Top 54 Asset Tracking Software

2022's Best 54 Asset Tracking Systems

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1. SAP ERP

  • Best for: Large business
  • Price: starts at $56 per user/month
  • Mar 08, 2022
Compare SAP ERP Vs. SAP ERP

SAP ERP is a cloud ERP suite that offers resource planning and business management solution designed to offer the users the financial transparency they need to execute growth plans, expand margins, and satisfy customers. It offers end-to-end with fully integrated business functions, automated proces...


2. FTMaintenance

  • Best for: SMBs
  • Price: starts at $40 per month
  • Mar 09, 2022
Compare FTMaintenance Vs. SAP ERP

FTMaintenance is a maintenance management software solution that automates manual tasks and supervises the assets. The software was designed by FasTrak SoftWorks, Inc., headquartered in Wisconsin, United States. The software works to reduce the downtime and improve the lifetime of equipment. 


3. UpKeep

  • Best for: Small, medium and large size businesses
  • Price: starts at $45 per user/month
  • Jun 28, 2022
Compare UpKeep Vs. SAP ERP

Upkeep software is an integrated cloud-based computerized maintenance management solution modeled to offer businesses functionalities that help them to manage assets and facilities. The core features of UpKeep software include Audit management, Inventory Management, Maintenance Management, Work orde...


4. Pivotal Tracker

  • Best for: Small, medium and large size businesses
  • Price: starts at $10 per month
  • Mar 09, 2022
Compare Pivotal Tracker Vs. SAP ERP

Pivotal Tracker is a cloud based project management solution for businesses of all sizes. Core services of the software include document management, task management, collaboration, reporting, and others. The software was designed and launched by Pivotal Labs headquartered in California, ...


5. FIIX CMMS

  • Best for: Small, medium and large size businesses
  • Price: starts at $45 per user/month
  • Mar 10, 2022
Compare FIIX CMMS Vs. SAP ERP

FIIX CMMS software is a cloud-based maintenance management solution that organizes, tracks, and schedules your maintenance activities. It offers a number of features that include work orders, physical assets, track maintenance among others.


6. Hippo CMMS

  • Best for: Small, medium and large size businesses
  • Price: starts at $35 per user/month
  • Mar 10, 2022
Compare Hippo CMMS Vs. SAP ERP

Hippo CMMS software is a cloud-based CMMS, maintenance, and building maintenance management solution designed for businesses of all sizes. Some of its key features include work-order software, preventive maintenance, equipment maintenance, and facility and inventory management solutions.


7. eMaint CMMS

  • Best for: Small, medium and large size businesses
  • Price: starts at $33 per user/month
  • Mar 12, 2022
Compare eMaint CMMS Vs. SAP ERP

eMaint CMMS is a cloud-based, computerized maintenance management software solution. It is built to assist businesses globally to manage their enterprise assets, track inventory, streamline workflows, and schedule preventive & predictive maintenance.


8. Verizon Connect Reveal

  • Best for: Small, medium and large size businesses
  • Price: starts at $45 per vehicle/month
  • May 14, 2022
Compare Verizon Connect Reveal Vs. SAP ERP

Verizon connect reveal is a fleet management software built for companies with fleets to manage. The software provides a GPS-embedded 360-degree view of vehicles daily operations, thus giving insights on cost, vehicle maintenance needs, and how to increase productivity.


9. FieldAware

  • Best for: SMBs
  • Price: starts at $70 per user/month
  • Apr 05, 2022
Compare FieldAware Vs. SAP ERP

FieldAware is a cloud-based field management solution that is designed for the management of every facet of the service delivery process. FieldAware enables users to effectively manage customer relationships, scheduling, service requests, dispatching, invoicing, and reporting. User can view service...


10. Wintac

  • Best for: Small businesses and start ups
  • Price: starts at $1,495 per license
  • Mar 19, 2022
Compare Wintac Vs. SAP ERP

Wintac is a cloud based field service software designed for small to medium sized service companies that require a centralized management solution. It supports field service and allows you real time interaction with your staff on site. Intac International was founded in 1988 in Burlington, Mass...


Pricing Guide - Asset Tracking Software:

Computerized Maintenance Management System (CMMS) Software

Users can expect to pay between $0 and above $100 a month for the base subscription of the average CMMS Software. The price models are mostly in per month/per user form. Vendors can also charge for additional features such as mobile applications, report dashboarding and document management. However, price points at the different organization sizes vary, and the breakdown is as follows:

  • Small-sized businesses can expect to pay between $75 and $110 a month for a CMMS software. For instance, Maintenance Care Premium pricing begins at $75 a month, MicroMain costs up to $89 for each administrator, and iMaint cost price is at $75 a month. Additionally, Maintenance Connection Technician pricing goes for $60, with a Professional plan at $110 a month.
  • CMMS software for Medium organizations has a price range of $0-195 per month. For example, UpKeep pricing starts at $0 per month, Hippo CMMS cost price is at $99 a month, and eMaint CMMS pricing goes for $33 per month. Other vendors include Fracttal Asset Cloud whose base subscription price is $195 a month, MaintainX is free but with a Premium and Enterprise plan that cost $33 and $115 respectively.
  • Large companies would have to pay $225-1000 a month for CMMS software. For example, TrackAbout pricing plan starts at $225 a month; SAM Aviation Maintenance pricing begins at $300 monthly and DirectLine at $395 per month. However, some vendors use annual billing for their subscription, such as ProLease, which goes for $6000 a year.

Some of the price points for the best of breeds of CMMS software are available as follows:

  • Asset Tracking Software Asset Tracking Software generally has price points within $40 and $119 a month. For instance, Wasp AssetCloud pricing begins at $119 a month, EZOfficeInventory at $40 a month and ManagerPlus costs $45 per month. Some vendors charge annually, or a one-time license, examples of such vendors are MPulse which price begins at $3500 as a one-off fee and GoCodes which has an entry plan of $810 per year.
  • Aviation MRO software Users can expect to pay $60-$99 per month for base Aviation MRO software subscriptions. For illustration, MaintiMizer pricing starts at $60 a month, Loc8 cost price goes for $39 per month, and FreshService Blossom subscription plan starts at $29 monthly. The products also have yearly plans and one-off licensing as well; for example, SS-CMMS pricing begins at $90 a year, and ManWinWin cost price goes for a one-off fee of $599.
  • Equipment Management Software Equipment Management Software products generally begin at $5 a month. For example, Fleetio Base subscription costs $5 a month, 60Hertz pricing starts at $20 a month, and FaciliWorks 8i CMMS cost around $69 monthly. Also, PTM-Vision subscription begins at $80 per month, CHEQROOM and TabWare at $55 a month. Other products have one-time payment plans, such as MAPCON which goes for $495, FastMaint CMMS for $600 and Equipment360 for $1200.
  • Predictive Maintenance Software The price range for Predictive Maintenance Software is $20-$100 a month. QWare CMMS goes for $90 a month, Factory View Online for $50 a month and WebDPW for $20 per month for each user. AssetTiger has a yearly subscription plan of $100, and eSPACE pricing starts at $50 a month; Some vendors offer One-time subscriptions, such as Wintac which starts $1495.
  • Preventive Maintenance Software These product subscription plans begin at $20 and can go up to $2390. For example, Limble CMMS base subscription costs $35 a month, GageList Calibration Management cost price starts at $20 a month, and IndySoft Calibration Management pricing goes for $199 a month. Calibration Control also charges a one-time fee of $768, and MEX Maintenance pricing starts at $2390.
  • Work Order Software Users can expect to pay between $2 and $775 a month for Work Order Software. For instance, Sortly Pro pricing begins at $39 a month with an Ultra plan which goes for $99 monthly. MYBOS pricing goes for $2 a month and iOFFICE for $775 a month. Also, Tikkit cost price begins at $59 a month, TOPdesk for $55 a month, and OfficeTrax for $10 a month. ProCalV5 cost $3000 for a lifetime licensing.

11. Fleet Complete

  • Best for: Small, medium and large size businesses
  • Price:
  • Mar 02, 2022
Compare Fleet Complete Vs. SAP ERP

Fleet Complete is a cloud-based fleet management software that provides commercial vehicle space and mobile management using IoT solutions. The software is geared towards improving in-field staff management, dispatch, fleet dispatch, and regulatory compliance.


12. QT9 Quality Management

  • Best for: Small, medium and large size businesses
  • Price: starts at $1,500 per license
  • Mar 29, 2022
Compare QT9 Quality Management Vs. SAP ERP

QT9 Quality Management is a cloud-based Manufacturing software that makes it possible for users to automate routines within a team, improve quality by centralizing requirements for compliance, and delegating approvers of tasks according to a laid down procedure.


13. SS­-CMMS

  • Best for: Small, medium and large size businesses
  • Price: starts at $9 per month
  • Jun 02, 2022
Compare SS­-CMMS Vs. SAP ERP

SS CMMS is a maintenance management software solution. It is a cloud based software meaning that it doesn’t require any dedicated physical memory to run the software. It can run on virtual servers and can be accessed via a remote web browser login. It is operating system agnostic.


14. Avantis EAM Solution

  • Best for: Small, medium and large size businesses
  • Price:
  • Jul 13, 2022
Compare Avantis EAM Solution Vs. SAP ERP

Avantis Enterprise Asset Management Solution is a cloud-based and on-premise solution that is designed for medium-sized businesses and large enterprises. AVEVA Enterprise Asset Management offers procurement, condition management, inventory management, predictive maintenance,and reporting functionali...


15. Azzier CMMS

  • Best for: Large business
  • Price:
  • Aug 25, 2022
Compare Azzier CMMS Vs. SAP ERP

Azzier CMMS is cloud-based customer maintenance and management solution which is developed for use in all types of businesses. The maintenance management solution can be implemented in various industries including Industrial manufacturing, Oil & Gas, Utilities, Government, Hospitality, Education and...


16. Huawei eSpace

  • Best for: Small, medium and large size businesses
  • Price: starts at $50 per month
  • Apr 17, 2022
Compare Huawei eSpace Vs. SAP ERP

eSpace is a business VoIP solution for businesses of all sizes. It offers such capabilities as call transfers over WiFi, routing of incoming calls, voicemail support, and others. The software was designed and launched by Huawei Technologies Co Ltd headquartered in China.


17. Facility Management

  • Best for: Medium and large size businesses
  • Price:
  • Apr 26, 2022
Compare Facility Management Vs. SAP ERP

Big Sky Facility Management is a facility management solution designed to help users track, resolve, capture and manage facility issues in multiple stores. The facility management software can automatically process and capture store requests related to maintenance services. Big Sky Techno...


18. iOFFICE

  • Best for: Small, medium and large size businesses
  • Price: starts at $500 per month
  • Apr 27, 2022
Compare iOFFICE Vs. SAP ERP

iOFFICE has 10 independent, fully integrated modules, that businesses can choose and pay for only the applications they need. Ranging from facilities and space management to package, asset and visitor tracking to conference and desk reservations, iOFFICE is the only 100% SaaS-based software on th...


19. AgileAssets

  • Best for: Large business
  • Price:
  • Apr 27, 2022
Compare AgileAssets Vs. SAP ERP

AgileAssets is an infrastructure asset management solution for businesses of all sizes. Its services include maintenance management, facilities management, fleet and equipment management, and others. The software was designed and launched by AgileAssets Inc headquartered in Texas, United...


20. Transpose

  • Best for: Small, medium and large size businesses
  • Price: starts at $14.99 per user/month
  • May 16, 2022
Compare Transpose Vs. SAP ERP

Transpose software is a cloud-based project management platform built for small to medium-sized organizations. The solution is appropriate for businesses in a variety of industries. Transpose software offers project workflows that are customizable, supports various media types and allows users to ac...


21. WOW! On the Web

  • Best for: Start up, Small business, Medium business
  • Price: starts at $39.99 per month
  • Apr 26, 2022
Compare WOW! On the Web Vs. SAP ERP

WOW! is a facility and property management solution for businesses of all sizes. It offers services related to management, accounting, marketing, and other aspects of property management. The software was designed and launched by Core 7 US Inc headquartered in Texas, United States.


22. Fluke Connect Condition Monitoring

  • Best for: Small, medium and large size businesses
  • Price: starts at $948 per year
  • May 14, 2022
Compare Fluke Connect Condition Monitoring Vs. SAP ERP

Fluke Connect Condition Monitoring a maintenance management software solution. It is a web based software solution, meaning that it does not require any physically dedicated memory to run. It can be accessed by the clients via any device that supports a web browser. It is operating system agnostic.


23. eWorkOrders

  • Best for: Medium business
  • Price: starts at $35 per feature/month
  • Apr 28, 2022
Compare eWorkOrders Vs. SAP ERP

eWorkOrders is a web based CMMS that harnesses the power and convenience of the Internet to allow individuals from different organizations – municipalities, real estate owners, property managers, building engineers, tenants, service providers, IT support and vendors – to work together in real-tim...


24. iMaint

  • Best for: Medium and large size businesses
  • Price: starts at $60 per user/month
  • Apr 27, 2022
Compare iMaint Vs. SAP ERP

IMaint provides maintenance management solutions. The software focuses on resolving critical maintenance challenges for organizations by developing effective preventive maintenance systems that will maximize a company’s Return on Investment (ROI). The developer of IMaint is DPSI and the company w...


25. KEY2ACT

  • Best for: Large business
  • Price:
  • May 21, 2022
Compare KEY2ACT Vs. SAP ERP

KEY2ACT is a cloud-based Booking and Scheduling software that enables service team managers to get insights from building data and convert them to actions for team mobility and communication.


26. ManagerPlus

  • Best for: SMBs
  • Price: starts at $85 per user/month
  • May 18, 2022
Compare ManagerPlus Vs. SAP ERP

ManagerPlus is a maintenance management software solution for asset intensive businesses. The software was designed by Manager Plus, headquartered in Texas, United States. The software provides integrated management services for asset, inventory, and maintenance management. 


27. QR Maintenance

  • Best for: Small, medium and large size businesses
  • Price: starts at $50 per feature/month
  • May 21, 2022
Compare QR Maintenance Vs. SAP ERP

QR Maintenance is a cloud-based Maintenance software that enables business owners to manage access to inventory and asset information and automatically handle inventory entries.


28. MAPCON CMMS

  • Best for: SMBs
  • Price: starts at $30 per month
  • May 19, 2022
Compare MAPCON CMMS Vs. SAP ERP

MAPCON CMMS is cloud-based maintenance software which is designed for manufacturing and facilities industries. The solution provides standalone asset management, work-order management and preventive maintenance among others.


29. Redmine

  • Best for: Small, medium and large size businesses
  • Price: starts at $6.90 per user/month
  • May 18, 2022
Compare Redmine Vs. SAP ERP

Easy Redmine is a project management solution for businesses of all sizes. It offers such services as budget management, portfolio management, task management, and others. The software was designed and launched by Easy Software Ltd headquartered in Czech Republic.


30. Fracttal

  • Best for: Small, medium and large size businesses
  • Price: starts at $255 per month
  • Jun 15, 2022
Compare Fracttal Vs. SAP ERP

Fracttal is a maintenance software that helps companies keep records of all their assets, facilities, vendors, historical data, and related information.


31. AyaNova

  • Best for: Small, medium and large size businesses
  • Price: starts at $159 per year
  • May 26, 2022
Compare AyaNova Vs. SAP ERP

AyaNova is a service dispatch software solution for businesses of all sizes. It offers such capabilities as billing and invoicing, call center management, customer self service, and others. The software was designed and launched by Ground Zero Tech-Works Inc headquartered in Canada.


32. SpendBoss

  • Best for: Small, medium and large size businesses
  • Price: starts at $30 per license
  • Jun 15, 2022
Compare SpendBoss Vs. SAP ERP

SpendBoss is a spend/asset management software designed for managers and business owners to provide real-time business analytics, control operational expenses, run locations swiftly, and acquire real-time information.


33. AssetMatrix

  • Best for: Large business
  • Price:
  • May 29, 2022
Compare AssetMatrix Vs. SAP ERP

HRMatrix is a maintenance software designed as an HR platform to help companies align resources to match their business goals.


34. Performo

  • Best for: Large business
  • Price:
  • Jun 18, 2022
Compare Performo Vs. SAP ERP

Performo is an asset management and work order tracking solution for businesses of all sizes. It also offers maintenance services in addition to reporting and integration capabilities. The software was designed and launched by Wizard Software Solutions Inc headquartered in Illinois, Unit...


35. Forward Thinking Systems

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 23, 2022
Compare Forward Thinking Systems Vs. SAP ERP

Forward Thinking Systems is a fleet management software designed to help businesses manage their fleet and increase profit. The software does this by tracking maintenance, fuel usage, driver performance, and vehicle activity.


36. MPulse

  • Best for: Small, medium and large size businesses
  • Price: starts at $80 per user/month
  • Jun 18, 2022
Compare MPulse Vs. SAP ERP

MPulse offers a maintenance management solution. The software provides maintenance solutions for tracking, scheduling and reporting to extend the life of a company’s assets and equipment. MPulse was founded in 1995 with the goal of helping customers reduce maintenance expenses and minimize equipm...


37. Infor EAM

  • Best for: Medium and large size businesses
  • Price:
  • Jun 16, 2022
Compare Infor EAM Vs. SAP ERP

Infor EAM is a comprehensive suite of asset management tools. It allows companies to increase reliability, manage asset maintenance, and reduce energy usage. Infor EAM helps companies to efficiently deploy maintenance resources, manage work processes, schedule maintenance based on asset condition an...


38. B2W Maintain

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 24, 2022
Compare B2W Maintain Vs. SAP ERP

B2W Maintain is a construction equipment management software designed to help users keep equipment on the job. The software can help users to optimize production and minimize unplanned downtime by facilitating communication about equipment management between the field and shop. It can help users to ...


39. Azuga

  • Best for: Small, medium and large size businesses
  • Price: starts at $28 per month
  • Jul 04, 2022
Compare Azuga Vs. SAP ERP

Azuga is a fleet management software designed to help businesses monitor drivers behavior and offer rewards for good driving behavior. The software helps to provide fleets performance updates directly to the drivers and notify them of vehicle maintenance.


40. The Asset Guardian (TAG)

  • Best for: Small, medium and large size businesses
  • Price:
  • Aug 23, 2022
Compare The Asset Guardian (TAG) Vs. SAP ERP

The Asset Guardian (TAG) is a growing cloud-based Maintenance software, it is designed to support small, medium and large size business. The Asset Guardian (TAG) received a rating of 5 from ITQlick team. The software cost is considered affordable (4/5) when compared to alternative solutions.


41. ManWinWin Software

  • Best for: Small, medium and large size businesses
  • Price: starts at $599 per license
  • Jul 06, 2022
Compare ManWinWin Software Vs. SAP ERP

ManWinWin Software is a maintenance management solution for businesses of all sizes. It offers such capabilities as calibration management, preventive maintenance, work order management, and others. The software was designed and launched by MainWinWin Software headquartered in Portugal.


42. BuildOps

  • Best for: Small, medium and large size businesses
  • Price:
  • May 14, 2022
Compare BuildOps Vs. SAP ERP

BuildOps is a field service management software designed for commercial contractors to schedule and dispatch technicians with the right skill set for jobs, build and track proposals and quotes, gather and evaluate customer information, and monitor assets across job sites.


43. HotelKey PMS

  • Best for: SMBs
  • Price: starts at $3 per month
  • May 16, 2022
Compare HotelKey PMS Vs. SAP ERP

HotelKey is a hotel management software designed to help property owners and managers make front office operations efficient and clean. It offers a guided workflow from receiving guests, booking a room to checking out a departure.


44. FleetLocate

  • Best for: Large business
  • Price:
  • Jul 09, 2022
Compare FleetLocate Vs. SAP ERP

FleetLocate is a fleet management solution designed to assist in managing a company off-the-field assets such as vehicles and drivers. It gives real-time info on vehicle location, drivers behavior, and overall insights on how to reduce cost and improve productivity.


45. WebDPW

  • Best for: SMBs
  • Price: starts at $20 per license
  • Jul 05, 2022
Compare WebDPW Vs. SAP ERP

WebDPW™ is web-based, so you can manage your organization any place you have internet access. Google Maps are incorporated into the package, so you can better organize your projects, employees and travel time. Spend less time managing your organization and more time improving it with WebDPW™ Work Or...


46. Loc8

  • Best for: Small, medium and large size businesses
  • Price: starts at $10 per user/month
  • Jul 12, 2022
Compare Loc8 Vs. SAP ERP

Loc8 is a maintenance management solution for companies. It is a cloud based software that can be accessed via the internet remotely through a web browser. It is operating system agnostic. It can also handle the asset management and the invoicing of the company.


47. ClearPathGPS Software

  • Best for: SMBs
  • Price: starts at $20 per user/month
  • Jul 13, 2022
Compare ClearPathGPS Software Vs. SAP ERP

ClearpathGPS is a fleet management software designed to help the transporting department of establishments keep track of their drivers and vehicles activities, review daily routes, and increase productivity.


48. Proteus CMMS

  • Best for: Small businesses and start ups
  • Price: starts at $33 per user/month
  • Jul 04, 2022
Compare Proteus CMMS Vs. SAP ERP

Proteus CMMS is a maintenance management software designed for businesses to manage assets, schedule preventive maintenance, manage work orders, and monitor equipment.


49. EZmaintain

  • Best for: Small, medium and large size businesses
  • Price: starts at $49.99 per month
  • Jul 13, 2022
Compare EZmaintain Vs. SAP ERP

EZmaintain is a computerized maintenance management software (CMMS) built to track health Asset conditions, create schedules, organize work orders, monitor and manage fleets, scaling, and managing municipal locations.


50. Agility by SSG Insight

  • Best for: Small, medium and large size businesses
  • Price:
  • Jul 24, 2022
Compare Agility by SSG Insight Vs. SAP ERP

AgilityCore is a maintenance software designed as a cloud platform for core workflow and asset management. The software helps reduce paperwork, admin time, breakdowns, and stock levels.


51. Brandfolder

  • Best for: Small, medium and large size businesses
  • Price: starts at $1,600 per feature
  • Jul 19, 2022
Compare Brandfolder Vs. SAP ERP

Brandfolder is a cloud-based document and asset management software for small to large enterprises. It offers asset sharing, fast on-boarding, metadata search, asset tagging, file management, social sharing, identity management, brand management, and more features. Brandfolder was founded in 2012.


52. RASTRAC

  • Best for: Small, medium and large size businesses
  • Price:
  • Jul 24, 2022
Compare RASTRAC Vs. SAP ERP

RASTRAC is a fleet management software powered with GPS tracking technology that businesses can use to track assets and fleets anywhere.


53. Fixd

  • Best for: Small, medium and large size businesses
  • Price: starts at $59 per license
  • Jul 19, 2022
Compare Fixd Vs. SAP ERP

Fixd is a maintenance software designed to help businesses manage and carry out reactive and preventive maintenance on assets. The software enables users to create, plan, and track scheduled and unscheduled tasks like breakdowns.


54. ServiceChannel

  • Best for: Small, medium and large size businesses
  • Price:
  • Jul 27, 2022
Compare ServiceChannel Vs. SAP ERP

ServiceChannel is a cloud-based computerized maintenance management software solution. The software is designed to assist facilities managers to pay for repair and maintenance services. In addition, the software also assists in sourcing and procuring these services from commercial contractors across...



A Buyer's Guide to Business Software Solutions

How to Evaluate and Buy Business Software
 
If you’re somehow puzzled if this article is only for a specific size of business, no, it’s not. This is for you SMEs, MNEs and start-ups software buyers. Also, we’re not talking about a specific software solution here. Whether the software solution that you’re planning to buy is for Accounting, Business Intelligence, ERP, CRM, Help Desk, Maintenance Management or other types of application, one thing is for sure; with the help of this article, you will be able to know the right process in evaluating and buying a business software solution.
 
We’ve been into the software business for years and we’re seeing a lot of nitty-gritty things that often bring confusions and hesitations to many companies looking for better software solutions. Some companies can’t afford to let go their legacy systems while a few is encountering technological snags once the new system is in place. While this is the underlying truth behind software acquisition and implementation, what’s exciting about buying a business software solution is that there is a clear and obvious proof that thousands of companies and corporations today are happy with the benefits this technology is bringing into their respective businesses.  There is a significant increase in their revenue and the growth is on-going. And it’s easy to say; many from the Fortune 500 companies are making a lot of money because of their smartly-acquired business software.
 
So, let’s get straight to the point. What should you do in order to acquire that business software that could make your organization achieve its goals? The answer to this is pretty straightforward: evaluate and buy that right business software. Yes, that’s what you need to do and here’s the best manual from ITQlick.com that could certainly help you in doing that strategically.
 
Consider the Needs of Your Organization
Let’s assume that at this point, the entire management team agreed that you are ready to invest on a certain software application. The budget has been compromised and the key persons who will be involved in the acquisition process were already identified. Therefore, it’s time to approach things the project management way.
 
Define the Project
Every business software solution is categorized base on application type, features, deployment model, market size and pricing model. Remember that our objective here is to evaluate and buy a business software product that will fit into the size and present needs of your business. So what the project management team should try to deal with first is to define the real requirements of your business exactly base on the categories set by the software industry. Moreover, by doing this activity, you are already narrowing down your search for the right solution. Now, consider bringing this list of FAQs to the project management and aim to come up with clear-cut answers.
 
  1. What type of software is needed? Is it Integrated-Suite, Best-of-Breed or Industry-Specific? Ask your CEO’s main agenda and find the perfect match from these available options.
  2. What are the core and secondary features? Are you looking for basic, advanced or hi-end features? List down the specific features per category and allow the department managers and supervisors to give their insights on this list.
  3. How are you going to deploy the system? Would it be on-premise, cloud-based, hosted, or mobile-based? Weigh these options with the help of your CIO.
  4. Are you going for Tier 1, Tier 2 or Tier 3 vendors? Their offered solutions are base on the size of their target market - SMEs, MNEs or start-ups. Seek your CFO’s advice as it is important to match your financial capacity against the cost of the solution that the providers have for you.
  5. Are you willing to pay for the perpetuity software license or a subscription-based solution is way better? How many users are there and what would be their roles in using the system? Solicit feedbacks from future end users for they know better what challenges and risks might possibly come along their way when they’re using the system.
 
Finalize the BOM or List of Requirements
After providing definite answers on the above questions, we can say that the project has already been defined. Your procurement team is now ready to do their role in the acquisition process of this solution. However, in order for them to execute their job properly, they must have the complete list of requirements - features, specifications, hardware, and the software product. In other words, the Bill-of-Materials (BOM) that is final, complete and well-prepared must be handed over to the procurement director. Needless to say, it is very important that everybody is following the company purchasing and procurement protocols at all times.  
 
Request for Proposal (RFP)
The RFP process will bring everything into formality. Since you’re more likely in a line of business that doesn’t regularly buy software products, it is of critical importance that your RFP is well-structured before you send it to your prospect solution providers.
 
Draft the RFP
An RFP that contains all the relevant information as discussed during the project management meetings will enable the providers to return back to you their proposal that is complete and substantial. Therefore, your RFP should basically contain the following:
 
Brief Introduction
  • Company Name
  • Mission and Goals
  • Purpose of the RFP (or the need for software solution)
Business Background
  • Organizational Structure
  • Current Situation (IT infrastructure, system currently in-use, system issues and desired solutions, etc.)
  • Major Objectives of the Software Purchase
Request for Specific Requirements
  • Solution Functionality
  • System Specifications
  • Vendor Company Information
  • Price Model, Service Plans, Package Options
Other Important Inquiries (if necessary)
 
Send the RFP
Well-structured RFP will bring a lot of advantages especially when the proposals from various providers are received and then subjected for review and analysis. Send your RFP to at least three to five providers (or prospects which you have already shortlisted during the project definition phase). Depending on the complexity of the solution, most vendors will send their proposal in a matter of time, which could be around 4 to 6 weeks for Integrated-Suite solution.
 
Why still send RFP?
Is there really a need for RFP if your preferred solution (like cloud-based) and the service plans or packages are already displayed on the vendor’s website? Well, yes, you still need to undergo the RFP process. For most sales people, they certainly know that those figures appearing in the vendor’s website are usually the “list price” and not the “actual price”. More importantly, the vendor’s proposal (response to RFP) will serve as your main basis for the negotiation. Therefore, sending an RFP is a strict requirement.
 
Follow up questions relevant to RFP
More often than not, questions and concerns will be raised by the vendors to whom you send the RFP. You have to entertain them with utmost professionalism. Solution providers who are seeking further clarifications relevant to the RFP are consisting of professional software experts who wants to help your organization as much as they can. Entertain them but at the same time, always be cautious when providing additional information which you know is confidential or proprietary.
 
Evaluate the Proposals
Always refer to your finalized BOM when tabulating the contents of each proposal. Part of this process is to check the features that are available from this certain vendor and to cross out those that are not. While using spreadsheet aids the tabulation process, laying down the document proposals on the table and allowing your project management team to review them one by one should always be conducted. Evaluating the proposals in full force can help strengthen your decision-making process. Have another round of brain-storming session and come with the name of your preferred solution provider.
 
When selecting the final vendor, always promote the best interest of your organization. Consider answering these questions with full sincerity.
 
  1. Which vendor can provide the long-term benefits to your organization?
  2. Which vendor can provide the best and honest service from acquisition to full implementation?
  3. Which vendor is willing to devote most of its time in better serving its client?
 
Contact this solution provider and in your own strategic approach, try to get the answers to those three important questions above. In most cases, vendor who really wants to prove its craft will offer product demos on a higher level. Others will even invite you to check their already deployed and working systems. Feel free to connect with this type of vendor. Conduct simulation and testing, be it a cloud-based or on-premise solution. Examine all aspects and angles especially those that your project management team want to really know in-depth. For as long as it could help you arrive at a better decision, consider doing all the options available – for the interest of the organization.
 
Enter the Negotiation Process
Most solutions providers can be flexible in terms of pricing. Although the final say is oftentimes on the mouth of the sales person from the vendor’s side, a good negotiation process can always deliver a win-win situation to both parties involve. While negotiation sometimes cannot be settled in one sitting session, always be honest with your intentions whenever negotiating with your provider. If it’s about your budget, justify it with clarity. If it’s about their service plans, tell them what’s lacking or missing on their solution. At the end of the day, the most important event that should happen is that both of you are shaking hands because of a well done negotiation process.
 
Seal the Contract
So what are you going to do on a contract that involves a significant amount of investment? There are three project management approaches for this.
 
  1. Pass the ball to you legal team. They know what to do and more or less they will tell you if there is something wrong with the contract. Give them enough time to review before they affix their signature and then finally seal the contract.
  2. Hire a consultant base on the technical aspect that you want to clarify in the contract. If it’s the Scope of Work (SOW), a software implementation expert is the right person. If it is related to complex legal terms and conditions, a lawyer can help. If it has something to do with money, invite an accountant to conduct a thorough review and computation if necessary.
  3. Always consider consulting your project management team. Remember that the CIO, CFO and CEO are all team members. They will be the signatories and they know what’s best for the interest of the company when signing a contract agreement.
 
From evaluation to buying stage, it is important that the project manager must take full responsibility of monitoring all the works identified and distributed among team members. This is why delegating the right project manager is also an important consideration when buying a business software solution. And again, ITQlick.com wants to emphasize that whatever the size of your company is, using the project management approach will always lead you into a better outcome – that is getting what you paid for the right business software solution. 

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Author - Shlomi Lavi

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Shlomi Lavi is an entrepreneur and founder of ITQlick.com. He holds a Bachelor of Science (B.Sc.) in Information Systems Engineering from Ben Gurion University in Israel. Shlomi brings 17 years of global IT and IS management experience as a consultant and implementation expert for small, medium and large-sized (global) companies. Shlomi’s goal is to share the best knowledge and news about information systems so you can make smarter buying decisions for your business.