Software Selection: How to Pick the Best Ones for your Company

SaaSMost, if not all, organizations and businesses in all industries utilize various software tools for managing their daily operations. This is why the potential operational and financial effects of rushed or poor decision-making when it comes to purchasing software could prove catastrophic for your business. That being said, software assessment is crucial so that you could determine the right software tools that match your company’s needs.

Determining your Requirements

Before looking at different vendors and software solutions, consider the current operations of your business and figure out what sets you apart from your competition. Pay close attention to accounting, forecasting, as well as customer relationship management. Obtaining thorough, accurate requirements would likewise help you in not going overboard with flashy features that your company doesn’t need.

Selecting the Right Vendors

Before you begin vendor interviews, create an RFO or Request for Proposal that includes an outline of your requirements and rules so that prospective vendors could use your RFP to demonstrate how their product could deliver and match your set criteria. When you’ve received their RFPs, you could then make your shortlist and invite those in your list to demonstrate what their products could do for you.

Don’t forget to check out the vendor’s background and if you can, speak with their current customers to gain more insight about them. As with any business deal, make sure that you understand the terms of your contract with each new vendor as well as license and subscription SaaS renewals and termination conditions.

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Initial Implementation of the Software

You could begin implementation after you’ve selected your vendors and finished negotiating with them. During this process, make certain that all features you need could function seamlessly with your daily operations.

This is important to determine whether or not you require further tweaks to suit your specific requirements. Make sure to conduct regular testing and evaluation of your chosen software to see if they still support your needs.

Buying software solutions for your business could be a huge undertaking with drastic organizational and financial ramifications if done poorly. To counteract this, make sure to prepare in advance and conduct your software assessment before signing and paying for anything.

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