Introduction:
Pricing for bill management software may appear perplexing when evaluating software features. One solution is $20 per user per month, the other has a much higher multi-tiered pricing structure. Pricing is often not just based on a single element; rather, it is a function of the complexity, power, and scalability of the solution.
When you understand the basis for pricing, you can get past a comparison of numbers and step-up your consideration to a comparison of value. In this guide, we unpack what drives the cost and provide you the tools to make an informed investment for your business.
Factors Influencing Software Cost
Deployment Model: Cloud vs. On-Premise
Cloud-Based (SaaS): Usually comes with a monthly or annual subscription fee based on a per-user basis. Covering everything from hosting to maintenance to updates. This has a lower upfront cost, and is the most common model for contemporary solutions.
On-Premise: Requires a large onetime perpetual license fee and includes annual maintenance fees. Person B: You host the software on your own servers — a necessary investment in the IT infrastructure and manpower. This model is increasingly rare.
Number of Users
It is one of the most common pricing metrics. Subscription costs increase with the number of employees that require access to the system. Certain vendors have tiered pricing, while others charge per user but charge less per user if you add more users.
Volume of Invoices Processed
Others offer price according to the number of bills you process in a month. For businesses that half many users but only a few invoices (or vice-versa), this could end up being a designed as a low-cost model.
Feature Set and Module Access
While the cheapest routes into automated bill entry are really basic, the best automation platforms are also more expensive. Some of the important functionalities that increase price include:
Deep OCR: Reading complicated invoices and itemisation
Customizable Workflow Automation: Make routes with multi-step and conditional approval.
Advanced Analytics and Reporting: Dashboards, and Predictive Insights
Electronic Payments Processing: Embedded ACH and wire and virtual card capabilities.
Integrations: Ready-made, reliable connectors for mainstream ERPs and accounting software.
Level of Support and Implementation
Self Service: You will save money but have to figure everything on your own and troubleshoot it all.
Guided Implementation: A middle of the road solution that includes assistance when you first get started
White-Glove Implementation & Dedicated Support: A premium service where experts handle your implementation, data migration, and training, and give you priority support.
Definition of Total Cost of Ownership (TCO)
That subscription price is just the start of the story. The true TCO includes:
Implementation & Onboarding Fees: Fees charged once, for setup and training.
Payment Processing Fees: Transaction fees may be charged for processing payments through the software
Internal Time Expense: The hours your team allocates to managing the software along with any integrations.
Intersoft ERP Value Proposition: Clear and All-Inclusive Value
As to our pricing, at Intersoft ERP, we all feel a strongly need for a unified platform that can finally put a smile on the face of every business- and we just want to use this philosophy to provide a clear, predictable pricing that reflects the tremendous value of it. Our packaging is broad and covers the following :
A Strong Feature Set: Bill management, advanced OCR, workflow automation and electronic payments, you name it, and you have it without being nickel-and-dimed for every module.
Flexible User Licensing: Our plans for users are flexible based on the level of your organization.
Custom Support & Training: We make sure you get the most of your investment from day zero.
Although an end-to-end ERP like Intersoft can be expensive on a per-user basis than using stand-alone tools, total cost of ownership (TCO) can be much less when you take into account how expensive multiple SAAS subscriptions can be, the tremendous efficiency gains, and the strategic value of having critical business data located in one place.
Conclusion
Budgeting for bill management software is more than just considering the initial price tag. Value-Efficiency Analysis against Cost factors (Deployment, Users, Features, and Support) Investing in a functional, scalable Solution like Intersoft ERP which scales along with your business more often than not will yield return on your investment many times over, compared to replacing a cheap, functional tool that you will outgrow very quickly.
