Business software is a significant investment. In 2021, SMBs are expected to spend $684 billion on IT hardware, software, and services. When it's your turn to make that investment, it's important to buy software that fits the budget and the growing needs of your business.

On the face of it, some business software may seem simple. This is especially the case for software such as expense management software and invoicing software. However, many of these tools may require you to make some crucial changes to your hardware and business processes. Consider what changes you may have to make when deciding which solutions will work best.

Whether you plan to replace current software or buy a new product, Gilded Pendulum suggests that you consider several things.

Cost vs Value

You want a product that fits your business’s budget. The first step is to determine how much your business can afford to spend on software. Next, create a list of products that are within your budget. Compare the products on this list to determine which ones are the most suitable for your business’s needs.

Avoid the mistake of going for a software product well above your budget just because it has a long list of features. You'll often find your business has no use for many of the features on that list. When comparing products, make a list of must-have, nice-to-have, and do-not-need features to help you compare the products on your short list.

Take into account the scalability of the products on the lower end of your budget. You want a solution that grows alongside your business. Project the growth of your business in the next five or so years, and estimate how the software’s cost will increase to meet the increasing number of processes, users, and products. You might be surprised to find those seemingly cheaper solutions that might become incredibly costly to scale up or replace as your business grows. Considering the medium- to long-term implications of buying software can help you make the best choice.

Implementation

Consider how easily your employees can learn how to use software and adapt to it. Employees are often more willing to adopt software solutions that are easy to learn and use. Research the specific use cases of software products to determine how efficiently you can implement them in your business.

If it turns out the software that offers the best value also happens to be difficult to learn, find out whether the provider offers assisted implementation. For an additional cost, some software providers may help you set up the software and train your employees on how to use it. Factor the assisted implementation cost into your budget considerations.

Customer Support

Good software support can make or break your business, especially if all employees use the same program. If you select a program that's difficult to use or have a small IT team, customer support is vital. When comparing the customer support of software providers, be sure to inquire about available hours.

Moreover, take note of the type of support the providers offer. They may offer phone support or a ticketing system via email — or both. If they provide a ticketing system, find out the expected wait time for a response. Ultimately, you want a software provider that will give you prompt, helpful support.

The most suitable software solution for your business is one that offers you the best value for its price, is easy to implement and use, and provides timely, helpful support. Keep these and other considerations in mind when choosing software for your business. 

When you’re ready to level up your business’s information services, a fully customized solution is the best choice. To ensure you’re fitted with the right services, connect with Gilded Pendulum today!

-Written by Derek Goodman