How much does facility management software cost?
Facility management software has become an indispensable tool for businesses aiming to streamline their operations, enhance efficiency, and maintain optimal facility performance. However, the decision to invest in such software often comes with the question “How much does facility management software cost”. In this article, we’ll explore the various factors that influence the cost of facility management software (also knows as CAFM systems) and provide insights to help businesses understanding the varying pricing models on the market and what to look out for.
Facility management software providers have various pricing models dependent upon the organisation. All these pricing models tend to be subscription-based pricing, where you pay a recurring fee monthly or annually for access to the software.
Lets’ take a look at the most common pricing models and what to look out for when is comes to each of these strategies.
Cost per User
The is by far the most common pricing model. This is pricing based upon the number of users that require access to the system. This is normally a fixed price per user which is billed annually or monthly.
What to watch out for:
If you want all your employees or stakeholders to have access to the system for visibility of jobs and raising requests, it is going to be costly.
You need to make sure you are not having to go back to the provider every time you need to add a new user.
Challenge the provider on the different tiers of users. I.e. a full admin user is going to be using the system a lot more than somebody who just wants to raise a request, so make sure you are not being charged the same.
Cost per site
This is based on the number of sites you have within your business. This is a fixed price per site so you can have as many users, contractors, requestors as you want.
What to watch out for:
All sites are different. Some sites are larger or newer than others. The problem here is you risk paying the same price for one large and one small site which is hard to justify. This pricing model will typically benefit large business with large sites.
Be careful, some providers may take into the consideration the sq. footage of each site and often with this pricing strategy they will also charge extra for additional modules.
Cost per module
The pricing module is based upon the number of features you will require to manage you facilities. Each feature or module will have a specific price. For example:
10K For the Asset Module
12K For the Helpdesk Module
What to watch out for:
This pricing strategy is suited to large companies and often comes with an additional charge per user.
Other Potential Facility Management Software Costs to look out for?
- Integration- If you are looking to integrate with other systems there is normally and additional charge for this.
- Support- some providers have different levels of support dependent upon your requirements and charge a premium for this.
- Updates- Some providers will keep you on a particular version of the software meaning you will not benefit from their new features. The problem here is your version will quickly become outdated, forcing you to pay more further down the line for newer versions.
- On premise vs cloud- On premise solutions I.e.. Setting up the solution on your internal servers and infrastructure on site tends to be more costly upfront due to the additional time required with set up.
- Implementation & training- This can vary dependent upon several variables such as the features required, complexity of the business, size of the business, speed of adoption by the client and more. This tends to be one off 1st year costs with the ongoing cost being the subscription value, so make sure you budget for slightly more in year 1.
How The Pricing of Our CAFM System Works
At Trackplan we base our pricing on the number of reactive, planned jobs and forms you will issue over a 12-month period.
With this pricing model you have access to all the modules, features, and can have as many sites, locations, users, assets, stock items, documents, and resources as you wish.
You will also benefit from free support and upgrades to the platform as we continually improve the software and add more features.
This pricing model scales in line with the use of the platform which normally directly correlates to the growth or retraction of your business.
It is very difficult to provide a definitive facility management software cost as all providers are different and price in different ways. They may also be combination of pricing models outlined above. That’s why it’s important to talk to CAFM providers and obtain multiple costs. Remember however there are many more consideration than just costs when it comes to selecting a CAFM system.
If you want help choosing a CAFM system and want to explore all these considerations, we have created a free eBook which you can access by clicking HERE.
Author
Charlie Bown
Ex Facility Manager, I feel your pain!
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