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Procurement Market Intelligence Report

Incentive Management Software
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Incentive Management Software?

What is the average price of Incentive Management Software?

This procurement report includes pricing information to help you purchase Incentive Management Software. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Incentive Management Software been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Incentive Management Software yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Incentive Management Software?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Incentive Management Software with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase ?

Market share concentration in the incentive management software market is low, with the top four suppliers making up less than 30.0% of total revenue. There are about 100 suppliers in the market, including both large diversified software publishers and small startups. Incentive management software is a fairly new product and... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Experience and Expertise

How long have you provided these products to your longest-tenured client?

What qualifications does your staff have and what measures do you take to keep those qualifications up to date?

What industry do you most commonly supply this product for?

To what extent will ordering multiple products from your firm allow me to save on costs?

What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?

Supply Chain Risk

Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?

Has the availability of raw materials tightened due to the coronavirus outbreak?

Over the past three years, what percentage of your revenue has been dedicated to labor?

How have fluctuations in input prices affected the prices of your products during the past three years?

How do you mitigate sudden price increases in raw materials?

When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?

How, if at all, has your supply chain been affected by import tariffs levied in 2018?

Regulation

How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?

How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?

What ongoing training procedures do you provide for your staff?

Have you ever been found to be noncompliant with regulatory frameworks?

Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

Customer Support

How have customer complaints and suggestions led you to change your incentive management software?

What is your client renewal or repeat business rate? Why do companies renew their contracts with your business?

How do you evaluate customer satisfaction? How frequently? Is this information made available to clients?

If your client is not satisfied, what steps do you take to address the issue?

COVID-19 (coronavirus)

Do you use computers or software with high exposure to market disruptions resulting from the coronavirus? How are you coping with these disruptions?

How diversified is your supplier base for equipment used in software development? Do you source from multiple suppliers in different global regions?

Amidst widespread health concerns, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

Are you experiencing fluctuations in demand as a result of the coronavirus outbreak? What measures are you taking to handle increased/reduced demand?

Analytics

What data does your software use to create models or forecasts?

Can your software model different incentive compensation programs and their effects on sales?

Does your software track incentives and payments in real time?

How does your software track the best and worst performers in the company?

Integration

How does your software integrate with CRM or sales management software?

What other software products do you sell in addition to incentive management software?

Do you develop software programs together with other software publishers? If so, how does collaboration improve your product?

Is it possible to access your software on other devices, such as smartphones and tablets?

Scalability

How quickly can you add new users to the software?

Can users in different locations be added to my account?

What is the maximum number of salespeople that your software can manage?

How do subscription costs change as more users are added?

Security

What servers do you use to host your software and data?

What authentication or security options do you use to prevent unauthorized access?

Has your data ever been breached, and how was this resolved?

Does your system offer the ability to restrict access for certain users?

Installation

Have you ever had any complications during the installation process?

Do you provide technical staff that can install and manage the software on site?

Can you provide training to explain how to properly use the software? How much would this service cost?

How is installation time affected if I purchase other software products?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should specify the total budget for their software purchase.

Buyers should include details about per-user spending expectations and limitations.

Buyers should request detailed information about software delivery methods and costs.

Selection Criteria

Buyers should look for providers that can offer software that meets the specifications outlined in the RFP.

Buyers should give preference to providers that can meet their budget requirements.

Buyers should look for suppliers that have a reputation for providing reliable and effective software.

For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers need to include the date when proposals are due.

Buyers should indicate the date by which the software needs to be installed.

Buyers should indicate how they want the software delivered or installed.

Evaluate major factors to mitigate risk

How risky is the supply chain?

Incentive management software providers do not depend on any critical inputs to ensure the production and delivery of their service, resulting in a low level of supply chain risk. Rather, the greatest risk for providers comes from the need to hire and retain qualified programmers. Hiring qualified staff can be... Subscribe to learn more.

HIGH

MEDIUM

LOW