Three Key Improvements for Routable's Pricing Model: Insights from 2023 Customer Feedback

In the competitive landscape of Accounts Payable Automation Software, Routable has been a notable player. However, as with any service, there is always room for improvement, especially when it comes to pricing. Based on recent customer reviews from 2023, here are three significant areas where Routable could enhance its pricing model to better meet the needs of its users.

1. Introduction of Flexible Pricing Tiers

Customers have expressed a desire for more adaptable pricing options that can cater to the varying needs of businesses of different sizes and transaction volumes. A small business owner mentioned, We're not processing the volume of invoices that a large enterprise does, yet we're paying a similar rate. It would be great to see a tiered pricing model that reflects our usage.

Recommendation: Routable should consider implementing a tiered pricing structure that scales with the number of transactions or invoices processed. This would not only make the service more accessible to smaller businesses but also ensure that larger companies feel they are getting value proportional to their usage.

2. Transparent Cost Breakdown for Additional Features

Some users have found it challenging to understand the costs associated with additional features and services. One finance manager stated, While the core service is priced clearly, once you start adding more features, it gets murky. I'd like a clear breakdown of what each add-on costs.

Recommendation: Routable could improve customer satisfaction by providing a detailed and transparent cost breakdown for each additional feature or service offered. This clarity would help customers make informed decisions and feel more in control of their spending.

3. Competitive Benchmarking Against Alternatives

In the reviews, customers have compared Routable's pricing with that of competitors, suggesting that Routable's model may not always be the most cost-effective option. A user reviewing alternatives said, I switched to [a competitor] because their pricing gave us more bang for our buck with similar features.

Recommendation: Routable should conduct a thorough benchmarking analysis against its top competitors to ensure its pricing remains competitive. Offering competitive pricing, bundled with unique value propositions, can help Routable retain existing customers and attract new ones who are price-sensitive.

By addressing these three areas of improvement—flexible pricing tiers, transparent cost breakdowns, and competitive benchmarking—Routable can enhance its pricing model to better align with customer expectations and market demands. This will not only improve customer satisfaction but also position Routable as a more attractive option in the accounts payable automation software market.

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