The purpose of this study was to get an understanding of how academic librarians perceive open-source and proprietary library software. The researchers used a survey research approach and a self-constructed questionnaire as data collection tool. The study targeted 103 library professionals working at HEC-recognized degree awarding institutions (DAIs) and universities in Lahore, both public and private sectors, yielding an 84% response rate. To meet research objectives, descriptive and inferential statistics were applied. Study findings explored that library software should have the facility of advanced searching, library standards, and a user-friendly interface. Comparative analysis revealed that open-source library software contains more modules and requires highly skilled employees. On the other hand, human resources with minor skills can use proprietary software. Factors that prevent adopting OSS for academic libraries include a lack of technical support, skilled and motivated library professionals, inadequate cooperation between supervisors and subordinates, and insufficient training opportunities. Experienced library professionals should guide and offer full cooperation in the selection and implementation of software. Library schools and associations should play a decisive role through school curriculum and professional development programs in preparing graduates and practitioners for embracing modern technologies. Open-source software developers should also organize training programs for software users to work independently in libraries.