Top 65 Remittance Advice Software

TOP 65 Remittance Advice Software

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1. AllegianceMD

  • Best for: SMBs
  • Price: starts at $400 per provider/month
  • Mar 09, 2022
Compare AllegianceMD Vs. AllegianceMD

AllegianceMD is a cloud-based medical software that is designed to serve small and midsize practices. The solution offers a number of features that include prescribing of medications for patients that enables users to check if a proposed prescription has possible side effects.


2. CareCloud Charts

  • Best for: Medium and large size businesses
  • Price: starts at $349 per provider/month
  • Mar 10, 2022
Compare CareCloud Charts Vs. AllegianceMD

CareCloud is a cloud-based electronic health records solution designed for medical practices of all sizes. The solution enables the user to get all the tools that they need to deliver better medical patient care.


3. RXNT hospice

  • Best for: Small, medium and large size businesses
  • Price: starts at $65 per month
  • Mar 11, 2022
Compare RXNT hospice Vs. AllegianceMD

RXNT hospice is a cloud-based medical billing solution that is designed for use in hospitals and clinics of all sizes. The solution is also distributed as a suite combining all the necessary features that are required in a medical and healthcare setup


4. ChartLogic

  • Best for: Small, medium and large size businesses
  • Price:
  • Mar 12, 2022
Compare ChartLogic Vs. AllegianceMD

ChartLogic is a cloud and on-premise electronic medical record suite that incorporates practice management, e-prescribing, EMR, revenue cycle management, and patient portal. It a solution that is designed to cater to small and medium hospitals and clinics.


5. DrsMagic

  • Best for: SMBs
  • Price: starts at $80 per month
  • Feb 17, 2022
Compare DrsMagic Vs. AllegianceMD

DrsMagic is a Web-based Electronic Medical Record & Medical Billing software solution that offers a wide range of billing needs including CMS 1500, 2006 ADA Dental form and more. The software is offered in two versions namely; DrsMagic Lite and Pro. Single Station versions are for installation on a...


6. Medical Billing Assistant

  • Best for: SMBs
  • Price: starts at $14.89 per license
  • Jan 31, 2022
Compare Medical Billing Assistant Vs. AllegianceMD

Medical Billing Assistant software is an on-premise Windows-based medical billing, & practice management solution that also includes office management tools. Medical Billing Assistant (MBA) is founded on the Microsoft SQL Server technology as well as being 100% HIPAA compliant.


7. DocuTAP EMR & PM

  • Best for: Small, medium and large size businesses
  • Price:
  • Mar 19, 2022
Compare DocuTAP EMR & PM Vs. AllegianceMD

DocuTAP EMR & PM is a cloud-based electronic health records solution that can be used as a practice management solution suitable for all disciplines in the medical and healthcare industry. The solution allows most of the physicians to reduce the workload they have filling in documents and writing re...


8. Essential RCM

  • Best for: Medium and large size businesses
  • Price: starts at $149 per feature/month
  • Apr 27, 2022
Compare Essential RCM Vs. AllegianceMD

Essential RCM is medical billing software solution medium to large health care providers. Its ultimate goal is to help doctors, laboratories, and hospitals avoid not getting paid. Its key features include billing, collection, and claims management.


9. TheraNest

  • Best for: Small businesses and start ups
  • Price: starts at $39 per month
  • Mar 01, 2022
Compare TheraNest Vs. AllegianceMD

TheraNest is a HIPAA compliant web-based mental health software that is designed for use by solo practitioners, large mental health practices, and nonprofit organizations.


10. care360

  • Best for: SMBs
  • Price: starts at $55 per license
  • Jun 01, 2022
Compare care360 Vs. AllegianceMD

Quanum electronic health record is a comprehensive, fully-mobile and secure solution that helps keep medical practices efficient and profitable. The solution offers a number of features that include patient flow that medical staff to document all patients encounter and track facility movement while ...


11. Claim Manager

  • Best for: Small businesses and start ups
  • Price: starts at $23.25 per month
  • Jun 17, 2022
Compare Claim Manager Vs. AllegianceMD

Claim manager is cloud-based medical billing software that can be used by nurses, health care services and doctors in Canada and British Columbia. Practitioners in all medical fields from small or house practices, medium-sized practices, and major practices such as surgery can use claim manager.


12. bflow Solutions

  • Best for: SMBs
  • Price: starts at $350 per user/month
  • Jul 08, 2022
Compare bflow Solutions Vs. AllegianceMD

BFlow Solutions is a cloud-based medical billing solution for healthcare facilities such as sleep labs, Durable Medical Equipment, homecare business, and so on. With the automated claim management as well as billing feature enables the software to simplify the practice operations with the multi-chan...


13. TherapyNotes

  • Best for: SMBs
  • Price: starts at $49 per user/month
  • Apr 13, 2022
Compare TherapyNotes Vs. AllegianceMD

TherapyNotes is a cloud-based electronic health record solution also used a medical billing solution. The solution can be used in all non-medical practices in the hospitals as well as the medical practice.


14. NueMD

  • Best for: SMBs
  • Price: starts at $149 per user/month
  • Apr 23, 2022
Compare NueMD Vs. AllegianceMD

NueMD is a cloud-based electronic health record solution that can be used as a medical billing solution and is designed for use in hospitals and clinics of all sizes.


15. AZZLY Rize

  • Best for: Small, medium and large size businesses
  • Price:
  • May 16, 2022
Compare AZZLY Rize Vs. AllegianceMD

AZZLY Rize is a mental health software designed for medical facilities to create a workflow and deliver patient care. Being an addiction treatment and behavioral healthcare solution, AZZLY Rize streamlines clinical and medical processes from the point of intake to discharge and filing claims.


16. ClinicMind

  • Best for: Small businesses and start ups
  • Price: starts at $149 per month
  • Apr 28, 2022
Compare ClinicMind Vs. AllegianceMD

ClinicMind is a cloud-based electronic health record solution that is designed to be used as a practice management solution in hospitals and clinics of all sizes. The solution can be used in various disciplines of the medical and healthcare industry including ambulatory services, inpatient services,...


17. EZClaim

  • Best for: SMBs
  • Price: starts at $149 per month
  • May 19, 2022
Compare EZClaim Vs. AllegianceMD

EZClaim is a web based medical billing solution for medical practices of all sizes. It offers such capabilities as claims management, patient payment history, remittance advice, and others. The software was designed and launched by EZClaim headquartered in Michigan, United States.


18. Intelligent Medical Software (IMS) by Meditab

  • Best for: Small, medium and large size businesses
  • Price: starts at $199 per provider/month
  • May 16, 2022
Compare Intelligent Medical Software (IMS) by Meditab Vs. AllegianceMD

Intelligent Medical Software is a hybrid integrated Electronic Health Records and Practice Management solution that includes applications for e-prescribing, practice reporting, patient portal, and communication tools.


19. Healthpac

  • Best for: Small, medium and large size businesses
  • Price: starts at $275 per user/month
  • May 29, 2022
Compare Healthpac Vs. AllegianceMD

HPlusPro is a cloud-based medical billing solution that is developed to be used in clinics and hospitals of all sizes. the solution is hugely involved in taking care of the collected patient data and uses the data to help improve the patients experience once they visit the physicians.


20. MedClarity Platform

  • Best for: SMBs
  • Price:
  • Jun 18, 2022
Compare MedClarity Platform Vs. AllegianceMD

MedClarity Platform is cloud-based medical billing software that can also be used as an electronic health record solution suitable for use in health facilities of all sizes. The solution is easy to sue for most of the users yet a very powerful tool that can help make billing work easy in any hospita...


21. bestPTsystem

  • Best for: SMBs
  • Price:
  • Jun 18, 2022
Compare bestPTsystem Vs. AllegianceMD

bestPT is a web-based EHR and practice management solution designed for physical therapy clinics and practice of all sizes. It has a number of features including a physical therapy office billing solution that allows users to process and collect payments faster.


22. Practice Management ULTRA

  • Best for: Small businesses and start ups
  • Price:
  • Jun 17, 2022
Compare Practice Management ULTRA Vs. AllegianceMD

Practice Management ULTRA is a cloud-hosted medical system created to help manage operations of solo health practices with a one workstation and the enterprise-level clinics with multiple sites and specialties.


23. WRS Health

  • Best for: SMBs
  • Price: starts at $299 per user/month
  • Jun 24, 2022
Compare WRS Health Vs. AllegianceMD

WRS Health software an integrated, cloud-based EHR (electronic health records), practice management, billing, and revenue cycle management system. The platform is built to help medical practices and specialties to achieve their full potential.


24. Waystar Revenue Cycle Technology

  • Best for: Small, medium and large size businesses
  • Price: starts at $100 per user/month
  • Jul 02, 2022
Compare Waystar Revenue Cycle Technology Vs. AllegianceMD

Waystar is a cloud-based health software that helps healthcare systems to manage their administrative as well as clinical processes. The software uses its algorithms to predict claim denials as well as revenue leakages; upon the prediction of these claim denials, it automatically sends workable deni...


25. CollaborateMD

  • Best for: SMBs
  • Price: starts at $194 per month
  • Jul 05, 2022
Compare CollaborateMD Vs. AllegianceMD

CollaborateMD is a cloud-based practice management system that is developed to be used in all types of mental health care practices. these practices can include occupational therapy, behavioral therapy, speech therapy, and physical therapy among others.


26. PracticeStudio

  • Best for: SMBs
  • Price:
  • Jul 05, 2022
Compare PracticeStudio Vs. AllegianceMD

PracticeStudio is an on-premise electronic health record solution that has its place in all the various disciplines that are available in the medical and health care industry. The solution has a wide range of use from cardiology, chiropractic, dermatology, family practices, internal medicine as well...


27. Harmony e/Notes

  • Best for: Small, medium and large size businesses
  • Price: starts at $1,500 per month
  • Jul 05, 2022
Compare Harmony e/Notes Vs. AllegianceMD

Harmony e/Notes is both a cloud-based as well as an on-premise solution that is developed to help the mental health practitioners to ease their work. The solution works as a practice management solution and helps to reduce some of the repetitive tasks in mental health clinics such as registration an...


28. Net Health Therapy Suite

  • Best for: Small, medium and large size businesses
  • Price:
  • May 18, 2022
Compare Net Health Therapy Suite Vs. AllegianceMD

Net Health Therapy Suite is a medical software designed to help therapists improve patient care and outcome. It does this by offering customizable workflows and tools that help maximize staff productivity and efficiency.


29. CharmHealth

  • Best for: Small, medium and large size businesses
  • Price: starts at $350 per provider/month
  • Feb 22, 2022
Compare CharmHealth Vs. AllegianceMD

Cloud based online electronic health records (EHR) systems that allows you to create, manage patient records easily and securely using just your browser.


30. Lightning MD

  • Best for: Small, medium and large size businesses
  • Price: starts at $49 per license
  • Feb 21, 2022
Compare Lightning MD Vs. AllegianceMD

Much more than medical billing, Lightning MD Practice Management is the ideal, fastest and most convenient RCM and scheduling solution for any practice.


31. Quest Diagnostics

  • Best for: SMBs
  • Price: Has a free version
  • Feb 23, 2022
Compare Quest Diagnostics Vs. AllegianceMD

Helping healthcare organizations improve the efficiency of care delivery with technology that connects data to decision-making in tangible, value-creating ways.


32. ViSolve Medical Billing Software

  • Best for: SMBs
  • Price: starts at $99 per user/month
  • Jul 24, 2022
Compare ViSolve Medical Billing Software Vs. AllegianceMD

ViSolve Medical Billing is a cloud-based medical billing software which increases the speed at which the payments are made to the physicians. With the solution, the hospital finance people can check whether the insurances of the patients are in good condition to pay any pending bills and this saves ...


33. PatientClick Suite Software

  • Best for: SMBs
  • Price:
  • Jul 31, 2022
Compare PatientClick Suite Software Vs. AllegianceMD

PatientClick Suite is a cloud-based medical suite which offers users solutions that aid in managing both administrative workflows and patient care. The solution has a number of features including a patient portal which can be used to schedule appointments or request a prescription refill.


34. MedOffice

  • Best for: Small, medium and large size businesses
  • Price: starts at $2,495 per license
  • Mar 19, 2022
Compare MedOffice Vs. AllegianceMD

MedOffice is a cloud-based as well as an on-premise medical billing software that is developed to be used in all types of hospitals and clinics. The solution can also be used in billing companies and has a wide reach of all medical disciplines taking care of such as therapy, long term care, general ...


35. Azalea

  • Best for: SMBs
  • Price:
  • Mar 10, 2022
Compare Azalea Vs. AllegianceMD

Azalea Health is a cloud-based HIPAA compliant, and ONC certified electronic health record solution designed for practices of all sizes. The solution core features include revenue cycle management, practice management, telehealth and EHR and more.


36. Clinicaid

  • Best for: Small, medium and large size businesses
  • Price: starts at $13 per month
  • Apr 20, 2022
Compare Clinicaid Vs. AllegianceMD

Clinicaid is a cloud-based medical billing and practice management software. The software is accessible from any internet enabled device, from anywhere. Clincaid has a user-friendly interface and some of the key features include batch billing, invoice templates, claims management, practice managemen...


37. Iridium Suite

  • Best for: SMBs
  • Price: starts at $425 per month
  • Feb 19, 2022
Compare Iridium Suite Vs. AllegianceMD

Iridium Suite is a cloud-based medical billing solution that is developed to be used in billing companies, hospitals, and clinics of all sizes. the solution is developed with all features integrated and makes sure that all the work is done in the solution and receipts are produced by the solution on...


38. TRAKnet Software

  • Best for: SMBs
  • Price:
  • Mar 06, 2022
Compare TRAKnet Software Vs. AllegianceMD

TRAKnet Software is a cloud-based as well as an on-premise electronic health record solution that is provided as a suite with it containing a medical practice management solution, and medical billing software, and a hospital management solution all in one platform.


39. Face-Cradle

  • Best for: Medium and large size businesses
  • Price:
  • Mar 31, 2022
Compare Face-Cradle Vs. AllegianceMD

Mercury Medical is a cloud-based as well as on-site electronic medical record (EMR) suite that is designed to streamline medical practices activities to achieve efficiency and productivity while offering Electronic Health Records (EHR), revenue cycle management and practice management solutions. I...


40. CareVoyant

  • Best for: Small, medium and large size businesses
  • Price: starts at $10,000 per license
  • Mar 05, 2022
Compare CareVoyant Vs. AllegianceMD

CareVoyant is an integrated cloud-based solution that is designed for agencies offering private-duty nursing, non-medical care, and home health. The solution has a number of features that include a family and employees’ portals for care coordination.


41. MedicsPremier by Advanced Data Systems

  • Best for: Small, medium and large size businesses
  • Price:
  • Feb 19, 2022
Compare MedicsPremier by Advanced Data Systems Vs. AllegianceMD

MedicsPremier is a powerful, reliable cloud-based medical billing solution for all sizes of practice. It offers a number of features which include a patient portal that supports online payments, appointment scheduling and completing questionnaires in advance.


42. PracticeSuite Revenue Management

  • Best for: Small, medium and large size businesses
  • Price: starts at $95 per month
  • Mar 05, 2022
Compare PracticeSuite Revenue Management Vs. AllegianceMD

PracticeSuite Revenue Management is a cloud-based medical practice management solution that is developed as a suite to users that comes along with a revenue management solution, medical billing solution, and an electronic health record.


43. PracticeAdmin

  • Best for: Medium business
  • Price: starts at $99 per provider/month
  • Mar 09, 2022
Compare PracticeAdmin Vs. AllegianceMD

PracticeAdmin is a web-based medical practice management solution that is designed for all sizes of businesses. The solution offers a number of features that include a scheduling module that provides powerful patient scheduling functionality aimed at improving patients interactions.


44. MedEvolve Practice Management Software

  • Best for: Small, medium and large size businesses
  • Price:
  • Mar 25, 2022
Compare MedEvolve Practice Management Software Vs. AllegianceMD

MedEvolve Practice Management Software is a cloud-based as well as an on-premise electronic health record solution that is developed to be used in practices of all types in the medical and healthcare industry.


45. TotalMD

  • Best for: Small businesses and start ups
  • Price: starts at $129 per month
  • Mar 24, 2022
Compare TotalMD Vs. AllegianceMD

TotalMD is a cloud-based as well as an on-premise medical practice management solution that is designed for use in hospitals and clinics of all types. The solution can work in all types of practices that are categorized in the medical and healthcare industry such as cardiology, dentistry, general ca...


46. TotalMD - EMR/PM

  • Best for: SMBs
  • Price: starts at $99 per provider
  • Apr 04, 2022
Compare TotalMD - EMR/PM Vs. AllegianceMD

TotalMD – EMR/PM is a Medical Billing Software that offers medical billing services using online eligibility, electronic remittance advice, etc. It allows the user the ability to streamline the entire process of money collection.


47. MedEvolve Practice Management

  • Best for: Small, medium and large size businesses
  • Price:
  • Apr 21, 2022
Compare MedEvolve Practice Management Vs. AllegianceMD

MedEvolve practice management is a cloud-based and on-premise medical software that helps physicians and health providers to manage their workflow and scheduling arrangement.


48. expEDIum Medical Billing

  • Best for: Small, medium and large size businesses
  • Price: starts at $135 per user/month
  • May 11, 2022
Compare expEDIum Medical Billing Vs. AllegianceMD

expEDIum Medical billing system is a product of iTech Workshop. It is a cloud-based software with a secure HIPPA compliant Medical Billing system. This tool supports UB-04 and HCFA paper and electronic limits.


49. CabMD

  • Best for: SMBs
  • Price: starts at $0.10 per license
  • May 10, 2022
Compare CabMD Vs. AllegianceMD

CabMD is a medical billing solution that allows for better claim management and money-saving possibilities. The solution has a number of features including an elegant interface that is intuitive and user-friendly and does not require an instruction manual.


50. HCS Interactant

  • Best for: Medium and large size businesses
  • Price: starts at $50,000 per license
  • Jul 25, 2022
Compare HCS Interactant Vs. AllegianceMD

HCS Interactant is a cloud-deployed healthcare information management solution that comprises of electronic medical recording, revenue cycle management, practice management, and billing modules. Additionally, there is also the mobile module which assists in accessing the system using any computing d...


51. Healthcare Data Management System

  • Best for: SMBs
  • Price:
  • Jul 25, 2022
Compare Healthcare Data Management System Vs. AllegianceMD

Healthcare Data Management System is a cloud-based system as well as an on-premise medical billing software that is suitable for use in hospitals and clinics of all sizes. The on-premise deployment of the solution is done on Windows computers only.


52. iClaims

  • Best for: SMBs
  • Price:
  • Jul 25, 2022
Compare iClaims Vs. AllegianceMD

iClaims is cloud-based medical billing software that is designed for use in hospitals of all sizes and clinics of all sizes. The solution is designed with the idea of reducing work for the doctors that are not concerned with treating patients.


53. NowMD

  • Best for: SMBs
  • Price: starts at $349 per license
  • Apr 12, 2021
Compare NowMD Vs. AllegianceMD

NowMD is a cloud-hosted medical software that is designed for practice management and handling billing practices within a healthcare organization. With the patient accounting tool, the user can easily track the billing information regarding any patient as well as easing the tasks related to tracking...


54. Orbograph P2Post

  • Best for: SMBs
  • Price:
  • Jul 25, 2022
Compare Orbograph P2Post Vs. AllegianceMD

Orbograph P2Post is a cloud-based revenue cycle management and billing software solution meant for the healthcare industry. The software is quite beneficial to the healthcare facilities as it automates the billing procedure, claims management, as well as invoicing.


55. Pro Health Billing

  • Best for: SMBs
  • Price: starts at $598 per license
  • Jul 25, 2022
Compare Pro Health Billing Vs. AllegianceMD

Pro Health Billing is a cloud-based and on-premise medical practice management software as well as a medical billing solution that is designed for use in al medical institutions. The on-premise deployment is installed only on Windows computers.


56. EMedPro

  • Best for: SMBs
  • Price: starts at $750 per license
  • Sep 05, 2019
Compare EMedPro Vs. AllegianceMD

EMedPro is a fast growing cloud-based Medical Billing software, it is designed to support small and medium size medical practices and hospitals. EMedPro received a rating of 3.4 from ITQlick team. The software cost is considered affordable (2.2/5) when compared to alternative solutions.


57. 837Direct

  • Best for: SMBs
  • Price: starts at $390 per month
  • Jul 25, 2022
Compare 837Direct Vs. AllegianceMD

837Direct is a cloud-based medical billing solution that is used by healthcare providers to create and bill HIPAA compliant medical claims. The software solution supports institutional as well as professional 837 transactions.


58. ABN Assistant

  • Best for: SMBs
  • Price: starts at $1,039 per license
  • Oct 19, 2019
Compare ABN Assistant Vs. AllegianceMD

ABN Assistant is a cloud-based medical billing software for Medicare and private payers. The solution offers a fast, simple, and ABN forms which assist in verifying receipts, claims management, and other patient records.


59. PAR Medical Billing

  • Best for: SMBs
  • Price:
  • Oct 16, 2019
Compare PAR Medical Billing Vs. AllegianceMD

PAR Medical Billing is cloud-based medical billing software that is designed for use in all types of hospitals and clinics and of all sizes. The solution is easy to use and helps the office worker to get the actual price of the treatment given by the doctors.


60. Realtime Patient Payments

  • Best for: Medium and large size businesses
  • Price: starts at $15,000 per license
  • Sep 05, 2019
Compare Realtime Patient Payments Vs. AllegianceMD

Realtime Patient Payments is a leading cloud-based Medical Billing software, it is designed to support medium and large size medical practices and hospitals. Realtime Patient Payments received a rating of 4.1 from ITQlick team. The software cost is considered affordable (2.4/5) when compared to alt...


61. OCExaminer

  • Best for: Medium and large size businesses
  • Price: starts at $1,000 per user/month
  • Nov 05, 2019
Compare OCExaminer Vs. AllegianceMD

OCExaminer is a cloud-based revenue cycle management solution that is designed to assist healthcare providers to optimize their revenues. The solution is structured in such a way that it allows the billing staff to make corrections easily as well as identify opportunities.


62. Waystar

  • Best for: Small, medium and large size businesses
  • Price: starts at $100 per month
  • Aug 13, 2019
Compare Waystar Vs. AllegianceMD

Waystar is a cloud-based healthcare revenue management system that assists in hospital management. The software seeks to simplify workflow and streamline cash flow practices. The software incorporates machine learning algorithms within their system as they assist in predicting claim denials.


63. AZZLY EHR/EMR Software

  • Best for: Small Practice, Medium Practice, Large Practice
  • Price: starts at $75 per month
  • Aug 10, 2019
Compare AZZLY EHR/EMR Software Vs. AllegianceMD

AZZLY EHR/EMR Software is both a cloud-based and on-premise mental health as well as revenue cycle management solution for the behavioral health and addiction treatment organizations. The software can also be regarded as an all in one solution as it ties documentation and medical records together wi...


64. ClinixPM

  • Best for: SMBs
  • Price:
  • Sep 11, 2019
Compare ClinixPM Vs. AllegianceMD

ClinixPM is a cloud-based practice management software that is designed to assist in physician practices as well as medical billing. The software supports multi-specialty and multi-office systems where it offers unparalleled customization options and service whenever needed.


65. Billworx 6

  • Best for: SMBs
  • Price: starts at $99 per user/month
  • Oct 11, 2019
Compare Billworx 6 Vs. AllegianceMD

Billworx 6 is an on-premise medical billing solution that is suitable for use in hospitals and clinics of all sizes. The solution is deployed on both the Windows operating systems computers as well as the Linux operating system computers.



A Buyer's Guide to Business Software Solutions

How to Evaluate and Buy Business Software
 
If you’re somehow puzzled if this article is only for a specific size of business, no, it’s not. This is for you SMEs, MNEs and start-ups software buyers. Also, we’re not talking about a specific software solution here. Whether the software solution that you’re planning to buy is for Accounting, Business Intelligence, ERP, CRM, Help Desk, Maintenance Management or other types of application, one thing is for sure; with the help of this article, you will be able to know the right process in evaluating and buying a business software solution.
 
We’ve been into the software business for years and we’re seeing a lot of nitty-gritty things that often bring confusions and hesitations to many companies looking for better software solutions. Some companies can’t afford to let go their legacy systems while a few is encountering technological snags once the new system is in place. While this is the underlying truth behind software acquisition and implementation, what’s exciting about buying a business software solution is that there is a clear and obvious proof that thousands of companies and corporations today are happy with the benefits this technology is bringing into their respective businesses.  There is a significant increase in their revenue and the growth is on-going. And it’s easy to say; many from the Fortune 500 companies are making a lot of money because of their smartly-acquired business software.
 
So, let’s get straight to the point. What should you do in order to acquire that business software that could make your organization achieve its goals? The answer to this is pretty straightforward: evaluate and buy that right business software. Yes, that’s what you need to do and here’s the best manual from ITQlick.com that could certainly help you in doing that strategically.
 
Consider the Needs of Your Organization
Let’s assume that at this point, the entire management team agreed that you are ready to invest on a certain software application. The budget has been compromised and the key persons who will be involved in the acquisition process were already identified. Therefore, it’s time to approach things the project management way.
 
Define the Project
Every business software solution is categorized base on application type, features, deployment model, market size and pricing model. Remember that our objective here is to evaluate and buy a business software product that will fit into the size and present needs of your business. So what the project management team should try to deal with first is to define the real requirements of your business exactly base on the categories set by the software industry. Moreover, by doing this activity, you are already narrowing down your search for the right solution. Now, consider bringing this list of FAQs to the project management and aim to come up with clear-cut answers.
 
  1. What type of software is needed? Is it Integrated-Suite, Best-of-Breed or Industry-Specific? Ask your CEO’s main agenda and find the perfect match from these available options.
  2. What are the core and secondary features? Are you looking for basic, advanced or hi-end features? List down the specific features per category and allow the department managers and supervisors to give their insights on this list.
  3. How are you going to deploy the system? Would it be on-premise, cloud-based, hosted, or mobile-based? Weigh these options with the help of your CIO.
  4. Are you going for Tier 1, Tier 2 or Tier 3 vendors? Their offered solutions are base on the size of their target market - SMEs, MNEs or start-ups. Seek your CFO’s advice as it is important to match your financial capacity against the cost of the solution that the providers have for you.
  5. Are you willing to pay for the perpetuity software license or a subscription-based solution is way better? How many users are there and what would be their roles in using the system? Solicit feedbacks from future end users for they know better what challenges and risks might possibly come along their way when they’re using the system.
 
Finalize the BOM or List of Requirements
After providing definite answers on the above questions, we can say that the project has already been defined. Your procurement team is now ready to do their role in the acquisition process of this solution. However, in order for them to execute their job properly, they must have the complete list of requirements - features, specifications, hardware, and the software product. In other words, the Bill-of-Materials (BOM) that is final, complete and well-prepared must be handed over to the procurement director. Needless to say, it is very important that everybody is following the company purchasing and procurement protocols at all times.  
 
Request for Proposal (RFP)
The RFP process will bring everything into formality. Since you’re more likely in a line of business that doesn’t regularly buy software products, it is of critical importance that your RFP is well-structured before you send it to your prospect solution providers.
 
Draft the RFP
An RFP that contains all the relevant information as discussed during the project management meetings will enable the providers to return back to you their proposal that is complete and substantial. Therefore, your RFP should basically contain the following:
 
Brief Introduction
  • Company Name
  • Mission and Goals
  • Purpose of the RFP (or the need for software solution)
Business Background
  • Organizational Structure
  • Current Situation (IT infrastructure, system currently in-use, system issues and desired solutions, etc.)
  • Major Objectives of the Software Purchase
Request for Specific Requirements
  • Solution Functionality
  • System Specifications
  • Vendor Company Information
  • Price Model, Service Plans, Package Options
Other Important Inquiries (if necessary)
 
Send the RFP
Well-structured RFP will bring a lot of advantages especially when the proposals from various providers are received and then subjected for review and analysis. Send your RFP to at least three to five providers (or prospects which you have already shortlisted during the project definition phase). Depending on the complexity of the solution, most vendors will send their proposal in a matter of time, which could be around 4 to 6 weeks for Integrated-Suite solution.
 
Why still send RFP?
Is there really a need for RFP if your preferred solution (like cloud-based) and the service plans or packages are already displayed on the vendor’s website? Well, yes, you still need to undergo the RFP process. For most sales people, they certainly know that those figures appearing in the vendor’s website are usually the “list price” and not the “actual price”. More importantly, the vendor’s proposal (response to RFP) will serve as your main basis for the negotiation. Therefore, sending an RFP is a strict requirement.
 
Follow up questions relevant to RFP
More often than not, questions and concerns will be raised by the vendors to whom you send the RFP. You have to entertain them with utmost professionalism. Solution providers who are seeking further clarifications relevant to the RFP are consisting of professional software experts who wants to help your organization as much as they can. Entertain them but at the same time, always be cautious when providing additional information which you know is confidential or proprietary.
 
Evaluate the Proposals
Always refer to your finalized BOM when tabulating the contents of each proposal. Part of this process is to check the features that are available from this certain vendor and to cross out those that are not. While using spreadsheet aids the tabulation process, laying down the document proposals on the table and allowing your project management team to review them one by one should always be conducted. Evaluating the proposals in full force can help strengthen your decision-making process. Have another round of brain-storming session and come with the name of your preferred solution provider.
 
When selecting the final vendor, always promote the best interest of your organization. Consider answering these questions with full sincerity.
 
  1. Which vendor can provide the long-term benefits to your organization?
  2. Which vendor can provide the best and honest service from acquisition to full implementation?
  3. Which vendor is willing to devote most of its time in better serving its client?
 
Contact this solution provider and in your own strategic approach, try to get the answers to those three important questions above. In most cases, vendor who really wants to prove its craft will offer product demos on a higher level. Others will even invite you to check their already deployed and working systems. Feel free to connect with this type of vendor. Conduct simulation and testing, be it a cloud-based or on-premise solution. Examine all aspects and angles especially those that your project management team want to really know in-depth. For as long as it could help you arrive at a better decision, consider doing all the options available – for the interest of the organization.
 
Enter the Negotiation Process
Most solutions providers can be flexible in terms of pricing. Although the final say is oftentimes on the mouth of the sales person from the vendor’s side, a good negotiation process can always deliver a win-win situation to both parties involve. While negotiation sometimes cannot be settled in one sitting session, always be honest with your intentions whenever negotiating with your provider. If it’s about your budget, justify it with clarity. If it’s about their service plans, tell them what’s lacking or missing on their solution. At the end of the day, the most important event that should happen is that both of you are shaking hands because of a well done negotiation process.
 
Seal the Contract
So what are you going to do on a contract that involves a significant amount of investment? There are three project management approaches for this.
 
  1. Pass the ball to you legal team. They know what to do and more or less they will tell you if there is something wrong with the contract. Give them enough time to review before they affix their signature and then finally seal the contract.
  2. Hire a consultant base on the technical aspect that you want to clarify in the contract. If it’s the Scope of Work (SOW), a software implementation expert is the right person. If it is related to complex legal terms and conditions, a lawyer can help. If it has something to do with money, invite an accountant to conduct a thorough review and computation if necessary.
  3. Always consider consulting your project management team. Remember that the CIO, CFO and CEO are all team members. They will be the signatories and they know what’s best for the interest of the company when signing a contract agreement.
 
From evaluation to buying stage, it is important that the project manager must take full responsibility of monitoring all the works identified and distributed among team members. This is why delegating the right project manager is also an important consideration when buying a business software solution. And again, ITQlick.com wants to emphasize that whatever the size of your company is, using the project management approach will always lead you into a better outcome – that is getting what you paid for the right business software solution. 

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Author

Shlomi Lavi

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Shlomi holds a Bachelor of Science (B.Sc.) in Information System Engineering from Ben Gurion University in Israel. Shlomi brings 15 years of global IT and IS management experience as a consultant, and implementation expert for small, medium and large size (global) companies.