features |
|---|---|---|
| Basic: $79/month Premium: $179/month Plus: $299/month Pro Plans: Custom Quote | Free Demo Only | >Deployment: Web-based >Support: Email, phone >Profitability analysis >More features at SellerActive |
Pros & Cons of SellerActive Pricing Optimization Software
| Pros | Cons |
|---|---|
| >Several integrations >Various reporting tools >Dynamic pricing | >No predictive pricing models >No custom pricing rules |
Skuuudle
This company’s software works on data collection on the internet. You select the frequency you want to receive information and the system automatically reacts to any website alterations. It’ll also link your products to competitors’ so you’ll obtain alerts when there are more competitive prices.
The valuable insight aids you to act quickly, ensuring that you respond to over- and underpriced products. Market trends will inform you when it’s time to increase your rates. In that way, you can prevent losses when your expenses run too high or you have overvalued stock.
Features include:
- Product matching
- Quality control
- Advanced analytics
- Competitor tracking
- Performance monitoring
- Inventory dashboard
Since the only deployment is web-based, you don’t need to install any programs on your server or computer. There are three different price plans, but you have the option to ask for a custom quote. If you’re worried about the system’s efficacy, you can sign up for a free trial.
| Price | Free Trial/Demo | Features |
|---|---|---|
| Essential: $89/month Professional: $199/month Corporate: $999/month Enterprise: Custom Quote | Free Trial | >Deployment: Web-based >Support: Email, phone >System integrations >More features at Skuuudle |
Pros & Cons of Skuuudle Pricing Optimization Software
| Pros | Cons |
|---|---|
| >Profitability analysis >Competitor analysis >Predictive pricing models | >Few reporting tools >No custom pricing rules |
Vendavo
Vendavo’s motto will appeal to every poet’s heart with pure alliteration; “maximize every margin moment.” It unifies the front- and back-office components with the “proactive pursuit of profitability.” When it comes to the best pricing optimization software solutions, you’ll find PricePoint, Deal Price Guidance, Profit Analyzer, and a Margin Bridge evaluation.
One of the benefits of working with Vendavo is that it attempts to eliminate costs that lower your profit margin. It focuses on delivering the right product to clients when they need it most. Moreover, it studies the market to ensure you have the best prices.
Features include:
- Price control
- Value consulting
- e-commerce solutions
- Technological integrations
- Profit analysis
There’s a free demo available to test the system, but you’ll need to ask for a quote to receive the monthly cost. Vendavo has several platform deployments, including mobile apps in the mix.
| Price | Free Trial/Demo | Features |
|---|---|---|
| Custom Quote | Free Demo Only | >Deployment: Web-based, iPhone/iPad, Android >Support: Email, phone, live >Profitability analysis >More features at Vendavo |
Pros & Cons of Vendavo Pricing Optimization Software
| Pros | Cons |
|---|---|
| >Competitor analysis >Predictive pricing models >Various reporting tools | >No custom pricing rules |
Verenia
Verenia combines CPQ, CRM, and e-commerce to bring you the best in pricing optimization software. A significant focus of the company is increasing sales through automated quoting. While it may improve your revenue stream, it’ll also lower your expenses to increase the desired profit margin.
You won’t have to wait long for the system to install. The expert team will guide you from the start by utilizing the software and modifying it to meet the corporate objectives. Moreover, you can enjoy numerous integrations that’ll pave the way to success, such as Verenia for NetSuite.
Features include:
- Promotional tools
- Manufacturing CRM
- Wholesale price models
- ROI calculator
- 3D environment
You won’t find prices listed on the site, so you’ll need to ask for a quote based on your needs. There’s a lengthy 30-day trial, giving you enough time to try it out. Unfortunately, the only deployment is on the web.
| Price | Free Trial/Demo | Features |
|---|---|---|
| Custom Quote | 30-Day Free Trial | >Deployment: Web-based >Support: Email, phone, live >System integrations >More features at Verenia |
Pros & Cons of Verenia Pricing Optimization Software
| Pros | Cons |
|---|---|
| >Live support | >No dynamic pricing |
WisePricer
WisePricer believes that pricing optimization begins by understanding your competitors’ rate strategies and models. Using its software to study market trends, you’ll know when to increase or decrease your prices. The primary model it provides for this purpose is Pricing Intelligence.
You’ll receive daily updates in a data matrix with information from various sources, such as online marketplaces, e-commerce comparison engines, and merchant websites. You can also access their product details on different channels to ensure you don’t miss any deals. It presents all the data on a graphical chart for easy analysis.
Features include:
- Price intelligence
- Retail auditing
- Dynamic prices
- MAP monitoring
- Seller intelligence
You’ll only find deployment on the web, while support is available on the phone and live support. There are no listed package plans, so you’ll have to ask for a quote or test the free demo.
| Price | Free Trial/Demo | Features |
|---|---|---|
| Custom Quote | Free Demo Only | >Deployment: Web-based >Support: Phone, live >Competitor analysis >More features at WisePricer |
Pros & Cons of WisePricer Optimization Software
| Pros | Cons |
|---|---|
| >Integration systems >Profitability analysis >Dynamic pricing | >Few reporting tools |
Zilliant
Zilliant offers various solutions, depending on what your needs are. The sales section has a planner and a shopping cart, while the platform manager aids you with campaigns and integrations. The segment you’ll be interested in for improved rates is PriceIQ.
Its goal is to utilize dynamic pricing to increase your profit margin. It simplifies the complexity of the system so you can make more effective decisions. Ultimately, it measures elasticity, influencing factors. It performs these tasks over different price types in various industries.
Features include:
- Omnichannel pricing
- Predictive pricing
- Real-time market comparisons
- E-commerce distribution
Zilliant is another product with singular deployment on the web, with email and phone support. You can try the free trial to test the system’s compatibility, but you’ll need to contact the company for prices.
| Price | Free Trial/Demo | Features |
|---|---|---|
| Custom Quote | Free Trial | >Deployment: Web-based >Support: Email, phone >Custom pricing rules >More features at Zilliant |
Pros & Cons of Zilliant Pricing Optimization Software
| Pros | Cons |
|---|---|
| >Integrations >Dynamic pricing | >Few reporting tools |
What Is Pricing Optimization Software?
Pricing optimization software helps sales businesses to determine at what rate they should sell their products. The goods might be of higher value, and customers may be willing to pay more for them. Conversely, clients may feel that they cost too much and you may need to lower the price.
The system works by drawing in data from reports, surveys, demographic analyses, and sales feedback. It makes use of modern technological advances, such as big data, machine learning, and artificial intelligence, to aid you in deciding where to set the price. You’ll find a mix of tools working together for the best results.
Understanding which combination will suit your needs requires an assessment of your business type. For example, Business-to-Consumer (B2C) entities have silo price assessments with complex calculations for market-specific rates. The software analyzes buying behavior to gauge how sensitive buyers are to the current price.
Business-to-Business (B2B) models work differently. Product volumes are much lower than B2C companies, creating less information to analyze. It’s more challenging to study the other businesses’ purchasing patterns, which is why B2B entities target CPQ software more than price optimization software.
Benefits of Pricing Optimization Software
If you’re still on the fence about whether you should sign up for any of the best pricing optimization software we’ve listed, here are a few benefits to consider:
- Price consistency: The system’s automated functions ensure similar products have the same price range, avoiding client frustration at unjustified variances. It also prevents human error in entering the wrong unit figures and creating a massive discrepancy when clients place bulk orders.
- Bottom line growth: Since the software estimates the best price point that will appeal to potential buyers, you’re more likely to receive a boost in sales. You can align it to different campaigns, targeting specific clientele during seasonal occasions.
- Faster decision-making: Having all the latest facts at your disposal speeds up decision-making for the right price shifts. Automated recommendations mean cutting down on planning meetings or long-term manual labor.
- Streamlined processes: With your tasks running automatically, your team has more time to focus on the core business. Functions run more smoothly, while you retain your corporate image by altering prices at the right time.
- Aligns with corporate objectives:You can set category management settings to align with your business plan and goals. It usually deals with inventory management and promotions, but you can set the pricing software to align with your latest strategies.
Must-Have Features of Pricing Optimization Software
When you start hunting for the best pricing optimization software, be sure to look out for these features:
- Dynamic pricing: Markets change daily depending on several factors, such as stock availability, demand for services, and competitor rates. Dynamic pricing models contain algorithms that monitor market trends and automatically adjust your retail selling price accordingly.
- Competitor analysis: It’s healthy for any business to know what its opponents are up to in the industry. The best pricing optimization software comes with a tool that analyzes the current market prices and recommends whether you should raise or lower your rates.
- Predictive pricing models: It isn’t an easy task knowing the effect price changes will have on profit margins. Predictive pricing models solve this issue by calculating proposed rates and determining the possible influence on sales.
- Profitability analysis: Every company’s primary goal in the commercial sector is to make a profit. This tool helps you determine what your current income levels are and which outputs to alter for the best revenue based on current market trends.
- Custom pricing rules: This function comes into play when addressing specific client needs. It uses logic from the customer’s input to derive a new fee or rate, based on certain criteria.
The Cost of Pricing Optimization Software
We’ve seen many providers indicate that you’ll need to request a quote for a price plan. In these situations, there are several features you can select to build a custom setup. Therefore, the rate will depend on your choices.
There are plenty of monthly subscription options, which means that you’ll pay as long as you use the system. While some companies offer a flat rate, others have various plans you can choose based on your needs. We’ve seen costs of between $10 and $1,299 per month, which sometimes caters to a single user license instead of the entire business.