Ask a Domo business partner about Domo pricing and you’re likely to get a lot of “it all depends” kind of answers. In truth, no business software vendor can answer that question without knowing a lot more about your business, the challenges you’re facing, and the goals you’re looking to achieve. It’s just not as simple as, “Here is the Domo pricing list.” But we understand that you need a frame of reference – a starting point for the journey – so we’re providing you with the following thoughts on how much you could and should be spending on Domo BI and Domo implementation, and why it’s likely worth every dime.
How Much will you Spend Implementing Domo BI?
A typical (if there is one) organization might expect to pay somewhere around $30,000 a year for Domo BI. Large enterprise organizations seeking to manage large or multiple data sets and wish to have multiple users can pay twice that or more. Smaller companies with less expansive needs may be able to secure Domo for significantly less (ask us how).
It’s interesting (and refreshing) to point out that the cost of a Domo implementation has actually come down significantly over the past several years. If we were authoring this article in the early aughts, for example, our “typical” company would expect to pay in excess of $75,000 annually for Domo BI.
What Variables Effect the Price of Domo?
Domo pricing is based on three primary variables: the number of connections/data sources, the volume of data, and the number of users.
In contrast to many SaaS applications, a Domo BI subscription is billed annually. If the one-time hit hurts, there are options. BT Partners has established a unique relationship with an experienced finance company allowing its customers to finance the software at a competitive rate and make modest monthly payments instead (contact us to find out more).
As you consider whether Domo is the right BI tool for your organization, you’ll likely have questions. To help with your decision making, we thought we’d share the answers to a couple of questions we often get from Domo prospects.
- Is Domo BI for bigger/smaller companies than ours?
In fact, Domo BI plays just as well in the enterprise/Fortune 500 space as it does in the small- to medium-size business market space. Enterprises like Target and Mastercard use Domo, as do scores of up-and-coming midmarket companies. Roughly speaking, Domo is an ideal fit for companies in the $50-$500 million range.
- Will Domo connect my data sources?
Domo boasts over 350 native integrations in its connector library. There is also a Domo app store with pre-built solutions for different roles and industries, further increasing the solution’s flexibility and fit. Essentially, Domo can connect to nearly any data-source, virtual or physical.
What Else Should I Include in my BI Budget?
Domo subscription pricing is certainly part of the cost equation. However, to realize the maximum return on investment, Domo BI requires proper training and skilled implementation. While Domo BI is known for its ease of use, do not think for a minute that it, or any business intelligence software is plug and play. Training and implementation costs can vary considerably depending on your unique circumstances — but we promised you some real figures, right?
A typical (there’s that word again) Domo implementation will range from $15,000 to $25,000. We urge you to be cautious about rapid, low-price preconfigured implementations. Be certain you understand what’s included in the scope and how your costs (services and subscription) may change along with your needs (i.e., user counts, data volume etc.). And be aware that rarely is a BI implementation one-and-done. In our experience, once a company realizes the tremendous value they receive from Domo BI, they expand its scope to reap even more ROI.
Is Domo BI Worth it?
We’re operating in a fast-paced economy, where your biggest competitor is often time, not other companies. To succeed in this economy, you need to be agile, responsive, and fast. You need actionable insight into your operations, your customers, and your marketplace to keep service levels high and profitability growing. The fact is, if you’re relying on outdated business intelligence, you’ll have a difficult time keeping pace. Domo BI helps you run your business faster, more responsively, and more efficiently. Perhaps the most accurate answer to the “How much does Domo BI cost?” question is, “Less than it probably should.”
Of course price is a consideration in every business decision, but it’s wise to keep all things in perspective. It’s worth noting that the businesses that focus most on cost seem to benefit the least. A recent Gartner survey* found that buyers who focused primarily on cost reported the lowest average overall business benefit. Businesses that focused primarily on program functionality (what and how much their BI program can do) reported the highest business benefit.
Have questions about your business intelligence initiative? Give us a call at 847-205-5015 or Schedule a Free Consultation.
*Gartner (2018). Magic Quadrant for Analytics and Business Intelligence Platforms. Retrieved from:
https://www.gartner.com/account/signin?method=initialize&TARGET=http%253A%252F%252Fwww.gartner.com%252Fdocument%252F3327017 on 9/2020 (gated content).