The global market size for business software and services is projected to reach an astounding $429.59 billion in 2021. That figure will surpass $911 billion in 2028.
As businesses recognize the value of automating business processes and leveraging enterprise data for growth, demand for reliable software services will continue to skyrocket.
Thankfully, there’s no shortage of software provider options to choose from today. In the United States alone, there are over 525,000 companies offering software and IT services. More than 40,000 of these companies were established in 2018.
So, how do you choose the right software provider for your business? What factors should you consider?
Read on to learn more.
Cost and Value of the Software
The pricing of a service is an essential factor when you’re making a business decision. No software for business, however important, should drive you to bankruptcy.
Of course, you won’t base your decision on pricing alone. You want to make sure that you’re getting the most value for your money while comparing software costs. Keep in mind that the price of a software solution doesn’t necessarily correlate with the value it provides.
Don’t just opt for a software provider because their software solution has numerous extra features. Most of these features may not apply to your business processes or work with your specific system.
The best thing to do as you consider software price points is to determine which features you must have. You can then determine which features would be nice to have and which ones are unnecessary. In doing so, you can accurately pick software that suits your needs and is priced appropriately.
Whether Assisted Implementation Is Necessary
Work with a software provider whose solutions are easy and to adopt. Some providers have highly complex models that can take your employees a lot of time to master.
Where you have no option but to implement complicated and extensive software solutions, enquire about assisted implementation. Will the provider offer the training required by your employees to get the software up and running as quickly as possible?
Where you need to commit a significant upfront cost, set a definite budget and timeline before signing up for the service. Insist on knowing your software provider’s satisfaction guarantee. If the provider can’t guarantee the success of the product throughout the implementation process, look elsewhere.
The Provider’s Anti-Malware Policy
Just about every software out there has bugs. Before working with a software provider, ask about their procedures when it comes to fixing malware once it arises. How will they address the issues you run into?
Ideally, a software provider should tailor how they fix malware issues to your company’s unique use of their software. Research the company’s reputation regarding customer satisfaction. Reading online reviews is an excellent way to get insights into how your prospective software provider responds to problems with their product.
Software Update Regularity
The best software providers focus on regular software updates. Technology moves fast, and your software provider needs to keep up with the latest trends. They need to continually update their software to meet today’s challenges.
During your first interview with your potential software provider, request details on when they last pushed updates to their software. When can you expect the next update, and how will they communicate that update?
Everyone wants software that fits their unique needs perfectly. That’s what makes a customizable software solution so appealing.
However, there are a few things you need to know before signing up for a highly customizable system. Such a system may be quite complex to adopt. Besides, the more customizable the software is, the higher the price you’re likely to pay for it.
Similarly, opting for a simple system may cost you. Software that’s less customizable means you may not be able to make the modifications you need for the software to suit the needs of your business. Such software will also not adapt to the changing needs of your company as time goes.
Take your time to research a software solution that allows just the right amount of customization you need.
You’re always looking for ways to increase customer engagement for your business. Look for a software provider who does the same for you by offering the customer support you need. This is particularly true if you have a small IT team, are purchasing a complex software solution, or expect the software to be used by every member of your staff.
The best software providers don’t abandon you once you’ve purchased their product. They have a support team to provide extra support whenever needed.
Inquire about your prospective software provider’s support hours. Find out how you can expect to get support. How will you reach them, and what’s their usual response time once you make a request?
A software provider who offers round-the-clock support throughout the year is a great fit.
IT security is a huge concern for business owners today. Before choosing a new software solution, you want to be 100 percent sure that the security of your business data is guaranteed.
How does the software collect, secure, store, and shared data? Does the software provider comply with security regulations? Consider HIPAA and PCI compliance.
Keep in mind that you’ll also need to invest in additional security options. Find out whether the software is compatible with these extra security solutions.
Choose Your Software Provider Carefully
The software provider you choose can make or break your business. That’s why you need to do your due diligence to make sure you’re making the right choice. Consider the factors we’ve outlined in this guide to find a software provider who can contribute to the success of your company.
Are you interested in software solutions that take your business to the next level? Please, contact us today and learn how we can help you.