Top 54 Data Warehousing Software

2022's Best 54 Data Warehousing Systems

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1. SuiteAnalytics

  • Best for: Small, medium and large size businesses
  • Price: starts at $499 per month + $99 per user
  • Mar 09, 2022
Compare SuiteAnalytics Vs. SuiteAnalytics

NetSuite Analytics is a software solution that provides clients with real time BI or business intelligence for analysis and reporting, enterprise planning, e-commerce, customer relationship management or CRM, and all this with real-time dashboard data. The software uses cloud to give users a real-ti...


2. Sisense

  • Best for: Small, medium and large size businesses
  • Price: starts at $83 per employee/month
  • Mar 09, 2022
Compare Sisense Vs. SuiteAnalytics

Sisense is a business analytics software used for business intelligence. Main functions include information collection, analysis, organization and producing reports. The users of this software have the benefit of selecting the data that they would want to analyze. You dont have to be an IT guru to u...


3. IBM Cognos Business Intelligence

  • Best for: Medium and large size businesses
  • Price: starts at $10 per user/month
  • Mar 12, 2022
Compare IBM Cognos Business Intelligence Vs. SuiteAnalytics

IBM Cognos Business Intelligence is a growing cloud-based BI software, it is designed to support medium and large size business. IBM Cognos Business Intelligence received a rating of 4.1 from ITQlick team. The software cost is considered average (3.8/5) when compared to other solutions in their c...


4. Birst

  • Best for: Medium and large size businesses
  • Price:
  • Nov 17, 2022
Compare Birst Vs. SuiteAnalytics

Birst is a Business Intelligence and analytics platform for medium to large businesses. Its key features include ad hoc reporting, charting, data import and export, visual analytics, customer service analytics, and more.


5. Microsoft SharePoint

  • Best for: Medium and large size businesses
  • Price: starts at $5 per user/month
  • Mar 12, 2022
Compare Microsoft SharePoint Vs. SuiteAnalytics

SharePoint makes it easy to store, sync and share all your important content. A new simplified user experience helps you streamline common tasks and create sites to keep teams in sync. New work management capabilities help you organize all your tasks from across SharePoint, Project and Outlook with ...


6. Eventzilla

  • Best for: Small, medium and large size businesses
  • Price: starts at $1.50 per license
  • Mar 20, 2022
Compare Eventzilla Vs. SuiteAnalytics

Eventzilla is a trending cloud-based BI software, it is designed to support small, medium and large size business. Eventzilla received a rating of 4.4 from ITQlick team. The software cost is considered affordable (1/5) when compared to alternative solutions.


7. SAP NetWeaver Business Warehouse

  • Best for: Medium and large size businesses
  • Price:
  • Mar 15, 2022
Compare SAP NetWeaver Business Warehouse Vs. SuiteAnalytics

SAP NetWeaver BW is an integrated, cloud-based business intelligence software that offers data management and data warehousing tools designed for businesses of all sizes. The software enables businesses to pool together and format huge quantities of business data using an enterprise data warehouse.


8. Tableau Desktop

  • Best for: SMBs
  • Price: starts at $70 per user/month
  • Apr 22, 2022
Compare Tableau Desktop Vs. SuiteAnalytics

Tableau is a cloud-based integrated business intelligence and reporting solution designed for small, midsize and large businesses. The solution helps the user analyze the critical business data as well as generate useful insights.


9. Tableau

  • Best for: Small, medium and large size businesses
  • Price: starts at $15 per user/month
  • Apr 21, 2022
Compare Tableau Vs. SuiteAnalytics

Tableau is a family of data visualization software designed for business intelligence that includes Tableau Desktop, Tableau Online, Tableau Server, Tableau Public and Tableau Reader. The Tableau suite is intended for viewing and understanding business data through interactive data visualization. ...


10. Microsoft BI

  • Best for: Start up, Small business, Medium business, Large business
  • Price: starts at $9.99 per user/month
  • May 22, 2022
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Microsoft BI is a business intelligence solution that can help users to analyze data in an efficient way. The software is based on SQL server platform and can provide relevant reports without requiring any expensive IT support. Users can get access to the necessary data at the right time and make in...


Pricing Guide - Data Warehousing Software:

Business Intelligence Tools Price Range

For business intelligence software, the price sits around $3,000 per year for a user. However, it is worth noting that this price range is associated with the medium offering or package from each software vendor; in essence, it is suitable for small & medium-sized businesses. More robust offerings have volatile pricings that are adjusted to suit large businesses.

Users are expected to pay between $10 to $75 for a single user account, depending on the offering level. Examples are Prisync pricing is priced at $60 per month, ClearView InFocus, which costs $25 monthly, and SEMRush pricing sit around $100 monthly. However, SAP Business Objects costs $14,000 per year but includes 10 user accounts.

Additionally, business intelligence software can be targeted at SMBs or large-sized businesses. However, there are others that are meant for any business size. The software that is apt for each business size and their prices are as follows:

  • Small Businesses can expect to pay between $10–$50 monthly for a single account business intelligence software. For BI software that includes multiple accounts, they can expect to pay between $300–$500 per month. However, some other vendors like Britix24, Manage Engine Analytics Plus, and BI360 offer their low-end package free for small businesses, although with limited features. Some BI software for small businesses are Competitors App, which costs around $7 per month, KlipFolio $50 monthly, and AnswerDock $20 per month.
  • Medium Businesses can expect to pay between $50–$500 for a business intelligence software, depending on the number of accounts on each offering. For instance, Tableau pricing costs $70 for a single account, while Funnel and CYS cost around $500 and $300 respectively for pre-set multiple accounts.
  • Large Businesses can expect to pay $500–$10,000 for BI software packages that include a large workforce and around $60 for a single account. For instance, Prisync ultimate package costs around $300 monthly per user but allows only a minimum of 10 accounts, which amount to $3,000. Also, ArcGIS costs $1,500, and IBI is priced around $150 per month.

The price range for BI best of breed are as follows:

  • Reporting Software This subcategory of BI software has a price that ranges from $10 and $45, depending on the offering level. For example, Agent360 Marketing Reporting pricing starts from $80 per month for 5 users, Syncfusion Bold Reports costs $200 per month for 5 users, Germain APM cost up to $30 per day based on APM unit.
  • Data Visualization Software The price for software in this category ranges from $10 to $50 per user monthly. On the other hand, some others are completely free to use. Google Charts, for example, comes at no fee. However, software like Qlik Sense costs $15 per month per user, while Power BI costs more than $10 monthly per user.
  • Dashboard Software Dashboard software pricing is usually divided into three tiers, which range from $9 to $12, $12 to $27, and above $30, respectively; the price is usually set based on the number of dashboards made available in a month. Some dashboard software with this similar price are Cluvio, which costs $280 for 50 dashboards monthly, Microsoft Dynamics 365, which costs $190 monthly per user for a number of dashboards. Others are iClassPro = $130 and ThortSpace = around $10 monthly per user.
  • Risk Management Software Many products in this category are priced on a yearly basis, which, in many cases, may be per user. They can also be divided into three categories, of which the lowest offering range from $70 to $400, medium offering from $400 to $10,000, and the ultimate package from $10,000 upwards. Some products have monthly pricing regardless; for example, Goat Risk, which costs $15 per user, and OneSoft Connect, which costs around $6 per user. An example of a product with yearly pricing is Analytic Solver, which costs $250 per user. Lastly, some risk management software have one-time fees, like IsoMetrix, which costs $34,000 for a buyout.
  • Embedded Analytics Software The pricing for embedded analytics software is often divided into three tiers, usually to suit small businesses, medium businesses, and large businesses. The price ranges from $10 to $15, $15 to $325, and above $325 for each respective tire. Stratifyd is an embedded analytics software with yearly pricing of $1,000 per user. Others are GoodData, which costs $2,400 per year, INFRAGISTIC Reveal, which costs around $10 per user per month.

11. Helical Insight

  • Best for: Small businesses and start ups
  • Price: Has a free version
  • Oct 18, 2022
Compare Helical Insight Vs. SuiteAnalytics

Helical Insights is a web-based Business Intelligence software that allows managers to interact with organizational data using Machine Learning and NLP (Natural Language Processing).


12. BIME Analytics

  • Best for: Small, medium and large size businesses
  • Price: starts at $490 per month
  • Nov 11, 2022
Compare BIME Analytics Vs. SuiteAnalytics

BIME delivers a simple-to-use yet powerful data analysis and dashboarding cloud platform accessible everywhere that enables modern organizations to explore, understand and communicate data with style.


13. PLEXIS Payer Platforms

  • Best for: Small, medium and large size businesses
  • Price:
  • May 21, 2022
Compare PLEXIS Payer Platforms Vs. SuiteAnalytics

PLEXIS Payers is a cloud-based Claims Management software that assists Healthcare workers in processing claims and handling administration as it affects ROI.


14. GoodData

  • Best for: Small, medium and large size businesses
  • Price: starts at $2,400 per year
  • Jun 23, 2022
Compare GoodData Vs. SuiteAnalytics

GoodData is a cloud-based BI software that allows businesses to easily read through their data and quickly answer critical questions by offering visual analysis tools that support data sharing and interpretation for deriving strategical insights. GoodData is developed by a company of the same na...


15. Instant Answers

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 24, 2022
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DataRPM is a business intelligence and analytics solution for small and medium businesses. It offers customized reporting and dashboards along with in-depth analytics management. The software was designed and launched by DataRPM Corporation headquartered in Virginia, United States.


16. Stratum

  • Best for: Medium and large size businesses
  • Price:
  • Jul 05, 2022
Compare Stratum Vs. SuiteAnalytics

Stratum offers Business Intelligence (BI) solutions for manufacturers & distributors. The software is designed to provide greater insight to customers’ businesses through analytics and reporting software that is low risk, quick to install, easy to use and provides a fast Return on Investment (ROI). ...


17. Agile Data Suite (ADS)

  • Best for: Medium and large size businesses
  • Price:
  • Jul 04, 2022
Compare Agile Data Suite (ADS) Vs. SuiteAnalytics

Agile Data Suite is a business intelligence and data storage solution for businesses of all sizes. It offers application management, data integration, customizable reporting, and other services. The software was designed and launched by Datric Inc headquartered in North Carolina, United ...


18. Analance Business Intelligence Suite

  • Best for: Small, medium and large size businesses
  • Price:
  • Jul 18, 2022
Compare Analance Business Intelligence Suite Vs. SuiteAnalytics

Analance Business Intelligence Suite is a cloud-based as well as on-premise hybrid business-intelligence software that helps businesses in all fields. It helps the users in collaboration activities and data analysis tasks to integrate the data captured for assessment.


19. IQLECT

  • Best for: Small, medium and large size businesses
  • Price: starts at $250 per month
  • Jul 24, 2022
Compare IQLECT Vs. SuiteAnalytics

IQLECT is a growing cloud-based BI software, it is designed to support small, medium and large size business. IQLECT received a rating of 4.3 from ITQlick team. The software cost is considered affordable (1.5/5) when compared to alternative solutions.


20. Profitbase Retail BI

  • Best for: Small, medium and large size businesses
  • Price:
  • Jul 15, 2022
Compare Profitbase Retail BI Vs. SuiteAnalytics

Profitbase Retail BI is a business intelligence solution with out-of-the-box templates and software tools to help users reduce the cost, risk and deployment times. The solution can provide 360 degree visibility to all parts of business performance and can help users to track and plan on performance ...


21. Tableau Server

  • Best for: Medium and large size businesses
  • Price: starts at $15 per user/month
  • Jul 25, 2022
Compare Tableau Server Vs. SuiteAnalytics

Tableau Server is a business intelligence application that allows users to conduct easy to use browser based analytics. It is one of the fastest alternatives to the traditional business intelligence software. What makes the application different is how it can be used by almost any user on almost any...


22. TIBCO Spotfire S+

  • Best for: Small, medium and large size businesses
  • Price: starts at $650 per user/year
  • Jul 25, 2022
Compare TIBCO Spotfire S+ Vs. SuiteAnalytics

TIBCO Spotfire S+ is a software developed to help users unlock the information hidden in their data and compete in the fierce market environment that the world has turned into. It is the application that will allow businesses to gain fast insights and make agile, competitive decisions for the overal...


23. Kyndi

  • Best for: Small, medium and large size businesses
  • Price:
  • May 19, 2022
Compare Kyndi Vs. SuiteAnalytics

Kyndi is a reading automation software that enables businesses to automate reading tasks and improve employee productivity knowledge. The software uses its discovery engine to simplify long texts, identify frequent important keywords, and locate relevant data in quantities.


24. CXO

  • Best for: Medium and large size businesses
  • Price:
  • Oct 19, 2022
Compare CXO Vs. SuiteAnalytics

CXO is a business intelligence tool designed to help organizations take control of input and processing, using a toolset that consists of an intuitive dashboard, financial reports, and data-driven analytics.


25. ZAP Data Intelligence

  • Best for: Medium business
  • Price:
  • May 19, 2022
Compare ZAP Data Intelligence Vs. SuiteAnalytics

The ZAP Data Intelligence is BI software offering users with end-to-end data analytics and management working to simplify and automate the process of collection, organization and analyzing of data.


26. Informatica PowerExchange

  • Best for: Medium and large size businesses
  • Price: starts at $24,528 per year
  • Feb 21, 2022
Compare Informatica PowerExchange Vs. SuiteAnalytics

PowerExchange is information and knowledge management software for businesses of all sizes. It works to reduce the development costs and prevent unauthorized access to sensitive data. The software is a product of Informatica Corporation headquartered in California, United States.


27. DataPlay

  • Best for: Small, medium and large size businesses
  • Price: starts at $140 per user/month
  • Feb 26, 2022
Compare DataPlay Vs. SuiteAnalytics

The DataPlay allows users to fully maximize data analysis, presentation and visualization via cloud. Part of its appeal is that it can be used with any device.


28. Salesforce Einstein Analytics Cloud (Wave)

  • Best for: Small, medium and large size businesses
  • Price: starts at $84.55 per user/month
  • Feb 26, 2022
Compare Salesforce Einstein Analytics Cloud (Wave) Vs. SuiteAnalytics

Salesforce Einstein Analytics Cloud (Wave) is a fast growing cloud-based BI software, it is designed to support small, medium and large size business. Salesforce Einstein Analytics Cloud (Wave) received a rating of 4.2 from ITQlick team. The software cost is considered affordable (4/5) when compare...


29. ClearStory Data

  • Best for: Medium and large size businesses
  • Price:
  • May 31, 2022
Compare ClearStory Data Vs. SuiteAnalytics

ClearStory Data is a BI or Business Intelligence software created to aid organizations, department, and businesses in finding and collaborating ideas. Its key features include Automated Data Preparation, Smart Data Discovery, Data Inference and Profiling, Data Visualization, and Intelligent Data Ble...


30. DataTap

  • Best for: Small, medium and large size businesses
  • Price: starts at $1 per license
  • Mar 07, 2022
Compare DataTap Vs. SuiteAnalytics

DataTap is a trending cloud-based BI software, it is designed to support small, medium and large size business. DataTap received a rating of 3 from ITQlick team. The software cost is considered affordable (1.2/5) when compared to alternative solutions.


31. ShipMonk

  • Best for: SMBs
  • Price: starts at $3 per order
  • Mar 22, 2022
Compare ShipMonk Vs. SuiteAnalytics

ShipMonk is a leading cloud-based Inventory Management software, it is designed to support small and medium size business. ShipMonk received a rating of 4.4 from ITQlick team. The software cost is considered affordable (1.3/5) when compared to alternative solutions.


32. Neural Designer

  • Best for: Small businesses and start ups
  • Price: starts at $2,495 per user/year
  • Mar 22, 2022
Compare Neural Designer Vs. SuiteAnalytics

The Neural Designer is business intelligence software making use of neural networks for easy business data analysis and reporting.


33. CoolaData

  • Best for: SMBs
  • Price:
  • Mar 09, 2022
Compare CoolaData Vs. SuiteAnalytics

CoolaData is a business intelligence software solution for businesses of all sizes. It offers big data management, real time analytics, application development, and other capabilities. The software was designed and launched by CoolaData headquartered in Tel Aviv, Israel.


34. BOARD

  • Best for: Medium and large size businesses
  • Price:
  • Mar 23, 2022
Compare BOARD Vs. SuiteAnalytics

BOARD is a business analytics and performance management software developed for small to large enterprises. Its key features include ad hoc analysis and reporting, budgeting, planning & forecasting, business intelligence, predictive analytics, simulation models, and workflow management to name a few...


35. BI360

  • Best for: Small, medium and large size businesses
  • Price: starts at $312 per user/month
  • Mar 23, 2022
Compare BI360 Vs. SuiteAnalytics

BI360 is a Business Intelligence software built for small to large companies. It aims to catalyze business growth, efficiency, and performance. Its key features include ad hoc reporting, performance analysis, predictive analytics, budgeting, modeling, and more.


36. SAP BusinessObjects BI

  • Best for: Large business
  • Price: starts at $14,000 per year
  • Mar 23, 2022
Compare SAP BusinessObjects BI Vs. SuiteAnalytics

SAP Business Objects BI is a cloud-based business intelligence solution designed for small and medium-size businesses. The solution core features include predictive dashboards, ad-hoc reporting, crystal reports and more. The solution deployment options include cloud-based and on-premise.


37. Ideata Analytics

  • Best for: Small, medium and large size businesses
  • Price:
  • Mar 25, 2022
Compare Ideata Analytics Vs. SuiteAnalytics

Ideata Analytics is a visualization and self-service data preparation software. Here, data analytics is made easy, simple and fast. This tool can transform data into insights that will benefit the users more.


38. MITS Distributor Analytics

  • Best for: Small, medium and large size businesses
  • Price: starts at $10,000 per license
  • Oct 29, 2022
Compare MITS Distributor Analytics Vs. SuiteAnalytics

MITS Distributor Analytics is cloud-based and on-premise comprehensive reporting and business intelligence solutions, empowers non-technical users to make better decisions using the data that is obtained from other systems such as the enterprise resource planning systems.


39. Kyubit Business Intelligence

  • Best for: SMBs
  • Price: starts at $695 per license
  • Mar 25, 2022
Compare Kyubit Business Intelligence Vs. SuiteAnalytics

Kyubit Business Intelligence is a growing cloud-based BI software, it is designed to support small and medium size business. Kyubit Business Intelligence received a rating of 4.4 from ITQlick team. The software cost is considered affordable (1.2/5) when compared to alternative solutions.


40. Reifier

  • Best for: Small, medium and large size businesses
  • Price:
  • Nov 01, 2022
Compare Reifier Vs. SuiteAnalytics

Agile data mastering at scale with AI for better business with ease.


41. TARGIT Decision Suite

  • Best for: Small, medium and large size businesses
  • Price: starts at $15,000 per license
  • Mar 31, 2022
Compare TARGIT Decision Suite Vs. SuiteAnalytics

TARGIT Decision Suite is a business intelligence/BI software offering users with simple yet comprehensive self-service data analytics.


42. SQL Server Data Warehouse

  • Best for: SMBs
  • Price: starts at $876 per month
  • Apr 07, 2022
Compare SQL Server Data Warehouse Vs. SuiteAnalytics

SQL Server Data Warehouse is a database administration and warehousing solution for businesses of all sizes. It acts as part of Microsoft SQL Server and offers data extraction, transformation, and other capabilities. The software was designed and launched by Microsoft Corporation headquartered in Wa...


43. Web Hosting Services

  • Best for: Small, medium and large size businesses
  • Price: starts at $2.75 per month
  • Apr 19, 2021
Compare Web Hosting Services Vs. SuiteAnalytics

Web Hosting Services is a growing cloud-based Web hosting software, it is designed to support small, medium and large size business. Web Hosting Services received a rating of 4.8 from ITQlick team. The software cost is considered average (3.1/5) when compared to other solutions in their category.


44. CredAbility

  • Best for: Start up, Small business, Medium business, Large business
  • Price:
  • Jun 22, 2022
Compare CredAbility Vs. SuiteAnalytics

CredAbility is a credit counseling and debt management solution for businesses of all sizes. Its services include budget counseling, housing counseling, bankruptcy counseling, and others. The software was designed and launched by ClearPoint Credit Counseling Solutions headquartered in Ge...


45. Funnel

  • Best for: SMBs
  • Price: starts at $499 per month
  • Sep 09, 2019
Compare Funnel Vs. SuiteAnalytics

Funnel is an award-winning cloud-based eCommerce software, it is designed to support small and medium size business. Funnel received a rating of 5 from ITQlick team. The software cost is considered affordable (2.2/5) when compared to alternative solutions.


46. Fujitsu Data Center Outsourcing

  • Best for: Medium and large size businesses
  • Price:
  • May 20, 2022
Compare Fujitsu Data Center Outsourcing Vs. SuiteAnalytics

Fujitsu Data Center Outsourcing is a package of data center management solutions for businesses of all sizes. It offers faster system deployment and improves the overall service levels. The system was designed and launched by Fujitsu Ltd. headquartered in Tokyo, Japan.


47. Easy Insight

  • Best for: Small business, Medium business, Private use
  • Price: starts at $29 per month
  • May 30, 2022
Compare Easy Insight Vs. SuiteAnalytics

Easy Insight is a web based business intelligence and analytics solution for businesses of all sizes. Its capabilities include data visualizations, data import and export, reporting, and others. The software was designed and launched by Easy Insight LLC headquartered in Colorado, United States.


48. BIReady

  • Best for: Start up, Small business, Medium business, Large business
  • Price: starts at $15,000 per license
  • Jun 20, 2022
Compare BIReady Vs. SuiteAnalytics

BIReady is a data warehouse automation solution for businesses of all sizes. It manages structured as well as unstructured data and offers dashboard, reporting, and other capabilities. The software was designed and launched by BIReady Inc headquartered in New York, United States.


49. SunFish HR

  • Best for: Small, medium and large size businesses
  • Price: Has a free version
  • Jul 21, 2022
Compare SunFish HR Vs. SuiteAnalytics

SunFish HR is a human resource management solution for businesses of all sizes. It offers such services as talent management, recruitment management, inventory management, and others. The software was designed and launched by DataOn Corporation headquartered in Jakarta, Indonesia.


50. eArchiveSM

  • Best for: Small, medium and large size businesses
  • Price: starts at $49 per month
  • Nov 15, 2022
Compare eArchiveSM Vs. SuiteAnalytics

eArchiveSM is a growing cloud-based Security software, it is designed to support small, medium and large size business. eArchiveSM received a rating of 5 from ITQlick team. The software cost is considered average (3.3/5) when compared to other solutions in their category.


51. Amazon Elastic MapReduce (Amazon EMR)

  • Best for: Small, medium and large size businesses
  • Price:
  • May 23, 2022
Compare Amazon Elastic MapReduce (Amazon EMR) Vs. SuiteAnalytics

Amazon Elastic MapReduce (EMR) is a product data management solution for businesses of all sizes. It features open source framework and also offers various financial and CRM capabilities. The software is a product of Amazon Inc headquartered in California, United States.


52. SQL Power Data Quality

  • Best for: Start up, Small business, Medium business, Large business
  • Price:
  • Jun 01, 2022
Compare SQL Power Data Quality Vs. SuiteAnalytics

SQL Power DQguru is a data cleansing and MDM solution for businesses of all sizes. Its capabilities include duplicate verification, user-defined data matching criteria, and others. The software was designed and launched by SQL Power Group Inc headquartered in Ontario, Canada.


53. ViGIE 2.6

  • Best for: Large business
  • Price:
  • Oct 07, 2019
Compare ViGIE 2.6 Vs. SuiteAnalytics

ViGIE 2.6 is a growing cloud-based BI software, it is designed to support large size business. ViGIE 2.6 received a rating of 4.4 from ITQlick team. The software cost is considered average (3/5) when compared to other solutions in their category.


54. Extended Edition WMS

  • Best for: Large business
  • Price:
  • May 27, 2022
Compare Extended Edition WMS Vs. SuiteAnalytics

Extended Edition WMS is an award-winning cloud-based BI software, it is designed to support large size business. Extended Edition WMS received a rating of 4.6 from ITQlick team. The software cost is considered average (2.6/5) when compared to other solutions in their category.



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.