Top 54 Strategic Sourcing Software (Jan 2023)

2023's Best 55 Strategic Sourcing Systems

Shlomi LaviShlomi Lavi / Jan 01, 2023

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1. Trello

  • Best for: Small, medium and large size businesses
  • Price: starts at $5 per user/month
  • Dec 16, 2022
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Trello is online-based task management software that is suitable for any type of business. The program will help any organization in various tasks which will result into better organization for the company. The dashboard allows the users to see all the tasks in the company and their completion statu...


2. Mapp

  • Best for: Small, medium and large size businesses
  • Price: starts at $49 per month
  • Mar 12, 2022
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Mapp is a cloud-based Project Simulation software that gives users tools to course through converting data to insights and actionable decisions. It also allows them to gather and transform customer data using DMP (Data Management Platform).


3. FinancialForce HCM

  • Best for: Medium and large size businesses
  • Price: starts at $9,000 per year
  • Mar 12, 2022
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FinancialForce HCM (Human Capital Management) is a fully integrated software solution that helps businesses manage their current and incoming employees, from recruitment until their retirement. The software includes features and modules that supports several business aspects, including learning mana...


4. Priority Matrix Software

  • Best for: Small, medium and large size businesses
  • Price: starts at $8 per user/month
  • Mar 22, 2022
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Priority Matrix Software is a cloud-based Project Management software that enables its users to track projects, tasks, and sub-tasks using a 4-quadrants framework.


5. SynerTrade

  • Best for: Medium and large size businesses
  • Price: starts at $59 per user/month
  • Mar 23, 2022
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SynerTrade Accelerate is a cloud-based supply chain management and procurement solution for medium and large enterprises. Its key features include catalog, contract, requisition, sourcing, spend, purchase order, and supplier manager, invoice processing, and supplier web portal.


6. DeltaBid

  • Best for: Small, medium and large size businesses
  • Price: starts at $129 per user/month
  • Mar 25, 2022
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DeltaBid is an award-winning cloud-based Procurement software, it is designed to support small, medium and large size business. DeltaBid received a rating of 4.5 from ITQlick team. The software cost is considered affordable (1/5) when compared to alternative solutions.


7. Diffbot

  • Best for: Small, medium and large size businesses
  • Price: starts at $299 per user/month
  • May 09, 2022
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Diffbot is a data capture software designed to help businesses evaluate web pages, search articles, videos and content on the site and then automatically extract relevant page data.


8. Grow BI Dashboard

  • Best for: SMBs
  • Price: starts at $1,500 per month
  • May 26, 2022
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Grow BI Dashboard is a Dashboard and KPIs software that allows businesses to prepare and store data, make and share unique insights, and build reports and amazing dashboards.


9. Spendwise

  • Best for: Small, medium and large size businesses
  • Price: starts at $9 per user/month
  • Jun 07, 2022
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Spendwise is a cloud-based Supply Chain Management software designed to make purchasing easy, fast and secure. This application allows you to create, send and approve quality purchase orders; receive on purchase orders when goods are received or delivered and manage bills and expenses electronically...


10. Precoro

  • Best for: Small, medium and large size businesses
  • Price: starts at $35 per user/month
  • Jun 07, 2022
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Precoro is cloud-based Procurement Software that allows managers to organize orders and send them to suppliers in an automated system.


Pricing Guide - Strategic Sourcing Software:

Supply Chain Management Sotware Price Range

The typical starting price range for Supply chain management software is between $0 to more than $1000 a month. Most vendors offer tiered subscription plans which might also include extra services and features. The price analysis of Supply Chain Management software products based on the size of the business is as follows:

  • Small companies can expect to pay between $0 and $200 for a Supply Chain software unit. For example, FreightPOP begins at $199 a month, Determine Contract Lifecycle Management at $3 a month, and Agiliron charges $99 monthly. ContraxAware also pricing starts at $59 a month for each user, ShipperEdge pricing goes for $199 monthly and Rose Rocket charges $69 monthly for its base subscription. CoreIMS at $50 a month and Symfact plans costs up to $59 a month.
  • Supply Chain Management software for Medium-sized Businesses have base subscriptions which cost up to $625 a month. For example, GoFrugal POS pricing starts at $375 a month, with a standard plan which costs $625 per month. Infoplus pricing goes for $379 per month.
  • Large Organisations can expect to start to pay up to $1000 for a Supply Chain software. For instance, Oracle Netsuite charges $999 for its base license, Logistically costs $300 monthly for its base plan, and NorthStar WMS pricing starts at $600.

There are some of the best breeds regarding Supply Chain Management software, and they have their price ranges for users who might be considering a specific Supply Chain software product.

The price ranges are as follows:

  • Warehousing Management Software Users can expect to pay up to $49 monthly for Warehousing Management Software. For example, EZOfficeInventory pricing starts at $35 a month, Zoho Inventory cost price begins at $49 per month and Handifox Online for $39 per month. Other vendors charge a one-time licensing fee as well; RetailOps, for example, goes for $2500, and FishBowl Inventory has a starting price of $4395.
  • Transportation Management Software Users can expect to pay up to $1500 a month for transportation Management software products. Some other vendors would offer one-time licensing, which could cost up to $20,000. For example, Trucker Helper pricing plan starts at $30 a month, Husky Intelligence costs up to $29 per month, and Viewpoint Logistics pricing goes for $1500 monthly. Furthermore, TMWSuite charges $20,000 one-time licensing, EnVision costs $3500 and Nova Transportation Solutions goes for $200 a month.
  • Contract Lifecycle Management Software This software subcategory pricing ranges is $19 - $1050 monthly. PandaDoc, for example, starts at $19 a month, Gatekeeper pricing starts at $450 per month, and MochaDocs pricing goes up to $44 monthly for each manager. Agiloft begins at $45 per month for its hosted services and $1050 per user for the software.
  • Demand Planning Software Software in this subcategory can cost up to $750 a month. For context, SkuBrain starts at $150 monthly, Skulocity pricing begins at $495 a month and PlanetTogether costs about $250. However, Some vendors charge a one-time licensing fee; an example is Demand Works Smoothie, which charges $5000.Also, StockIQ has its subscription plan at $750 a month.
  • Dropshipping Software Dropshipping Software has a price range of $19-$525 per month. For instance, EcomDash pricing starts at $60 a month, with other plans running up to $350 a month. Solid Commerce begins at $450 monthly, the Pro plan for SellerCloud goes for $525 a month, and Spocket pricing starts at $19 per month.
  • Freight Broker Software Freight Broker Software Users can expect to pay $69-$4000 a month for this product. For illustration, Descartes Aljex costs $290 per month, AscendTMS pricing goes for $69 per month, and 3G-TM pricing plan starts at $4000 monthly. Lastly, DAT Broker TMS pricing begins at $100 per month, and Dr Dispatch cost price goes for $99 a month.
  • Order Entry Software This subcategory has products that cost between $85 and $850 a month. For example, TotalETO pricing starts at $85 a month, SYSPRO at $199 per month and Epicor E10 ERP at $175. Also, Bizowie Cloud ERP costs $850 per month. Other vendors charge a perpetual licensing fee as well. Active ERP costs a one-time charge of $6000 per user.

11. Budget Maestro

  • Best for: Small, medium and large size businesses
  • Price: starts at $10,000 per year
  • Jul 04, 2022
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Planning Maestro is a software for mid-market enterprises looking to better manage their businesses and improve on performance. It was developed by the Centage Corporation Company which has been offering its services since 2001.   Who Planning Maestro is best for Planning Maestro was developed to...


12. Epicor Supply Chain Management

  • Best for: Small, medium and large size businesses
  • Price:
  • Jul 04, 2022
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Epicor for Distribution is a cloud-based as well as an on-premise enterprise resource planning solution that is geared towards supply chain management. The software assists in the organization of data, reporting, and planning as well. The software has also incorporated business intelligence (BI), th...


13. Vena

  • Best for: Small, medium and large size businesses
  • Price:
  • Jul 06, 2022
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Vena Solutions is a Corporate Performance Management (CPM) software that helps corporate companies manage, organize, and support spreadsheet and spreadsheet based processes for consolidation, management, and reporting. The software can be used for financial budgeting, planning, and accounting proces...


14. Infor SCM

  • Best for: Start up, Small business, Medium business, Large business
  • Price:
  • Sep 23, 2022
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Infor SCM is both cloud-based as well as an on-premise supply chain management solution that is developed majorly for logistics service providers. The on-premise deployment can be done on either the windows platform or the Mac OS platform depending on the customers choice.


15. Tagetik 4-0

  • Best for: Medium and large size businesses
  • Price: starts at $50,000 per feature
  • Nov 22, 2022
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Tagetik is a trusted provider of Corporate Performance Management and Business Intelligence software for budgeting, forecasting, financial consolidation, close, reporting, disclosure and more. Tagetik is one of the fastest growing global software companies in the Performance Management software indu...


16. Intesource

  • Best for: Medium and large size businesses
  • Price:
  • Dec 13, 2022
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Intesource is a web based supply chain management solution for businesses of all sizes. It offers such services as contract management, milestone management, vendor management, and others. The software was designed and launched by Intesource Inc headquartered in Arizona, United States.


17. Directworks

  • Best for: Small, medium and large size businesses
  • Price:
  • Dec 13, 2022
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Directworks is a cloud-based direct materials sourcing software designed to help sourcing professionals perform their job more efficiently and faster. The software can help users to manage Request for Information (RFI), Request for Quotation (RFQ) and sharing documents or conversations using the col...


18. V5 Andon

  • Best for: Small, medium and large size businesses
  • Price: starts at $110,000 per year
  • May 21, 2022
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V5 Andon (now Pinpoint V5) is a manufacturing software designed to help users create a graphical plan for each product made, and this plan can be shared with others.


19. Jedox

  • Best for: Small, medium and large size businesses
  • Price: starts at $160 per 5 users/month
  • May 22, 2022
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Jedox is a cloud-based accounting software that enables managers to carry out crucial operations such as forecasting, planning, and budgeting.


20. Planful

  • Best for: Small, medium and large size businesses
  • Price:
  • Jan 01, 2023
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Host Analytics is a cloud-based CPM (Corporate Performance Management) suite. It is also called an EPM solution, with E meaning Enterprise. This product includes tools such as planning, close management, reporting and analytics. By using this software, companies can have one platform that integrates...


21. The Pool Program

  • Best for: Start up, Small business
  • Price: starts at $439 per license
  • May 25, 2022
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The Pool Program is a service and retail business management solution for businesses of all sizes. Its capabilities include back office support, inventory management, client management, and others. The software was designed and launched by Wise Software & Computer Products Inc headquarte...


22. b-pack

  • Best for: Small, medium and large size businesses
  • Price:
  • Dec 16, 2022
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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, ...


23. IntelliFront BI

  • Best for: Small businesses and start ups
  • Price: starts at $46 per user/month
  • Jan 30, 2022
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The Intellifront BI is a business intelligence/BI software designed to help users in automating, streamlining, analyzing and predicting data and insights in line with the development of the business.


24. KPI Fire

  • Best for: Small, medium and large size businesses
  • Price: starts at $20 per user/month
  • Jun 22, 2022
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KPI Fire is a cloud based project management and collaboration tool that offers KPI dashboards and operational excellence.


25. Chartio

  • Best for: SMBs
  • Price: starts at $40 per user/month
  • Jun 16, 2022
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Chartio is a web based business intelligence solution for businesses of all sizes. Its capabilities include profit analysis, financial forecasting, graphical benchmark tools, and others. The software was designed and launched by Chartio headquartered in California, United States.


26. FlexRFP

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


27. ShippersEdge

  • Best for: Small, medium and large size businesses
  • Price: starts at $199 per license
  • Jun 16, 2022
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ShippersEdge is shipping software for LTL and Truckload shipping...with scalability from a single user to large enterprises. It is an affordable, hosted TMS shipping software with all the functionality you will ever need. It can transform the way you manage your logistics by supporting all departmen...


28. RESULTS.com

  • Best for: SMBs
  • Price: starts at $995 per month
  • Jun 27, 2022
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Results.com is a cloud-based business performance management software that helps executives handle communication channels throughout hierarchy and import data for KPI building.


29. Verian Suite

  • Best for: Medium and large size businesses
  • Price:
  • Jun 23, 2022
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Verian Suite is a purchase to pay software suite that can help companies to get complete control over their procurement processes. The software comes with different modules that can improve the purchasing systems of a company by automating them, create approval system for invoices and help companies...


30. ClearView InFocus

  • Best for: Small, medium and large size businesses
  • Price: starts at $24 per employee/month
  • Jul 05, 2022
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ClearView InFocus is a billing, invoicing and project management solution for your business. The software was designed and launched by ClearView Software and seeks to provide high end A/E solution at an affordable price. The software solution also offers frequent updates based on client response. 


31. QStrat QLM Sourcing

  • Best for: Small, medium and large size businesses
  • Price:
  • Jul 06, 2022
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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.


32. eBuyerAssist

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


33. Puridiom eProcurement Suite

  • Best for: Medium and large size businesses
  • Price:
  • Jul 04, 2022
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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...


34. Flex TMS

  • Best for: Small, medium and large size businesses
  • Price:
  • Jul 05, 2022
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Flex TMS offers the benefits of a turnkey transportation management system without the need for costly system upgrades or integrations. View and manage all your transportation activities or let Echo provide full outsourced support. FlexTMS is the highly automated SaaS-based Transportation Management...


35. Decision Critical

  • Best for: Small, medium and large size businesses
  • Price: starts at $60 per month
  • Jul 14, 2022
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Decision Critical is a business intelligence software that equips companies with a strategic plan which they can use to build profits, manage value, and make informed decisions.


36. Cyberwrite

  • Best for: Medium and large size businesses
  • Price:
  • Feb 26, 2022
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Cyberwrite is a cyber risk management software that helps businesses measure and analyze cyberattacks financial effects using predictive models. The software helps to educate risk managers about business risks and assists in proactively managing such risks.


37. JAGGAER ONE

  • Best for: Medium and large size businesses
  • Price:
  • Mar 17, 2022
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Jaggaer One is a procurement software that enables procurement officials to enhance the management of purchases in a business. The software can be used to manage data from invoices, purchases, contracts, and suppliers and improves the buying and payment options in the marketplace.


38. Negotiatus

  • Best for: Medium and large size businesses
  • Price: starts at $49 per month
  • Mar 29, 2022
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Negotiatus is a spend management software that helps businesses control and manage their spending and other purchasing activities.


39. Proactis

  • Best for: Medium and large size businesses
  • Price:
  • May 16, 2022
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Proactis is a procurement management software that helps businesses solve spend management challenges by providing spend management insights. The software increases control and visibility over expenses, improves relationships with suppliers, and controls the supplier lifecycle.


40. GEP SMART

  • Best for: Medium and large size businesses
  • Price:
  • Jan 22, 2022
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GEP SMART is a procurement software that helps businesses understand and manage spending to maximize savings. It does this by overseeing all operations involving purchases and payments, sourcing, compliance, and source-to-pay processes.


41. Slingshot Enterprise Business Suite

  • Best for: Small, medium and large size businesses
  • Price:
  • Jul 25, 2022
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Slingshot Enterprise Business Suite is a web-based ERP Solution. The software allows you to implement a full package of enterprise applications that includes Sales Order, Procurement & Requisition, Inventory & Supply Chain management as well as Financials while providing the customer tools to easily...


42. SciQuest Contract Director

  • Best for: Medium and large size businesses
  • Price: starts at $45,000 per year
  • Dec 20, 2022
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SciQuest Contract Director is a contract management solution for businesses of all sizes. It also offers workflow management, customized reporting, integration, and other capabilities. The software was designed and launched by SciQuest Inc headquartered in North Carolina, United States.


43. Bilbeo BI Dashboard Software

  • Best for: Medium business
  • Price: starts at $39 per 2 users/month
  • Feb 21, 2022
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Bilbeo BI Dashboard Software is an analytics and KPI software that helps businesses automatically locate weak points by providing intelligent dashboards using generated metrics.


44. Informer

  • Best for: Small, medium and large size businesses
  • Price:
  • Aug 05, 2022
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Informer is a query & report writer software that extends data analytics across organizations. With the software, businesses can access, discover, and analyze insights buried inside big data.


45. Idu-Concept Software

  • Best for: SMBs
  • Price: starts at $50 per feature/month
  • Aug 15, 2022
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IDU-Concept is a budgeting & CPM software designed to give businesses empowered financial management that cuts across budgeting, forecasting, and reporting.


46. Honest Buildings

  • Best for: Small, medium and large size businesses
  • Price: starts at $375 per user/month
  • Sep 08, 2022
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Honest Buildings is a construction software that enables construction owners to increase visibility into projects construction processes. The software does this by providing crucial insights, optimizing consistent project quality, and preventing schedule delays, surprise costs, and potential dispute...


47. Cirrus TMS

  • Best for: Small businesses and start ups
  • Price:
  • May 03, 2022
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Cirrus TMS is a transportation and delivery management solution for businesses of all sizes. Its capabilities include quoting and tracking, freight planning, carrier management, accounting, and analytics. The software was designed and launched by Cirrus Software headquartered in Florida, ...


48. Conga Novatus Contract Management Software

  • Best for: Small, medium and large size businesses
  • Price: starts at $55 per user/month
  • Sep 29, 2022
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Conga Novatus Contract Management Software is a growing cloud-based Contract Management software, it is designed to support small, medium and large size business. Conga Novatus Contract Management Software received a rating of 4.6 from ITQlick team. The software cost is considered affordable (2.2/5...


49. Coupa Cloud Spend Management

  • Best for: Small, medium and large size businesses
  • Price:
  • Sep 19, 2022
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Coupa Cloud Spend Management is a cloud-based suite of financial applications that can help you to monitor each and every part of your company where spend happens. The company focuses on procurement and expense management features to help you improve compliances and increase savings. Users can stren...


50. BasWare Invoice Automation

  • Best for: Medium and large size businesses
  • Price: starts at $100,000 per year
  • Oct 04, 2022
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BasWare Invoice Software is a cloud-based purchase to pay, financing and invoice processing solutions that help the user to automate and streamline the procurement and invoicing process. Some of its core features include e-procurement, financing, supplier management, and travel & expense management.


51. ePMX

  • Best for: SMBs
  • Price: starts at $18 per user/month
  • Oct 06, 2022
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ePMX is a web based purchasing management solution for businesses of all sizes. It offers modules for requisitions, purchasing, receiving, quotation management, invoicing, and inventory management. The software was designed and launched by Bellwether Software headquartered in Kentucky, U...


52. IntelligenceBank

  • Best for: Small, medium and large size businesses
  • Price: starts at $5,000 per year
  • Oct 11, 2022
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IntelligenceBank is a marketing software designed to help enterprises transform and streamline their marketing operations. With integrated digital assets management (DAM), this software enables content marketers to create, manage, and deploy content to capture more leads.


53. AppWright JobCenter

  • Best for: SMBs
  • Price:
  • Apr 10, 2022
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AppWright JobCenter is a process management solution that is used by many industries. This cloud-based solution includes features like workflow management, collaborative scheduling, an in-built form designer, and account management.


54. SAP Crystal Reports

  • Best for: Small businesses and start ups
  • Price: starts at $495 per provider
  • May 13, 2022
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SAP Crystal Reports is a fast growing cloud-based BI software, it is designed to support small and medium size business. SAP Crystal Reports received a rating of 4.3 from ITQlick team. The software cost is considered affordable (2/5) when compared to alternative solutions.



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.