Salesforce announced it is raising prices on many of its cloud services, effective August 2023.

Salesforce is the leading CRM provider and increasingly a major player in the cloud computing market. In addition to the company’s own services, it also owns and operates business insight firm Tableau, as well as Slack.

According to the company, it will be raising prices across a number of services:

In August, Salesforce will be increasing list prices an average of 9% across Sales Cloud, Service Cloud, Marketing Cloud, Industries and Tableau. Salesforce’s last list price increase was seven years ago, and since then the company has delivered 22 new releases, thousands of new features—including recent generative AI innovations—and invested more than $20 billion in research and development.

Salesforce highlights some of the investments it has been making, investments it is no doubt hoping to offset with the price hike:

Customer success is at the core of Salesforce. Nearly every company in the world right now is exploring how generative AI can help drive efficiency and productivity for their business. Salesforce is leading the way on delivering trusted generative AI for the enterprise and helping customers in all industries adopt and deploy AI. In just the last few months alone, Salesforce has introduced AI Cloud, Einstein GPT, Sales GPT and Service GPT, and more.