Top 54 Procurement Software

2022's Best 54 Procurement Systems

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1. DXC Procurement

  • Best for: Small, medium and large size businesses
  • Price:
  • Mar 11, 2022
Compare DXC Procurement Vs. DXC Procurement

DXC Procurement is a cloud-based end-to-end procurement solution that offers requisition, invoicing and time & expense management solution. The user can modify the DXC Procurement solution to meet their specific needs including modify texts, add & hide fields, default values and make fields read-onl...


2. Circle Commerce

  • Best for: Small, medium and large size businesses
  • Price:
  • Mar 12, 2022
Compare Circle Commerce Vs. DXC Procurement

Circle Commerce is an omnichannel management software suite that handles reporting, forecasting and accounting. The solution offers a number of capabilities that include a customer reach tool that allows access to customer records.


3. ContractExpress for SharePoint

  • Best for: Start up, Small business, Medium business
  • Price:
  • Mar 14, 2022
Compare ContractExpress for SharePoint Vs. DXC Procurement

ContractExpress for Sharepoint is a cloud-based contract creation and management software that automates managing, reviewing, and drafting legal contracts and agreements. Contract for Sharepoint creates documents and contracts that are stored directly into the document libraries.


4. SynerTrade

  • Best for: Medium and large size businesses
  • Price: starts at $59 per user/month
  • Mar 23, 2022
Compare SynerTrade Vs. DXC Procurement

SynerTrade Accelerate is a cloud-based supply chain management and procurement solution for medium and large enterprises. Its key features include catalog, contract, requisition, sourcing, spend, purchase order, and supplier manager, invoice processing, and supplier web portal.


5. DeltaBid

  • Best for: Small, medium and large size businesses
  • Price: starts at $129 per user/month
  • Mar 25, 2022
Compare DeltaBid Vs. DXC Procurement

DeltaBid is an award-winning cloud-based Procurement software, it is designed to support small, medium and large size business. DeltaBid received a rating of 4.5 from ITQlick team. The software cost is considered affordable (1/5) when compared to alternative solutions.


6. Lextree

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

Lextree is a contract management software that helps users in terms of eliminating the need for file folders and spreadsheets.


7. SIGNiX Digital Signature Service

  • Best for: Small, medium and large size businesses
  • Price: starts at $10 per seat/month
  • Jun 01, 2022
Compare SIGNiX Digital Signature Service Vs. DXC Procurement

MyDox Digital Signatures is a web based digital signature solution for businesses of all sizes. Its capabilities include custom branded email, multiple signature type support, bulk signing, and others. The software was designed and launched by MyDox Digital Signaturesheadquartered in Tennessee, Unit...


8. Spendwise

  • Best for: Small, medium and large size businesses
  • Price: starts at $9 per user/month
  • Jun 07, 2022
Compare Spendwise Vs. DXC Procurement

Spendwise is a cloud-based Supply Chain Management software designed to make purchasing easy, fast and secure. This application allows you to create, send and approve quality purchase orders; receive on purchase orders when goods are received or delivered and manage bills and expenses electronically...


9. Precoro

  • Best for: Small, medium and large size businesses
  • Price: starts at $35 per user/month
  • Jun 07, 2022
Compare Precoro Vs. DXC Procurement

Precoro is cloud-based Procurement Software that allows managers to organize orders and send them to suppliers in an automated system.


10. Gatekeeper Software

  • Best for: Small, medium and large size businesses
  • Price: starts at $875 per month
  • Aug 09, 2022
Compare Gatekeeper Software Vs. DXC Procurement

Gatekeeper is a cloud-based contract management software that assists team managers in automating reminders for contract lifecycles and customizing renewal, negotiations, or cancellation.


Pricing Guide - Procurement Software:

Procurement Management Software Price Range

The starting price for a typical Procurement Software is in the range of $0 and $40 per month. The majority of vendors offer their products using the “per month/per user” price format. They may also bundle additional service charges for features such as integrations to third-party software, advanced report and portals for suppliers.

  • Small businesses can expect to pay $7-$1500 a month for a procurement software product. For example, Quartzy pricing starts at $39 per month, Deltek Costpoint costs around $7 a month for the first three months, and Khareed E-Procurement goes for $1500 a month. Some other vendors would offer annual licenses as well. One example is Market Dojo, which costs about $1550 per year for each user.
  • SMBs: The pricing for procurement software products for Medium-sized organisations is typically between $1 and $500 per month. For instance, CommonPage pricing starts at $9 a month, SnapAP cost around $500 and ALTO eProcure pricing goes for $1 a month. Gluh begins at around $100 a month as well.
  • Large Establishments can expect to pay upwards of $11 a month for Procurement software. For context, Oracle Procurement Cloud pricing starts at $575 per month, Tradogram at $15 a month and Bellwether goes for $18 a month for its Enterprise plan.
  • Free software: Some vendors offer free versions of their Procurement software. For example, Spendwise provides a free version, and a subscription plan of $9 a month if the user needs it. Chondrion offers a free plan for the first month. Applegate PRO is free as well, but with paid plans starting at 1 cent a month.
  • Procurement software products for Windows OS have a subscription price up to $350 a month. For instance, WebReq pricing goes for $20 a month and Avartantech for $350 per month. Other vendors charge a one-time fee, like Ourshared P2P, which starts at $6500 one-time licensing.
  • Web-based Procurement Solutions typically start at $19 a month. Precoro, for example, starts from $29 a month and also offers large plans of $19 per month. Also, ISNetworld charges $680 a year. Some other vendors charge one-time fees; for example, Panacea costs $7000 for a one-time licensing.
  • macOS users can expect to pay up to $775 for a procurement software product. For example, e-proCAT charges $499 one-time fee, FirstBIT pricing goes for $8 per month for the first three months, and Gatekeeper costs up to $775 monthly.

11. MACH Software

  • Best for: SMBs
  • Price: starts at $40,000 per license
  • Jul 06, 2022
Compare MACH Software Vs. DXC Procurement

MACH Software is a cloud-based inventory management system that is specifically designed for use in small-sized businesses, medium-sized businesses, and large enterprises. MACH Software is a complete multi-channel order management software solution.


12. Ivalua

  • Best for: Small, medium and large size businesses
  • Price: starts at $2,000 per user/month
  • Aug 23, 2022
Compare Ivalua Vs. DXC Procurement

Ivalua is both a cloud-based as well as on-premise procurement and vendor management software solution. The software assists in the organization of data, reporting, and planning as well. Ivalua is designed to digitize the supply chain process within business operations.


13. SCLogic Software

  • Best for: Small, medium and large size businesses
  • Price:
  • Aug 18, 2022
Compare SCLogic Software Vs. DXC Procurement

SCLogic Software is both a cloud-based as well as on-premise workflow management software. The software is a vertical business process management solution assists companies plan, measure accountable items and execute.


14. Contract Insight Contract Management Software

  • Best for: Small, medium and large size businesses
  • Price: starts at $59.99 per user/month
  • Oct 06, 2022
Compare Contract Insight Contract Management Software Vs. DXC Procurement

CobbleStone Contract Insight is a contract management software designed for companies to secure and manage contracts and agreements, track their finances, run advanced reports, and increase collaboration and visibility.


15. BasWare Purchase Management

  • Best for: Small, medium and large size businesses
  • Price: starts at $100,000 per year
  • Oct 12, 2022
Compare BasWare Purchase Management Vs. DXC Procurement

BasWare Purchase Management is a cloud-based procurement software that is designed to assist companies to buy goods or pay for services in an easy, paperless and secure manner. With the software, companies can be able to have a complete overview of items that have been ordered, purchased, as well as...


16. Bellwether Purchasing Software

  • Best for: SMBs
  • Price: starts at $8.50 per feature/month
  • May 01, 2022
Compare Bellwether Purchasing Software Vs. DXC Procurement

Bellwether Purchasing is a purchasing and inventory software that helps organizations take control of their procurement and inventory processes, gain control overspending, and customize workflow.


17. ConnectWise Distribution

  • Best for: Small, medium and large size businesses
  • Price: starts at $24 per user/month
  • Apr 25, 2022
Compare ConnectWise Distribution Vs. DXC Procurement

ConnectWise Distribution is a procurement and inventory management solution for businesses of all sizes. It offers assistance in such aspects as purchasing, receiving, product lifecycle management, and others. The software was designed and launched by ConnectWise headquartered in Florida...


18. Zycus

  • Best for: Medium and large size businesses
  • Price: starts at $59 per user/month
  • May 01, 2022
Compare Zycus Vs. DXC Procurement

Zycus is a cloud-based procurement solution which is across the source-to-pay cycle. Some of its core features include strategic procurement, supplier management, and contract management and more.


19. 3rdWave

  • Best for: Small, medium and large size businesses
  • Price: starts at $1,995 per month
  • May 16, 2022
Compare 3rdWave Vs. DXC Procurement

3rdWave is a procurement software designed to help businesses experience the pinnacle of visibility. The software achieves this by validating and capturing supply chain data for a holistic view of operations.


20. E2Open Software

  • Best for: Small, medium and large size businesses
  • Price:
  • May 23, 2022
Compare E2Open Software Vs. DXC Procurement

E2Open is a supply chain management software built for businesses to create real-time visibility, eliminate barriers to control solutions, and empower clients.


21. Opensource Contract Manager

  • Best for: SMBs
  • Price: starts at $6,000 per year
  • May 26, 2022
Compare Opensource Contract Manager Vs. DXC Procurement

Opensource Contract Manager is a web based contract management solution for businesses of all sizes. It offers such services as contract authoring, approval management, auditing and reporting, and others. The software was designed and launched by OpenSource Inc headquartered in California...


22. SpendBoss

  • Best for: Small, medium and large size businesses
  • Price: starts at $30 per license
  • Jun 15, 2022
Compare SpendBoss Vs. DXC Procurement

SpendBoss is a spend/asset management software designed for managers and business owners to provide real-time business analytics, control operational expenses, run locations swiftly, and acquire real-time information.


23. Parley Pro

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 18, 2022
Compare Parley Pro Vs. DXC Procurement

Parley Pro is a scenic cloud platform that is based on a contract lifecycle management system. It has important features like real-time contract negotiation, automatic automation, actionable contract analysis, and intelligent and collaborative management solution for effective business progression.


24. b-pack

  • Best for: Small, medium and large size businesses
  • Price:
  • Aug 25, 2022
Compare b-pack Vs. DXC Procurement

b-pack is a procurement management solution for businesses of all sizes. Other than procurement management, it also offers real time budget management, performance monitoring, integration, and other capabilities. The software was designed and launched by b-pack headquartered in Georgia, ...


25. rapidor

  • Best for: Small businesses and start ups
  • Price: starts at $10 per feature/month
  • Jul 02, 2022
Compare rapidor Vs. DXC Procurement

Rapidor is a B2B trade software for businesses to control critical business processes, manage business automation and working capital needs, and capture and track order details.


26. Quotewerks

  • Best for: SMBs
  • Price: starts at $15 per user/month
  • Jun 24, 2022
Compare Quotewerks Vs. DXC Procurement

Quotewerks is a sales quoting and proposal solution for businesses of all sizes. It offers the management of quotes and prices along with analytical and integration capabilities. The software was designed and launched by Aspire Technologies Inc headquartered in Florida, United States.


27. Contract Management Suite

  • Best for: Start up, Small business, Medium business, Large business
  • Price:
  • Jun 24, 2022
Compare Contract Management Suite Vs. DXC Procurement

Contract Suite Management is a contract management software built for businesses to improve negotiating outcomes, ensure consistency over global teams, maintain accuracy in contracts, and maximize the value of customer relationships.


28. eBuyerAssist

  • Best for: Medium and large size businesses
  • Price: starts at $34.95 per user/month
  • Jul 09, 2022
Compare eBuyerAssist Vs. DXC Procurement

eBuyerAssist is a trending cloud-based Supply Chain software, it is designed to support medium and large size business. eBuyerAssist received a rating of 5 from ITQlick team. The software cost is considered average (3/5) when compared to other solutions in their category.


29. eLynxx

  • Best for: Small, medium and large size businesses
  • Price: starts at $975 per user/month
  • Jul 07, 2022
Compare eLynxx Vs. DXC Procurement

Elynxx is a print management and procurement software for print buyers to improve print management workflow, full vendor management, harness the complexities of print projects, and energize collaboration with trusted vendors.


30. Sourcing Force

  • Best for: Small, medium and large size businesses
  • Price: starts at $7 per user/month
  • Jul 16, 2022
Compare Sourcing Force Vs. DXC Procurement

Sourcing Force is a supply chain management software built for businesses to automate their tasks and processes of procurement. It is a complete cloud-based platform that fully incorporates ERP systems utilizing APIs.


31. NiceLabel Designer Standard

  • Best for: Small, medium and large size businesses
  • Price: starts at $295 per license
  • Jul 15, 2022
Compare NiceLabel Designer Standard Vs. DXC Procurement

NiceLabel Designer Standard is a cloud-based procurement software that allows printing professionals to generate labels without prerequisite technicalities and link labels with third-party data systems.


32. NiceLabel Designer Express

  • Best for: Small, medium and large size businesses
  • Price: starts at $71 per year
  • Jul 25, 2022
Compare NiceLabel Designer Express Vs. DXC Procurement

NiceLabel Designer Express is a labeling management software that enables businesses to transform labeling operations by managing, reviewing, designing, and controlling labeling operations and scaling printing activities across businesses.


33. Tradogram

  • Best for: Small, medium and large size businesses
  • Price: starts at $18 per user/month
  • Aug 03, 2022
Compare Tradogram Vs. DXC Procurement

Tradogram is a cloud-hosted procurement management solution built for small to large enterprises. It has sales and purchase order management, project management, delivery tracking, contract management, budget tracking, strategic sourcing, and more features which allow companies to streamline their e...


34. Bideg

  • Best for: Small businesses and start ups
  • Price: starts at $100 per license
  • Aug 06, 2022
Compare Bideg Vs. DXC Procurement

Bideg is an auction software designed to help businesses reduce the cost of e-bidding events. The software also allows businesses to find, source, and qualify suppliers. Suppliers are eligible to download technical documents; feedbacks can be offered to buyers, and users can also search and invite n...


35. Zoey

  • Best for: Small, medium and large size businesses
  • Price: starts at $299 per month
  • Sep 07, 2022
Compare Zoey Vs. DXC Procurement

Zoey is an order fulfillment software designed to help businesses take orders online remotely. The mobile app allows users to look up product details and customer-specific pricing, and they can create quotes and orders remotely.


36. Blendzi

  • Best for: Small, medium and large size businesses
  • Price: starts at $39 per month
  • Sep 13, 2022
Compare Blendzi Vs. DXC Procurement

Blendzi is a cloud-enabled order management software solution that aids companies in selling their products via multiple e-commerce platforms. It syncs inventories in real-time with accounting systems such as QuickBooks and provides real-time inventory data for selling products on different online m...


37. Claritum

  • Best for: Small, medium and large size businesses
  • Price:
  • Sep 21, 2022
Compare Claritum Vs. DXC Procurement

Claritum is a web based supply chain management solution for businesses of all sizes. It offers such capabilities as inventory management, order management, supplier management, and others. The software was designed and launched by Claritum Limited headquartered in the United Kingdom.


38. NextProcess

  • Best for: Small, medium and large size businesses
  • Price:
  • Sep 29, 2022
Compare NextProcess Vs. DXC Procurement

Next Process is an account handling and finance handling software that can be used by the medical practices. It can be used by industries in any sector. Medical facilities may also utilize it to handle their finance department.


39. Asentex Contract Management

  • Best for: Small, medium and large size businesses
  • Price:
  • Sep 20, 2022
Compare Asentex Contract Management Vs. DXC Procurement

Asentex Contract Management is a web based contract management solution for businesses of all sizes. Its main functionalities include auditing and reporting, negotiation management, approvals, and others. The software was designed and launched by Asentex Inc headquartered in California, ...


40. Conga Novatus Contract Management Software

  • Best for: Small, medium and large size businesses
  • Price: starts at $55 per user/month
  • Sep 29, 2022
Compare Conga Novatus Contract Management Software Vs. DXC Procurement

Conga Novatus Contract Management Software is a growing cloud-based Contract Management software, it is designed to support small, medium and large size business. Conga Novatus Contract Management Software received a rating of 4.6 from ITQlick team. The software cost is considered affordable (2.2/5...


41. SMART by GEP

  • Best for: Medium and large size businesses
  • Price:
  • Oct 07, 2022
Compare SMART by GEP Vs. DXC Procurement

SMART by GEP is a web based supply chain management solution for businesses of all sizes. It offers such services as sourcing and procurement, supplier management, contract management, and others. The software was designed and launched by GEP headquartered in New Jersey, United States.


42. CIS Configurator

  • Best for: Small, medium and large size businesses
  • Price: starts at $70 per month
  • Feb 03, 2022
Compare CIS Configurator Vs. DXC Procurement

CIS Configurator is a leading cloud-based Manufacturing software, it is designed to support small, medium and large size business. CIS Configurator received a rating of 4.7 from ITQlick team. The software cost is considered affordable (2/5) when compared to alternative solutions.


43. Turbine

  • Best for: Small business, Medium business, Large business, Private use
  • Price: starts at $21.18 per company/month
  • Oct 01, 2022
Compare Turbine Vs. DXC Procurement

Turbine is a web based purchase order management solution for businesses of all sizes. It also offers such capabilities as expense management, employee database management, invoicing, and others. The software was designed and launched by Turbine headquartered in London, United Kingdom.


44. GovWin from Deltek

  • Best for: Start up, Small business, Medium business, Large business
  • Price: starts at $6,000 per user/year
  • Oct 01, 2022
Compare GovWin from Deltek Vs. DXC Procurement

GovWin IQ is cloud-based marketing research, and intelligence solution that is designed for government contractors find, manage and win U.S. federal, local government, state and educational institutions businesses.


45. Selectica CLM

  • Best for: Large business
  • Price:
  • Oct 01, 2022
Compare Selectica CLM Vs. DXC Procurement

Selectica CLM is a contract lifecycle management solution for businesses of all sizes. It helps in such aspects as contract approvals, auditing and reporting, authoring, negotiations, and others. The software was designed and launched by Selectica Inc headquartered in California, United ...


46. Verenia CPQ

  • Best for: Small, medium and large size businesses
  • Price:
  • Mar 28, 2022
Compare Verenia CPQ Vs. DXC Procurement

Verenia CPQ is a fast growing cloud-based Configure Price Quote software, it is designed to support small, medium and large size business. Verenia CPQ received a rating of 4.7 from ITQlick team. The software cost is considered average (3.5/5) when compared to other solutions in their category.


47. eRep

  • Best for: Small, medium and large size businesses
  • Price: starts at $49 per user/month
  • Oct 03, 2022
Compare eRep Vs. DXC Procurement

eRep is a trending cloud-based Configure Price Quote software, it is designed to support small, medium and large size business. eRep received a rating of 4.4 from ITQlick team. The software cost is considered affordable (1.9/5) when compared to alternative solutions.


48. Infor CPQ

  • Best for: Medium and large size businesses
  • Price:
  • Jan 09, 2022
Compare Infor CPQ Vs. DXC Procurement

Infor CPQ is a growing cloud-based Configure Price Quote software, it is designed to support medium and large size business. Infor CPQ received a rating of 3.7 from ITQlick team. The software cost is considered affordable (2/5) when compared to alternative solutions.


49. SalesPad

  • Best for: SMBs
  • Price: starts at $55 per user/year
  • Feb 03, 2022
Compare SalesPad Vs. DXC Procurement

SalesPad is a growing cloud-based Inventory Management software, it is designed to support small and medium size business. SalesPad received a rating of 2.5 from ITQlick team. The software cost is considered affordable (1.5/5) when compared to alternative solutions.


50. erplain

  • Best for: Small businesses and start ups
  • Price: starts at $49 per month
  • Apr 10, 2022
Compare erplain Vs. DXC Procurement

erplain is an award-winning cloud-based Billing-Invoicing software, it is designed to support small and medium size business. erplain received a rating of 4.8 from ITQlick team. The software cost is considered affordable (1.1/5) when compared to alternative solutions.


51. Perenso

  • Best for: Medium and large size businesses
  • Price: starts at $180 per license
  • Apr 08, 2022
Compare Perenso Vs. DXC Procurement

Perenso is a leads management and sales force automation solution for businesses of all sizes. It offers such services as back order management, order fulfillment, remote order entry, and others. The software was designed and launched by Perenso headquartered in Sydney, Australia.


52. Ensolva

  • Best for: Small, medium and large size businesses
  • Price:
  • Feb 03, 2022
Compare Ensolva Vs. DXC Procurement

Ensolva is a trending cloud-based Supply Chain software, it is designed to support small, medium and large size business. Ensolva received a rating of 4 from ITQlick team. The software cost is considered affordable (1.2/5) when compared to alternative solutions.


53. BuyerQuest

  • Best for: Small, medium and large size businesses
  • Price:
  • Feb 09, 2022
Compare BuyerQuest Vs. DXC Procurement

BuyerQuest is a growing cloud-based Procurement software, it is designed to support small, medium and large size business. BuyerQuest received a rating of 3.2 from ITQlick team. The software cost is considered affordable (2.1/5) when compared to alternative solutions.


54. TMW Transportation Management Software

  • Best for: Small, medium and large size businesses
  • Price:
  • Feb 11, 2022
Compare TMW Transportation Management Software Vs. DXC Procurement

TMW Transportation Management Software is a trending cloud-based Contract Management software, it is designed to support small, medium and large size business. TMW Transportation Management Software received a rating of 3.8 from ITQlick team. The software cost is considered affordable (2.5/5) when ...



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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2022 best Procurement Software | ITQlick.com

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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.