The verdict in three sentences
For a software SME that needs to reassure an enterprise customer, the penetration test always comes first: it produces a signed report that buyers and security questionnaires require, for €4,000 to €12,000 excl. VAT. A private bug bounty becomes relevant afterwards, once the obvious flaws are fixed, as continuous coverage from €1,500 a month plus rewards. Reversing the order means paying researchers to find what a pentester would have listed in a week.
Two approaches, two cost logics
A pentest is a fixed-price engagement delivered by a provider (ideally certified, such as CREST or PASSI for regulated customers) over a defined window. A bug bounty is an ongoing programme: independent researchers test the application and only get paid when they find a valid vulnerability.
| Criterion | Grey-box penetration test | Private bug bounty (YesWeHack, Intigriti) |
|---|---|---|
| Pricing model | fixed price per person-day | platform subscription + rewards on results |
| Typical 2026 budget | €4,000 to €12,000 excl. VAT | €1,500 to €3,000 a month + rewards |
| Duration | 5 to 10 days of testing | continuous, 6 to 12 months minimum |
| Deliverable | detailed report, CVSS scores, remediation plan | tickets as they come, dashboard |
| Coverage | exhaustive within the defined scope | opportunistic, driven by researcher interest |
| Accepted by buyers | yes, often required | rarely sufficient alone |
| Retest after fixes | included or 1 to 2 billed days | implicit (researchers retest) |
The day rate of a senior pentester in Europe sits between €900 and €1,400 excl. VAT in 2026. A mid-sized SaaS application (30 to 60 screens, one API, 3 user roles) needs 6 to 8 days in grey box.
What enterprise customers actually ask for
Procurement teams and CISOs at large groups send a security questionnaire of 80 to 250 questions. Some answers can only be backed by a third-party document.
| Customer requirement | Pentest | Bug bounty | Indicative cost to meet it |
|---|---|---|---|
| Penetration test report under 12 months old | yes | no | €4,000 to €12,000 excl. VAT |
| Proof that critical vulnerabilities were fixed | yes (retest) | partial | €900 to €2,800 excl. VAT |
| Vulnerability disclosure programme | no | yes | €0 (simple VDP) to €1,500 a month |
| Recurring testing (annual or each major release) | yes | yes | €8,000 to €20,000 excl. VAT a year |
| OWASP ASVS level 2 compliance | yes, if requested | no | +2 to 3 testing days |
| ISO 27001 certification | indirect | indirect | €25,000 to €60,000 over 12 months |
A responsible disclosure policy (security.txt file, dedicated address, response time) costs almost nothing and already reassures buyers: it is a useful intermediate step before a paid bug bounty.
The annual security budget of a software SME
For an SME of 15 to 40 employees selling a web application to large accounts, a reasonable 2026 priority order looks like this.
| Step | Action | Budget excl. VAT | Timing |
|---|---|---|---|
| 1 | Code review and automated scanning (SAST, dependencies) | €0 to €3,000 | before any audit |
| 2 | Grey-box pentest of the application and API | €6,000 to €10,000 | quarter 1 |
| 3 | Fixes by the in-house team or agency | €3,000 to €15,000 | 4 to 8 weeks |
| 4 | Retest | €900 to €2,800 | quarter 2 |
| 5 | Vulnerability disclosure programme (VDP) | €0 to €500 | quarter 2 |
| 6 | Private bug bounty, 20 to 50 invited researchers | €18,000 to €36,000 a year + rewards | from year 2 |
Rewards range from €100 for a low-severity flaw to €5,000 for a critical one (code execution, access to other customers' data). On an application that has already been audited, a private programme typically pays out €3,000 to €12,000 in rewards in its first year.
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Mini case study
Nathalie runs a 22-person software company in Lille that sells an expense management tool. A large listed group makes a €180,000 a year contract conditional on a recent pentest report. She orders a 7-day grey-box test at €1,100 a day, i.e. €7,700 excl. VAT, then a one-day retest at €1,100. The fixes (two IDOR flaws, one injection in the CSV export) cost €6,400 in development. Total: €15,200 excl. VAT, or 8.4% of the contract's first year. The bug bounty is pushed to the following year, with a €2,000 monthly budget once three enterprise accounts are signed.
FAQ
Can a bug bounty replace a penetration test?
No, not for a first audit. Buyers expect a structured report covering the full scope, which a 5 to 10 day pentest delivers and a rewards programme does not guarantee.
Do we need a certified provider?
It is mandatory for some public bodies and regulated operators, and appreciated by large accounts. The premium over a non-certified provider is around 10% to 20% of the day rate.
Black, grey or white box: which one?
Grey box (test accounts provided for each role) offers the best cost to coverage ratio for a SaaS application. White box, with code access, adds 2 to 4 days and becomes useful for sensitive modules such as payments.
How often should we redo a pentest?
At least once a year, and after every major redesign. Many customers require a report under 12 months old, so plan a recurring €6,000 to €12,000 excl. VAT a year.
Who fixes the vulnerabilities found?
The development team, in-house or external. Budget €3,000 to €15,000 depending on severity, and add automated tests to prevent regressions before the retest.
Let's scope your project. Tell us about your application, your target customers and the security questionnaire you received: we prepare the app for the audit, fix the flaws and price the whole effort between €10,000 and €30,000 excl. VAT over 6 to 10 weeks. Detailed quote within 48 h. WhatsApp +221 77 596 93 33.
Mohamed Bah
Fondateur, Kolonell
Passionate about digital and entrepreneurship in Africa, Mohamed has been helping Sénégalese businesses with their digital transformation since 2020. Founder of Kolonell, he believes every SME deserves a professional and accessible online présence.
