Learn about actual and potential costs
How much should I pay for Human Resources Software?
What is the average price of Human Resources Software?
This procurement report includes pricing information to help you purchase Human Resources 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 Human Resources 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 Human Resources 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 Human Resources 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 Human Resources 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 ?
Market share concentration in the HR software market is high. The four largest vendors, including Workday, ADP, Ultimate Software and Intuit, account for more than 50.0% of the market's revenue in 2020. Market share concentration has been increasing during the past three years due to consolidation trends among companies. For... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
In the last three years, how have you adapted your customer support operations in response to client feedback?
Is technical support a feature of each software package? What level of support comes standard with each HR software package you offer?
What is your protocol to handle technical support issues? Do you offer an option to pay a premium for more comprehensive support?
Do you offer training during the software integration phase?
How would you characterize your company among its competitors in the HR software market?
What is your current client turnover rate? How have you taken steps to improve this rate in the past three years?
Have you been involved in any HR software-focused mergers, acquisitions or divestitures in the past three years?
How do you attract and retain programming talent?
Have you had any data breaches in the past? Have you had any data breaches in the past three years?
What innovations have you developed to secure clients’ data in the past three years?
Is the software capable of locking out users or terminating connections in case of suspicious activity?
How can users mitigate security risks when using your software?
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Key elements for every RFP
What should my RFP include?
Buyers should state their budget for the HR software and related services.
Buyers can reference the Benchmark Price and Total Cost of Ownership sections of this report for assistance in creating a budget.
Buyers should evaluate potential vendors based on their ability to meet the functional and technical requirements described in the RFP.
Buyers should evaluate potential vendors based on their ability to provide exceptional customer service.
Buyers should evaluate potential vendors based on their ability to provide regular software maintenance and upgrades.
For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.
Buyers should include the date when proposals are due and when the contract award will be announced.
Buyers should include key benchmark dates, such as the date by which implementation of the new software system must occur.
Buyers should outline the terms of the contract and the cancellation policy.
Evaluate major factors to mitigate risk
How risky is the supply chain?
Buyers face a low level of risk from the HR software supply chain. Vendors require a variety of goods and services to help support their operations, including computers, legal services and electrical support services. Direct suppliers, such as computer manufacturers, IT consulting firms and software publishers all present low risk... Subscribe to learn more.