Planning for Your Upcoming Software Investment

The right software packages can streamline your operations and provide you with valuable information on which to base your business decisions. Knowing what to look for in your next software acquisition can allow you to get the most out of these investments in time and value. Selecting the right software and implementing it effectively can help you and your staff members achieve more in the competitive marketplace. Here are six key questions to keep in mind when deciding on a software package for your business, brought to you by

What Do You Need?

According to the Motley Fool, identifying areas in which improvements are needed is the first step in determining the right software purchase for your company. Taking a hard look at the workflows and pain points of your staff and operations will allow you to determine the best areas to address with your software purchase. It will also prevent you from purchasing software that doesn’t address the real issues faced by your organization.

For example, if you’re unfamiliar with the process of registering your business with the state, then investing in software or a formation service like ZenBusiness that can help you with all of your LLC requirements will come in handy.

What Training Will Be Required?

As TechRadar so eloquently puts it, “payroll software will not make you a payroll expert.” This applies not only to payroll and billing but to all aspects of your business operations. You’ll almost certainly have to invest in some sort of training for employees who will be using your new software package. Failing to do so could add up to a very steep learning curve and ultimately, it could cost you time and money.

Are Your Employees on Board?

Encouraging employee buy-in to your new software and the benefits it’s expected to provide will help you make a smoother transition to a new system. Making sure staff members are committed to learning the program and putting it to work for your business will typically allow you to achieve better results from the first day your new software system goes live.

Are You Prepared for Change?

Even simple software packages can require extensive training, adjustments to workflows, and upgrades to your existing hardware. Expense tracking, project management, and payroll software systems are all likely to change the way you do business. Making sure you’re prepared for these changes will help you implement your new software more effectively and avoid surprises or disappointments when the software is put into action.

Is There a Free Demo or Trial?

There really is no substitute for trying before you buy. It’s recommended to put the software to work in a test environment before signing on the dotted line. This will typically allow you to identify any issues with the performance of the software package and provide you with the information you need before you buy.

Is Software as a Service Right for You?

Software as a service (SaaS) is one of the fastest-growing sectors in the software industry over the past few years. KBV Research estimates that SaaS will represent $185.8 billion in the global marketplace by 2024. Its benefits include:

  • Lower initial costs
  • The ability to scale software packages to suit your needs
  • Easier upgrades and new releases
  • Improved support for software installations

SaaS is not right for every business. Considering whether in-house software installations and maintenance are necessary for your business model and operations will help you make the most practical decision regarding your upcoming software acquisition and will ensure the best results from your implementation — now and for the future of your company.

Planning for your upcoming software purchase and implementation can help you and your company get the most from your investment. This can add up to increased productivity and profitability for your business enterprise.

Article by Erica Francis from ReadyJob
Photo by Luke Peters on Unsplash

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