Frequently Asked Questions

Q: When does the price increase go into effect?

A: For current subscribers, the price increase will go into effect upon their subscription renewal date. For new subscribers, the price increase is effective January 1, 2024, when they subscribe.

Q: What is affected by the price increase?

A: The Annual Subscription, Specialized LEED Services, and Multi-Brand will increase, on average, thirteen percent. Estimator Assistant will now have a flat fee while the number of projects remains unlimited for all users.

Q: What is not impacted by the price increase?

A: The most heavily used feature of the Spec-ID platform is Project Management projects. Customers will enjoy the same price for the Project Manager Packages with no increase.

Q: Why is there a new flat fee for Estimator Assistant?

A: While we continue to believe this feature has an unrealized value to our subscribers, we have made significant investments with 3rd party software integrations at no cost to the subscriber since it was introduced in 2022. New features are expected to come online in 2024.

Q: What is the cost of Estimator Assistant, and how is it paid?

A: Estimator Assistant is an annual fee of $299 with unlimited users and projects.

Q: What is influencing this price increase?

A: Many factors have contributed to a rise in our costs, and we continue to absorb the majority of them.

1. Operating Costs: As a SaaS company, our operating costs have increased significantly. We are updating our infrastructure technology for faster product launches and better security against malware, which has doubled our programming expenses. Our server and server maintenance costs have increased by over 80% year over year. Employee salaries and overhead have not kept up with inflation. In order to maintain 100% employee retention we have made modest increases managed over time.

2. Inflation: The cost of goods and services across the board has been influenced by inflationary pressures. From banking services and software management tools, to utilities and trade events have required us to offset these rising expenses.

3. Investments in Innovation: We continue to invest in research and development to enhance our products, introduce new features, and stay competitive. New tax laws do not provide the same exemptions for these investments. We will continue to invest in technology without passing on the majority of these costs.

4. Market Positioning: As a premium service to the industry, our customers continue to ask for additional value to meet their needs. To maintain a higher quality and enhanced features of our product, we continue to launch new features on a regular basis. We absorb these costs throughout the design and launch process with little to no financial impact on our subscribers.

Q: What is Spec-ID doing to control costs?

A: As a Software as a Service (SaaS) company, the greatest cost control is more customers. Unlike manufactured products, our costs do not rise exponentially based on sales. Just the opposite, our prices can be more strategic with a significant increase in the number of new subscribers to our platform. As new clients onboard to Spec-ID, we are able to scale our services and features with technology that we have already developed and accelerate our innovation through new revenue.