Top 54 Retail Warehouse Management Software (Dec 2022)

2023's Best 55 Retail Warehouse Management Systems

Shlomi LaviShlomi Lavi / Dec 28, 2022

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1. NetSuite for Retail

  • Best for: Small, medium and large size businesses
  • Price:
  • Mar 08, 2022
Compare NetSuite for Retail Vs. NetSuite for Retail

NetSuite multi-channel retail management suite is software for retailers from various industries. As this system is web-based, data can be accessed from anywhere and revised in real time. This retail management suite includes sales processing, inventory control, e-commerce as well as accounting appl...


2. AmberPOS

  • Best for: SMBs
  • Price: starts at $999 per license
  • Mar 11, 2022
Compare AmberPOS Vs. NetSuite for Retail

AmberPOS software is a point of sale and retail management solution that is designed for small and midsize businesses. It offers a number of features that include a customer management function that establishes, tracks and maximizes the lifetime value of each customer.


3. Aralco POS

  • Best for: Small, medium and large size businesses
  • Price: starts at $99 per month
  • Mar 14, 2022
Compare Aralco POS Vs. NetSuite for Retail

Aralco POS is a cloud-based point of sale and inventory management software solution that has an e-commerce integration. Aralco POS is designed with a goal, which is to meet the needs of the small and mid-size retailers within the footwear, automotive and industrial supplies, apparel, as well as pha...


4. Sage ERP X3

  • Best for: Small, medium and large size businesses
  • Price: starts at $24,000 per year
  • Mar 15, 2022
Compare Sage ERP X3 Vs. NetSuite for Retail

Sage ERP formerly Sage X3 is cloud-based enterprise resource planning solutions designed for a variety of businesses. The solution integrates the capabilities of sales, financial management, customer service, inventory, distribution, business intelligence, and manufacturing. It helps automate and st...


5. Odoo

  • Best for: SMBs
  • Price: starts at $6 per user/month
  • Dec 28, 2022
Compare Odoo Vs. NetSuite for Retail

Odoo is a customizable fully integrated, and open-source project management software with a plethora of business applications such as manufacturing, project management, CRM, accounting, inventory and some other business requirements integrated into one solution.


6. Camstar

  • Best for: Small, medium and large size businesses
  • Price:
  • Mar 13, 2022
Compare Camstar Vs. NetSuite for Retail

Siemens Opcenter is a manufacturing execution system (MES) for small to large businesses. Its key features include advanced planning and scheduling, manufacturing execution, quality management, manufacturing intelligence and performance, and research, development and laboratory.


7. TopShelf

  • Best for: Small, medium and large size businesses
  • Price: starts at $90 per user/month
  • Mar 18, 2022
Compare TopShelf Vs. NetSuite for Retail

TopShelf is an online Inventory management software built for developers to carry out activities on windows services.


8. Unleashed

  • Best for: SMBs
  • Price: starts at $299 per month
  • Jun 24, 2022
Compare Unleashed Vs. NetSuite for Retail

Unleashed Software is a cloud-based supply chain management software. This software enables its users to track their stock across various locations with real-time data. Its powerful inventory management module allows users to adequately monitor and manage all of their inventories across the various ...


9. LaborVIEW

  • Best for: SMBs
  • Price:
  • Jun 10, 2022
Compare LaborVIEW Vs. NetSuite for Retail

Simplify your employee management processes with Acumen employee time and attendance software. Eliminate redundant data entry by synchronizing databases using our workforce management software. Standalone, Journyx contains many employee management features, as well as HR management and employee self...


10. Zangerine

  • Best for: Small businesses and start ups
  • Price: starts at $149 per month
  • Oct 06, 2022
Compare Zangerine Vs. NetSuite for Retail

Zangerine is a cloud-based distribution management software solution that helps organizations of varying capacities to manage a database of products in multiple warehouses. It helps users to also optimize SEO strategies for their content through the addition of product-specific titles and meta tags....


Pricing Guide - Retail Warehouse Management Software:

Retail POS Price Range

Most retail point of sale products in the market have pricing based on the number of users, physical locations, machines, or sales outlet. Most products are priced per month, and their pricing can be divided into three tiers, starting from $29 to $39, $39 to $75, and then $75 upwards.

These are the price ranges for basic offerings of most vendors; hence, premium offerings which come with more features cost more. For example, Ricochet pricing starts from $99 per month, KORONA costs about $49 per month, and WooPOS pricing starts from $29 per month. Perpetual licences can also be bought for some retail POS software. An example is RetailEdge which can be bought with a one-time fee of $449.

In addition, retail POS vendors target different organization sizes, so business size determines the price.

  • Small Businesses that are looking for a retail POS system can expect to pay between $25 to $50 on a monthly basis. For instance, Epos Now pricing starts from $39 per month, and ThriftCart starts from $50 per location, per month. Meanwhile, some products have freemium plans for small business, while some products are completely free. For example, HadePay is 100-percent free to use.
  • Medium Businesses can expect pricing points between $50 to $120 for a retail POS system monthly. For example, Heartland Retail pricing starts from around $99 per month, LightSpeed POS from $69 per month, and Realtime Cloud from around $80 per month. The number of user accounts paid for on each plan can also attract discounts, depending on the pricing terms from each vendor.
  • Large Businesses can expect prices that fall between the range of $120 to $500 for a retail POS system monthly. For example, RUnit Realtime Cloud pricing starts from $258 per machine monthly, WinWard System Five from around $125 per month, and Epicor Retail Solutions costs around $350 per month for each user account. However, many vendors do not disclose their pricing for large businesses so as to enable them to adjust their pricing based on the need of each organization.

Here are some Retail POS best of breeds and their price ranges are as follows:

  • Retail Management Software Retail management products can be divided into three tiers, and the price ranges for each tier are $28 to $39, $39 to $83, and $83 above. Also, most retail management products are priced on a monthly basis per user or physical location managed with the software. For example, Quant Retail pricing starts from $180 per user monthly, PHP Point of Sale from $39 per month, and POSExpress costs up to $190 per month.
  • iPad POS Most iPad POS products in the market are priced per user or per usage based on a monthly basis. Their price points fall into two tiers, starting from $0 to $30, and then $30 to $85. For example, TillPoint pricing starts from $29 per month, Ambur POS from around $60 per month, and Loyverse pricing starts from $0.01 per usage every month. Meanwhile, some iPad POS software have perpetual licenses that can be bought with a one-time fee; an example is Digital Dining which costs $10,000.
  • Bar POS Software Bar POS products in the market can be divided into two tiers, with each having a different price range depending on the robustness of features. The price ranges fall within $15 to $40 and $40 to $85. For example, BePOZ Point of Sale pricing starts from $69 per month, HarbourTouch POS from $29 per month, and Unicenta from $49 monthly.
  • Restaurant POS Software For a restaurant POS software, users can expect to pay between the ranges of $50 to $100 above per user, table, or managed location. For example, SpotOn Restaurant pricing starts from $65 monthly, Toast POS from $79 per month, and Upserve POS pricing is around $59 monthly. However, most products may incur extra one-time fees that fall between $2,000 to $7,000 because they require additional hardware equipment to run.
  • Retail Management POS Most Retail Management POS software in the market are priced on a per-user, per-month basis, and their price can fall between three ranges, from $0 to $50, $50 to $100, and then $100+ upwards. For example, Lavu pricing starts from $69 per month, PoinOS from $39 per user monthly, and TouchBistro from around $70 per user monthly.

11. Jewel Mate

  • Best for: SMBs
  • Price: starts at $3,500 per license
  • Sep 23, 2022
Compare Jewel Mate Vs. NetSuite for Retail

Jewel Mate is an on-premise point of sale and retail management solution that is designed to help jewelry stores to automate their operations and reduce the amount of labor done. The retailers and wholesalers are also beneficiaries of the solution since it helps them process the day to day activitie...


12. Logiwa

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

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


13. Cin7

  • Best for: Small, medium and large size businesses
  • Price: starts at $299 per 2 users/month
  • May 14, 2022
Compare Cin7 Vs. NetSuite for Retail

Cin7 software is a cloud-based inventory management solution built to support small & midsize wholesale and retail businesses. Cin7 provides inventory management, warehouse management, reporting, and point-of-sale functionality within a single suite.


14. Clear Spider

  • Best for: Small, medium and large size businesses
  • Price: starts at $300 per month
  • May 14, 2022
Compare Clear Spider Vs. NetSuite for Retail

Clear Spider software is a cloud-hosted inventory management suite that is intended to serve every business size. The Clear Spider suite includes warehouse management, inventory management, order & shipping management, as well as billing and analytics, among other solutions.


15. 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. NetSuite for Retail

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...


16. SAP Business One

  • Best for: Small, medium and large size businesses
  • Price: starts at $56 per user/month
  • Dec 20, 2022
Compare SAP Business One Vs. NetSuite for Retail

SAP Business One software is an enterprise resource planning solution designed for small and midsized business. The solution offers a number of functionalities that include premium engagements that secure businesses long-term success with the highest level of enterprise and collaboration.


17. TRXio

  • Best for: SMBs
  • Price: starts at $159 per user/month
  • May 19, 2022
Compare TRXio Vs. NetSuite for Retail

TRXio is an inventory management software designed to help companies organize, create consistency, and save costs within their businesses.


18. NorthStar WMS Software

  • Best for: SMBs
  • Price: starts at $900 per month
  • Jun 10, 2022
Compare NorthStar WMS Software Vs. NetSuite for Retail

NorthStar WMS is a warehouse management software designed for warehouse operations companies to auto allocate inventories, seamless repack items, create picking efficiency, and manage all inbound POs and outbound shipping.


19. Axiom EPM

  • Best for: Small, medium and large size businesses
  • Price:
  • Jun 20, 2022
Compare Axiom EPM Vs. NetSuite for Retail

Axiom EPM is a cloud-based Enterprise Performance Management software that is built to enable financial professionals to model the future, analyze results, as well as optimizing organizational decision making.


20. Cumulus Retail

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

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.


21. Wireless Warehouse in a Box

  • Best for: SMBs
  • Price: starts at $50,000 per license
  • Jun 18, 2022
Compare Wireless Warehouse in a Box Vs. NetSuite for Retail

Wireless Warehouse in a Box is a warehouse management solution for businesses of all sizes. It offers such services as capacity planning, inventory management, quality control, and others. The software was developed and released by Systems Logic headquartered in Ontario, Canada.


22. JDA software

  • Best for: Small, medium and large size businesses
  • Price:
  • Dec 18, 2022
Compare JDA software Vs. NetSuite for Retail

JDA software is a supply chain and inventory management software solution for your business. The software was designed by JDA Software Group, Inc., headquartered in Arizona, United States. It incorporates planning, management, and accounting services to streamline the supply chain of a business. 


23. Brightpearl Software

  • Best for: Small businesses and start ups
  • Price:
  • Jul 04, 2022
Compare Brightpearl Software Vs. NetSuite for Retail

Brightpearl software is an advanced inventory management solution for wholesalers and retailers. The solution offers a number of features that include a bill of material tool that tracks raw material and converts them into finished goods.


24. The Asset Guardian (TAG)

  • Best for: Small, medium and large size businesses
  • Price:
  • Aug 23, 2022
Compare The Asset Guardian (TAG) Vs. NetSuite for Retail

The Asset Guardian (TAG) is a growing cloud-based Maintenance software, it is designed to support small, medium and large size business. The Asset Guardian (TAG) received a rating of 5 from ITQlick team. The software cost is considered affordable (4/5) when compared to alternative solutions.


25. Pronto Xi

  • Best for: Small, medium and large size businesses
  • Price:
  • Jul 05, 2022
Compare Pronto Xi Vs. NetSuite for Retail

Pronto Xi provides an Enterprise Resource Planning (ERP) solution. The product includes Financials, Distribution, Sales & Marketing, Supply Chain Management, Manufacturing and Asset & Facility Management. Pronto Software, the developer of Pronto Xi, has been offering ERP solutions for over 30 yea...


26. MMS Retail Management Software

  • Best for: Medium and large size businesses
  • Price:
  • Dec 20, 2022
Compare MMS Retail Management Software Vs. NetSuite for Retail

MMS Retail Management is a point of sale and retail solution for businesses of all sizes. The services included in the package are inventory management, employee management, business analytics, and others. The software was designed and launched by Master Merchant Systems headquartered in...


27. Vision9

  • Best for: Start up, Small business, Medium business, Large business
  • Price:
  • Jul 15, 2022
Compare Vision9 Vs. NetSuite for Retail

Vision9 is STORIS' newest software suite and is available in two options. For small to mid-size retailers, STORIS offers a SaaS model, which is an ideal subscription based service that provides the core business essentials with minimal IT overhead. For large retailers, STORIS' Enterprise Server so...


28. Snapfulfil

  • Best for: SMBs
  • Price: starts at $4,000 per month
  • Jul 16, 2022
Compare Snapfulfil Vs. NetSuite for Retail

Snapfulfil is a cloud-based warehouse management system that offers a complete WMS solution with required Barcode/RF scanning equipment and refined functionality. The software can be deployed in cloud-based or Software as a Service (SaaS) model for easy access by all users. Snapfulfil can improve pi...


29. ECOUNT

  • Best for: SMBs
  • Price: starts at $55 per month
  • Jul 23, 2022
Compare ECOUNT Vs. NetSuite for Retail

ECOUNT is an enterprise resource planning (ERP) software designed to help users with the management of the business’ inventory, logistics, production, sales, payroll and even accounting processes.


30. WinRetail

  • Best for: Small, medium and large size businesses
  • Price: starts at $10,000 per license
  • Jul 15, 2022
Compare WinRetail Vs. NetSuite for Retail

WinRetail is a software tool for enterprise and point of sale (POS) management designed for mid-size retailers. The main features of the product are point of sale and order management, mobile POS, ecommerce, multi-sales channels, merchandise and assortment planning, pricing and promotion, purchase o...


31. CORESense

  • Best for: Small, medium and large size businesses
  • Price: starts at $150 per month
  • Jul 26, 2022
Compare CORESense Vs. NetSuite for Retail

CORESense is end-to-end cloud based retail management software. The software offers solutions for e-Commence, order management, customer relationship and marketing all in one system. The software was developed and launched by CORESense Inc. which is headquartered in Saratoga Springs, New York. CO...


32. iVend Retail

  • Best for: Small, medium and large size businesses
  • Price: starts at $160 per month
  • Jul 25, 2022
Compare iVend Retail Vs. NetSuite for Retail

iVend Retail is a cloud-based as well as an on-premise point of sale system for retailers as well as wholesalers. The software helps retailers in various industries manage their sales in one platform and makes sure that the process of selling is simplified.


33. Tylernet

  • Best for: Small, medium and large size businesses
  • Price:
  • Sep 08, 2022
Compare Tylernet Vs. NetSuite for Retail

Tylernet is a fast growing cloud-based Retail-POS software, it is designed to support small, medium and large size business. Tylernet received a rating of 4 from ITQlick team. The software cost is considered affordable (2.3/5) when compared to alternative solutions.


34. OfficeBooks

  • Best for: Small businesses and start ups
  • Price: starts at $9.99 per month
  • Sep 15, 2022
Compare OfficeBooks Vs. NetSuite for Retail

OfficeBooks is a web based supply chain management solution for small and medium businesses. It offers such capabilities as supply chain monitoring, analytics, order processing, supplier management, and others. The software was designed and launched by OfficeBooks Inc headquartered in On...


35. Retail Pro

  • Best for: Small, medium and large size businesses
  • Price: starts at $11,000 per license
  • Sep 17, 2022
Compare Retail Pro Vs. NetSuite for Retail

Retail Pro software is a powerful point of sale and retail management solution. The solution has a number of features that include an end-to-end integration tool that integrates data from key retail applications.


36. Active Series

  • Best for: Small, medium and large size businesses
  • Price: starts at $100,000 per license
  • Sep 28, 2022
Compare Active Series Vs. NetSuite for Retail

OrderActive is an inventory management software that provides a single, intelligible view of customers and inventory and scalable order automation that helps reduce overhead.


37. Chondrion Warehouse Management

  • Best for: Small businesses and start ups
  • Price: starts at $100 per 1000 orders/month
  • Oct 07, 2022
Compare Chondrion Warehouse Management Vs. NetSuite for Retail

Chondrion Warehouse Management is a supply chain management software that’s built to help retailers manage customer services, supply chains and order fulfillment optimally.


38. mobe3

  • Best for: Small, medium and large size businesses
  • Price: starts at $250 per user/month
  • Oct 06, 2022
Compare mobe3 Vs. NetSuite for Retail

Mobe3 is a cloud-based supply chain management software that is designed to make warehouse operations seamless. The software is capable of simulating warehouse workflow even before a single pallet is moved. Mobe3 software helps to track every warehouse activity by anticipating workflow and recommend...


39. Aptean Warehouse Management System

  • Best for: SMBs
  • Price:
  • Oct 04, 2022
Compare Aptean Warehouse Management System Vs. NetSuite for Retail

Aptean warehouse management system is a configurable, scalable, and robust cloud-based warehouse management system for businesses with complex distribution networks and supply chains such as multinational and multi-site environments.


40. ShipBob

  • Best for: SMBs
  • Price: starts at $40 per month
  • Jan 18, 2022
Compare ShipBob Vs. NetSuite for Retail

Shipbob is a cloud-based supply chain management software. This tool aids organizations in logistics and shipping industries through fulfillment centers located in strategic locations like Los Angeles, Chicago, San Francisco and Dallas.


41. Cybex Enterprise Retail Suite

  • Best for: Small, medium and large size businesses
  • Price: starts at $100 per user/month
  • Oct 04, 2022
Compare Cybex Enterprise Retail Suite Vs. NetSuite for Retail

Cybex Enterprise Retail Suite is an enterprise retail system that can help retailers with 5 to 300 retail stores. The complete retail suite offers inventory management, POS, distribution, warehouse management, merchandising, customer traffic, eCommerce and other necessary retail functions. The leadi...


42. Kechie

  • Best for: Small, medium and large size businesses
  • Price:
  • Mar 02, 2022
Compare Kechie Vs. NetSuite for Retail

Kechie is a Supply Chain Management software that is fully cloud-based. This software leverages cloud technology to allow seamless accessibility, scalability and affordability. Whether you are an established corporation or small start-up, this software is integrated to streamline your business proce...


43. MultiFlex RMS General Merchandise

  • Best for: SMBs
  • Price: starts at $895 per license
  • Oct 06, 2022
Compare MultiFlex RMS General Merchandise Vs. NetSuite for Retail

MultiFlex RMS is a point of sale and retail management solution for small and medium retail businesses. It offers services related to POS, e-commerce, customer management, inventory management, and other aspects. The software was designed and launched by Microhouse Systems Inc headquarte...


44. Genesis Advantage

  • Best for: Small businesses and start ups
  • Price:
  • Oct 05, 2022
Compare Genesis Advantage Vs. NetSuite for Retail

Genesis Advantage is a furniture retail system with inventory management and tracking, ordering and sales tracking features. The Windows-based software can help users to reduce inventory, boost sales, improve productivity and help users to make informed, better decisions. The system is modular based...


45. OneStep POS Software

  • Best for: Small businesses and start ups
  • Price: starts at $49 per month
  • Oct 05, 2022
Compare OneStep POS Software Vs. NetSuite for Retail

OneStep is point of sale and distribution software for business management. The software was designed and launched by Business Control System headquartered in New Jersey, United States. The software provides affordable automation solutions that are simple to implement and easy to use. 


46. VersAccounts Small Business Cloud ERP Software

  • Best for: Small businesses and start ups
  • Price: starts at $49 per user/month
  • Jan 25, 2022
Compare VersAccounts Small Business Cloud ERP Software Vs. NetSuite for Retail

VersAccounts Small Business Cloud ERP Software is a leading cloud-based ERP software, it is designed to support small and medium size business. VersAccounts Small Business Cloud ERP Software received a rating of 4.8 from ITQlick team. The software cost is considered affordable (1.5/5) when compared...


47. SalesPad

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

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.


48. ChainDrive

  • Best for: Small, medium and large size businesses
  • Price: starts at $1,000 per license
  • Jan 09, 2022
Compare ChainDrive Vs. NetSuite for Retail

ChainDrive is a software product for point of sale (POS) services and retail management designed for businesses selling products and services. The features of the tool are POS, customer relationship management (CRM), mobile assistant, operations management, product management, warehouse management, ...


49. QuickBooks Enterprise

  • Best for: Small businesses and start ups
  • Price: starts at $1,577 per year
  • Apr 22, 2022
Compare QuickBooks Enterprise Vs. NetSuite for Retail

QuickBooks Enterprise is a cloud-based manufacturing software that is used by a lot of companies that are into the business of manufacturing. This tool offers features to help manage locations, multiple users, and large amounts of inventory workflows or transaction data.


50. Momentis Fashion ERP

  • Best for: SMBs
  • Price: starts at $2,000 per month
  • Feb 07, 2022
Compare Momentis Fashion ERP Vs. NetSuite for Retail

Momentis Fashion is a cloud-based supply chain management software built exclusively for the fashion industry. Momentis enables manufacturers, retailers, and wholesale distributors of fashion apparel, footwear as well as accessories to adequately manage their orders and inventories.


51. Asset Panda - Inventory Management

  • Best for: Small, medium and large size businesses
  • Price: starts at $1,500 per year
  • Feb 05, 2022
Compare Asset Panda - Inventory Management Vs. NetSuite for Retail

Asset Panda - Inventory Management is a cloud-based Inventory Management Software that allows users to track equipment inventory as they are moved across locations.


52. Zoho Inventory

  • Best for: Small, medium and large size businesses
  • Price: starts at $79 per organizer/month
  • Feb 16, 2022
Compare Zoho Inventory Vs. NetSuite for Retail

Zoho inventory is a cloud-based supply chain management software that helps users to monitor every item in an inventory by assigning serial numbers to each item. Upon assigning these serial numbers, it has a tracking feature that enables it to track each item.


53. Quickbooks Commerce

  • Best for: Small, medium and large size businesses
  • Price: starts at $15 per month
  • Oct 21, 2022
Compare Quickbooks Commerce Vs. NetSuite for Retail

TradeGecko Warehouse Management is a cloud-based supply chain management software that helps its users to operate a smooth workflow effortlessly.


54. Teamwork Retail

  • Best for: Small, medium and large size businesses
  • Price:
  • Oct 20, 2022
Compare Teamwork Retail Vs. NetSuite for Retail

Teamwork Retail is comprehensive cloud-based store management software designed for retailers with brick-and-mortar stores and online operations. The features of the product include inventory tracking and reporting, transaction functionality with management, merchandising and distribution management...



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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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.