Top 67 Governance, Risk and Compliance (GRC) Software

TOP 67 Governance, Risk and Compliance (GRC) Software

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1. ARIS

  • Best for: Small, medium and large size businesses
  • Price: starts at $100 per user/month
  • Mar 20, 2022
Compare ARIS Vs. ARIS

Perfect your processes with the ARIS Platform, the world's first business process analysis platform. Use ARIS to continuously transform and improve your processes.


2. ControlScan

  • Best for: Small, medium and large size businesses
  • Price: starts at $249 per license
  • Mar 05, 2022
Compare ControlScan Vs. ARIS

ControlScan is a trending cloud-based Web hosting software, it is designed to support small, medium and large size business. ControlScan received a rating of 3.7 from ITQlick team. The software cost is considered affordable (2.4/5) when compared to alternative solutions.


3. Audit Management Software (Medgate)

  • Best for: SMBs
  • Price: starts at $10,000 per year
  • Mar 06, 2022
Compare Audit Management Software (Medgate) Vs. ARIS

Audit Management Software (Medgate) is web-based EHS software enhancing the occupational health and safety and the environmental sustainability facet of a business.


4. DocRead for SharePoint

  • Best for: Small, medium and large size businesses
  • Price:
  • Mar 24, 2022
Compare DocRead for SharePoint Vs. ARIS

DocRead for SharePoint is a cloud-based as well as on-premise policy management and compliance solution that has been developed to be used by businesses in all types of industries including manufacturing, construction, and insurance among others.


5. ERA Kairos

  • Best for: Start up, Small business, Medium business, Large business
  • Price: starts at $19 per month
  • Apr 26, 2022
Compare ERA Kairos Vs. ARIS

ERA Kairos is a growing cloud-based Governance, Risk and Compliance (GRC) software, it is designed to support small, medium and large size business. ERA Kairos received a rating of 3.4 from ITQlick team. The software cost is considered affordable (2.4/5) when compared to alternative solutions.


6. LogicGate

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 08, 2022
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Logicgate is an app that manages complex business operations where communications can be streamlined. Users can also deploy and build apps without the help of developers. It simplifies business workflow with its drag and drop feature while defining all the rules of all the included in running a busi...


7. Integrum

  • Best for: Medium and large size businesses
  • Price:
  • Jun 22, 2022
Compare Integrum Vs. ARIS

The Integrum is governance, risk and compliance/GRC software that helps users with the use of management systems for Quality, Health, Safety, Environment (QHSE) Risk and Compliance.


8. ManageEngine ADAudit Plus

  • Best for: Small, medium and large size businesses
  • Price: starts at $595 per year
  • Jun 24, 2022
Compare ManageEngine ADAudit Plus Vs. ARIS

ManageEngine ADAudit Plus is a real time Active Directory auditing solution for businesses of all sizes. It also offers file server auditing, Windows server auditing, compliance audit reports, and other services. The software was designed and launched by ManageEngine headquartered in Cal...


9. ZenGRC

  • Best for: Small, medium and large size businesses
  • Price: starts at $2,500 per user/month
  • Jul 01, 2022
Compare ZenGRC Vs. ARIS

ZenGRC, by Reciprocity, is a compliance management software that is scalable and can help users with their compliance and do monitoring of the assessment activities.


10. WebDPW

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

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...


11. Certent DisclosureNet

  • Best for: Small, medium and large size businesses
  • Price:
  • Apr 26, 2022
Compare Certent DisclosureNet Vs. ARIS

Certent DisclosureNet is an all in one application that combines both the creation of external and internal reports with its own specifically designed search engine. Everything is rolled into one disclosure management solution. The app increases compliance, control and accuracy regarding financial r...


12. EHS Insight

  • Best for: Medium and large size businesses
  • Price: starts at $3 per user/month
  • Jan 27, 2022
Compare EHS Insight Vs. ARIS

EHS Insight is a cloud based environmental health and safety EHS and quality management solution. It helps clients track environmental effects, manages security and risks and ensures compliance with requirements.


13. Integrum QHSE Risk and Compliance

  • Best for: SMBs
  • Price:
  • Apr 28, 2022
Compare Integrum QHSE Risk and Compliance Vs. ARIS

integrum is the leading provider of management systems software for Safety, Health, Environment, Quality, Governance, Risk and Compliance, used globally by Fortune 500 companies and SMEs alike. All the functions listed below are available in the one application, not in modules. integrum is recognise...


14. ERA EH&S

  • Best for: Small, medium and large size businesses
  • Price:
  • Feb 16, 2022
Compare ERA EH&S Vs. ARIS

ERA EH&S is a suite supporting environment, health and safety management. It is primarily designed for general manufacturing and the oil and gas industries.


15. Workaware

  • Best for: Small businesses and start ups
  • Price:
  • Mar 03, 2022
Compare Workaware Vs. ARIS

Workaware is a digital safety management tool with a unified, easy to use experience. Whether your staff are working remotely in the field or behind a desk their safety management software remains in sync with our cross platform software and secure cloud.


16. Symantec Data Loss Prevention

  • Best for: Small, medium and large size businesses
  • Price: starts at $4.86 per month
  • Jan 10, 2022
Compare Symantec Data Loss Prevention Vs. ARIS

Symantec Data Loss Prevention is a data protection and management software solution for personal and professional use. The software was designed and launched by Symantec Corporation located in California, United States. It provides innovative storage and management facilities for confidential data.


17. Intellect Compliance

  • Best for: Small, medium and large size businesses
  • Price: starts at $50 per user/month
  • May 03, 2022
Compare Intellect Compliance Vs. ARIS

The Intellect Compliance is governance, risk and compliance/GRC software that helps users in enforcing business processes, procedures and policies.


18. Cura GRC

  • Best for: Small, medium and large size businesses
  • Price:
  • Feb 05, 2022
Compare Cura GRC Vs. ARIS

In today's fast-paced global economy, with emerging threats coupled with ever more regulations, organizations are finding that better management of Governance, Risk & Compliance (GRC) information is leading to better-run businesses. Because there is substantial overlap across multiple areas o...


19. BSI Compliance Manager

  • Best for: Small, medium and large size businesses
  • Price:
  • Feb 21, 2022
Compare BSI Compliance Manager Vs. ARIS

The BSI Compliance Manager is a cloud based software that provides the users with support for managing, monitoring and reporting their audit activities.


20. Onspring

  • Best for: Small, medium and large size businesses
  • Price: starts at $174 per user/month
  • Mar 30, 2022
Compare Onspring Vs. ARIS

Onspring is a business process automation software which can be used by a wide range of companies in any line of business and in any size. It is primarily a platform for users to manage workflow, data and report generation. It can be used for a small business or across an enterprise. Built around th...


21. ERA Compliance

  • Best for: Small, medium and large size businesses
  • Price: starts at $125 per year
  • Mar 30, 2022
Compare ERA Compliance Vs. ARIS

The ERA Compliance is a cloud-based compliance management solution helping the users in managing health, safety and environmental compliance.


22. MasterControl Risk Analysis

  • Best for: Small, medium and large size businesses
  • Price: starts at $25,000 per year
  • Apr 11, 2022
Compare MasterControl Risk Analysis Vs. ARIS

MasterControl Risk Analysis is a cloud based solution that helps businesses automate the risk analysis process. The solution identifies and evaluates risk scenarios such as non conformance, Corrective Action Preventive Action or deviations.


23. SAI Global

  • Best for: Small, medium and large size businesses
  • Price:
  • May 12, 2022
Compare SAI Global Vs. ARIS

SAI Global helps organizations proactively manage risk to create trust and achieve business confidence, growth, and sustainability.


24. Corporater Compliance

  • Best for: Small, medium and large size businesses
  • Price:
  • May 13, 2022
Compare Corporater Compliance Vs. ARIS

Corporater Compliance is a cloud-based solution that provides oversight and visibility into compliance activities. It provides controls, compliance reporting, auditing, workflow and process support and notifications of exceptions and deviations. Compliance can be configured as a standalone solutio...


25. MyVCM

  • Best for: Small, medium and large size businesses
  • Price: starts at $2,994 per year
  • May 14, 2022
Compare MyVCM Vs. ARIS

MyVCM allows our customers to demonstrate real-time security and compliance through reports and dashboards and provides a single place to manage policies, training, assets, and disaster recovery plans.


26. CRAMS

  • Best for: SMBs
  • Price: starts at $2 per user/month
  • Mar 20, 2021
Compare CRAMS Vs. ARIS

CRAMS is cloud-based software that helps organisations manage their health and safety compliance in the workplace. It comes with plenty of innovative features to save companies time, including easy risk assessment and method statement creation tools.


27. RiskWatch

  • Best for: Small, medium and large size businesses
  • Price: starts at $99 per month
  • May 16, 2022
Compare RiskWatch Vs. ARIS

RiskWatch strives to be a company that makes the world a better place by making it more secure. We are committed to exceptional customer service and to providing state of the art risk assessment and compliance solutions that are easy to use, affordable and offer exceptional value to our clients.


28. Predict360 Enterprise Risk Management

  • Best for: Small, medium and large size businesses
  • Price:
  • May 16, 2022
Compare Predict360 Enterprise Risk Management Vs. ARIS

Predict360 is a cloud based enterprise risk management platform that helps analyze, control, monitor and manage operations using artificial intelligence. Designed for businesses in oil and gas, financial, life sciences and utility sectors, the centralized system enables users to enhance business per...


29. Validis

  • Best for: Small, medium and large size businesses
  • Price:
  • May 17, 2022
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Validis provides a data pipe for commercial lenders and accountants to their clients accounting application. The technology collects financial data from a business accounting application and transforms that data into a standardized format, empowering commercial lenders and accountants with fast and ...


30. Enablon RSC

  • Best for: Medium and large size businesses
  • Price:
  • May 18, 2022
Compare Enablon RSC Vs. ARIS

Enablon RSC is a supply chain management solution for businesses of all sizes. It offers such services as performance management, compliance, document management, and others. The software was designed and launched by Enablon headquartered in Illinois, United States.


31. OpenPages

  • Best for: Small, medium and large size businesses
  • Price: starts at $272 per user/year
  • May 19, 2022
Compare OpenPages Vs. ARIS

IBM OpenPages is a risk and compliance management solution for businesses of all sizes. It helps in the management of risk and compliance initiatives across the enterprise, among other capabilities. The software was designed and launched by OpenPages and is now a product of IBM Corporation headquart...


32. WorkSafeOnline

  • Best for: Small, medium and large size businesses
  • Price: starts at $19 per user/month
  • Aug 26, 2019
Compare WorkSafeOnline Vs. ARIS

WorkSafeOnline is a trending cloud-based EHS Management software, it is designed to support small, medium and large size business. WorkSafeOnline received a rating of 3.6 from ITQlick team. The software cost is considered average (3.2/5) when compared to other solutions in their category.


33. INX InViron

  • Best for: Small, medium and large size businesses
  • Price:
  • Nov 11, 2019
Compare INX InViron Vs. ARIS

INX InViron is a growing cloud-based Governance, Risk and Compliance (GRC) software, it is designed to support small, medium and large size business. INX InViron received a rating of 4.1 from ITQlick team. The software cost is considered affordable (1.7/5) when compared to alternative solutions.


34. INX InViron Mobile

  • Best for: Medium and large size businesses
  • Price:
  • Aug 30, 2019
Compare INX InViron Mobile Vs. ARIS

INX InViron Mobile is a trending cloud-based Governance, Risk and Compliance (GRC) software, it is designed to support medium and large size business. INX InViron Mobile received a rating of 4.1 from ITQlick team. The software cost is considered affordable (1.6/5) when compared to alternative solut...


35. Audit & Compliance System

  • Best for: Medium and large size businesses
  • Price:
  • Apr 08, 2021
Compare Audit & Compliance System Vs. ARIS

Enablon Audit & Compliance System is an audit and compliance management solution for businesses of all sizes. It also offers performance monitoring, integration, risk management, and others. The software was designed and launched by Enablon headquartered in Illinois, United States.


36. CipherCloud

  • Best for: Medium and large size businesses
  • Price:
  • Apr 15, 2021
Compare CipherCloud Vs. ARIS

CipherCloud is a trending cloud-based Security software, it is designed to support medium and large size business. CipherCloud received a rating of 3.3 from ITQlick team. The software cost is considered average (2.7/5) when compared to other solutions in their category.


37. INX InHealth

  • Best for: Medium and large size businesses
  • Price:
  • Sep 16, 2019
Compare INX InHealth Vs. ARIS

INX InHealth is a fast growing cloud-based Governance, Risk and Compliance (GRC) software, it is designed to support medium and large size business. INX InHealth received a rating of 4.1 from ITQlick team. The software cost is considered affordable (2.3/5) when compared to alternative solutions.


38. HyTrust

  • Best for: Medium and large size businesses
  • Price: starts at $5,000 per year
  • Apr 15, 2021
Compare HyTrust Vs. ARIS

HyTrust is a growing cloud-based Security software, it is designed to support medium and large size business. HyTrust received a rating of 3.5 from ITQlick team. The software cost is considered affordable (2.5/5) when compared to alternative solutions.


39. Identity Audit and Compliance Manager

  • Best for: Start up, Small business, Medium business, Large business
  • Price:
  • May 27, 2022
Compare Identity Audit and Compliance Manager Vs. ARIS

Identity Audit and Compliance Manager is a growing cloud-based Governance, Risk and Compliance (GRC) software, it is designed to support small, medium and large size business. Identity Audit and Compliance Manager received a rating of 4.9 from ITQlick team. The software cost is considered affordable...


40. Promisec

  • Best for: Medium and large size businesses
  • Price:
  • Apr 16, 2021
Compare Promisec Vs. ARIS

Promisec is a growing cloud-based Security software, it is designed to support medium and large size business. Promisec received a rating of 4.7 from ITQlick team. The software cost is considered average (2.6/5) when compared to other solutions in their category.


41. IDOS

  • Best for: SMBs
  • Price: starts at $25 per user/month
  • Apr 15, 2021
Compare IDOS Vs. ARIS

IDOS is an award-winning cloud-based Accounting-Finance software, it is designed to support small and medium size business. IDOS received a rating of 3.4 from ITQlick team. The software cost is considered average (3.1/5) when compared to other solutions in their category.


42. M2M

  • Best for: Small, medium and large size businesses
  • Price: starts at $99 per license
  • May 31, 2022
Compare M2M Vs. ARIS

M2M is a growing cloud-based Governance, Risk and Compliance (GRC) software, it is designed to support small, medium and large size business. M2M received a rating of 3.3 from ITQlick team. The software cost is considered average (3.2/5) when compared to other solutions in their category.


43. Rational Policy Tester

  • Best for: Small, medium and large size businesses
  • Price: starts at $13 per license
  • Jun 07, 2022
Compare Rational Policy Tester Vs. ARIS

Rational Policy Tester is an award-winning cloud-based Governance, Risk and Compliance (GRC) software, it is designed to support small, medium and large size business. Rational Policy Tester received a rating of 3.9 from ITQlick team. The software cost is considered affordable (1.6/5) when compared...


44. Collibra

  • Best for: SMBs
  • Price:
  • Nov 14, 2019
Compare Collibra Vs. ARIS

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


45. CS*Comply

  • Best for: Medium and large size businesses
  • Price:
  • Jul 13, 2022
Compare CS*Comply Vs. ARIS

CS*Comply is a growing cloud-based Governance, Risk and Compliance (GRC) software, it is designed to support medium and large size business. CS*Comply received a rating of 3.5 from ITQlick team. The software cost is considered average (3.5/5) when compared to other solutions in their category.


46. ActiveMatrix Policy Manager

  • Best for: Medium and large size businesses
  • Price:
  • May 20, 2022
Compare ActiveMatrix Policy Manager Vs. ARIS

ActiveMatrix® Policy Director is a policy management platform for organizations of all sizes. It helps in the implementation of policy-based rules particularly in service-oriented architecture (SOA) environments. The software was designed and launched by TIBCO Software Inc headquartered ...


47. QUOODA

  • Best for: Small, medium and large size businesses
  • Price:
  • Nov 01, 2019
Compare QUOODA Vs. ARIS

QUOODA is a leading cloud-based EHS Management software, it is designed to support small, medium and large size business. QUOODA received a rating of 4.3 from ITQlick team. The software cost is considered affordable (1.8/5) when compared to alternative solutions.


48. Enablon CSR Suite

  • Best for: Medium and large size businesses
  • Price:
  • May 30, 2022
Compare Enablon CSR Suite Vs. ARIS

Enablon CSR Suite is a package of corporate reporting solutions for businesses of all sizes. Its capabilities include simplified data collection, CSR monitoring, customization, and others. The software was designed and launched by Enablon headquartered in Illinois, United States.


49. Safety In Your Hand

  • Best for: SMBs
  • Price: starts at $125 per user/month
  • Aug 29, 2019
Compare Safety In Your Hand Vs. ARIS

Safety In Your Hand is a growing cloud-based EHS Management software, it is designed to support small and medium size business. Safety In Your Hand received a rating of 3.3 from ITQlick team. The software cost is considered average (3.2/5) when compared to other solutions in their category.


50. Compliance Management

  • Best for: Small, medium and large size businesses
  • Price: starts at $1,650 per year
  • May 30, 2022
Compare Compliance Management Vs. ARIS

Compliance Management is a growing cloud-based Governance, Risk and Compliance (GRC) software, it is designed to support small, medium and large size business. Compliance Management received a rating of 3.3 from ITQlick team. The software cost is considered average (3.1/5) when compared to other so...


51. Mango QHSE

  • Best for: Small, medium and large size businesses
  • Price: starts at $400 per month
  • Mar 13, 2020
Compare Mango QHSE Vs. ARIS

Mango is a cloud based quality, health, safety and environmental QHSE management solution, which assists small to large organizations with audit trail and event scheduling. Key features include asset record keeping, root cause analysis, document management and alerts.


52. RSA Archer Suite

  • Best for: SMBs
  • Price: starts at $55,000 per license
  • Mar 13, 2020
Compare RSA Archer Suite Vs. ARIS

With RSA Archer, organizations can quickly implement risk management processes based on industry standards and best practices leading to improved risk management maturity, more informed decision making and enhanced business performance.


53. WeControl

  • Best for: SMBs
  • Price: starts at $49 per month
  • Dec 19, 2019
Compare WeControl Vs. ARIS

WeControl.io is automated and data driven Privacy Management Platform that provides tools to make your compliance work as a Data Protection Officer more efficient and time saving. As a company executive, you get 360 visibility and control on all related risks.


54. Blueprint

  • Best for: Small, medium and large size businesses
  • Price:
  • Dec 18, 2019
Compare Blueprint Vs. ARIS

Blueprint is a requirements definition and management solution for businesses of all sizes. It manages the requirements of complex IT projects and saves capital expenditure. The software was designed and launched by Blueprint Software Systems headquartered on Ontario, Canada.


55. MetricStream Compliance Management

  • Best for: Medium and large size businesses
  • Price:
  • Dec 18, 2019
Compare MetricStream Compliance Management Vs. ARIS

MetricStream Compliance Management is a growing cloud-based Governance, Risk and Compliance (GRC) software, it is designed to support medium and large size business. MetricStream Compliance Management received a rating of 3.1 from ITQlick team. The software cost is considered affordable (1.7/5) whe...


56. KnowBe4

  • Best for: Small, medium and large size businesses
  • Price: starts at $3,665 per year
  • Oct 05, 2019
Compare KnowBe4 Vs. ARIS

KnowBe4 is a trending cloud-based Governance, Risk and Compliance (GRC) software, it is designed to support small, medium and large size business. KnowBe4 received a rating of 4.8 from ITQlick team. The software cost is considered affordable (2.2/5) when compared to alternative solutions.


57. CARe

  • Best for: SMBs
  • Price:
  • Sep 16, 2019
Compare CARe Vs. ARIS

CARe is a cloud-based veterinary software that is designed for use in veterinary practices of all sizes starting from small-sized practices, medium-sized practices, and large practices. The solution works by bringing closer both the veterinary practitioners and the pet owners and provides them with ...


58. TeamPoint

  • Best for: Start up, Small business, Medium business, Large business, Private use
  • Price:
  • Aug 13, 2019
Compare TeamPoint Vs. ARIS

TeamPoint is a trending cloud-based Governance, Risk and Compliance (GRC) software, it is designed to support small, medium and large size business. TeamPoint received a rating of 3.5 from ITQlick team. The software cost is considered average (3.3/5) when compared to other solutions in their catego...


59. PORTFOLIO

  • Best for: Small, medium and large size businesses
  • Price:
  • Sep 17, 2019
Compare PORTFOLIO Vs. ARIS

PORTFOLIO is a growing cloud-based Construction software, it is designed to support small, medium and large size construction business. PORTFOLIO received a rating of 3.6 from ITQlick team. The software cost is considered affordable (1.7/5) when compared to alternative solutions.


60. FreeBalance Accountability Suite

  • Best for: Start up, Small business, Medium business, Large business
  • Price:
  • Aug 05, 2019
Compare FreeBalance Accountability Suite Vs. ARIS

FreeBalance Accountability Suite is a fast growing cloud-based Accounting-Finance software, it is designed to support small, medium and large size business. FreeBalance Accountability Suite received a rating of 3.4 from ITQlick team. The software cost is considered average (3.1/5) when compared to ...


61. PHAWorks

  • Best for: Small, medium and large size businesses
  • Price: starts at $3,000 per license
  • Sep 12, 2019
Compare PHAWorks Vs. ARIS

PHAWorks is an award-winning cloud-based EHS Management software, it is designed to support small, medium and large size business. PHAWorks received a rating of 4.3 from ITQlick team. The software cost is considered average (2.8/5) when compared to other solutions in their category.


62. Approva Continuous Monitoring

  • Best for: Small, medium and large size businesses
  • Price: starts at $49 per month
  • Mar 17, 2020
Compare Approva Continuous Monitoring Vs. ARIS

Approva Continuous Monitoring is a risk management and monitoring solution for businesses of all sizes. Its capabilities include financial reporting, internal auditing, risk management, and others. The software was designed and launched by Infor headquartered in New York, United States.


63. Verifi

  • Best for: Medium and large size businesses
  • Price:
  • Nov 05, 2019
Compare Verifi Vs. ARIS

Verifi is a business intelligence and payment management solution for businesses of all sizes. It also offers billing management along with dynamic transaction routing and enterprise reporting. The software was designed and launched by Verifi Inc headquartered in California, United State...


64. THINQ Compliance Manager

  • Best for: SMBs
  • Price: starts at $20,000 per license
  • Oct 06, 2019
Compare THINQ Compliance Manager Vs. ARIS

THINQ Compliance Manager is a growing cloud-based EHS Management software, it is designed to support small and medium size business. THINQ Compliance Manager received a rating of 4.9 from ITQlick team. The software cost is considered average (2.6/5) when compared to other solutions in their categor...


65. StandardFusion

  • Best for: Small, medium and large size businesses
  • Price: starts at $500 per user/month
  • Dec 30, 2019
Compare StandardFusion Vs. ARIS

StandardFusion is a Cloud Based SaaS or on premise platform making InfoSec compliance simple, approachable and scalable. Manage compliance to multiple standards; ISO, SOC, NIST, HIPAA, GDPR, PCI-DSS, FedRAMP and more.


66. Control Compliance Suite

  • Best for: Medium and large size businesses
  • Price:
  • Nov 10, 2019
Compare Control Compliance Suite Vs. ARIS

Symantec Control Compliance Suite is a data center security and compliance solution for all business sizes. It delivers risk visibility and automates continuous assessments for crucial business processes. The software was designed and launched by Symantec Corporation headquartered in California, Uni...


67. webOSCAR

  • Best for: Small businesses and start ups
  • Price: starts at $895 per license
  • Aug 11, 2019
Compare webOSCAR Vs. ARIS

webOSCAR is a trending cloud-based EHS Management software, it is designed to support small and medium size business. webOSCAR received a rating of 3.8 from ITQlick team. The software cost is considered average (3.5/5) 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 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.