How Much Should You Be Paying for Contract Pricing Software?

Rfp proposal software

Whether you’re working with federal contracting proposals or private contract proposal, the benefits of using contract software to handle your company’s contacts, agreements and other paperwork are clear.

To draw up these contracts by hand each time can easily cost tens of thousands of dollars, as the cost of preparing a proposal for high-level contracts typically falls between 1 and 2% of the contract’s total value. While it’s a small percentage, it quickly adds up. As a result, more companies are turning to contract pricing software than ever before to cut costs.

But despite the amount of time and resources you save with private and government contract pricing software, it’s still, sadly, not free. And with this software available at a variety of prices, it can be tough to know how much you really should be paying.

Here are three simple things your company needs to know about finding the right pricing software at the right price:

Understanding frequency

Contract software, unlike many other types of software you may purchase, doesn’t come with a fixed, one-time price. In fact, most of these programs charge a monthly or yearly usage fee, which can range from $25 per month to as much as $14,000 per year. With such a wide range in pricing, be sure to select the software that’s best for your company’s budget as well as its contractual needs.

Research types of software plans

In addition to payment frequencies, contract software providers often offer several different packages of their software for companies like yours, from a basic version with bare-bones features to the most premium option that has all the bells and whistles. Take the time to research the different features offered ? many software providers offer demos and trials of these features so you can test them out, as well.

Don’t rule out the free version

In some cases, your company might be small enough that it doesn’t need the premium features found in paid contract software. In this case, you might be better off using the free or limited plan, getting all the benefits of this software without the extra cost. Read more.

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