Budgyt Pricing - why 3/10?

Budgyt Review
ITQlick Score: 89/100
ITQlick Rating: (4.9/5)
Pricing: 3/10 - low cost
Category: Budgeting & CPM -> Budgyt -> Budgyt pricing
Ranking:Ranked 3 out of 50 Budgeting & CPM systems
Company: Budgyt
Pricing: starts at $199 per month
Typical customers: SMBs
Platforms: Cloud
Links: Budgyt review, Budgyt alternatives
Shlomi LaviShlomi Lavi / May 25, 2021

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What is Budgyt's cost rating? (3/10)

When comparing Budgyt to its competitors, on a scale between 1 to 10 Budgyt is rated 3, which is less expensive than the average Budgeting & CPM software cost. Budgyt offers few flexible plans to its customers with the basic cost of a license starting from $199 per month. Read the article below in order to calculate the total cost of ownership (TCO), which includes: customization, data migration, training, hardware, maintenance, upgrades, and more.

You can also leave your info with us to get a free custom quote with a break downs for your business needs.

Budgeting & CPM Software Price Ranges

Organizations of varying sizes would typically have to pay between $9 and more than $144 for base subscriptions of Budgeting & CPM software. Also, the software vendors might include some additional charges for features like asset planning, document versioning, and forecasting.

However, there are some open-source and free Budgeting and CPM Software available. For example, MoneyMinder has a free entry subscription and an upgraded “Pro” version, which costs $159 per year. MyGide Starter Kit is free with tiered upgrade options, and Cash Flow Frog offers free versions, with upgrades costing up to $45 a month.

  • Web-based Budgeting & CPM solutions typically cost between $12 and $1000 per month. For instance, Float Cash Flow Forecasting pricing goes for $69 a month, and JD Edwards EnterpriseOne costs up to $999 a month. Dryrun “Essentials” version costs $59 per month, while its “Advanced” version goes for $99 a month. Also, Poindexter “Basic” pricing plan begins at $12, going up to $38.
  • macOS users can expect to pay up to $20,000 for B/CPM service bundles. For context, Quantrix pricing costs $2,450 a year for its “Modeler” subscription, Jirav goes for $100 a month, and XLReporting for $199 per month. Also, Neubrain Budgeting has a one-time license fee of $10,000.
  • Windows-based CPM software has a price range of $30-$7000. ClearPoint Strategy costs $250 a month for its Basic subscription plan, Calumo pricing is around $30 a month, and Solver goes for up to $6,888 a year. Budgyt pricing also starts at $199 for its “Easy” model, $399 for its “Plus” model, and $699 for its “Pro” Model.
  • Small BusinessBudgeting and CPM software for small businesses have an average price range of $19-$260. For instance, Castaway costs around $133 a month, with a “Flexi” plan, which goes for $259 a month. A2X for Amazon goes for $19 a month, and ProjectionHub pricing sits around $25 a month.
  • Android platform CPM software that is deployable on the Android platform can cost up to $1000. FINSYNC base service goes for $45 per month, while Six Degrees Planning costs a one-time charge of $1000. Accounting Power goes for $120 a month ($1,195 a year), and Striven starts at $20 per user, with an additional $99 hosting charge per month.

What is the cost breakdown of Budgeting & CPM implementation?

When it comes to selecting Budgeting & CPM tools, buyers are primarily concerned about the cost. In fact, it is the cost that determines whether a potential buyer would go with the product. True, there is no one-size-fits-all formula to determine the “worth” of a business application, but as a software buyer, you want to make sure you get the best value for your money, without having to dig a big hole in your pocket.

Understanding the exact price of a Budgeting & CPM system isn't easy as the overall cost of software includes the cost of a license, subscription fees, training, customization, hardware, maintenance, support, and other related services. It's essential to take into account all of these costs to gain an understanding of the system's "total cost of ownership."

What are the typical Budgeting & CPM pricing models?

There are primarily three common pricing models – Perpetual License, Subscription, and Commercial Open Source.

  • Subscription/Software-As-A-Service: - Relevant for Budgyt
    Under this pricing model, the system is accessed over the internet, as opposed to installed on-premises. The payment is made either on a per user basis or subscription basis. Ideally, customers are required to pay a recurring monthly fee until a specific period for using the tool. Subscription pricing model is more common with Software-as-a-Service (SaaS) apps.
  • Upfront cost for customization and integration is less compared to perpetual license cost because there is not much flexibility with SaaS systems in this area.
  • Recurring cost is greater as customers are required to make monthly payments as a subscription fee. Additionally customers using premium support services must pay an extra fee.
  • All in all, the total cost of ownership in the both cases is almost the same and may span over a period of 7-10 years, though you may have to pay a higher perpetual license fee upfront. The total cost may vary from starter to mid range to enterprise level apps in both cases.
  • Perpetual license: - Relevant for Budgyt
    A common pricing model for on-premise applications, perpetual license requires a customer to pay an upfront sum to own the tool or other intellectual property on-premises for a fixed term.
  • Upfront cost involves the fee for installation, customization, and integration with existing systems, besides perpetual license fee.
  • Recurring cost is low in this pricing model and may include the cost for updates, maintenance, upgrades, and patches. Some vendors do offer premium support services, which come for an extra price.
  • Commercial open source: Not relevant for Budgyt
    The customer can acquire the system free of cost without having to incur any upfront license fee. As a customer, you’re solely responsible for the ongoing maintenance, upgrading, customization, and troubleshooting of the application to meet your specific needs. You are on your own for providing end-user support, since you are not locked in with a vendor-supplied system solution.

How much would it cost to customize Budgyt? (and is it relevant)

If you need specific features in your system catering to your specific business requirements, the vendor will charge customization cost, depending on your needs and feature requirement. Ideally customization cost is more complex to calculate compared to licensing cost.

Some apps allow you to easily combine data from multiple sources, without any complicated query requirements, while some others can be embedded into different applications to provide enhanced reporting. If you seek products that support customizable dashboards and predictive analysis to identity possible trends and facilitate decision making, you may have to pay higher for all the customization features.

Additionally, the following factors may affect the cost of customization:
  • User interface changes
  • Configurable dashboards
  • Data elements required for tracking
  • Forms to collect additional data
  • Dashboard, management and operational reports that are needed.
  • Workflows and how complex they are
  • Forms to collect additional data
Here are some questions to answer: How much customization is needed? How many systems do you want to integrate to? Does your company work like industry standards or does it have its own customized processes? What kind of special reports are needed?

In order to calculate the cost of customization you can use the following estimates:

  • Minimal customization - integrate with 1-2 systems: $2,500
  • Standard customization - integrate with 3-5 systems: $10,000
  • Fully customized system - integrate with more than 5 systems: $25,000

Cost of data migration when migrating to Budgyt? Relevant for Budgyt

Most companies opt for data migration services from a vendor, which raises the cost of product ownership. If you choose to transfer data on your own, you can avoid paying the cost of data migration.
Data migration cost depends on the amount of data to be transferred, your current software, availability of migration tools, complexity of data, and gaps between the existing system and the new system.

If your data is stored in Excel spreadsheets, then it may incur you a lot of time and money to migrate data from Excel.
By involving a business services provider in data migration, you are asking them to offer additional services, for which you may have to pay extra.

As a rule of thumb the cost of data migration depends on how many records you want to migrate. Records can include the number of customers, invoices, financial transactions, products, versions, etc. Here is a list you can use as a rule of thumb:

  • 1,000 records: $500
  • 10,000 records: $2,500
  • 100,000 records: $10,000
  • 1,000,000+ records: $25,000

What is the cost of training for Budgyt? Relevant for Budgyt

As a buyer, you are required to pay extra for in-person training, though some vendors offer web-based solutions as part of the package. The cost may involve end-user training, video/self, group, department, and training the super users.

The cost is mainly derived from the approach that you select for your organization:
  • End-user training
  • Group/Department
  • Video /self
  • Train the trainer/super user

Here are some questions to answer: How many groups (different departments, usages, type of users) are needed?

In order to calculate the cost you can use the following estimates:

  • 1-2 Sessions: $500
  • 3-4 Sessions: $1,500
  • 5-7 Sessions: $2,500
  • 8-10 Sessions: $5,000

How Budgyt pricing compares to alternative Budgeting & CPM solutions?

When comparing Budgyt to alternative systems, on a scale between 1 to 10 Budgyt is rated 3, which is less expensive than the average Budgeting & CPM cost.

How can the team at ITQlick help?

The science of TCO (total cost of ownership) may not be easy to calculate. If you seek to get detailed info about the TCO, get in touch with ITQlick experts. Contact us today and get up to date, detailed quotes.

Author

Shlomi Lavi

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Shlomi holds a Bachelor of Science (B.Sc.) in Information System Engineering from Ben Gurion University in Israel. Shlomi brings 15 years of global IT and IS management experience as a consultant, and implementation expert for small, medium and large size (global) companies.