People generally don’t like buying a new car at sticker price, just as much they don't like paying list price for software. However, people are typically willing to pay more for higher quality and better features — whether it’s for a car or piece of software. So, how do you know if you're paying a fair price for what you're getting?
Renewing & purchasing software is often done with blindfolds on – without visibility into data!
In the case of buying a new vehicle, consumers have resources they can turn to, like Kelley Blue Book, gathering key insights to help them in their negotiation. When it comes to B2B software purchases and renewals though, buyers simply don’t know what they don’t know – lacking visibility and transparency into pricing data and lifecycle benchmarks to make sure they’re getting a competitive price and are choosing the right tool that will scale with their company.
Renewing and purchasing software can also be daunting for IT and finance leaders — with overwhelming choices, complex contracts, and ever-evolving pricing models. Navigating this landscape requires accurate data, deep insights, and a keen understanding of the software lifecycle. And the need to drive value and savings from informed software decisions has only increased in the current economic climate.
A solution for more confident decision-making, rooted in real contract data & review insights
Today, we’re introducing a solution that addresses this pressing challenge with G2 Track Purchase Reports, a new offering that provides IT, finance and procurement leaders with the insights needed to make confident software renewal and purchasing decisions.
For anyone not already familiar with G2 Track, it’s the market-leading SaaS management platform from G2. By combining G2 Track’s contract data with G2’s review data – including 2 million+ verified user reviews on 150,000+ products and services — G2 Track Purchase Reports deliver actionable insights and pricing benchmarks.
Gain access to all sorts of metrics & benchmarks: pricing, lifecycle, product switches, & more
What type of benchmarks do G2 Track Purchase Reports offer? A variety that can help IT and finance leaders understand the market and negotiate better deals, including:
- Software Pricing Benchmarks — One of the most significant challenges that IT leaders face when purchasing software is determining whether they are paying a fair price. G2 Track Purchase Reports solves this problem by providing software pricing benchmarks, giving IT leaders insight into aggregated and anonymized contract data on granular license types and costs for similar software solutions. With this data, IT leaders can determine whether they are paying a fair price for their software, negotiate better deals with vendors, and identify opportunities for cost savings.
- Software Lifecycle Benchmarks — Effective implementation and adoption of new software are critical to the success of any organization. G2 Track Purchase Reports offers detailed implementation and adoption benchmarks, serving up insights into how long it takes to implement specific software solutions and how well they are adopted within organizations. This valuable data can guide users in choosing the right software for their team, avoiding costly delays and maximizing productivity.
- Product Switch Stories — One of the most compelling aspects of G2 Track Purchase Reports is the inclusion of product switch stories. These narratives are anonymized real-world examples from decision-makers on why they transitioned from one software solution to another. By analyzing these stories, customers can gain insights into the reasons behind the switch, the challenges faced during the process, and the outcomes of the change. These product switch stories can help identify common pain points to better understand the factors that might lead to considering a software change. They also serve as cautionary tales, highlighting potential pitfalls and challenges to be aware of when making the decision to switch or renew software solutions.
More data, less problems
With G2 Track Purchase Reports, IT and finance teams can compare a specific software product against its top competitors in a given category to understand the relative value and benefits of each. Beyond pricing details, they can also gain insights into typical contract lengths and discount rates.
Ultimately, by providing valuable data and insights, these reports can help organizations make smarter decisions, negotiate better deals, and get more value from their technology investments. By quickly and easily accessing the information they need to make informed decisions, organizations also experience a time and resources savings that would otherwise be spent on research and analysis.
We also know that software is always evolving, just as each organization’s business is constantly changing. This means when it comes to software contracts, pricing structures, features, and terms can shift rapidly — making it challenging to determine if a solution purchased today will still be the right fit down the road. Fortunately, with G2 Track Purchase Reports, users can segment and understand these insights relative to the size of their business today and what to expect it to be in the future.
Start optimizing your SaaS purchases and renewals today
Visit our website to demo G2 Track Purchase Reports and learn more about how to gain access to expert knowledge and pricing benchmarks — so you’ll no longer be at a disadvantage when it comes to understanding the true cost of the software you’re considering.
by Tim Handorf
by Rachel G
