Priority Matrix Pricing Guide (Mar 2022)

Priority Matrix Software Review
ITQlick Score: 90/100
ITQlick Rating: (4.6/5)
Pricing: 3.4/10 - low cost
Category: Project Management -> Priority Matrix -> Priority Matrix pricing
Ranking:Ranked 28 out of 779 Project Management systems
Company: Appfluence Inc
Pricing: starts at $8 per user/month
Typical customers: Small, medium and large size businesses
Platforms: Desktop, Mobile, Cloud
Links: Priority Matrix review, Priority Matrix alternatives
Shlomi LaviShlomi Lavi / Mar 22, 2022

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Is Priority Matrix expensive?

Priority Matrix is less expensive than the industry average.

Priority Matrix pricing is based on essential, Pro, Business, and Enterprise subscription plans.

Essential is priced at $8 per month and features 5GB file storage and 1-year item history. Pro pricing starts at $12 per month and offers all features of Essential, plus 50GB file storage and 3-year item history, etc.

Business pricing is pegged at $24 monthly and offers all Pro features plus 1000GB file storage, unlimited item history, etc. Priority Matrix does not disclose the pricing details of the Enterprise plan, and it offers unlimited storage amongst other new features. All plans are billed annually, and a free plan is available.

When comparing Priority Matrix to their competitors, on a scale between 1 to 10 (10 is the most expensive to implement), Priority Matrix is rated 3.4. Read the article below in order to calculate the total cost of ownership (TCO), which includes: customization, data migration, training, hardware, maintenance, upgrades, and more.

You can leave your info with us to get a free custom quote with a breakdown of cost for your business needs. You can also find here pricing information from Priority Matrix Software's website.


Project Management Software Price Range

Project management products pricing are divided into three tiers. The prices range between $0 to $7, $7 to $10, and $10 upwards. In addition to this, the prices are set on a "per user, per month" basis or a bulk "per month" basis. However, it is worth noting that these price ranges are mostly for the lower offering found on each vendor website.

Enterprise plans on project management software have more robust features; thus, they cost more but are adjusted to suit each organization based on their number of employees; as a result, their prices are mostly made available upon request. For instance, Asana basic plan costs ₦11, Miro costs $10, and Toggl pricing falls around $8— all per user per month; but their prices for their enterprise plan quotes are not made available.

In addition, project management prices are set based on the size of an organization. Their ranges are as follows:

  • Small Businesses can expect to pay around $5 per user for the basic plan of a project management software. However, small businesses with a very tiny workforce can get many project management products for free because they have free versions that allow between 2-5 employee sizes. Examples of these vendors offering free versions for a small employee size are Candy, Lumeer, and Quire. Some premium project management for small businesses are MetaTask, which starts at $6 per month, FreedCamp pricing starts at $1.50 per month, and Tracked for BaseCamp cost around $3 per month.
  • Medium Businesses can expect to pay between $5 to $25 for project management software, depending on the package type and their number of employees. Todo.Vu costs around $9 per user, per month, Studio Organizer pricing starts at $19.50, and Lumeer costs around $8.
  • Large Businesses can expect to pay less than medium-sized businesses for standard project management packages because their workforce is larger. However, prices for enterprise plans cost more. For example, Agile CRM costs around $80 per month, JotForm pricing is around $100 per month, and Kanbanchi $40 per month.

The price ranges for project management best of breeds are as follows:

  • Collaboration Software Most of the collaboration tools in the market are priced per month and per user, and their pricings are usually divided into three tiers, which range from $0 to $4, $4 to $16, and $16 upward, respectively. However, these are the entry-level plans; premium and enterprise plans cost more depending on the vendors. An example is Pobuca Connect, which costs $2 monthly per user for its standard plan and $8 monthly per user for its enterprise plan. Others are Loop email, which costs at $8 monthly per user; HeySpace pricing starts at $4 monthly per user.
  • Time Tracking Software Vendors of most time tracking software charge on a per user, per month basis, and the prices are divided into three tiers; they range from $0 to $3, $3 to $9, and $9 and above. Note that these are prices for the entry-level plans. For instance, Time Doctor pricing starts from $5 per month, TimeCamp pricing from around $6 per month, and Elorus costs up to $9 per month.
  • Workflow Management Software Like other products related to project management, workflow management software are usually priced on a per-user, per-month basis, and the prices range from $0 to $13 and above. For example, Forms on Fire pricing starts from $20 monthly per user, Formstacks Form starts from $19 monthly, and KissFlow Digital Workplace from $360 per month for 30 users.
  • Time & Expense Software Time and expense products in the market have pricings that range from $2 and $11 upwards, depending on the type of plan and number of users. Examples are EverHour, which starts from $5 monthly per user, Microsoft Dynamics GP costs for less than $1, and WorkTime Professional pricing starts from around $12 per month.
  • Professional Services Automation Software Users can expect to be charged per month for most products in this category. The prices can be divided into three sections, and they range from $3 to $50 and above. For example, TigerPaw Software pricing is priced around $80 per user, per month, Business VoiceEdge costs around $30 per month, and Coaches Console pricing is around $150 per month.

What is the cost for Project Management implementation?

When it comes to selecting Project Management system, buyers are primarily concerned about the cost. In fact, it is the cost that determines whether a potential buyer would go with the product. True, there is no one-size-fits-all formula to determine the “worth” of a business application, but as a software buyer, you want to make sure you get the best value for your money, without having to dig a big hole in your pocket.

Understanding the exact price of a Project Management system isn't easy as the overall cost of software includes the cost of a license, subscription fees, training, customization, hardware, maintenance, support, and other related services. It's essential to take into account all of these costs to gain an understanding of the system's "total cost of ownership."

What are the typical Project Management pricing models?

There are primarily three common pricing models – Perpetual License, Subscription, and Commercial Open Source.

  • Subscription/Software-As-A-Service: - Relevant for Priority Matrix
    Under this pricing model, the system is accessed over the internet, as opposed to installed on-premises. The payment is made either on a per user basis or subscription basis. Ideally, customers are required to pay a recurring monthly fee until a specific period for using the tool. Subscription pricing model is more common with Software-as-a-Service (SaaS) apps.
  • Upfront cost for customization and integration is less compared to perpetual license cost because there is not much flexibility with SaaS systems in this area.
  • Recurring cost is greater as customers are required to make monthly payments as a subscription fee. Additionally customers using premium support services must pay an extra fee.
  • All in all, the total cost of ownership in the both cases is almost the same and may span over a period of 7-10 years, though you may have to pay a higher perpetual license fee upfront. The total cost may vary from starter to mid range to enterprise level apps in both cases.
  • Perpetual license: - Relevant for Priority Matrix
    A common pricing model for on-premise applications, perpetual license requires a customer to pay an upfront sum to own the tool or other intellectual property on-premises for a fixed term.
  • Upfront cost involves the fee for installation, customization, and integration with existing systems, besides perpetual license fee.
  • Recurring cost is low in this pricing model and may include the cost for updates, maintenance, upgrades, and patches. Some vendors do offer premium support services, which come for an extra price.
  • Commercial open source: Not relevant for Priority Matrix
    The customer can acquire the system free of cost without having to incur any upfront license fee. As a customer, you’re solely responsible for the ongoing maintenance, upgrading, customization, and troubleshooting of the application to meet your specific needs. You are on your own for providing end-user support, since you are not locked in with a vendor-supplied system solution.

How much would it cost to customize Priority Matrix? (and is it relevant)

If you need specific features in your system catering to your specific business requirements, the vendor will charge customization cost, depending on your needs and feature requirement. Ideally customization cost is more complex to calculate compared to licensing cost.

Some apps allow you to easily combine data from multiple sources, without any complicated query requirements, while some others can be embedded into different applications to provide enhanced reporting. If you seek products that support customizable dashboards and predictive analysis to identity possible trends and facilitate decision making, you may have to pay higher for all the customization features.

Additionally, the following factors may affect the cost of customization:
  • User interface changes
  • Configurable dashboards
  • Data elements required for tracking
  • Forms to collect additional data
  • Dashboard, management and operational reports that are needed.
  • Workflows and how complex they are
  • Forms to collect additional data
Here are some questions to answer: How much customization is needed? How many systems do you want to integrate to? Does your company work like industry standards or does it have its own customized processes? What kind of special reports are needed?

In order to calculate the cost of customization you can use the following estimates:

  • Minimal customization - integrate with 1-2 systems: $2,500
  • Standard customization - integrate with 3-5 systems: $10,000
  • Fully customized system - integrate with more than 5 systems: $25,000

What is the data migration cost of Priority Matrix? Relevant for Priority Matrix

Most companies opt for data migration services from a vendor, which raises the cost of product ownership. If you choose to transfer data on your own, you can avoid paying the cost of data migration.
Data migration cost depends on the amount of data to be transferred, your current software, availability of migration tools, complexity of data, and gaps between the existing system and the new system.

If your data is stored in Excel spreadsheets, then it may incur you a lot of time and money to migrate data from Excel.
By involving a business services provider in data migration, you are asking them to offer additional services, for which you may have to pay extra.

As a rule of thumb the cost of data migration depends on how many records you want to migrate. Records can include the number of customers, invoices, financial transactions, products, versions, etc. Here is a list you can use as a rule of thumb:

  • 1,000 records: $500
  • 10,000 records: $2,500
  • 100,000 records: $10,000
  • 1,000,000+ records: $25,000

What is Priority Matrix's cost of training? Relevant for Priority Matrix

As a buyer, you are required to pay extra for in-person training, though some vendors offer web-based solutions as part of the package. The cost may involve end-user training, video/self, group, department, and training the super users.

The cost is mainly derived from the approach that you select for your organization:
  • End-user training
  • Group/Department
  • Video /self
  • Train the trainer/super user

Here are some questions to answer: How many groups (different departments, usages, type of users) are needed?

In order to calculate the cost you can use the following estimates:

  • 1-2 Sessions: $500
  • 3-4 Sessions: $1,500
  • 5-7 Sessions: $2,500
  • 8-10 Sessions: $5,000

How Priority Matrix pricing compares to alternative Project Management solution?

When comparing Priority Matrix to alternative systems, on a scale between 1 to 10 Priority Matrix is rated 3.4
In the project management software category, the following software brands are the top alternatives to Priority Matrix: Trello, monday.com, ClickUp, and Asana. Below, Priority Matrix is compared to its top competitors in various aspects:
  • Functionality: Priority Matrix has the basic functionalities for project management software like file sharing, collaboration tools, and reporting. Priority Matrix does not have the Kanban boards feature that Asana, ClickUp, and the rest have, nor the traditional methodologies functionality that its top alternatives also have.
  • Cost: Priority Matrix pricing starts at $8/month, and a free plan is available for single users and students. In comparison, Asana pricing starts at $10.99/user/month, ClickUp and Trello pricing starts at $5/member/month, while monday.com pricing starts at $8/seat/month, with a minimum of 3 seats. Each software brand has a free plan available, and the billing schedule is annual.
  • Support: Priority Matrix offers its clients support via the following channels: email, phone, a knowledge base, and an FAQ section. ClickUp and Asana offer support through chat, while monday.com and ClickUp have a 24/7 live representative, all of which are unavailable on Priority Matrix.
  • Cloud/On-premise: Priority Matrix is a fully cloud-based software solution. In comparison, ClickUp and all top alternatives of Priority Matrix are entirely cloud-based options.
  • Customers/Industries: Priority Matrix targets project managers and business management needs across various industries like software development, sales, education, government, etc. In comparison, ClickUp is also used by nonprofits and remote workers, and engineering teams and startups use Trello.
  • Popularity: Priority Matrix was launched in 2010 and serves over 70,000 businesses and teams globally. In comparison, Trello is used by over 1 million teams, ClickUp serves over 800,000 project teams, Asana is used by 100,000 worldwide, and monday.com has over 127,000 customers globally.
  • Scalability: Priority Matrix is built to adapt to both small and large-scale project management, able to accommodate teams sized over 1000+. In comparison, Asana and other top Priority Matrix alternatives are also built to scale for both small and large-scale operations.

How can the team at ITQlick help?

The science of TCO (total cost of ownership) may not be easy to calculate. If you seek to get detailed info about the TCO, get in touch with ITQlick experts. Contact us today and get up to date, detailed quotes.

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.