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Procurement Market Intelligence Report

Accounting Software Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Accounting Software?

What is the average price of Accounting Software?

This procurement report includes pricing information to help you purchase Accounting Software. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Accounting Software been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Accounting Software yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Accounting Software?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Accounting Software with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase Accounting Software?

Market share concentration in the accounting software market is high. About 250 suppliers offer accounting software, and the top four suppliers account for over 50.0% of market revenue in 2018. These top suppliers are large and often diversified enterprise software companies that maintain their competitive positions by offering a wide... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Customer Support

What is your client renewal or repeat business rate?

How do you evaluate customer satisfaction, and how frequently? Is this information made available to clients?

What is your process for dealing with customer problems and complaints? Do you have an escalation process?

Do you have a step-by-step process to handle client issues or complaints? What does that look like?

What type of training do you offer to your clients? Is it onsite? Is the training ongoing and, if so, how frequent?

Competition

How do you attract new clients and retain existing clients?

How does your firm maintain a competitive edge over other accounting software providers?

What is your reputation like among customers and peers, and how have you developed it?

Has your firm completed any acquisitions over the past three years? If so, how did this expansion affect your business model?

Employees

What are the various stages of your hiring process? What specialized skills do you require your employees to possess?

How do you recruit and retain senior staff?

How do you keep your wage costs under control?

Are there records that show prior training and certifications for all members of the company?

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Key elements for every RFP

What should my Accounting Software RFP include?

Project Budget

Buyers should specify the number of expected accounting software users and level(s) of software access required.

Buyers should detail the contract term for annual ongoing costs (e.g., system support, upgrade and maintenance charges and license fees).

Selection Criteria

Buyers should consider vendors that offer software solutions that meet the requirements of the RFP.

Buyers should review the experience of vendors based on client references and the quality of their customer service.

Buyers should evaluate providers based on the estimated costs of the accounting software and services.

For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should provide the timeline of the RFP and project.

Buyers must include the date of when proposals are due and when the award information will be available.

Buyers should provide any other benchmark dates that suppliers will need to be aware of (e.g., when accounting software system expected to fully operate).

Evaluate major factors to mitigate risk

How risky is the Accounting Software supply chain?

Although the Trump administration has imposed tariffs on billions of dollars worth of foreign goods, these taxes are not projected to affect the accounting software supply chain. The accounting software market is subject to a low risk of input price shocks and supply chain disruptions, primarily because suppliers’ primary input... Subscribe to learn more.

HIGH

MEDIUM

LOW