Software vendors are hiking prices but don t be fooled by the justification TechRadar Skip to main content TechRadar is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Here's why you can trust us. Software vendors are hiking prices but don t be fooled by the justification By Craig Hale published 7 July 2022 Software companies using inflation as a scapegoat for rocketing prices (Image credit: Pexels) Audio player loading… Technology vendors have increased prices by as much as 30 percent over a twelve month period, according to a new paper from analyst firm Gartner. Author Jo Ann Rosenberger quotes one application maintenance service provider to be sending "an annual renewal statement of work with an 18 percent increase in the maintenance and support fees," which is put down to labor shortages that have pushed up the company's internal staffing costs. In another example, a SaaS vendor's contract renewal had increased by 21 percent without a clear explanation. Upon investigation, the considerable price increase was attributed to inflation, which the company said it must pass on to its clients. Inflation blamed for rising costs In response to these "vague and general answers [which] can in no way serve as sufficient detail to explain or justify the fairness of these unexpected increases," Rosenberger puts forward a pair of propositions that could help companies to combat increasing prices.Read more> Best small business software of 2022 > Microsoft delays Office 365 price rise once again > Best expense tracker apps and software of 2022 The point of sale can be a particularly busy period in which a lot of information is shared, and this is the perfect opportunity to slip in a few price increases, she explained. Try to slow the process down and digest each piece of information, and take the time to query why the prices have risen. Remember to arm yourself with the latest economic data to help support your case. Rosenberger says "the executive-level meetings serve as an opportunity to relay the message loud and clear that pricing and cost play a key role in how you will view the vendor relationship going forward." The second option, which may not be for everyone, involves waiting until financial incentives are likely to be more common. Periods such as end-of-quarter and end-of-year will require companies to meet targets, and as a result you may be able to get a better deal.Compare the best online collaboration tools and productivity software for your business Craig Hale With several years' experience freelancing in tech and automotive circles, Craig's specific interests lie in technology that is designed to better our lives, including AI and ML, productivity aids, and smart fitness. He is also passionate about cars and the electrification of personal transportation. As an avid bargain-hunter, you can be sure that any deal Craig finds is top value! See more Software news Are you a pro? Subscribe to our newsletter Sign up to theTechRadar Pro newsletter to get all the top news, opinion, features and guidance your business needs to succeed! Thank you for signing up to TechRadar. You will receive a verification email shortly. There was a problem. Please refresh the page and try again. MOST POPULARMOST SHARED1The iPhone 14 Pro is made of the wrong stuff; the Pixel 7 proves that to me2Stop saying Mario doesn't have an accent in The Super Mario Bros. Movie3Google Pixel Tablet is what Apple should've done ages ago4RTX 4090 too expensive? Nvidia resurrects another old favorite5Nvidia RTX 4090 Ti reportedly canned due to sky-high power consumption1Best laptops for designers and coders 2The iPhone 14 Pro is made of the wrong stuff; the Pixel 7 proves that to me3Stop saying Mario doesn't have an accent in The Super Mario Bros. Movie4iPhone 15 tipped to come with an upgraded 5G chip5Google Pixel Tablet is what Apple should've done ages ago Technology Magazines (opens in new tab)● (opens in new tab)The best tech tutorials and in-depth reviewsFrom$12.99 (opens in new tab)View (opens in new tab)