Companies today face an increasingly competitive market, and the battle for customers is fierce. Transacting a major software purchase can bring significant advantage for an organization, and, when carried out properly, can push your business ahead of the rest. However, as many higher-ups have come to know and fear, one wrong technical turn can devastate a company (and your career.) Consequently, many decision-makers end up opting for a “wait and see” approach that might keep them safer in the short term, but will never put their organization ahead of the curve.
Risks must be taken if markets are to be won. If you sit on the sidelines too long, another’s leap will be your downfall. While we can’t eliminate the risk of failure (no one can!), we can make choices that are calculated and well-informed. When considering your next major software purchase, be sure to keep these 5 key considerations in mind.
Assure Proper Timeline
Create a timeline, and stick with it. Users become increasingly frustrated when go-live dates are constantly moved back due to unforeseen circumstances. When announcing the go-live date, be sure to include extra time for unforeseen issues that may pop up. Assuring user morale is high will help the launch of new products go much smoother than if they have been anticipating the launch for an aggravatingly long time.
Test Functionality
Assure that the software being purchased is going to fit within the needs of the company, but also the needs of the users. Many users thrive on software that is fairly simple and relatively easy to understand, minimizing any disruption of their operations. Prior to the launch of the software, be sure to carry out substantial functional testing, and assure all aspects are properly working while maintaining relevance with the business model of the company.
Know The Costs
It’s obvious that software is expensive, so be sure to calculate accurate estimates of all direct and associated costs, now and down the line, that will come with the transaction. If an ROI is over promised and under delivered, the health of the company is at risk. Be sure to detail future savings, which should be a priority, and compare them to the purchasing costs and expected income of the software. This is the most effective way to analyze the true ROI and profitability of a project. Also be sure to avoid hidden costs and fees they will take a “byte” out of your earnings.
Know The Creator
This may sound quite simple, but it can be easily overlooked when a company is in the throws of swift changes. Getting to know the software developers can further your understanding of the software being passed on to users and members of the company and make the transition into new software capabilities more adaptable to users. In essence, the more that is known about the software, how it was made, and by whom, the easier it will be to know what is being purchased.
Be Prepared
In the event that disaster does strike, and the software is a flop, know what is going to happen next. Always create a plan B, just in case. A common fall-back is having a replacement on hand. In the event that the the software is not fulfilling expectations, many users will have a “what’s next” mindset, so it’s better to know the answer to that question beforehand. Many technology giants have faced software failures, and survived because of the right preparation. There is no reason to not always be prepared for the worst.
Final Thoughts
As Muhammad Ali once said, “He who is not courageous enough to take risks will accomplish nothing in life.” Do your research, create a contingency plan, and don’t be afraid to take thoughtful risks.