Every e-commerce business has unique software requirements to sustain their workflow effectively in order to move its business to next level. Especially while automating some areas such as accounting, HR, CRM, etc… technology plays a vital role in e-commerce companies’ strategy today. Internal issues like mentioned above (Accounting, HR, CRM, Marketing,..) can be placed in a proper flow upon the needs of the organization through a tailored in-house system. But when it comes to external needs which mean competitive intelligence area such as price tracking, you need to think twice. The reason is almost every e-commerce stores change its product prices dynamically and there are so many e-commerce platforms that you should integrate your in-house software.
In this article, we compare in-house developed vs. SaaS competitor price tracking software under 5 topics which are time and cost saving, product development, support, integrations and technical.
Hope it will be useful for you to decide which way to continue.
1- Financial and Time Burden
The most apparent differentiator between in-house vs. SaaS competitor price tracking software is the financial costs. In the case of applying in-house system, at least one skilled developer and one system engineer should be in charge of maintaining the software. Besides of the salary of them, operational costs, server costs should be taken into account. Also, as e-commerce industry is a non-stop and continuously evolving sector, companies should also update their systems. That fact brings out extra costs for improving the solution depending on the needs of the industry. E-commerce companies may face with high maintenance and switching costs.
Acquiring a price tracking software will cost you much less than you can imagine. You can start tracking your competitor prices automatically only with $49 – $209 on a monthly basis. It will also let you have a well-structured financial plan by letting you know the exact cost of the functions and services of the company. Unlike in-house systems, if an update occurs, you won’t be charged for any extra money. In a nutshell, there is no room for any of surprise while using a competitor price tracking software.
It will also reduce the operational and recruitment costs. The necessity to hire individuals is excluded, so besides money-saving there is an also the advantage of time-saving.
2- Advanced Features
Most of e-commerce businesses assign one or couple of its employees from development team for working on in-house competitor price tracking software. As they have many responsibilities, there is a risk of losing their direction. So, as they are distracted by many projects and improvements, in-house softwares solve basic needs and leave out the other features that e-commerce companies need to use.
On the other side, competitor price tracking SaaS has proven expertises. As a rule, the tasks are subcontracted to the vendors who narrowly specialize in a given area or field. The SaaS company has more options to choose from, starting from the level of experience and finishing with other professional characteristics. For example, Prisync offers multiple advanced features besides of its price tracking specialty such as tracking stock availabilities of competitors, historical index chart, advanced reports, category/brand performance analytics, customizable email alerts, MAP monitoring… So, not only e-commerce companies track the prices of competitors, they also have great tools to focus on analyzing and making accurate decisions by using competitor price tracking softwares.
Some companies want %100 control over the project. But, like e-commerce industry, the competition in SaaS market is also fierce. Gaining competitive advantage in the market becomes a crucial effort for software providers. So, they are continuously trying to support its users 7/24 and improve its features to fit its product to market with its experienced customer success and development team.They have even dedicated account managers to keep every single of user happy and active.
So, e-commerce companies can see these dedicated account managers as one of their employees and take full support from them.
4- Product By Itself
A proven competitor price tracking SaaS already have a good track record in the e-commerce industry, as it may have been successfully adapted in other e-commerce companies which provide a level of assurance about the quality of the software.
Prisync promises to track the competitor prices with %100 accuracy with four times updates in a day. Unlike competitor price tracking software, an in-house solution has not been tested and has no proven tracked record. Moreover it may cause some technical problems and extra maintenance while adding new competitors and URLs. Because it is needed to create new crawlers to check the targeted prices from product URLs. On the other hand, a dedicated team in Prisync finds a rapid solution to assign crawlers to check the sites and start showing competitor prices in hours.
As it is expected, an in-house price tracking software is extremely focused on internal issues and capabilities. That’s why it is not well flexible to adapt various technological changes and CMS such as Shopify, Magento, PrestaShop, etc…
Competitor price tracking software like Prisync are designed to be easily adapted to different platforms. Its seamless API contains all the data displayed on its web application, notifications and reports so that companies can easily develop custom applications that integrate Prisync data to their internal systems and can yield automated pricing or customized notifications etc.
Acquiring an outside price tracking software for your e-commerce store means you don’t have to worry about any of these challenges and more. There are many large companies that have billions of dollars that understand that SaaS is affordable the cleanest and most sustainable way to get the job done. Unlike in-house systems, you can generate immediate results without any pain.