Top 75 Inventory Management Accounting Software

TOP 75 Inventory Management Accounting Software

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1. Multiview

  • Best for: Small, medium and large size businesses
  • Price: starts at $150 per user/year
  • Mar 11, 2022
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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.


2. Denali Business

  • Best for: Small businesses and start ups
  • Price: starts at $1,999 per license
  • Mar 10, 2022
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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...


3. SAP Financials On Demand

  • Best for: Small, medium and large size businesses
  • Price:
  • Mar 04, 2022
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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...


4. Sage Intacct

  • Best for: Small, medium and large size businesses
  • Price: starts at $15,000 per year
  • Apr 12, 2022
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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.


5. NetSuite Financials

  • Best for: Small, medium and large size businesses
  • Price: starts at $499 per user/month
  • Apr 13, 2022
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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...


6. Sage 100 Contractor

  • Best for: Small businesses and start ups
  • Price: starts at $115 per user/month
  • Jun 11, 2022
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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...


7. Sage 300 Construction and Real Estate

  • Best for: Small, medium and large size businesses
  • Price: starts at $14,000 per license
  • Apr 01, 2022
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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.


8. Sage Fixed Assets

  • Best for: Medium and large size businesses
  • Price: starts at $15,000 per license
  • Apr 15, 2022
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Sage Fixed Assets is an on-premise fixed asset management software solution that is designed to assist companies to increase accuracy, reduce costs, and eliminate redundant data. The software assists businesses track as well as manage the company’s fixed assets in every step of the asset lifecycle. ...


9. Gazelle

  • Best for: Small businesses and start ups
  • Price: starts at $18 per feature/month
  • Apr 27, 2022
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The Gazelle software is a software solution that turns usable customer information into data that can help clients identify business opportunities for keeping their current customers and acquiring new customers. Most companies and clients don’t realize the true value of the information that they hav...


10. bcFood

  • Best for: Small, medium and large size businesses
  • Price:
  • May 17, 2022
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BcFood is an enterprise solution for the Food Industry. The software is built on the Microsoft Dynamics NAV platform and provides support for financials, production, distribution and inventory for food processing, manufacturing and supply. Beck Consulting the developer behind BcFood was founded i...


11. FACTIVITY

  • Best for: Small, medium and large size businesses
  • Price: starts at $50,000 per license
  • May 21, 2022
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FACTIVITY software is an on-premise and cloud-based MES (Manufacturing execution solution) that helps businesses to extract data as well as create real-time OEE (Overall Equipment Effectiveness) metrics to understand the performance of factory assets.


12. Epicor Financial Management

  • Best for: Small, medium and large size businesses
  • Price: starts at $175 per user/month
  • May 17, 2022
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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...


13. Fracttal

  • Best for: Small, medium and large size businesses
  • Price: starts at $255 per month
  • Jun 15, 2022
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Fracttal is a maintenance software that helps companies keep records of all their assets, facilities, vendors, historical data, and related information.


14. Tire Inventory Solutions

  • Best for: Small businesses and start ups
  • Price: starts at $39 per month
  • Jun 15, 2022
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Tire Inventory Solutions is a tire inventory management software for tire dealers to manage and promote new and used tires and wheels, organize inventory lists, advertise businesses, and create sales invoices.


15. BIS® Construction Management Software

  • Best for: SMBs
  • Price:
  • May 26, 2022
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BIS Professional is a construction management solution for construction businesses of all sizes. Its capabilities include project management, estimating, accounting, and others. The software was designed and launched by MICS Inc headquartered in California, United States.


16. Cetaris

  • Best for: Small, medium and large size businesses
  • Price: starts at $1,000 per license
  • Jun 23, 2022
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Cetaris is a cloud-based fleet management software that helps businesses to ease maintenance for vehicles through data analysis and capturing. It enables end-users to boost productivity by conducting standard repairs.


17. SiteManager

  • Best for: Small, medium and large size businesses
  • Price: starts at $5 per month
  • Jun 18, 2022
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SiteManager is a maintenance management solution for businesses of all sizes. It offers central management of multiple websites and facilitates fuel distribution and inventory management. The software was designed and launched by COENCORP Consultant Corporation headquartered in Quebec, Canada.


18. VServiceManagement™

  • Best for: Large business
  • Price:
  • Jun 25, 2022
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VserviceManagement is a web based field service management solution for businesses of all sizes. It offers such services as business intelligence, work order management, scheduling and routing, and others. The software was designed and launched by Vertical Solutions Inc headquartered in Ohio, United...


19. Agility

  • Best for: Small, medium and large size businesses
  • Price: starts at $47 per user/month
  • Jul 06, 2022
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Agility is an on-premise medical practice management solution that is developed to be used in hospitals and clinics of all sizes. The solution is developed to be used in disciplines of all kinds in the medical field including general care services, family care services, ambulatory services, occupati...


20. Acumatica Distribution Management Suite

  • Best for: Start up, Small business, Medium business
  • Price: starts at $649 per month
  • Jul 05, 2022
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Acumatica Distribution Management Suite is an application software module, which has been developed to aid in the management of the intricacies of distribution. It enables the user to track inventory, purchasing, ordering, filling orders, and delivering customer support. This software delivers real-...


21. Vertical Market Software

  • Best for: SMBs
  • Price:
  • Jul 13, 2022
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Vertical Market Software is cloud-based construction software that enables contractors to control operational processes and costs throughout the life cycle of a job, as well as managing maintenance scheduling and administration billing.


22. Infor Office of the CFO

  • Best for: Small, medium and large size businesses
  • Price: starts at $1,000 per month
  • Jul 16, 2022
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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...


23. Sage 300 ERP

  • Best for: Medium and large size businesses
  • Price: starts at $75 per month
  • Jul 25, 2022
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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...


24. Construction Partner

  • Best for: SMBs
  • Price: starts at $5,995 per license
  • Jul 28, 2022
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Construction Partner is a construction accounting software designed to track costs on materials, labor, and equipment automatically. It also allows users to simplify payroll processing by automating complex calculations.


25. Quickbooks POS

  • Best for: Small businesses and start ups
  • Price: starts at $12.50 per user/month
  • May 01, 2022
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Quickbooks POS is a cloud-based and on-premise mobile point of sale solution that is designed to help the user manage customer relations and sales processes. Some of its core features include barcode scanning, price lookup, credit card processing and receipt notes among others.


26. Exact Globe Accounting

  • Best for: Small, medium and large size businesses
  • Price: starts at $225 per license
  • Aug 01, 2022
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Exact Globe is an enterprise resource planning solution for small and medium businesses. Its capabilities include procurement management, accounting, inventory management, and others. The software was designed and launched by K2 Enterprise headquartered in California, United States.


27. Flightdocs

  • Best for: Small, medium and large size businesses
  • Price:
  • Apr 05, 2022
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Flightdocs is a growing cloud-based Maintenance software, it is designed to support small, medium and large size business. Flightdocs received a rating of 4.6 from ITQlick team. The software cost is considered affordable (1.6/5) when compared to alternative solutions.


28. NEXGEN Asset Management

  • Best for: SMBs
  • Price: starts at $175 per month
  • Mar 01, 2022
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NEXGEN Asset Management is an enterprise asset management solution for businesses of all sizes. It offers such services as asset categorization, risk prioritization, GIS integration, and others. The software was designed and launched by NEXGEN Asset Management headquartered in California...


29. TrueERP

  • Best for: Small, medium and large size businesses
  • Price:
  • Mar 23, 2022
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TrueERP is an enterprise resource planning solution for businesses of all sizes. Its capabilities include accounting management, inventory management, order management, and others. The software was designed and launched by TrueERP headquartered in Queensland, United States.


30. ONE UP

  • Best for: Small, medium and large size businesses
  • Price: starts at $9 per user/month
  • Apr 03, 2022
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ONE UP is a fast growing cloud-based Accounting-Finance software, it is designed to support small, medium and large size business. ONE UP received a rating of 5 from ITQlick team. The software cost is considered average (2.8/5) when compared to other solutions in their category.


31. SBT Executive Series

  • Best for: Small, medium and large size businesses
  • Price:
  • May 17, 2022
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SBT Executive Series is both a server and cloud-based integrated accounting solution designed with drill-down capabilities. Some of its core features include document scanning, file attachments, workflow routing, and approvals.


32. Sage 500 ERP

  • Best for: Start up, Small business, Medium business, Large business
  • Price: starts at $115 per user/month
  • Feb 12, 2022
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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...


33. Blue Skies Accounting

  • Best for: Small, medium and large size businesses
  • Price: starts at $4,800 per license
  • Feb 14, 2022
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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...


34. Serenic Navigator software

  • Best for: Small, medium and large size businesses
  • Price: starts at $16,000 per license
  • Feb 22, 2022
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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...


35. Transcendent

  • Best for: Large business
  • Price: starts at $100 per user/month
  • Feb 23, 2022
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Transcendent CMMS is a web based maintenance management solution for businesses of all sizes. It offers such capabilities as planning calendar, asset tracking, work order management, and others. The software was designed and launched by Mintek Mobile Data Solutions Inc headquartered in Florida, Unit...


36. ParityFactory

  • Best for: Small, medium and large size businesses
  • Price:
  • Mar 03, 2022
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ParityFactory is a leading cloud-based Inventory Management software, it is designed to support small, medium and large size business. ParityFactory received a rating of 4 from ITQlick team. The software cost is considered average (3.5/5) when compared to other solutions in their category.


37. Serenic Navigator Online

  • Best for: Small, medium and large size businesses
  • Price: starts at $16,000 per license
  • Feb 26, 2022
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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...


38. GMS Accounting

  • Best for: Small, medium and large size businesses
  • Price:
  • Mar 04, 2022
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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. 


39. Exact Macola Manufacturing

  • Best for: Start up, Small business, Medium business
  • Price: starts at $70 per user/month
  • Mar 03, 2022
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Exact Macola Manufacturing Pro is an ERP solution for the discrete manufacturing sector. The software includes Financial Accounting, Distribution and a comprehensive Manufacturing module that has scheduling, planning, routing, quoting, costing, shop floor management as well as CRM. Exact was foun...


40. PIRO

  • Best for: SMBs
  • Price: starts at $299 per month
  • Mar 09, 2022
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PIRO is an award-winning cloud-based ERP software, it is designed to support small and medium size business. PIRO received a rating of 2.5 from ITQlick team. The software cost is considered affordable (1/5) when compared to alternative solutions.


41. OGsys

  • Best for: Small, medium and large size businesses
  • Price:
  • Mar 23, 2022
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OGsys is a trending cloud-based Budgeting-Forecasting software, it is designed to support small, medium and large size business. OGsys received a rating of 2.5 from ITQlick team. The software cost is considered affordable (1.9/5) when compared to alternative solutions.


42. ShipMonk

  • Best for: SMBs
  • Price: starts at $3 per order
  • Mar 22, 2022
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ShipMonk is a leading cloud-based Inventory Management software, it is designed to support small and medium size business. ShipMonk received a rating of 4.4 from ITQlick team. The software cost is considered affordable (1.3/5) when compared to alternative solutions.


43. EazyStock

  • Best for: Small, medium and large size businesses
  • Price: starts at $851.72 per month
  • Mar 08, 2022
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EazyStock is a cloud-based inventory optimization solution for wholesalers, distributors, manufacturers and retailers. Integrating with your existing ERP, EazyStock automates your inventory management to reduce excess inventory, increase your service levels, decrease the amount of time spent on manu...


44. LiveHealth

  • Best for: Small, medium and large size businesses
  • Price: starts at $750 per month
  • Mar 25, 2022
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LiveHealth is cloud-based medical practice management that is also used as a revenue cycle management solution for hospitals and clinics of all sizes. The solution functions in all types of practices and helps the physicians reduce the time taken in treating patients because the practice is simplifi...


45. MIP Fund Accounting

  • Best for: Start up, Small business, Medium business, Large business
  • Price: starts at $0.10 per license
  • Mar 28, 2022
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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 ...


46. Traceability Made Easy

  • Best for: Medium and large size businesses
  • Price: starts at $500 per month
  • Mar 29, 2022
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Traceability Made Easy is a maintenance management solution for businesses of all sizes. It offers such capabilities as inventory tracking, work order management, custom reporting, and others. The software was designed and launched by MASS Group Inc headquartered in California, United States.


47. inDinero

  • Best for: Small, medium and large size businesses
  • Price: starts at $300 per month
  • Apr 04, 2022
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inDinero software is a cloud-based accounting & tax software built to serve owners and CEOs of medium-sized and small businesses, startups and entrepreneurs. It enables the users to access their key financial data, understand their financial status and the performance of the business.


48. ProMed

  • Best for: Small, medium and large size businesses
  • Price: starts at $300 per year
  • Apr 21, 2022
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ProMed Application Suite, a flexible customizable and cost effective Health Care Management Solution, precisely Hospital Management System (HMS) that could harness all of your clinical and administrative data, ensuring that it’s stored & managed efficiently, intelligently and securely. Visit ProMedH...


49. Agresso ERP

  • Best for: Start up, Small business, Medium business, Large business
  • Price:
  • Apr 26, 2022
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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...


50. Compeat

  • Best for: Small, medium and large size businesses
  • Price: starts at $289 per location/month
  • May 11, 2022
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Compeat is a leading cloud-based Inventory Management software, it is designed to support small, medium and large size business. Compeat received a rating of 4 from ITQlick team. The software cost is considered affordable (2/5) when compared to alternative solutions.


51. MapAnything

  • Best for: Small, medium and large size businesses
  • Price: starts at $490 per user/month
  • May 13, 2022
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MapAnything (now known as Salesforce Maps) is a cloud-based Field Service software that allows administrators to optimize territory and seek out geographic potentials.


52. Traxroot

  • Best for: Large business
  • Price: starts at $3 per month
  • May 16, 2022
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Traxroot is a cloud-based fleet management software that ensures streamlined management of fleets of vehicles on a singular platform. This software helps users gain valuable insights that help them run their transport business on a day-to-day basis.


53. Sage Intacct Software

  • Best for: Small, medium and large size businesses
  • Price: starts at $15,000 per year
  • May 19, 2022
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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.


54. FreightTrain

  • Best for: SMBs
  • Price: starts at $3,000 per user/month
  • Jul 26, 2022
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FreightTrain is a leading cloud-based Construction software, it is designed to support small and medium size construction business. FreightTrain received a rating of 3.1 from ITQlick team. The software cost is considered affordable (2.2/5) when compared to alternative solutions.


55. SAP Business One mobile app

  • Best for: SMBs
  • Price:
  • May 24, 2022
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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.


56. Exchequer

  • Best for: SMBs
  • Price:
  • Apr 15, 2021
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Exchequer is a growing cloud-based Accounting-Finance software, it is designed to support small and medium size business. Exchequer received a rating of 3.3 from ITQlick team. The software cost is considered average (3.1/5) when compared to other solutions in their category.


57. FreePlus Accounts

  • Best for: Small, medium and large size businesses
  • Price: starts at $5.50 per month
  • Apr 15, 2021
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FreePlus Accounts is a trending cloud-based Accounting-Finance software, it is designed to support small, medium and large size business. FreePlus Accounts received a rating of 4.1 from ITQlick team. The software cost is considered average (3.3/5) when compared to other solutions in their category.


58. OneStep Accounting

  • Best for: SMBs
  • Price: starts at $90 per license
  • Apr 15, 2021
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OneStep Accounting is a growing cloud-based Accounting-Finance software, it is designed to support small and medium size business. OneStep Accounting received a rating of 4.6 from ITQlick team. The software cost is considered average (2.6/5) when compared to other solutions in their category.


59. Shoebooks

  • Best for: SMBs
  • Price: starts at $29 per user/month
  • Apr 15, 2021
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Shoebooks is a cloud-based accounting solution designed to help with bank reconciliation and payroll management in small to medium-sized enterprises. Some of its core features include banking, project costing and complete financial reporting and more.


60. SortMyBooks

  • Best for: SMBs
  • Price: starts at $25 per user/month
  • Apr 15, 2021
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SortMyBooks is a growing cloud-based Accounting-Finance software, it is designed to support small and medium size business. SortMyBooks received a rating of 4.4 from ITQlick team. The software cost is considered affordable (2/5) when compared to alternative solutions.


61. overseepos

  • Best for: Start up, Small business, Medium business, Large business
  • Price:
  • Nov 10, 2019
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overseepos is a growing cloud-based Billing-Invoicing software, it is designed to support small, medium and large size business. overseepos received a rating of 3.3 from ITQlick team. The software cost is considered affordable (2.4/5) when compared to alternative solutions.


62. EMPOWER by Empower Software Solutions, Inc.

  • Best for: Small, medium and large size businesses
  • Price:
  • Aug 11, 2019
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EMPOWER by Empower Software Solutions, Inc. is a trending cloud-based School Management software, it is designed to support small, medium and large size schools. EMPOWER by Empower Software Solutions, Inc. received a rating of 3.6 from ITQlick team. The software cost is considered average (3.5/5) w...


63. DJ Mixer Express for Mac

  • Best for: Small businesses and start ups
  • Price: starts at $29.95 per license
  • Sep 20, 2019
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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.


64. enterprise IT Financial and Business Management

  • Best for: Small, medium and large size businesses
  • Price:
  • May 27, 2022
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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) ...


65. CoachRail

  • Best for: Large business
  • Price: starts at $199 per month
  • Feb 21, 2020
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CoachRail is a fleet management software that helps users manage the fleet of coaches and grow their business from within and outside the office. The software tracks coaches or buses from the point of dispatching to when they arrive at their destinations.


66. BME Assistor

  • Best for: Small, medium and large size businesses
  • Price:
  • Mar 05, 2020
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BME Assistor is a cloud-based CMMS software that enables administrators to track their organization life cycle, preventive maintenance, and calibration, as well as collaborating with other team members of different fields.


67. MultiLedger Integrated Accounting

  • Best for: SMBs
  • Price: starts at $499 per license
  • Dec 17, 2019
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MultiLedger Integrated Accounting is an on-premise fully integrated and comprehensive accounting software that is tailored for the small and mid-sized businesses. The software automates accounting processes and merges various functionalities into a single package.


68. Financial Accounting Software

  • Best for: Small, medium and large size businesses
  • Price: starts at $69 per license
  • Nov 08, 2019
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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...


69. SOGAS

  • Best for: Small, medium and large size businesses
  • Price:
  • Nov 04, 2019
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SOGAS is a growing cloud-based Accounting-Finance software, it is designed to support small, medium and large size business. SOGAS received a rating of 3.1 from ITQlick team. The software cost is considered affordable (2.4/5) when compared to alternative solutions.


70. Advantage Accounting System

  • Best for: SMBs
  • Price:
  • Oct 26, 2019
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Advantage Accounting System is a growing cloud-based Accounting-Finance software, it is designed to support small and medium size business. Advantage Accounting System received a rating of 4.5 from ITQlick team. The software cost is considered affordable (1.6/5) when compared to alternative solutio...


71. BizSlate - Inventory Management Software

  • Best for: Start up, Small business, Medium business
  • Price: starts at $79 per user/month
  • Sep 25, 2019
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BizSlate - Inventory Management Software is a growing cloud-based Inventory Management software, it is designed to support small and medium size business. BizSlate - Inventory Management Software received a rating of 4.3 from ITQlick team. The software cost is considered average (2.6/5) when compar...


72. OGBOOKS

  • Best for: Small, medium and large size businesses
  • Price: starts at $3,500 per user/year
  • Oct 07, 2019
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OGBOOKS is a leading cloud-based Accounting-Finance software, it is designed to support small, medium and large size business. OGBOOKS received a rating of 4.5 from ITQlick team. The software cost is considered affordable (2.2/5) when compared to alternative solutions.


73. StepUp Accounting

  • Best for: Small, medium and large size businesses
  • Price: starts at $4,500 per license
  • Aug 12, 2019
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StepUp Accounting is a growing cloud-based Accounting-Finance software, it is designed to support small, medium and large size business. StepUp Accounting received a rating of 3.2 from ITQlick team. The software cost is considered average (2.8/5) when compared to other solutions in their category.


74. CYMA Inventory Control

  • Best for: Small, medium and large size businesses
  • Price: starts at $12,000 per license
  • Sep 13, 2019
Compare CYMA Inventory Control Vs. Multiview

CYMA Inventory Control is a growing cloud-based Inventory Management software, it is designed to support small, medium and large size business. CYMA Inventory Control received a rating of 5 from ITQlick team. The software cost is considered affordable (1.9/5) when compared to alternative solutions.


75. Integrated Accounting

  • Best for: Small, medium and large size businesses
  • Price:
  • Nov 13, 2019
Compare Integrated Accounting Vs. Multiview

Integrated Accounting is a fast growing cloud-based Accounting-Finance software, it is designed to support small, medium and large size business. Integrated Accounting received a rating of 4.3 from ITQlick team. The software cost is considered affordable (1.9/5) when compared to alternative solutio...



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.