Top 54 HR Accounting Software

2022's Best 54 HR Accounting Systems

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1. Global Shop Solutions ERP

  • Best for: SMBs
  • Price:
  • Mar 09, 2022
Compare Global Shop Solutions ERP Vs. Global Shop Solutions ERP

Global Shop Solutions One System ERP Solutions is a cloud-based enterprise resource planning (ERP) software solution that helps the small to midsize businesses manage their manufacturing activities as well as operations.


2. Multiview

  • Best for: Small, medium and large size businesses
  • Price: starts at $150 per user/year
  • Mar 11, 2022
Compare Multiview Vs. Global Shop Solutions ERP

Multiview Financial Software is a cloud-based modular financial management system that incorporates accounts payable, accounts receivable, purchase order management, a general ledger, inventory management, business intelligence, order management, document management, and more.


3. Denali Business

  • Best for: Small businesses and start ups
  • Price: starts at $1,999 per license
  • Mar 10, 2022
Compare Denali Business Vs. Global Shop Solutions ERP

Everything you expect from a leading business accounting solution, plus the tools to manage cash flow, monitor profitability, analyze trends, track inventory, and Denali Business by Cougar Mountain Software is a modular accounting solution which provides customers with reliable and accurate financia...


4. SAP Financials On Demand

  • Best for: Small, medium and large size businesses
  • Price:
  • Mar 04, 2022
Compare SAP Financials On Demand Vs. Global Shop Solutions ERP

SAP launched Financials OnDemand in late 2012 as a stand-alone financial management solution designed exclusively for the cloud. It tracks end-to-end financial transactions from order to cash and procurement to payment, provides rich embedded data analytics focused on KPIs, and supports mobile devic...


5. Sage Intacct

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


6. NetSuite Financials

  • Best for: Small, medium and large size businesses
  • Price: starts at $499 per user/month
  • Apr 13, 2022
Compare NetSuite Financials Vs. Global Shop Solutions ERP

NetSuite Financials is a cloud-based accounting and eCommerce software suite designed to comply with all business sizes. It aims to streamline your accounting department through the use of a web based application and dashboard. NetSuite Company was founded in 1998 and is handled by 1,600 employe...


7. 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. Global Shop Solutions 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...


8. 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. Global Shop Solutions 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.


9. Budget Maestro

  • Best for: Small, medium and large size businesses
  • Price: starts at $10,000 per year
  • Jul 04, 2022
Compare Budget Maestro Vs. Global Shop Solutions ERP

Planning Maestro is a software for mid-market enterprises looking to better manage their businesses and improve on performance. It was developed by the Centage Corporation Company which has been offering its services since 2001.   Who Planning Maestro is best for Planning Maestro was developed to...


10. Coda Financials

  • Best for: Medium and large size businesses
  • Price: starts at $10 per month
  • Apr 25, 2022
Compare Coda Financials Vs. Global Shop Solutions ERP

Unit4 Financials or formerly known as Coda Financials is a cloud-based or on-premise financial and accounting management solution for medium to large companies.


Pricing Guide - HR Accounting Software:

Accounting & Finance Software products Price Range

An SMB size company should expect to pay between $0 and more than $4 for a base subscription of Accounting & Finance software. Additionally, the software vendors may include charges for extra features such as bill management, invoicing, and multiple currency support. The costs are usually on a "per month/per user" basis.

The price breakdown of accounting and finance software based on business size is as follows:

  • Accounting and finance software pricing for small organizations has a price range of $9-$40 per month/per user. Tally.ERP 9, for example, goes for $9 a month, although it has a one-time subscription starting from $630. Clearview Infocus costs $24 per month for each user, and SlickPie goes for $40 – Slickpie also has a free Starter subscription as well.
  • Medium-sized organizations would typically have to pay within the price range of $10-$45 per month for Accounting and Finance software. For example, FreshBooks charges $15 per month for its medium-sized plan; Sage 50cloud pricing goes for $45 per month, and MYOB Essentials for $14 a month.
  • Large companies can expect prices between $10 and $150 from Accounting and Finance software vendors. For instance, Xero charges $60 per month for its large plan, FINSYNC pricing goes for $45 a month, while QuickBooks Online large subscriptions start at $70 a month

Accounting and Finance software vendors have different prices based on the subcategories into which they fall.

Some of the accounting best of breeds software include

  • Financial Reporting Software This subcategory has a price range of $0-$70. For context, A2X for Amazon pricing starts at $19 a month; Wave Accounting is free across plans, and Cognos costs between $15 and $70.
  • Trust Accounting Software Trust Accounting Software vendors can charge up to $1000 for the software. For example, AdvantageLaw charges a one-time fee of $490, ESILAW 360 pricing goes for $65 per month, and MAUI cost up to $1000 for one month - MAUI has a free trial version as well.
  • Sales Tax software The sales Tax software has a price range of $50-$1500. Traxit costs $50 a month; Utility Software pricing goes for $85, and GreenGIST for a one-time charge of $1500. Intuit ProSeries has a plan which goes for $270 a year, and EcomTax for $19 per month.
  • Bookkeeper Software The bookkeeper Software would cost around $15 to $100, either monthly or yearly. For instance, Neat pricing goes for $100 a year, Veryfi costs up to $15 a month, and Botkeeper pricing sits around $99 a month.
  • Auto Dealer Accounting Software The subcategory can cost up to $200 per month or year. For example, QuickBooks Desktop Pro pricing starts at $200 a year, Abcoa Deal Pack costs up to $75 a month, and MotorLot pricing goes for $45 per month. Host books charge $10 a month, ARI costs $19 per month, and Frazer pricing falls around $55 a month.
  • Debt Collection Software Users can expect to pay $59-$239 a month for Debt Collection Software subscriptions. For example, Funding Gates AR pricing goes for $99, and My DSO Manager pricing starts at $59 a month, with other plans up to $239. Also, CollectMore charges a one-time fee of $6 for its software.

11. Paragon ERP

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


12. ePROMIS

  • Best for: Small, medium and large size businesses
  • Price:
  • May 23, 2022
Compare ePROMIS Vs. Global Shop Solutions ERP

ePROMIS is a cloud-based Human Resources Software that allows its users to organize and manage the cycle of human resources in an organization through the management and processing of Employee payroll, performance, attendance and more.


13. ERP-ONE

  • Best for: SMBs
  • Price:
  • May 19, 2022
Compare ERP-ONE Vs. Global Shop Solutions ERP

ERP-ONE is an enterprise resource planning solution for small and medium businesses. It offers such services as inventory management, sales management, financial management, and others. The software was designed and launched by Distribution One headquartered in New Jersey, United States.


14. Oasis LMS

  • Best for: Medium and large size businesses
  • Price: starts at $3 per user/month
  • May 21, 2022
Compare Oasis LMS Vs. Global Shop Solutions ERP

OasisLIMS is a Software as a Service (SaaS) laboratory information management system (LIMS) that is designed to automate lab workflows, integration, and manage samples and all the related information.


15. Epicor Financial Management

  • Best for: Small, medium and large size businesses
  • Price: starts at $175 per user/month
  • May 17, 2022
Compare Epicor Financial Management Vs. Global Shop Solutions ERP

Epicor Financial Management Software is a cloud based software that streamlines and automates financial processes of organisations. It has a comprehensive suite of tools that support legislative requirements of companies by maintaining timely financial monitoring. General Ledger, Cash Management, Al...


16. WorkWise ERP Software

  • Best for: SMBs
  • Price: starts at $60 per user/month
  • Jun 10, 2022
Compare WorkWise ERP Software Vs. Global Shop Solutions ERP

Workwise Software is an ERP and CRM software for manufacturers to streamline business processes, automate sales and marketing processes, get a view over activities, and improve communication systems.


17. Ajera Complete

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


18. FundBalance Solution

  • Best for: Small, medium and large size businesses
  • Price: starts at $25 per license
  • Aug 25, 2022
Compare FundBalance Solution Vs. Global Shop Solutions 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.


19. Infor Office of the CFO

  • Best for: Small, medium and large size businesses
  • Price: starts at $1,000 per month
  • Jul 16, 2022
Compare Infor Office of the CFO Vs. Global Shop Solutions ERP

Infor\'s Office of the CFO solutions are used by over 25,000 customers worldwide. This comprehensive, complementary suite of solutions will enable you to: Get anytime, anywhere access to systems and information Speed up decision making and reduce errors by having workflows and alerts c...


20. Sage 300 ERP

  • Best for: Medium and large size businesses
  • Price: starts at $75 per month
  • Jul 25, 2022
Compare Sage 300 ERP Vs. Global Shop Solutions ERP

Sage 500 ERP, previously known as Sage ERP MAS 500, is an integrated enterprise management solution that maximises profits, procedural effectuality and productivity of enterprises.  It offers solutions to standard operation like Accounting, Finance, Reporting and Business Management to name a few. T...


21. Workly

  • Best for: Small, medium and large size businesses
  • Price: starts at $13 per unit/month
  • Jul 29, 2022
Compare Workly Vs. Global Shop Solutions ERP

Workly is a workforce management software for business owners and managers to empower HR teams by automating paperwork and tracking employee attendance.


22. FlexiFinancials

  • Best for: Small, medium and large size businesses
  • Price:
  • Jul 31, 2022
Compare FlexiFinancials Vs. Global Shop Solutions ERP

FlexiFinancials, developed by Flexi Software, is a full suite of accounting solutions for companies in several industries including Banking, Insurance, and Financial Services.


23. Accufund Accounting Suite

  • Best for: Small, medium and large size businesses
  • Price: starts at $2,995 per license
  • Sep 22, 2022
Compare Accufund Accounting Suite Vs. Global Shop Solutions ERP

Accufund accounting suite is both a cloud-based and an on-premise solution that is developed to work in medium-sized businesses and large-sized enterprises. The software help enterprises that require a specialized payroll and financial reporting such as municipal government and other agencies.


24. ORBIT

  • Best for: Small, medium and large size businesses
  • Price:
  • Sep 26, 2022
Compare ORBIT Vs. Global Shop Solutions ERP

ORBIT Reporting + Analytics is an ERP software designed to provide businesses with self-service reporting and analytics. The software empowers them with real-time data that provides a 360° view of operations, theory, enabling them to make more informed decisions.


25. The Financial Edge

  • Best for: Small, medium and large size businesses
  • Price: starts at $299 per user/month
  • Oct 04, 2022
Compare The Financial Edge Vs. Global Shop Solutions ERP

Financial Edge is an accounting system best suited for nonprofits and government agencies. This program has an effective solution for grant management. With the user-friendly interface and specific functionalities, all the accounting issues are handled in a timely manner and all postings are done to...


26. SapphireOne

  • Best for: Small, medium and large size businesses
  • Price:
  • Oct 04, 2022
Compare SapphireOne Vs. Global Shop Solutions ERP

SapphireOne is a growing cloud-based ERP software, it is designed to support small, medium and large size business. SapphireOne received a rating of 4.8 from ITQlick team. The software cost is considered affordable (2/5) when compared to alternative solutions.


27. InFocus

  • Best for: Medium and large size businesses
  • Price: starts at $199 per month
  • Oct 05, 2022
Compare InFocus Vs. Global Shop Solutions 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...


28. SBS Financials Software

  • Best for: SMBs
  • Price:
  • Feb 09, 2022
Compare SBS Financials Software Vs. Global Shop Solutions ERP

SBS Healthcare Software is a web-based solution for physician practices that offers customised solutions to help reduce physician practice related challenges and expenses. Since the physician practices deploy Electronic Medical Records (EMR), Practice Management (PM) and are HIPAA compliant among ot...


29. iintegra

  • Best for: Small, medium and large size businesses
  • Price:
  • Jan 26, 2022
Compare iintegra Vs. Global Shop Solutions ERP

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


30. Sage 500 ERP

  • Best for: Start up, Small business, Medium business, Large business
  • Price: starts at $115 per user/month
  • Feb 12, 2022
Compare Sage 500 ERP Vs. Global Shop Solutions ERP

Sage 500 ERP is a web-based enterprise resource planning suite that combines robust and customizable business applications with Business Intelligence and reporting. It is an enterprise management solution that helps progressive companies in streamlining operations to bring about growth and save in c...


31. Blue Skies Accounting

  • Best for: Small, medium and large size businesses
  • Price: starts at $4,800 per license
  • Feb 14, 2022
Compare Blue Skies Accounting Vs. Global Shop Solutions ERP

Blue Skies Accounting® takes a visual approach to data entry, one that places all features just a mouse-click away. Options for all installed programs are available from a single Main Menu Bar and the pull-down menus that extend from it. From here, the operator can go anywhere! The same checks and r...


32. MAX Manufacturing

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


33. Evolution Property Management Software

  • Best for: Start up, Small business, Medium business, Large business
  • Price:
  • Oct 20, 2022
Compare Evolution Property Management Software Vs. Global Shop Solutions 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.


34. TRAVERSE

  • Best for: Small, medium and large size businesses
  • Price: starts at $1,200 per license
  • Feb 22, 2022
Compare TRAVERSE Vs. Global Shop Solutions ERP

Traverse is an ERP Software System and a Business Management Solutions program. The software creates modular and economical solutions for enterprise resource planning and business accounting. The software was designed to give businesses the perspective needed to make smart decisions that will eventu...


35. Serenic Navigator software

  • Best for: Small, medium and large size businesses
  • Price: starts at $16,000 per license
  • Feb 22, 2022
Compare Serenic Navigator software Vs. Global Shop Solutions ERP

Serenic Navigator software is a cloud-based as well as an on-premise non-profit solution that is developed to be used by both individuals as well as by non-profit organizations. The solution can be used in businesses of all sizes such as small-sized businesses, medium-sized businesses, and large ent...


36. Serenic Navigator Online

  • Best for: Small, medium and large size businesses
  • Price: starts at $16,000 per license
  • Feb 26, 2022
Compare Serenic Navigator Online Vs. Global Shop Solutions ERP

Serenic Navigator Online is cloud-based financial management software that is specially designed for grant and donor management. This is a program that was aimed to be for nonprofits and charity organizations and is meant to facilitate transparency in the financial activities of the organization. Al...


37. GMS Accounting

  • Best for: Small, medium and large size businesses
  • Price:
  • Mar 04, 2022
Compare GMS Accounting Vs. Global Shop Solutions ERP

GMS Accounting software is basically a financial management system designed specifically for non-profit and public organizations. The software was launched by Grants Management Systems and aims at regulating the financial aspects of your business. 


38. Sage 100 ERP

  • Best for: Small businesses and start ups
  • Price: starts at $65 per month
  • Mar 08, 2022
Compare Sage 100 ERP Vs. Global Shop Solutions ERP

Sage 100 ERP is a cloud based accounting and ERP software suite designed for small and medium sized businesses. It also deals heavily in project management and planning, allowing you to oversee every detail.   The Sage Company was founded in 1981 in Newcastle Upon Tyne, United Kingdom. It is heade...


39. Pilot ERP

  • Best for: Small businesses and start ups
  • Price: starts at $99 per month
  • Mar 08, 2022
Compare Pilot ERP Vs. Global Shop Solutions ERP

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


40. MIP Fund Accounting

  • Best for: Start up, Small business, Medium business, Large business
  • Price: starts at $0.10 per license
  • Mar 28, 2022
Compare MIP Fund Accounting Vs. Global Shop Solutions ERP

MIP Fund Accounting is financial management software that was initially designed for nonprofits and government organizations. It offers all the necessary solutions for business finances and has over 8,000 customers that are presently using it. There is a wide variety of functions that this software ...


41. AMT ERP

  • Best for: SMBs
  • Price:
  • Apr 20, 2022
Compare AMT ERP Vs. Global Shop Solutions ERP

AMT is an ERP and supply chain solution for importers and manufacturers. It is strategic, secure, scalable, cost effective and portable. It has been developed and modified to cater for the customers’ need to stay current with the ever changing technology. It utilizes Microsoft’s state of the art tec...


42. Agresso ERP

  • Best for: Start up, Small business, Medium business, Large business
  • Price:
  • Nov 07, 2022
Compare Agresso ERP Vs. Global Shop Solutions 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...


43. activityhd

  • Best for: Small, medium and large size businesses
  • Price:
  • Aug 06, 2022
Compare activityhd Vs. Global Shop Solutions ERP

ActivityHD is an ERP and accounting software solution that is deployed both on the cloud and on premise. It is designed to handle payroll and general ledger needs for small to midsize companies.


44. 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. Global Shop Solutions 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.


45. RecRight

  • Best for: Start up, Small business, Medium business, Large business
  • Price: starts at $280.30 per month
  • May 20, 2022
Compare RecRight Vs. Global Shop Solutions ERP

RecRight is a trending cloud-based Human Resources software, it is designed to support small, medium and large size business. RecRight received a rating of 3.7 from ITQlick team. The software cost is considered affordable (1.5/5) when compared to alternative solutions.


46. actiPLANS

  • Best for: Start up, Small business, Medium business, Large business
  • Price: starts at $0.71 per user/month
  • Mar 13, 2020
Compare actiPLANS Vs. Global Shop Solutions ERP

actiPLANS is an award-winning cloud-based Human Resources software, it is designed to support small, medium and large size business. actiPLANS received a rating of 4.7 from ITQlick team. The software cost is considered affordable (2.4/5) when compared to alternative solutions.


47. SAP Business One mobile app

  • Best for: SMBs
  • Price:
  • May 24, 2022
Compare SAP Business One mobile app Vs. Global Shop Solutions ERP

SAP Business One mobile app is a growing cloud-based ERP software, it is designed to support small and medium size business. SAP Business One mobile app received a rating of 4 from ITQlick team. The software cost is considered affordable (1.9/5) when compared to alternative solutions.


48. Simply Accounts

  • Best for: SMBs
  • Price: starts at $30 per year
  • Apr 15, 2021
Compare Simply Accounts Vs. Global Shop Solutions ERP

Simply Accounts is a growing cloud-based Accounting-Finance software, it is designed to support small and medium size business. Simply Accounts received a rating of 3.9 from ITQlick team. The software cost is considered affordable (1.5/5) when compared to alternative solutions.


49. Talibro.com

  • Best for: SMBs
  • Price: starts at $19.95 per user/month
  • Sep 24, 2019
Compare Talibro.com Vs. Global Shop Solutions ERP

Talibro.com is a growing cloud-based Accounting-Finance software, it is designed to support small and medium size business. Talibro.com received a rating of 3.9 from ITQlick team. The software cost is considered affordable (1.5/5) when compared to alternative solutions.


50. BalancedComp

  • Best for: Medium and large size businesses
  • Price: starts at $20 per year
  • Jul 18, 2022
Compare BalancedComp Vs. Global Shop Solutions ERP

BalancedComp is a trending cloud-based Payroll software, it is designed to support medium and large size business. BalancedComp received a rating of 3.2 from ITQlick team. The software cost is considered affordable (2.5/5) when compared to alternative solutions.


51. 1hrms.com

  • Best for: Start up, Small business, Medium business, Large business
  • Price: starts at $1,000 per year
  • Sep 13, 2019
Compare 1hrms.com Vs. Global Shop Solutions ERP

1hrms.com is a growing cloud-based Human Resources software, it is designed to support small, medium and large size business. 1hrms.com received a rating of 4.1 from ITQlick team. The software cost is considered affordable (1.8/5) when compared to alternative solutions.


52. DJ Mixer Express for Mac

  • Best for: Small businesses and start ups
  • Price: starts at $29.95 per license
  • Sep 20, 2019
Compare DJ Mixer Express for Mac Vs. Global Shop Solutions ERP

DJ Mixer Express for Mac is an award-winning cloud-based Business Plan software, it is designed to support small and medium size business. DJ Mixer Express for Mac received a rating of 4 from ITQlick team. The software cost is considered affordable (1.9/5) when compared to alternative solutions.


53. enterprise IT Financial and Business Management

  • Best for: Small, medium and large size businesses
  • Price:
  • May 27, 2022
Compare enterprise IT Financial and Business Management Vs. Global Shop Solutions ERP

enterprise IT Financial and Business Management is an award-winning cloud-based CRM software, it is designed to support small, medium and large size business. enterprise IT Financial and Business Management received a rating of 4.5 from ITQlick team. The software cost is considered average (2.9/5) ...


54. Financial Accounting Software

  • Best for: Small, medium and large size businesses
  • Price: starts at $69 per license
  • Nov 08, 2019
Compare Financial Accounting Software Vs. Global Shop Solutions ERP

Financial Accounting Software is a growing cloud-based Accounting-Finance software, it is designed to support small, medium and large size business. Financial Accounting Software received a rating of 3 from ITQlick team. The software cost is considered affordable (1.8/5) when compared to alternativ...



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 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.