What is a Software Procurement?
Definition
The organizational process of researching, evaluating, purchasing, and implementing software solutions. Software procurement involves needs assessment, stakeholder alignment, RFP creation, vendor evaluation, contract negotiation, and successful deployment following established procurement policies."
Why This Matters
Systematic procurement processes ensure consistent evaluation and prevent ad-hoc purchasing. Following established processes helps maintain oversight, avoid redundant tools, and ensure proper vendor evaluation.
Related Terms
Showing semantically related terms from our RFP knowledge graph. Priority connections are highlighted.
Essential Connections
Procurement Lifecycle
Pricing & Total Cost
The end-to-end process for acquiring software including needs assessment, requirements definition, RFP creation, vendor evaluation, contract negotiation, implementation, and ongoing management.
RFP Process
RFP Fundamentals
The systematic workflow for soliciting and evaluating vendor proposals including planning, document creation, vendor outreach, response collection, evaluation, and final selection.
Vendor Selection
Vendor Management & Evaluation
The systematic process of evaluating and choosing software vendors based on product capabilities, security compliance, implementation support, company stability, and pricing.
Contract Management
Software Features & Capabilities
Software managing contract lifecycle from creation through renewal including template libraries, approval workflows, e-signature, obligation tracking, renewal alerts, and repository search.
Request for Proposal
RFP Fundamentals
RFP stands for Request for Proposal—a formal business document used to solicit vendor proposals for products or services.
Vendor Evaluation
Vendor Management & Evaluation
Comprehensive assessment of software vendors across product fit, security compliance, implementation capabilities, company qualifications, and total cost of ownership.
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