Pricing Guide: Project Tracking

Category : HR

Pricing Guide: Project Tracking

Three Main Project Tracking Pricing Models

Perpetual License Model

When it comes to licenses, usually, the traditional method is to buy it upfront with the software so that it can be used for a long period of time. This is called a perpetual license. Here a company has to pay upfront to own the license for perpetuity. It is generally used with on-premise applications.

Subscription Model

This is a newer model of payment, evolved with the rise of Software as a Service (SaaS). This subscription model comes with a monthly fee or annual subscription fee which companies pay to be able to use the software. The subscription model is valid only for a short and specified period of time.

Open Source or Free Source Model

The open source is a free source model of software. This means there is no money that goes into getting the license to use the product. This reduces the upfront costs significantly. The downside to this is that companies will have expensive implementation, integration and ongoing maintenance costs.

Comparing Costs by Pricing Model

Perpetual License Costs

Upfront Costs

• Perpetual license fee • Customizations • Installation/setup • Integration with existing systems

Recurring Costs

• Maintenance (updates, patches & upgrades) • Premium support services

Subscription Costs

Upfront Costs

• Customizations • Installation/setup • Integration with existing systems

Recurring Costs

• Subscription fee • Premium support services

Free & Open Source Costs

Upfront Costs

• Customizations • Installation/setup • Integration with existing systems

Recurring Costs

• Maintenance (updates, patches and upgrades) • In-house or outsourced IT consultants

Total Cost of Ownership

The perpetual license method of payment can seem quite expensive at first, due to the high costs upfront. If you look at subscription method of payment, it reaches the same value as the perpetual license in around seven to ten years. The total costs converges.

Key Takeaways:

  • There are many payment options for installation of software in the company
  • Each type of payment method comes with differing factors such as upfront costs, maintenance costs, and more
  • One thing to take into consideration is the tally between the cost of getting a perpetual license and subscription based one. The costs converge in around seven to ten years

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