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Procurement Market Intelligence Report

Risk Management Software Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Risk Management Software?

What is the average price of Risk Management Software?

This procurement report includes pricing information to help you purchase Risk Management 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 Risk Management 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 Risk Management 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 Risk Management 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 Risk Management 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 Risk Management Software?

The risk management software market has a low level of market share concentration. The top four companies constitute less than 30.0% of total market revenue. As a result, the market is fragmented and competition is intense. According to ProcurementIQ, there are about 400 risk management software suppliers in the market.... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Integration

What programs and platforms is your risk management software compatible with?

What steps does your company take to assist in the integration process?

Has the integration process ever compromised a buyer's IT infrastructure in any way? If so, how was that handled?

Are there any additional costs for downloading and installing your risk management software?

Experience

How long have you provided risk management software to your longest-tenured client?

How long have you served customers in my industry?

What are some similar clients you have serviced, along with service periods?

Could you provide a list of client references, along with contact information?

Could you provide the background and experience of key personnel?

What industry do you most commonly supply this product for?

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Key elements for every RFP

What should my Risk Management Software RFP include?

Project Budget

Buyers should specify the contract term for the software license and any contract renewal terms if applicable.

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 look for vendors that offer software solutions that meet the requirements of the RFP.

Buyers should review the experience of vendors based on client testimonials and their ability to provide quality customer service.

Buyers should evaluate providers based on the estimated costs of the software and services they are providing.

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

Project Schedule

Buyers should outline the timeline of the RFP and project.

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

Buyers should include any other benchmark dates relevant to the project that suppliers will need to be aware of (e.g. demonstration dates).

Evaluate major factors to mitigate risk

How risky is the Risk Management Software supply chain?

Supply chain risk for this market is at a low level and has remained unchanged in the past three years. Among upstream suppliers, computer manufacturers create the most risk for risk management software suppliers. Computer manufacturers face many different challenges, including rising competition from imports from countries with lower production... Subscribe to learn more.

HIGH

MEDIUM

LOW