Customer Relationship Management (CRM) Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Every organization and its procurement team look forward to negotiating the best deal while procuring a set of products or subscribing to services. Rate benchmarking involves price/cost comparison of more than one set of products/services to analyze the most efficient combination that can potentially help the procurement team in getting the optimum rate.

When analyzing rate benchmarking of customer relationship management, the complexity of the software, the number of users, and the add-ons to be included play a crucial role. In our study, we have analyzed the rate of different CRM software providers. The starting price of the software of Pipedrive can range from USD 14.9 to USD 99 per user per month. The rate of software of Zoho CRM can vary between USD 14 to USD 57 per user per month. Similarly, the rate of HubSpot software can range from USD 9 to USD 120 per user per month.

In U.S. hourly cost to hire a software developer is between USD 220 to USD 330/hr. In Mexico, it ranges from USD 150 to USD 250/hr. and in Canada the rate to hire starts from USD 180 to USD 230/hr.

In Western Europe, the hourly rate of frontend developers is between USD 60 to 80, backend developers range from USD 70 to 85, and IOS developers range from USD 75 to 95. Similarly, for UI/UX designers are between USD 45 to 60.

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Labor cost is one of the key components of the total incurred costs while offering a product or service. Therefore, an organization must decide on whether the focus category should be retained in-house or outsourced if the organization is providing its products or services at competitive prices. If the organization decides in favor of outsourcing, it must understand the difference in the salary structures of suppliers before selecting a supplier and formulating a negotiation strategy.

According to our research, the software engineer at Salesforce Inc. receives a 5% - 6% higher base salary compared to the salary received by the software engineer working in companies such as Pipedrive, and HubSpot, Inc. However, the year-on-year increment rate in all these companies majorly depends on the Key Result Areas (KRAs).

Organizations may find it cumbersome to continuously track all the latest developments in their supplier landscape. Outsourcing the activities related to gathering intelligence allows organizations to focus on their core offerings. At this juncture, our newsletter service can help organizations stay updated with the latest developments and innovations and subsequently assist in preventing disruptions in the supply chain. We have identified the following developments within the customer relationship management category over the last two years:

In July 2023, Followup CRM, a provider of CRM software announced a partnership with Sage, a cloud-based financial management and accounting software solution company. The partnership would simplify and optimize accounting and sales processes for construction companies.

In July 2023, Microsoft Corp. unveiled a fresh initiative aimed at aiding customers in transferring their on-premises enterprise resource planning and customer relationship management applications to the cloud, enriched with insights from artificial intelligence.

In December 2022, Freshworks Inc., a software company, collaborated with Supara Group, a Thai clothing retailer to help the latter increase its e-commerce sales across Thailand. The collaboration utilized Freshwork’s proprietary platforms, Freshdesk Omnichannel and Freshchat which had superior conversational messaging capabilities. Customer queries were addressed in a shorter time. Supara Group had greater access to past client contacts and purchase history thanks to the Freshworks software.