Software Sourcing Strategy is a comprehensive plan that outlines the process of acquiring software and related services from external vendors. It is designed to ensure that the software and services purchased meet the organization’s specific needs and requirements, while also providing value for money. The strategy should consider the various aspects of software acquisition, such as the selection of vendors, the evaluation of software, the negotiation of contracts, and the management of the software throughout its lifecycle. It should also consider the legal, financial, and operational implications of the software acquisition process. The strategy should be regularly reviewed and updated to ensure that it is up-to-date with the latest trends and technologies. Ultimately, the goal of the software sourcing strategy is to ensure that the organization is able to purchase the best software and services at the most cost-effective price.