Modeling and simulation are some of the most advanced and powerful tools for analyzing operational performance in companies to support continuous adaptation to market needs. There is a wide range of simulation software packages available on the market. They offer a large variety of applications, have different prices and features and use different modeling approaches and strategies. This article develops a approach based on a multi-criteria method that helps companies select the right simulation software, that will improve the company’s productivity. Because the problem of selecting a software product is a multi-criteria decision problem with contradictory objectives, we shall use the extension theory and the Matter-Element (ME) method for solving it. The ME method for several alternatives and a single level of the criteria is presented in steps. The multi-criteria approach is applied for a case study connected with selection of simulation software. Three alternatives are evaluated according to 17 criteria that are of interest to the manager. The approach offers a structured way for describing the problem that takes into account the criteria related to the features of the simulation software. The weights associated with the criteria are chosen in such a way as to ensure a correct evaluation of the alternatives in order to achieve a set of objectives.