The True Cost Of Inefficient Software

For growing businesses, software can easily be viewed as an expensive and unnecessary luxury. This often prompts business owners to mistakenly pounce on the cheapest option in pursuit of convenience and short-term savings. But for software, cheaper doesn’t always mean cheaper.

The real cost of short-sighted software purchases is often hidden in a classic case of “too good to be true”. In fact, settling for subpar software systems could very well wreak havoc on your productivity and profits.

Did you know: Inefficiencies cost many organisations as much as 20 to 30 percent of their revenue each year! 

Consistency is key

Skimping on quality might be acceptable when choosing laundry detergent, but not all software systems are created equal. When things don’t work as they should within your business, it’s a slightly bigger issue than having to put your clothes in for another cycle.

Be wary of systems that believe they can see you through without regular updates. Whilst something might be good, it can always be better. Choosing a software option that doesn’t continuously improve its offering might mean getting stuck with technology from the dark ages. However, if your software provider is overly eager to release new features without the proper testing, it can create an equally troubling problem.

Features that don’t perform well, glitchy updates, faulty Credit Card processing. Sound familiar? All these things lead to customer complaints and additional customer service. In turn, that leads to time lost on essential tasks, and money wasted on wages and phone call fees. Inevitably, all of these extra costs will deplete your bottom line. The best bet is to choose a provider that offers regular, regimented system updates. It’s also extremely poignant that they’re transparent with their testing and implementation processes.

Don’t let downtime get you down

Likewise, if system downtime is regularly showing up to the party uninvited, you should consider if it’s damaging your business. Picture this: If your system drops out during a period of busy bookings, you could potentially lose out on revenue from reservations and booking add-ons. You could also lose the data from bookings made during the outage. Next, you might have to resort to manual processes temporarily. Then spend time and money rectifying the aforementioned issues. The list goes on! If your software is causing you more hindrance than help, get rid of it.

Look for the full package

On the other hand, software designed for long-term business support can help you save both time and money. An all-in-one software solution complete with helpful integrations and automated systems eliminates staff’s need to switch back and forth between tabs and various platforms (#confusing #unproductive). With integrations for things like accounting, access control, self-service systems, and more, you’ll not only minimise those time-consuming processes, but negate the need for hiring a staff member for that one specific area of your business. Without such a product, you’ll be forced to supplement simple, automated processes with costly manual labour (#nothanks).

The right support when you need it

Your software is important. But if the support available isn’t top-notch, you’ll never be able to take full advantage of the system. A great software provider should be spending more than 50% of your subscription cost on support and development. They shouldn’t just offer adequate assistance; they should go above and beyond to answer the questions you need. Your provider should also give you helpful insights so you can reap all the benefits of their offering. Check out our online tutorials, for example!

Nobody likes logging a ticket and waiting several days for an answer. Your software provider should be equipped with enough support agents per client to provide timely help. We’re talking 10-second hold times, not 24 to 48 hours of waiting. Webinars, training tutorials, blogs, online help articles, and other resources are all marks of a thorough system. However, nothing compares to high-quality, round-the-clock assistance from industry experts. The bottom line? You shouldn’t have to turn to Facebook groups looking to have your software queries answered by your peers.

That’s why it’s so vital to approach your software purchases with the right attitude. Don’t think of them as an inconvenient up-front cost that won’t offer you the immediate answers to all your problems. Think of them as long-term solutions and investments in your business’s future. The right software system should pay for itself by saving you time, saving you money, increasing your revenue opportunities, and more!

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