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How to Get a Discount on Retool Business in 2023

Learn how to secure a discount on Retool Business and optimize your SaaS costs. Discover valuable strategies and negotiation tips to minimize expenses while maximizing the benefits of this platform.

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Alex Millar, CPA
June 6, 2023
How to Get a Discount on Retool Business in 2023

Retool Business has gained popularity among companies for its ability to quickly and efficiently build custom internal tools. As organizations consider investing in this platform to streamline operations, minimizing costs becomes a crucial factor. This article provides valuable strategies to secure a discount on Retool Business, allowing you to reap the benefits of the platform while maintaining financial prudence.

Retool Business Pricing

Retool offers three primary pricing plans: Business, Team, and Enterprise.

  • Business plan: costs $600 per user if paid annually or $65 per user on a monthly commitment.
  • Team plan: starts at $120 per user if paid annually or $12 per user on a monthly commitment, with a minimum of five users required.
  • Enterprise plan is tailored for large organizations, with licenses starting from approximately $45,000 per year, which includes 50 licenses (approximately $900/user).

Retool Business Discount Paths

Securing a discount on Retool Business can help companies minimize costs and maximize their return on investment. There are four primary categories of discounts available:

Standard Discounts offer a 20% reduction in pricing for Team and Business plans when committed to an annual plan. This is a common discount provided by Retool to encourage longer-term commitments.

Negotiated Discounts range from 20% to 50% and are typically available for Business and Enterprise plans. These discounts depend on factors such as company size, usage, and timing of purchase.

Startup Discounts involve Retool startup offers, such as $25K credits, which allow smaller companies to test Retool before committing to a paid plan. These offers may vary over time and are subject to specific terms and conditions.

Non-for-profit Discounts are special discounts available for non-profit organizations, though they are relatively uncommon. If your organization is eligible, it's worth inquiring about this discount option during negotiations.

Tips for Negotiating a Discount with Retool Business

Negotiating a discount on your Retool Business purchase can make a significant difference in your overall costs. To increase your chances of success, first understand Retool pricing, and then consider the following strategies:

Begin a request a proposal (RFP) process: An RFP signals to the vendor that you are serious about your business and investment in their product. This approach may encourage them to offer higher discounts to secure your commitment.

Research and compare competitor pricing: Gaining a comprehensive understanding of Retool pricing benchmark data, as provided by Hudled, can help you negotiate from an informed position. Knowing the market landscape and how Retool's pricing compares to competitors will strengthen your negotiating stance.

When you buy is important: Initiating negotiations at the end of the financial year, quarter, or month may increase your chances of securing a higher discount. Utilize the urgency factor and aim to close the deal quickly to improve the terms of your agreement.

Consider multi-year: Retool once implemented, will take some time to migrate. If you are committed to using Retool, it makes sense to consider entering a multi-year agreement. You will unlock higher discounts, thus creating savings in your company or startup.

Convincing the CFO to Approve Retool in Your Company

Gaining approval from your CFO to invest in Retool can be challenging, but with the right approach, you can demonstrate the platform's value and potential impact on your business. Consider the following strategies to help you gain approval:

Present a comprehensive cost-benefit analysis: Outline the costs associated with Retool, such as subscription fees and onboarding expenses, alongside the expected benefits and potential return on investment (ROI). This analysis will provide a clear picture of the platform's value to your organization.

Demonstrate ROI and potential impact on business growth: Highlight Retool's role in driving operational efficiency, and making the engineering team more efficient. Provide concrete examples and case studies, if possible, to strengthen your argument.

Show benchmarking data: Leverage Hudled's  Retool pricing benchmark data to show that you have secured the best price for Retool and have evaluated other competitors using strategies such as a Request for Proposal (RFP). Sharing this information will give your internal stakeholders confidence that you have conducted thorough research and are making an informed decision.

Reducing SaaS Costs with Hudled

Retool is just one of many tools that a company may use. Unfortunately, tracking SaaS usage and determining the return on investment (ROI) can be challenging, leading to overlooked expenses and inefficiencies. Hudled offers a solution to this problem, providing SaaS management and optimization services that help businesses minimize costs and maximize value.

Hudled's platform allows users to track and manage all their SaaS subscriptions from a single dashboard, offering actionable insights and reminder alerts to help optimize costs. By using Hudled's SaaS optimization techniques and strategies, businesses can significantly reduce their overall SaaS expenses.

To get started with Hudled and discover where you may be overspending on SaaS tools, request a free SaaS audit today.

Written By

Alex Millar, CPA

CEO & Cofounder of Hudled. A platform for finance teams in growing companies to track and optimise their software stack

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