Top 54 Purchasing Management Software (Dec 2022)

2023's Best 55 Purchasing Management Systems

Shlomi LaviShlomi Lavi / Dec 29, 2022

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1. FTMaintenance

  • Best for: SMBs
  • Price: starts at $40 per month
  • Dec 29, 2022
Compare FTMaintenance Vs. FTMaintenance

FTMaintenance is a maintenance management software solution that automates manual tasks and supervises the assets. The software was designed by FasTrak SoftWorks, Inc., headquartered in Wisconsin, United States. The software works to reduce the downtime and improve the lifetime of equipment. 


2. Xero

  • Best for: Small businesses and start ups
  • Price: starts at $12 per month
  • Mar 09, 2022
Compare Xero Vs. FTMaintenance

Xero is a cloud-based accounting and finance software for small, start-up, and growing enterprises. It has invoice management, purchasing, bank reconciliation, and bookkeeping features which help businesses boost their cash flow.


3. Hippo CMMS

  • Best for: Small, medium and large size businesses
  • Price: starts at $35 per user/month
  • Mar 10, 2022
Compare Hippo CMMS Vs. FTMaintenance

Hippo CMMS software is a cloud-based CMMS, maintenance, and building maintenance management solution designed for businesses of all sizes. Some of its key features include work-order software, preventive maintenance, equipment maintenance, and facility and inventory management solutions.


4. MIR-RT

  • Best for: SMBs
  • Price: starts at $5,000 per license
  • Mar 12, 2022
Compare MIR-RT Vs. FTMaintenance

MIR-RT software is an on-premises fleet management software that helps businesses to schedule and manage all preventive maintenance tasks for vehicles in their fleet. The software allows the user to capture, share, as well as analyze all data through a single centralized system.


5. eMaint CMMS

  • Best for: Small, medium and large size businesses
  • Price: starts at $33 per user/month
  • Mar 12, 2022
Compare eMaint CMMS Vs. FTMaintenance

eMaint CMMS is a cloud-based, computerized maintenance management software solution. It is built to assist businesses globally to manage their enterprise assets, track inventory, streamline workflows, and schedule preventive & predictive maintenance.


6. Visual EstiTrack ERP

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

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


7. SkuVault Software

  • Best for: Small businesses and start ups
  • Price: starts at $299 per 2 users/month
  • Mar 20, 2022
Compare SkuVault Software Vs. FTMaintenance

SkuVault is an inventory management software designed to make the process of selling, picking, and shipping faster.


8. Infoplus Software

  • Best for: SMBs
  • Price: starts at $695 per month
  • Mar 22, 2022
Compare Infoplus Software Vs. FTMaintenance

Infoplus software is a cloud-based distribution software that enables managers to automate their organizations crucial warehouse operations, as well as curating actionable data such as key alerts, reports, and user-defined metrics.


9. VisionCore

  • Best for: SMBs
  • Price: starts at $4,999 per license
  • Mar 03, 2022
Compare VisionCore Vs. FTMaintenance

VisionCore is a cloud-based accounting and financial management software built for small to large companies. It provides billing and invoicing, bank reconciliation, payroll management, fixed asset management, financial management, core accounting, CRM and more features.


10. BDM Software Suite

  • Best for: Small, medium and large size businesses
  • Price:
  • May 06, 2022
Compare BDM Software Suite Vs. FTMaintenance

For over 40 years the team at BDM IT Solutions Inc. has been trusted by North America’s leading healthcare institutions, including hospitals, correctional facilities, long term care centers and pharmacies, to develop and implement innovative tools that enhance the delivery of patient care.


Pricing Guide - Purchasing Management Software:

Medical Software Price Range

Small and midsize practices can expect to pay around $500 per month for an EMR subscription. There are some free solutions, of course, that simply don’t get the job done, and others that charge $1,000+ per month. Major healthcare organizations are paying between $10,000 to $100,000 per month on this type of software.

  • EHR Software: can cost between $99 to $999+ per provider per month. For example, e-MDs Chart starts at $399 per month, eClinicalWorks is $499 per month, and Intelligent Medical Software starts at $199 per month. Praxis Electronic Medical Records pricing is $259 per month, and Practice Fusion is offered for free but it’s not recommended for every type of practice.
  • Medical Billing Software: $99 – $1,000+ per provider per month - In addition some vendors charge a percentage of the collections (between 2% to 10%). A few examples include: PrognoCIS costs $250 per month, NueMd is $150 per month, and Kareo charges 4%-9% of the collections.
  • Appointment Scheduling Software: $9 – $299 per month, depending on how many users need a license. BookSteam starts at $19.95 per month per user, SimplyBook.me offers a free version, and it offers another plan starting at $10 per month.
  • Medical Practice Management Software: $9.99 – $149 per month; vCita starts at $12 per month and Caspio at $99 per month - Caspio also offers a free version.
  • Patient Portals: $9.99 to $149.00 per month; TeamDesk costs $49 per month, and Solutionreach pricing starts at $299 per month.
  • Online Reputation Software: Pricing ranges between $199 to $4999. RemoveYourName starting at $3,000 and Integrity Defenders at $630.
  • Chiropractic Software: Pricing ranges between $49 to $999+. vCita starts at $12 per month and Intelligent Medical Software price starts at $199 per month.

11. NetSuite Financials

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

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...


12. Compiere

  • Best for: SMBs
  • Price: starts at $995 per user/year
  • Jun 01, 2022
Compare Compiere Vs. FTMaintenance

Compiere is an online ERP and CRM software for businesses, non-profits, and government agencies. It provides them with tools for managing their finance and sales, granting access to customize the solutions that fit their businesses.


13. Passport Business Solutions

  • Best for: Small, medium and large size businesses
  • Price: starts at $995 per license
  • Jun 02, 2022
Compare Passport Business Solutions Vs. FTMaintenance

Passport Business Solutions (PBS) is an accounting software that helps increase business profitability. This software provides entry-level solutions and enables companies to structure a system that is peculiar to their needs.


14. Precoro

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

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


15. Azzier CMMS

  • Best for: Large business
  • Price:
  • Aug 25, 2022
Compare Azzier CMMS Vs. FTMaintenance

Azzier CMMS is cloud-based customer maintenance and management solution which is developed for use in all types of businesses. The maintenance management solution can be implemented in various industries including Industrial manufacturing, Oil & Gas, Utilities, Government, Hospitality, Education and...


16. Infor ERP

  • Best for: Small, medium and large size businesses
  • Price: starts at $5 per month
  • Sep 12, 2022
Compare Infor ERP Vs. FTMaintenance

Infor ERP is an enterprise management solution system developed by Infor to provide assistance to industry-specific companies in managing their operational functions including standard ones like Finance and Manufacturing.  Headquartered in New York, Infor is a U.S. based company that specialises in...


17. Orderhive

  • Best for: Small businesses and start ups
  • Price: starts at $95 per month
  • Oct 17, 2022
Compare Orderhive Vs. FTMaintenance

Orderhive is a web based order and inventory management solution for businesses of all sizes. It offers such capabilities as 3PL inventory tracking, back order management, custom reporting, and others. The software was designed and launched by OpenXcell Technologies Pvt Ltd headquartered...


18. Logiwa

  • Best for: Small, medium and large size businesses
  • Price: starts at $300 per license
  • Apr 30, 2022
Compare Logiwa Vs. FTMaintenance

Logiwa is a warehouse management software designed to improve warehouse operations for online sellers, distributors, and 3PLs.


19. Bellwether Purchasing Software

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

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.


20. HandiFox Inventory

  • Best for: Small businesses and start ups
  • Price: starts at $39 per month
  • May 14, 2022
Compare HandiFox Inventory Vs. FTMaintenance

Handifox Inventory software is a cloud-based and on-premise mobile inventory control system built for small-midsize businesses that are inventory-based. The solution is also available on Android devices and supports Windows 7, Windows XP, Windows 8, Windows 2000, Windows Vista, and Windows 10 operat...


21. AdminiCare

  • Best for: Small businesses and start ups
  • Price: starts at $199 per license
  • May 16, 2022
Compare AdminiCare Vs. FTMaintenance

AdminiCare is an assisted living software designed as a medical inventory system to provide a by-resident cost and inventory control.


22. simPRO Enterprise

  • Best for: SMBs
  • Price: starts at $129 per license
  • Apr 28, 2022
Compare simPRO Enterprise Vs. FTMaintenance

simPRO Enterprise is a web based field service management solution for businesses of all sizes. It offers such capabilities as call center management, billing and invoicing, electronic signature, and others. The software was designed and launched by The simPRO Group Ltd headquartered in Australia. ...


23. SDS4 Distribution

  • Best for: Small businesses and start ups
  • Price: starts at $1,295 per license
  • May 14, 2022
Compare SDS4 Distribution Vs. FTMaintenance

SDS4 Distribution is a program that offers complete solution to the various processes involved in companies under the industry of aerospace and electronic component distribution. It automates processes from accounting to inventory making everything quicker, simpler, and real-time. It can be implemen...


24. NexusPayables

  • Best for: Small, medium and large size businesses
  • Price: starts at $750 per year
  • Apr 30, 2022
Compare NexusPayables Vs. FTMaintenance

NexusPayables is a SaaS-based Accounting & Finance software designed for real estate firms to automate their invoicing and purchasing processes.


25. iMaint

  • Best for: Medium and large size businesses
  • Price: starts at $60 per user/month
  • Apr 27, 2022
Compare iMaint Vs. FTMaintenance

IMaint provides maintenance management solutions. The software focuses on resolving critical maintenance challenges for organizations by developing effective preventive maintenance systems that will maximize a company’s Return on Investment (ROI). The developer of IMaint is DPSI and the company w...


26. 3rdWave

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

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.


27. BusinessMan CRM/ERP

  • Best for: Small businesses and start ups
  • Price: starts at $59 per user/month
  • May 23, 2022
Compare BusinessMan CRM/ERP Vs. FTMaintenance

BusinessMan CRM/ERP is a cloud and premise-based business management software that helps users to monitor and manage their enterprises; it can be customized to meet the needs of the company. The features in this software make it possible for users to track orders, view sales reports, create tasks et...


28. bcFood

  • Best for: Small, medium and large size businesses
  • Price:
  • May 17, 2022
Compare bcFood Vs. FTMaintenance

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...


29. CloudBooks

  • Best for: Small businesses and start ups
  • Price: starts at $3.99 per month
  • May 21, 2022
Compare CloudBooks Vs. FTMaintenance

Cloudbook is an invoicing software for freelancers and businesses to create customizable invoices, automate payment reminders, track expenses and time, and accept payments.


30. Guide TI

  • Best for: Medium and large size businesses
  • Price: starts at $4,000 per license
  • May 18, 2022
Compare Guide TI Vs. FTMaintenance

Guide TI is enterprise asset maintenance and management software for your business. It incorporates the important aspects of asset, customer and inventory management. The software was launched by COGEP Inc., which is located in Quebec, Canada. The software aims at efficient planning and the use of a...


31. Fracttal

  • Best for: Small, medium and large size businesses
  • Price: starts at $255 per month
  • Jun 15, 2022
Compare Fracttal Vs. FTMaintenance

Fracttal is a maintenance software that helps companies keep records of all their assets, facilities, vendors, historical data, and related information.


32. Accolent ERP

  • Best for: Small businesses and start ups
  • Price: starts at $2,500 per license
  • May 25, 2022
Compare Accolent ERP Vs. FTMaintenance

Accolent ERP is an enterprise resource planning solution for small and medium businesses. It offers assistance in wholesale distribution management along with inventory and purchasing management capabilities. The software was developed and launched by ADS Solutions Corporation headquarte...


33. ShelbyNext: Financials

  • Best for: Small, medium and large size businesses
  • Price: starts at $29 per user/month
  • May 29, 2022
Compare ShelbyNext: Financials Vs. FTMaintenance

ShelbyNext Financials is a cloud-based non-profit software designed to help faith ministries manage their operations and funds from one system.


34. Accounting Seed

  • Best for: Small businesses and start ups
  • Price: starts at $25 per user/month
  • May 29, 2022
Compare Accounting Seed Vs. FTMaintenance

Accounting Seed is an accounting solutions software for businesses to help control their financial management, increase data visibility, gauge the financial health of their clients account, and provide quotes for clients.


35. ERP123

  • Best for: Small businesses and start ups
  • Price: starts at $150 per month
  • Jun 16, 2022
Compare ERP123 Vs. FTMaintenance

ERP123 is an enterprise resource planning software that is ready to offer the “optimum business solution” for your company. The software comes with an innovative approach which can reduce cost and risk by providing flexible and easy-to-use solutions. The software is based on a latest technology with...


36. b-pack

  • Best for: Small, medium and large size businesses
  • Price:
  • Dec 16, 2022
Compare b-pack Vs. FTMaintenance

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, ...


37. SR2Software

  • Best for: Small businesses and start ups
  • Price: starts at $1,200 per license
  • Jun 18, 2022
Compare SR2Software Vs. FTMaintenance

SR2Software is a food service distribution solution for small and medium businesses. It offers such services as order management, lot control and tracking, barcode scanning, and others. The software was designed and launched by SR2 Software headquartered in Rhode Island, United States.


38. FlexRFP

  • Best for: Small, medium and large size businesses
  • Price: starts at $3,000 per month
  • Jun 16, 2022
Compare FlexRFP Vs. FTMaintenance

FlexRFP is a web-based supply chain management software that can make the complex strategic sourcing look easier and also he you to save time. No matter how bad the e-sourcing solution or combination of emails and spreadsheets you are using, FlexRFP can always be there to offer a complete solution. ...


39. Enterprise 21

  • Best for: SMBs
  • Price: starts at $3,500 per license
  • Jun 16, 2022
Compare Enterprise 21 Vs. FTMaintenance

Enterprise 21 is a cloud-based enterprise resource planning that is developed to be used by individuals as well as by businesses that are either in the manufacturing businesses or that are doing distribution work.


40. Cumulus Retail

  • Best for: Small, medium and large size businesses
  • Price: starts at $125 per month
  • Jun 22, 2022
Compare Cumulus Retail Vs. FTMaintenance

Cumulus Retail is a retail commerce software that provides retailers with a point of sale system, manages products and customers, track real-time sales, and manages store and website inventory.


41. entree ERP

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

...


42. SimpleBuild Software

  • Best for: Medium business
  • Price: starts at $50 per month
  • Jul 07, 2022
Compare SimpleBuild Software Vs. FTMaintenance

SimpleBuild is a construction management software that helps home builders and remodelers to achieve timely project completion. The software is responsible for guiding users through the building process while keeping related documents safe and accessible.


43. ManWinWin Software

  • Best for: Small, medium and large size businesses
  • Price: starts at $599 per license
  • Jul 06, 2022
Compare ManWinWin Software Vs. FTMaintenance

ManWinWin Software is a maintenance management solution for businesses of all sizes. It offers such capabilities as calibration management, preventive maintenance, work order management, and others. The software was designed and launched by MainWinWin Software headquartered in Portugal.


44. ApparelMagic

  • Best for: Small, medium and large size businesses
  • Price: starts at $120 per month
  • Apr 04, 2022
Compare ApparelMagic Vs. FTMaintenance

ApparelMagic is an apparel management software developed to boost fashion businesses sales volume. The software monitors ongoing costs from shipping costs to labour expenses automatically.


45. Deltek Maconomy

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

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


46. QStrat QLM Sourcing

  • Best for: Small, medium and large size businesses
  • Price:
  • Jul 06, 2022
Compare QStrat QLM Sourcing Vs. FTMaintenance

QLM Sourcing is a supply chain management solution for businesses of all sizes. It offers contact management, quotation management, RFQ management, and other capabilities. The software was designed and launched by QStart Inc headquartered in Ontario, Canada.


47. eBuyerAssist

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

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.


48. Hexoss

  • Best for: Small businesses and start ups
  • Price: starts at $169 per month
  • Mar 31, 2022
Compare Hexoss Vs. FTMaintenance

Hexoss is an inventory management software built to provide companies with tools to increase visibility and control across multiple warehouses. Hexoss improves shopping experiences and manages customers to streamline processes, thereby creating a paperless working environment.


49. Puridiom eProcurement Suite

  • Best for: Medium and large size businesses
  • Price:
  • Jul 04, 2022
Compare Puridiom eProcurement Suite Vs. FTMaintenance

Puridiom is a supply chain management software that offers a complete eProcurement solution that actually works. Different companies of different sizes can use this tool to automate purchasing process, monitor purchasing trends and analyze all the valuable data. This complete eProcurement solution m...


50. WebDPW

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

WebDPW™ is web-based, so you can manage your organization any place you have internet access. Google Maps are incorporated into the package, so you can better organize your projects, employees and travel time. Spend less time managing your organization and more time improving it with WebDPW™ Work Or...


51. CrunchTime!

  • Best for: Small, medium and large size businesses
  • Price:
  • Jul 14, 2022
Compare CrunchTime! Vs. FTMaintenance

CrunchTime! is a retail & POS software designed as a restaurant management platform from which businesses can handle back-office issues associated with labor scheduling, vendor supply chain, and inventory management.


52. Infor WMS

  • Best for: Medium and large size businesses
  • Price:
  • May 15, 2022
Compare Infor WMS Vs. FTMaintenance

Infor WMS is a supply chain management software that helps businesses drive excellence in warehouse operations. Businesses can leverage the system 3D visual analysis, labor management, and warehouse solution to gain visibility into their inventory, equipment, orders, and working team.


53. WithoutWire

  • Best for: Small, medium and large size businesses
  • Price: starts at $85 per user/month
  • Mar 10, 2022
Compare WithoutWire Vs. FTMaintenance

WithoutWire is a warehouse management software designed to help businesses automate inventory processes, engage employees, and drive efficiency in their supply chain.


54. EZmaintain

  • Best for: Small, medium and large size businesses
  • Price: starts at $49.99 per month
  • Jul 13, 2022
Compare EZmaintain Vs. FTMaintenance

EZmaintain is a computerized maintenance management software (CMMS) built to track health Asset conditions, create schedules, organize work orders, monitor and manage fleets, scaling, and managing municipal locations.



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. 

ITQlick chart - 2023 best Purchasing Management Software

2023 best Purchasing Management Software | ITQlick.com

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Auditor - 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.