Packaged (Store Bought) Software

Store bought software takes advantage of economies of scale. One piece of software is written and sold in large quantities. The application is usually relatively cheap. Many excellent packages exist for applications such as word processing, spreadsheet, presentations, and income tax filing.

Advantages:

• cheapest initial cost, fastest solution
• typically has many features and functions
• a pool of trained personnel may exist
• professional training may be available

Disadvantages:

• may not work exactly how you want it to work, usually packages are flexible only to a certain degree
• local technical support may not exist
• upgrades may be required to stay current with the software vendor

Tips:

• find a package that the vendor supports
• ask your accountant for recommended accounting software
• consider taking a training course, if available, before buying the software
• talk to current users of the application