Top 58 Financial Module Software

TOP 58 Financial Module Software

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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. ComputerEase

  • Best for: SMBs
  • Price: Has a free version
  • Mar 09, 2022
Compare ComputerEase Vs. SAP ERP

Construction firms and contractors need a construction software solution that takes on challenges specific to their industry. Every contractor knows that the construction industry presents numerous unique accounting problems. In our Industry Solution section, you can learn how ComputerEase addresses...


3. Foundation

  • Best for: SMBs
  • Price:
  • Mar 11, 2022
Compare Foundation Vs. SAP ERP

FOUNDATION software is construction accounting that incorporates job costing, scheduling, and project management tools and that is deployed through on-premise or through the cloud. This platform provides numerous automatic job costing formats & reports, as well as the capability to build custom repo...


4. EnterpriseIQ

  • Best for: Start up, Small business, Medium business, Large business
  • Price:
  • Mar 12, 2022
Compare EnterpriseIQ Vs. SAP ERP

Enterprise IQ/IQMS MES is cloud-based integrated Enterprise Resource Planning and manufacturing execution solution designed for manufacturing environment in small, medium size and large businesses across multiple industry verticals.


5. Visual EstiTrack ERP

  • Best for: SMBs
  • Price: starts at $3,000 per feature
  • Mar 19, 2022
Compare Visual EstiTrack ERP Vs. SAP ERP

Visual EstiTrack is a manufacturing management solution for businesses of all sizes. It offers such services as customer management, job estimating, order management, and others. The software was designed and launched by Hanning Software Inc headquartered in Ohio, United States.


6. Blue Link Elite

  • Best for: Start up, Small business, Medium business
  • Price: starts at $500 per license
  • Mar 22, 2022
Compare Blue Link Elite Vs. SAP ERP

Blue Link ERP is an inventory and distribution management software for small companies. It offers business solutions including but not limited to real-time inventory and accounting, order entry, B2B and B2C eCommerce, POS, EDI integration, CRM, and more.


7. Infor VISUAL

  • Best for: SMBs
  • Price: starts at $12,000 per license
  • Apr 15, 2022
Compare Infor VISUAL Vs. SAP ERP

Infor VISUAL is an Enterprise Resource (ERP) software solution. This ERP software helps companies improve several processes and several aspects of manufacturing such as growing customer pressures, coping with rising globalization, extending the supply chain, growing customer pressures, and increasin...


8. Sage Intacct

  • Best for: Small, medium and large size businesses
  • Price: starts at $15,000 per year
  • Apr 12, 2022
Compare Sage Intacct Vs. SAP ERP

Intacct Financial management software (now Sage intact) is an integrated, cloud-based financial and accounting management solution for small, mid-market, and big enterprise businesses.


9. Sage 100 Contractor

  • Best for: Small businesses and start ups
  • Price: starts at $115 per user/month
  • Jun 11, 2022
Compare Sage 100 Contractor Vs. SAP ERP

Sage 100 Contractor (formerly Sage Master Builder) provides small to mid-sized contractors with the easiest access to critical, end-to-end business and project information. You will be able to make better decisions and manage operations more effectively than when using off-the-shelf accounting softw...


10. E2 Shop System

  • Best for: SMBs
  • Price: starts at $4,995 per license
  • Jun 14, 2022
Compare E2 Shop System Vs. SAP ERP

Shoptech, the company behind this manufacturing software, was founded back in 1984. The founders are Greg Ehemann and Rich Ehemann, the two Es in the E2 Shop System. The company is providing ERP packages to thousands of customers across North America.


11. Jonas Construction Software

  • Best for: Small, medium and large size businesses
  • Price: starts at $189 per user/month
  • Apr 02, 2022
Compare Jonas Construction Software Vs. SAP ERP

Jonas Construction Software (JCS) offers a business management solution for construction contractors. The product includes project & service management, accounting, document management, inventory as well as payroll. JCS has been providing solutions for the construction sector for over twenty year...


12. Sage 300 Construction and Real Estate

  • Best for: Small, medium and large size businesses
  • Price: starts at $14,000 per license
  • Apr 01, 2022
Compare Sage 300 Construction and Real Estate Vs. SAP ERP

Sage 300 Construction and Real Estate is an end-to-end construction and property management solution. It offers a number of features that include a document management feature that provides greater control of users’ documents and a clean audit trail.


13. ICIM ERP

  • Best for: Small businesses and start ups
  • Price:
  • Jul 02, 2022
Compare ICIM ERP Vs. SAP ERP

Metasystems ERP is a cloud-based ERP which is suitable for use in small-sized and medium-sized manufacturers. Metasystems ERP helps manufacturers to automate their repetitive jobs easily and also provide more functionalities such as managing orders, engineering functions such as ordering engineers, ...


14. COINS ERP Software

  • Best for: Small, medium and large size businesses
  • Price:
  • Apr 16, 2022
Compare COINS ERP Software Vs. SAP ERP

COINS ERP Software is a cloud-based enterprise resource planning solution that is designed to help construction companies in managing their resources such as inventory, finances, and sales among others. Most of the construction companies can perform all their activities in the solution without havin...


15. Infor SCM

  • Best for: Start up, Small business, Medium business, Large business
  • Price:
  • Apr 16, 2022
Compare Infor SCM Vs. SAP ERP

Infor SCM is both cloud-based as well as an on-premise supply chain management solution that is developed majorly for logistics service providers. The on-premise deployment can be done on either the windows platform or the Mac OS platform depending on the customers choice.


16. JustFoodERP Software

  • Best for: Small, medium and large size businesses
  • Price: starts at $3,000 per user/month
  • Apr 27, 2022
Compare JustFoodERP Software Vs. SAP ERP

JustFoodERP is a cloud-based enterprise resource planning solution designed for the food industry including the food distributors and manufacturers. The core features include order management, food quality, and compliance, manufacturing/production and warehouse/inventory management and more.


17. Paragon ERP

  • Best for: Small, medium and large size businesses
  • Price: starts at $150 per month
  • May 15, 2022
Compare Paragon ERP Vs. SAP ERP

Paragon ERP software is a cloud-hosted enterprise resource planning suite fit for small businesses in every industry. Users of Paragon ERP get access to tools that help them help to manage their business operations from customer service, product management, sales, logistics, and human resources.


18. PENTA Construction ERP

  • Best for: Start up, Small business, Medium business, Large business
  • Price:
  • May 18, 2022
Compare PENTA Construction ERP Vs. SAP ERP

PENTA helps you manage operations with less effort, consistently execute best practices, and improve productivity by continually analyzing your performance. In the office and in the field, North American construction firms trust PENTA software every day. Construction document management software PEN...


19. Epicor Distribution

  • Best for: Small, medium and large size businesses
  • Price: starts at $175 per user/month
  • May 18, 2022
Compare Epicor Distribution Vs. SAP ERP

Epicor Distribution is cloud-based and on-premise distribution solution that caters for businesses of all sizes including small-sized businesses, medium-sized businesses, and large enterprises in the aerospace, automotive, construction, engineering, energy, electronics, medical devices, consumer goo...


20. VENTUS

  • Best for: SMBs
  • Price: starts at $5,000 per license
  • May 18, 2022
Compare VENTUS Vs. SAP ERP

VENTUS is an integrated business management software for construction and service markets. It was launched by Vertical Market Software in 1984. The software provides project management, estimating and accounting services for your business. It finds its application mainly in residential remodeling an...


21. Deltek ERP

  • Best for: Start up, Small business, Medium business, Large business
  • Price: starts at $30 per user/month
  • May 25, 2022
Compare Deltek ERP Vs. SAP ERP

Deltek ERP is a range of ERP solutions for companies of all size and industry. It is trusted by 16,000 and more companies worldwide. Their main objective is for companies to improve performance through business management and enhance operations. The flagship product is Deltek Costpoint, which is des...


22. Ajera Complete

  • Best for: Small businesses and start ups
  • Price: starts at $45 per person/month
  • Jun 16, 2022
Compare Ajera Complete Vs. SAP ERP

Ajera Complete is a project management and accounting software for small to large businesses. It provides solutions including but not limited to an integrated CRM system, business development, pipeline management, marketing and sales, automated proposal creation, and integrated market intelligence.


23. Epicor Tropos

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 18, 2022
Compare Epicor Tropos Vs. SAP ERP

Epicor Tropos Overview Epicor Tropos is a process manufacturing solution with materials traceability, unparalleled instruction based production and regulatory compliance features. The solution can help users to make improved decisions, strengthen both external and internal connections and deliver o...


24. entree ERP

  • Best for: Small, medium and large size businesses
  • Price: starts at $4,995 per license
  • Jun 23, 2022
Compare entree ERP Vs. SAP ERP

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25. IFS Field Service Management

  • Best for: Medium and large size businesses
  • Price: starts at $65 per month
  • Jun 24, 2022
Compare IFS Field Service Management Vs. SAP ERP

IFS Field Service Management software is a service management solution that streamlines and automates processes. The solution offers a number of features that include a mobile application that enables field workers to access data through their devices.


26. ECi M1

  • Best for: Small, medium and large size businesses
  • Price: starts at $5,000 per month
  • Jun 24, 2022
Compare ECi M1 Vs. SAP ERP

ECi M1 is an enterprise resource planning (ERP) software product designed for growing manufacturing businesses. Its main features include modules for product and supply chain management, financial management, sales management and shop floor data collection, customer relationship management and ecomm...


27. FundBalance Solution

  • Best for: Small, medium and large size businesses
  • Price: starts at $25 per license
  • Jul 07, 2022
Compare FundBalance Solution Vs. SAP ERP

Fundbalance is an accounting and finance software designed for businesses to tackle complex recording challenges, manage employee and citizen activities, manage property tax life cycle, and provides advanced cyber maturity.


28. Deltek Maconomy

  • Best for: Small, medium and large size businesses
  • Price: starts at $30 per user/month
  • Jul 04, 2022
Compare Deltek Maconomy Vs. SAP ERP

Deltek Maconomy is an Enterprise Resource Planning (ERP) software solution that is a fully integrated and complete with an accounting system that was designed for professional service companies of any size. It was developed to connect processes and people in professional services organizations. T...


29. Sage Evolution

  • Best for: Medium and large size businesses
  • Price:
  • Jul 05, 2022
Compare Sage Evolution Vs. SAP ERP

Sage Evolution is an enterprise resource planning solution for small and medium businesses. It deals with such aspects as accounting, business intelligence, supply chain, procurement, and others. The software was designed and launched by Sage Pastel Communication headquartered in South Af...


30. Spectrum Construction Software

  • Best for: Medium and large size businesses
  • Price:
  • Jul 26, 2022
Compare Spectrum Construction Software Vs. SAP ERP

Spectrum® Construction Software is a system designed with several integrated modules to help the a business keep track of both accounting and project management for professionals involved in construction, mechanical and HVAC, utilities, material management and even specialty contracting. Some of the...


31. Maxwell Systems ProContractorMX

  • Best for: Small, medium and large size businesses
  • Price: starts at $249 per user/month
  • Aug 03, 2022
Compare Maxwell Systems ProContractorMX Vs. SAP ERP

Maxwell Systems ProContractorMX is an all-in-one software system designed to handle the varying needs of construction businesses. The software was launched by Viewpoint Construction Software headquartered in Oregon, United States. The software offers comprehensive applications for accounting and pro...


32. Exact JobBOSS

  • Best for: Start up, Small business, Medium business
  • Price: starts at $95 per month
  • Feb 23, 2022
Compare Exact JobBOSS Vs. SAP ERP

Exact JobBOSS is a job shop management software that can help users to automate processes and provide a foundation to manage growth which is important for any business. The software can help users to quote realistically, schedule and track orders, enter orders efficiently and more. Users can get com...


33. DEACOM ERP Software

  • Best for: Small, medium and large size businesses
  • Price: starts at $4,000 per license
  • Mar 19, 2022
Compare DEACOM ERP Software Vs. SAP ERP

DEACOM ERP Software is an ERP (Enterprise Resource Planning) system for process manufacturing industries. It includes numerous accounting, production, sales, maintenance, POS, purchasing, WMS, formula management, labor tracking, regulatory reporting, CM, BI, inventory and direct store delivery. It r...


34. Deltek Vision ERP

  • Best for: Small, medium and large size businesses
  • Price:
  • Apr 11, 2022
Compare Deltek Vision ERP Vs. SAP ERP

Deltek Vision ERP is both an on-premise and cloud-based enterprise resource planning software that is designed to assist with project management. Deltek Vision ERP is a software that combines resource planning, project management, business development, project accounting, and expense management int...


35. InFocus

  • Best for: Medium and large size businesses
  • Price: starts at $199 per month
  • May 17, 2022
Compare InFocus Vs. SAP ERP

InFocus is an enterprise resource planning solution for architect and engineering firms that can simplify complex workflows and make scheduling, project reviewing and budgeting a breeze. Users can choose affordable cloud hosting or install this solution on their servers. Clearview Softwar...


36. ADS Solutions Distribution

  • Best for: Small businesses and start ups
  • Price: starts at $2,500 per license
  • Feb 07, 2022
Compare ADS Solutions Distribution Vs. SAP ERP

ADS Solutions Distribution is a software solution that supports wholesale distributors. The software provides a fully integrated business solution that includes finance, inventory control, purchasing, invoicing, CRM and sales together with an e-commerce platform. ADS Solutions was founded in 1984...


37. ProfitKey ERP Software

  • Best for: SMBs
  • Price:
  • May 20, 2022
Compare ProfitKey ERP Software Vs. SAP ERP

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


38. LivePlan

  • Best for: SMBs
  • Price: starts at $15 per month
  • Apr 21, 2022
Compare LivePlan Vs. SAP ERP

LivePlan is business planning tool offered as an online service to help entrepreneurs and starting companies in the process of developing strategies that will help them achieve their goals. LivePlan was designed to simplify the business planning process through a step-by-step guide that will lead th...


39. Xledger

  • Best for: Small, medium and large size businesses
  • Price:
  • Feb 07, 2022
Compare Xledger Vs. SAP ERP

Xledger is a web based enterprise resource planning solution for businesses of all sizes. Its capabilities include billing and accounting management, payroll management, reporting, integration, and others. The software was designed and launched by Xledger headquartered in Colorado, Unite...


40. MAX Manufacturing

  • Best for: SMBs
  • Price: starts at $115 per user/month
  • Mar 19, 2022
Compare MAX Manufacturing Vs. SAP ERP

MAX Manufacturing is an award-winning cloud-based Manufacturing software, it is designed to support small and medium size business. MAX Manufacturing received a rating of 2.5 from ITQlick team. The software cost is considered affordable (1/5) when compared to alternative solutions.


41. Adjutant

  • Best for: Small businesses and start ups
  • Price:
  • Feb 16, 2022
Compare Adjutant Vs. SAP ERP

Adjutant is a fast growing cloud-based Construction software, it is designed to support small and medium size construction business. Adjutant received a rating of 4.8 from ITQlick team. The software cost is considered average (3/5) when compared to other solutions in their category.


42. Evolution Property Management Software

  • Best for: Start up, Small business, Medium business, Large business
  • Price:
  • Feb 20, 2022
Compare Evolution Property Management Software Vs. SAP ERP

Evolution is a web based property management solution for businesses of all sizes. Other than management, it also offers accounting and marketing services. The software was designed and launched by Infor Global Solutions headquartered in Florida, United States.


43. Viewpoint For Project Collaboration

  • Best for: Small, medium and large size businesses
  • Price: starts at $10,000 per license
  • Feb 14, 2022
Compare Viewpoint For Project Collaboration Vs. SAP ERP

Viewpoint For Project Collaboration is a project management and construction software for small and medium companies. Its key features include building information modeling, estimating, business intelligence and reporting, and construction accounting, document control, equipment management, and fina...


44. Infor10 Supply Chain Execution

  • Best for: Medium and large size businesses
  • Price:
  • Feb 22, 2022
Compare Infor10 Supply Chain Execution Vs. SAP ERP

Infor10 Supply Chain Execution is a supply chain management solution for your business. It was designed by Infor, founded in 2002 and headquartered in New York, United States. The software supplies a suite of integrated applications for planning and management of business processes.


45. Atlas ERP

  • Best for: Start up, Small business, Medium business
  • Price: starts at $8 per user/month
  • Mar 15, 2022
Compare Atlas ERP Vs. SAP ERP

Atlas ERP is a trending cloud-based Project Management software, it is designed to support small and medium size business. Atlas ERP received a rating of 4.9 from ITQlick team. The software cost is considered affordable (2.5/5) when compared to alternative solutions.


46. Epicor ERP

  • Best for: Small, medium and large size businesses
  • Price: starts at $175 per user/month
  • Feb 22, 2022
Compare Epicor ERP Vs. SAP ERP

Epicor ERP is a cloud-based as well as an enterprise resource planning solution that has been developed to be used either by individuals or by businesses in various industries such as manufacturing, construction, and advertising among others.


47. IFS Applications

  • Best for: Medium and large size businesses
  • Price:
  • Feb 28, 2022
Compare IFS Applications Vs. SAP ERP

IFS Applications is an enterprise resource planning solution for businesses of all sizes. Its functionalities include business intelligence, HR management, accounting, manufacturing, and others. The software was designed and launched by IFS Corporation headquartered in Sweden.


48. Produce Pro

  • Best for: Small, medium and large size businesses
  • Price:
  • Feb 26, 2022
Compare Produce Pro Vs. SAP ERP

Produce Pro is a software system designed to track details of perishable products throughout their lifetime. The software is broad based, offering several solutions to the perishable industry. Some of these solutions include sales order entries, inventory management, pricing, accounting and reportin...


49. Jonas

  • Best for: Small, medium and large size businesses
  • Price: starts at $8,000 per license
  • Mar 03, 2022
Compare Jonas Vs. SAP ERP

Jonas Enterprise is a business management accounting software for construction companies that can help users to manage their business efficiently. The software offers two solutions: Service Management and Project Management Toolkits depending on users business needs. The business management accounti...


50. abas ERP

  • Best for: SMBs
  • Price: starts at $149 per month
  • Mar 23, 2022
Compare abas ERP Vs. SAP ERP

Abas ERP is an ERP business software suite that addresses mid-range companies. The software addresses sales, costing, procurement & production, supply chain management, service processing and financials along with manufacturing and distribution. Abas Software is based in Germany and was founded i...


51. Slate

  • Best for: Start up, Small business, Medium business, Large business
  • Price:
  • Apr 19, 2022
Compare Slate Vs. SAP ERP

Designed and developed exclusively for higher education, Slate is the only solution that can handle the breadth and depth of modern admissions and advancement. Encompassing CRM, outreach, travel management, online applications, and online reading, Slate is trusted by more than 1,000 colleges and un...


52. Agresso ERP

  • Best for: Start up, Small business, Medium business, Large business
  • Price:
  • Apr 26, 2022
Compare Agresso ERP Vs. SAP ERP

Agresso ERP is an enterprise resource planning solution designed to help users with both strategic and operational management needs. It can help users to replace their existing internal and third-party business systems with a completely integrated solution. This software is good for users who are lo...


53. Rapid Response Manufacturing (RRM)

  • Best for: Small businesses and start ups
  • Price:
  • Apr 26, 2022
Compare Rapid Response Manufacturing (RRM) Vs. SAP ERP

Rapid Response Manufacturing is an enterprise resource planning solution for small and medium businesses. It offers helps in such areas as accounting and billing, manufacturing, documentation, quality assurance, and others. The software was designed and launched by ProfitKey Internationa...


54. Infor Manufacturing

  • Best for: Start up, Small business, Medium business, Large business
  • Price:
  • May 16, 2022
Compare Infor Manufacturing Vs. SAP ERP

Infor Manufacturing is an enterprise resource planning software solution for small and medium businesses. Its capabilities include inventory management, purchase orders management, manufacturing management, and others. The software was designed and launched by Infor headquartered in Georgia, United...


55. Sage Intacct Software

  • Best for: Small, medium and large size businesses
  • Price: starts at $15,000 per year
  • May 19, 2022
Compare Sage Intacct Software Vs. SAP ERP

Sage Intacct Software is a growing cloud-based ERP software, it is designed to support small, medium and large size business. Sage Intacct Software received a rating of 4 from ITQlick team. The software cost is considered affordable (2/5) when compared to alternative solutions.


56. Role-Based ERP

  • Best for: Start up, Small business, Medium business, Large business
  • Price: starts at $40 per user/month
  • May 18, 2022
Compare Role-Based ERP Vs. SAP ERP

Role-based ERP is an enterprise resource planning and management solution for your business. The software was designed by WorkWise LLC, headquartered in Wisconsin, United States. Like major ERP solutions, it follows the modular architecture and also offers inventory and CRM solutions. 


57. Ramco ERP

  • Best for: Small, medium and large size businesses
  • Price:
  • Sep 01, 2019
Compare Ramco ERP Vs. SAP ERP

Ramco ERP is a cloud-based software tool for enterprise resource planning designed for manufacturing businesses of all sizes. Its modules include manufacturing, supply chain management (SCM), financial management, human capital management (HCM), customer relationship management (CRM), enterprise ass...


58. Account Reconciliations

  • Best for: Small, medium and large size businesses
  • Price: starts at $250 per license
  • Aug 01, 2019
Compare Account Reconciliations Vs. SAP ERP

Account Reconciliations is an award-winning cloud-based Accounting-Finance software, it is designed to support small, medium and large size business. Account Reconciliations received a rating of 3.1 from ITQlick team. The software cost is considered average (3.3/5) when compared to other solutions ...



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. 

Finding the right business software for your business
Proper business software selections are the precursor to successful deployment and business growth. Finding the right solutions doesnít have to be complicated, and it doesnít have to take days or weeks of your time.

After researching over 5,000 systems, we can identify the best solution for companies of all shapes and sizes. ITQlick.com is 100% free for software buyers.



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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.