Salesforce plans to raise prices on certain products by 9 percent.
According to Reuters, Salesforce is going to raise the prices of several products by 9 percent as soon as August. These are said to include Tableau, Sales Cloud, Service Cloud, Marketing Cloud and Industries. The new prices will apply to both existing and new customers.
It would be the first time in seven years that Salesforce has raised its product prices.
Reasons for price increases
Among the reasons for the price increase, experts cite inflation, as well as the disappointing sales that Salesforce is facing. Other possible reasons for the price increase are the recent large investments of more than $20 billion in AI functionality, such as generative AI applications.
Salesforce is not the only software company to raise its prices this year. Previously, IBM, Microsoft, Oracle and SAP, among others, announced price increases for various services.