As the year is ending, different activities might be going on e.g. budgeting, strategic planning, rounding up finances, and so on. Considering this, some inefficiencies in reporting, data gathering, operations might have occurred, this might lead you to consider implementing business management software.
Having business software is very important, it addresses the different inadequacies identified. However, there are 3 strategic questions you need to ask yourself.
1. Should the software be hosted in the cloud or on-premise?
2. Should I go for tailor-made or ready-made business management software?
3. Whom should I buy from?
1. SHOULD THE SOFTWARE BE HOSTED IN THE CLOUD OR ON-PREMISE:
This is a fundamental question that doesn’t have an already made answer, it all boils down to what kind of business or industry you operate in. However, there are different factors you should consider before making a decision where to host your business management software, see below some comparisons.
| S/N | FACTOR | ON-PREMISE HOSTING | CLOUD HOSTED |
| 1. | CONVENIENCE | It doesn’t have the on-the-go features like when hosted in the cloud. | It is more convenient because you can work on-the-go i.e. anywhere and anytime. |
| 2. | COST | • You need to purchase servers (which depend on specifications). • You also need resources to maintain the servers. | You only need to monthly or yearly license fee. It cuts your coats according to your budget. |
| 3. | INTERNET | Internet access may not be needed. | If there is no internet coverage, you can’t use it. |
Each company will need to analyze their processes and current situation so as to conclude.
2. SHOULD I GO FOR TAILOR-MADE OR READY-MADE BUSINESS MANAGEMENT SOFTWARE?
The major difference between tailor-made, and ready-made business management software is that tailor-made/scalable software is designed or configured according to your business peculiarities and needs that might be unique, while that of the ready-made software is more like software that has the standard features (receivables, payables, inventory). Deciding lies solely on the peculiarities of your business and/or industry. Most tailor-made software has the functionalities of ready-made software.
As a software vendor ourselves, Sage software has both tailor-made and ready-made software that is scalable, addresses industry-specific needs, and also grows with your business, you get to use what you need (it saves costs). To get started, click here.
3. WHO SHOULD YOU BUY FROM?
This answer is straight forward unlike the previous two questions, use the tips below to decide.
a) Are they experienced?
b) Can they attend to my support issues?
c) Do they care about my business growth?
d) Can they offer quality service and products?
The questions can be endless, you can add more questions as you like. Just make sure your business management software is from a reputable software vendor.
Conclusively, these questions are must ask, you’re making a strategic decision for the growth of your business. Make sure the software is the best fit for your business.
REFERENCE: Erpnews.
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