Summary: Ready to buy an accounting software package, but terrified of the negotiation process? It may be easier than you think. With these five valuable tips, you can simplify deal-making, negotiate like a pro, and get the best accounting software at the best possible price.

Tips to Negotiate Like a Pro

You’re finally headed toward the finish line. You’ve conducted an extensive amount of research, spoken to dozens of accounting software vendors, and gone through numerous application demos (or perhaps even a trial or two). Now comes the hard part – working with your provider of choice to negotiate a deal on your accounting software.  

Accounting software sales reps are old pros when it comes to deal-making, and going head-to-head with them can be quite intimidating for any company, particularly one that has never been involved in an enterprise software agreement before. But, don’t fret – the five tips below will help to level the playing field, and enable you to negotiate the best possible price on your accounting software package. 

Be Informed
A smart, well-informed accounting software buyer is the one who is most likely to squeeze a great deal out of a vendor. Do your homework, and gather plenty of ammunition in advance. For example, find out what the provider’s typical discounting policy is, what their standard contract terms are, or where their market “weak spots” exists (i.e. do they need to build up a customer base with a certain product or within a certain industry). Be sure to use this knowledge to your advantage during the negotiation process. 

Request a Payment Plan
Don’t let the vendor pressure you into paying the entire cost of your accounting software upfront. The market is very competitive, and vendors are willing to be very flexible when it comes to payment plans. Spreading the cost of your accounting software package over the course of 12 to 18 months can help ensure that you see how the solution will handle a year-end close before you pay for it in full. Additionally, it will keep the vendor vested in your success for a much longer period of time. 

Be an Advocate
Like any technology vendor, accounting software providers are always on the lookout for new customer advocates who will help them win additional business by touting the benefits of their solutions to other potential clients. By agreeing – in advance – to participate in sales calls with prospects, or public relations activities such as media interviews and published case studies, you can score a sizeable discount on your accounting software application. 

Keep Looking
Until the contract is signed on the dotted line, keep your options open and continue evaluating other accounting software packages. If your vendor believes there is a chance they could lose your business to a competitor – and that price is a key criteria in your final decision – they will be more generous when it comes to price cuts and discounts. 

Free is not Always Good
Just because a vendor offers you something for free, doesn’t necessarily mean you need it, or that it will deliver any value for your organization. 

In fact, when a vendor offers free accounting software features and modules, in lieu of price discounts, it is usually a tactic to boost market share for an underperforming product, or to build a base of “beta” clients to test-drive an unproven solution. Unless the free capabilities are on your initial requirements list, politely – but firmly – decline the offer.