Have you ever actually taken the time to consider how many different software products your business is paying for?
It’s commonplace to hear talk of canceling personal subscriptions like Netflix or Audible if you don’t use them as much as you hoped; But, auditing the software products you are paying for as a business seems less ordinary.
According to Flexera’s 2022 State of ITAM report, nearly 1/3 of a company’s SAAS spend goes to waste. Value in software is at the axis of two fundamental characteristics: cost and functionality. As you consider how to get the most value out of your business’ SAAS spend, you should consider these two
Functionality: Better Tools = More Value
The equation of functionality is simple, better tools mean more value. There are many variables that contribute to what makes software inherently better, but this is the basic formula.
For a software solution to be functional, it must provide complete and accurate data, be easy to use, and be robust. For a software tool to be phenomenal, it must be mobile, expandable, and understandable. In the world of software for business enablement, it must also help your business to grow.
Tools that are purpose-built for the industry that you’re working in also have an upper hand since developers can focus on the details that are important to your vertical.
Case Study: Delivery Workflow Automation
In this video testimonial, Crystal Manning talks about how SalesChain’s delivery workflow management tools cut KDI’s DSO in half.
Cost: More Tools = More Value
The equation of cost is simple, more tools for less money means more value.
Considering that the digital transformation has been accelerated by the rise of the hybrid office. how do you get more value out of your SAAS Spend? Consolidate – use less tools with greater value and make sure you focus on user adoption and training.
We are all used to the trade-off between quality and cost, perhaps most fondly through the adage “You get what you pay for.” Many software providers are offering bundled solutions representing a collection of their offerings. The best solution for your business might be to seek a provider who offers the most solutions for your business in a single package.
Get Your Money’s Worth
Quality software is well worth the cost when the software solves problems, integrates with other systems, and even predicts the future. Powerful software solutions can convert your company’s workarounds into workflows that may help to save time, money, or both. Reducing human error, increasing efficiency, and consolidating tasks are all benefits of a well-designed software platform.
A system that integrates with your business processes to help you reach your goals and enables you to analyze real-time data can help your business become significantly more profitable.
SalesChain works to maximize our value within the dealer channel as one system, one solution which offers solutions to many of a dealer’s complex problems. Schedule a demo to see how.
This article was written by Matthew Szczygiel