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Procurement Market Intelligence Report

Voice Recognition Software
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Voice Recognition Software?

What is the average price of Voice Recognition Software?

This procurement report includes pricing information to help you purchase Voice Recognition 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 Voice Recognition 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 Voice Recognition 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 Voice Recognition 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 Voice Recognition 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 Voice Recognition Software?

Market share concentration in the voice recognition software market is high; the paid, standalone voice recognition software market consists of about 80 vendors, with the top four by revenue accounting for more than 50.0% of total market revenue. Nuance alone controls nearly 30.0% of the market due to the company's... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Support

Do you offer higher levels of support for additional cost?

How necessary is guided support for new users?

How quickly do you respond to the typical support request?

What percentage of your users contact customer support with issues?

Multiplatform Capabilities

Can a single license be used to install your program on multiple devices?

Does your software package include a program for mobile phones?

Can mobile software be purchased separately?

Is there a functionality difference between different platforms?

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Key elements for every RFP

What should my Voice Recognition Software RFP include?

Project Budget

Buyers should specify their budget for purchasing voice recognition software.

Buyers should specify their preferred terms for invoicing and payment.

Buyers should explain whether they wish to bundle any other software solutions with their purchase of voice recognition software to achieve a discount.

Buyers can reference the Benchmark Price section of this report to verify that they are receiving a competitive price for their software purchase.

Selection Criteria

Buyers should evaluate providers based on whether their voice recognition software offers the desired accuracy and features.

Buyers should consider the usability and learning curve of the voice recognition software during the evaluation process.

Buyers should evaluate the quality of providers’ customer and technical support.

Buyers can reference the Buying-Decision Scorecard section of this report for additional selection criteria.

Project Schedule

Buyers should specify the final date by which proposals must be submitted for consideration.

Buyers should include the deadline by which they expect the voice recognition software to be implemented.

Buyers should provide the date when vendors will be notified about contract awards.

Buyers should indicate the date by which they expect demos to occur, if applicable.

Evaluate major factors to mitigate risk

How risky is the Voice Recognition Software supply chain?

Voice recognition software publishers face little risk of input price shocks or service disruptions due to upstream supply issues, enhancing buyer confidence in the supply chain and increasing buyers' supplier options. The cost of the hardware necessary to develop voice recognition software has been in a state of long-term decline... Subscribe to learn more.

HIGH

MEDIUM

LOW