Buying new software is no small feat. According to statistics, an average small and medium businesses spend 6.4% of their revenue on IT expenses. This is a huge amount of money.
As an entrepreneur, it is your responsibility to ensure you get value for this money. But how do you do it? By buying the right software or business application that creates value for your firm.
Here are the primary considerations to make when buying business software.
- The Cost and Value of This Software
The cost of any item plays a vital role in any business decision. However, don’t base your decisions purely on price alone. Instead, ensure that your business derives value from this software.
Most people believe that buying an expensive item translates to a higher value. But that’s not always the case with software. For instance, buying expensive software doesn’t necessarily create value for your firm. Why? Because you may fully utilize the features in it.
When determining value, make a list of features you need the software to have. Look for software that meets these needs.
- The Process of Fixing Bugs
Every business application or software has bugs. Before making the purchase, assess how the software provider intends to solve these bugs.
It is also important that you understand the common challenges to expect and how they’ll be resolved. Thankfully, most programmers are opting for a low code development platform to create new business applications and software.
The low-code language makes it easier to fix any errors in your system. That’s because your IT team can easily note the error and work towards resolving them. With the traditional programming languages, one has to look for the source code or the initial programmer to fix errors in the system.
- The Company Needs
Understanding your business needs is vital in the selection of an application or software. As an entrepreneur, start by listing the immediate needs that the software should solve. Further, assess the needs that this software will be expected to solve in the future when the business grows.
Once you know your needs, you’ll make a better decision.
- The Security Considerations
Take time and read the security page of any software you intend to buy. Focus on the collection, security, storage, and data sharing features of each software.
Good software should be secure and impenetrable by hackers.
- The Support Service
Support service plays a vital role in the success or failure of any software. Depending on the nature of your business, the IT team may be small and thus incapable of meeting all business needs.
Before buying software, check the support timeframes and how you can get this support. For instance, is phone support available or you have to write endless emails?
Most business owners want to automate their business practices. The only way to achieve this is by investing in the right apps and software. A good app or software helps you run your business professionally with ease to achieve quality and timely results. As such, take time to ensure you’re only investing in the right software.