Best Practices for Reviewing Software Purchases

Lorman Education Services
Training overview
Professional Course
1.5 hours

Course description

Best Practices for Reviewing Software Purchases

Best Practices for Reviewing Software Purchases

Learn the recommended approach to the software purchasing process, from initial onboarding of the proposal to negotiating the agreement to post-sale management. In the fast moving software world, businesses do not have the time or resources to waste on poorly performing products. The fact that companies can become dependent on software applications magnifies performance issues by making change difficult. This topic will help businesses properly evaluate software up front to reduce the likelihood of critical performance issues. It will address competition and key differentiators among vendors. The content will assist businesses in evaluating various software license models and understanding where to focus diligence and negotiation efforts. This topic will also address proactive approaches to future vendor termination to help increase leverage with the vendor and ensure a smooth transition if the product or relationship sours.

Learning Objectives

  • You will be able to describe the steps needed to ensure that the software meets your business needs and is adaptable for the future.
  • You will be able to discuss the techniques and strategies that software vendors use to win bids and recognize and expand revenue.
  • You will be able to explain the pros and cons of traditional software and SaaS.
  • You will be able to identify areas where a software agreement can expose your company to unforeseen costs and price instability.

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    Who should attend?

    This live webinar is designed for purchasing managers, material managers, presidents, vice presidents, business owners and managers, CFOs, controllers, accountants, contract administrators, senior buyers and attorneys.

    Training content

    • Understanding the Value of the Software to Your Company
    • How to Evaluate the Importance of the Software to the Company Business Process – Is It Mission Critical?
    • How Does the License Model Fit the Needs of Your Company Financially and What Are the Options?
    • Pros and Cons of Traditional on Premises Software vs. Software as a ServiceUnderstanding Hidden Costs and Liabilities
    • Ensuring That Software Deployment Does Not Result in Unexpected Additional Hardware, Software and Services
    • Price Concessions vs. Liability – Avoiding the "We Are Not Priced for That" Trap
    • Contract Termination – How to Proactively Avoid a Costly and Messy ExitComparing and Leveraging Competing Software Platforms
    • Commoditized and off the Shelf Software vs. Custom Software Applications
    • Effectively Using and RFP or Competing Bid Process and When to Involve the Legal Team
    • Comparing Service Level Agreements to Ensure Performance

    Costs

    The cost of this Best Practices for Reviewing Software Purchases live webinar is $199 per participant.

    About Lorman Education Services

    Lorman Education Services

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    Contact info

    Lorman Education Services

    Lorman Education Services
    2510 Alpine Road
    54702 Eau Claire Wisconsin

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