Software & Technology Purchasing: Looking For Customized Products

Software & Technology Purchasing: Looking For Customized Products

Because it continues to transform the habits and expectations of its consumers and because it contributes to the transformation of traditional work models and their operational processes, digital strategy is now an integral part of companies’ daily lives. At the heart of the economic recovery plan developed by the government and the subject of a dedicated support policy, the digital transformation of organizations is considered a vital competitiveness factor for the future.

However, while adopting technologies and software to automate their processes can present various advantages for companies, it is not without raising specific questions. Given the diversity of solutions offered on the market, how do you choose the appropriate solution? What criteria should be taken into account? What challenges can be anticipated to streamline their implementation?

Here are the questions analyzed by Capterra during a study conducted from August 2022 to October 2022 on the trends and purchasing behaviors of software and technology in business observed in 2022. This study was conducted among a panel of 248 participants residing in India, selected for their involvement in software purchasing decisions, and working in a company with 2 to 999 employees.

The Search For Productivity, A Significant Decision-Making Factor

Entrusting recurring and monotonous tasks to technologies rather than employees, relying on data analysis, and reducing the risk of human errors are all decisions that can improve a company’s productivity. By letting technology do the heavy lifting, organizations and their employees can focus on essential tasks and activities with a high impact on their revenue.

The benefit of improving productivity is the primary need that the companies surveyed wish to satisfy through the purchase of software (38%) and the one that first encourages them to embark on a process of acquisition. Other purchasing motivations include concerns about security and cyberattacks (32%). Affecting individuals as well as large and small businesses, cyberattacks have, in recent years, become a growing threat to the security of organizational operations. 

2022 was no exception, recording a record number of complaints filed due to cyberattacks, further encouraging companies to plug the flaws in their systems using a dedicated solution. The example of the deployment of teleworking has demonstrated this: the need for certain technologies can increase and exceed the structural organization previously put in place. 27% of participants also highlight this parameter as one of the factors influencing their decision to embark on the process of acquiring a tool.

Prioritizing Ease Of Use When Evaluating Solutions

When we asked buyers what criteria were most important when evaluating new software, the following were listed as priorities in this process:

  1. ease of use (41%)
  2. the ability to integrate with other technologies (37%)
  3. the cost (35%)
  4. security (35%)

If the factors of cost (35%) and security (35%) are indicated as crucial criteria, buyers highlight the Ease of software use. Not all structures can afford to deploy specific training over the long term to facilitate software adoption: when a company, its employees, or its customers can easily use a tool, this aspect can represent saving time and considerable savings for the organization. Benefiting from interoperability between the different software the company uses is also a significant criterion put forward. 

As the example of the healthcare sector illustrates, ensuring that current information systems, devices and applications work with other existing systems can be crucial: having access to a patient’s file availability appointments to accommodate him optimally while managing the sharing of additional information is essential for a practitioner and relies on the successful integration of different systems.

When Testing Allows You To Become Better Informed

According to our participants’ responses, four to six software programs are evaluated on average by them before finalizing the purchase of new software (49%). At the same time, three to six months are necessary for the majority (48%) to evaluate, select and finalize the purchase of new tools. If, during this process, the specific needs of each organization and the envisaged criteria play a primordial role in the selection of a solution, obtaining the desired information on the envisaged software is of capital importance. 

What sources of information were favored by the companies in our panel to discover the tools arousing their interest? Top sources valued include product testing (38%), expert reviews (32%), and product demonstration (30%). Benefiting from specialists’ opinions can undoubtedly shed light on the potential use of software, just as a demonstration can give an overall idea of ​​how it works. 

However, directly testing software allows a company to practically consider how a tool can adapt to its teams’ daily lives and judge, for example, its Ease of use and integration. Attending a personalized product demonstration before purchasing is also a factor reflected in the type of informative content favored by businesses.

Integration Possibilities Dictate The Final Choice Of Adoption

If several criteria come into play during the analysis phase of the available solutions, some are decisive when taking the acquisition step. Here, we can find specific criteria taken into account during the evaluation phase by the companies questioned, such as the ability to integrate software (40%) or even a financial aspect, such as the possibility of adapting the conditions of sale to how the company wishes to make the purchase (36%). 

If the reliability of sales teams at the time of product testing (36%), their knowledge of the product offered (35%) and the support offered during the evaluation phase (34%) are factors considered necessary, a technical criterion also remains considered central. In continuous technological evolution, integrating and deploying software without going through a complex coding process significantly saves resources and time. This is undoubtedly why flexibility in programming software or open-source options (36%) is highlighted by our panel.

Security Software Is The First Strategic Technological Choice For Companies

Because they represent a significant risk of disruption to their activities but can also affect their reputation and the trust of their customers, cyberattacks are at the heart of companies’ concerns. To face this threat, adopting security software has become a priority. This is what the results of our study highlight, placing this type of tool as the top purchasing choice over the last 12 months for 52% of the companies surveyed. 

While various contextual parameters may have weighed on companies’ financial balance in recent years, they need to analyze their economic health overall. Allowing the collection and automation of financial and accounting information analysis, financial and accounting software (cited by 47% of respondents) occupied the second-largest investment area for companies over the past year. 

The third category among the most purchased software, business intelligence and data analysis tools (46%), can help businesses generate meaningful insights. Because they make it possible to transform an organization’s internal data into a report relating to a current situation and a predictive report, this software can represent support for companies in their strategic decision-making.

What Are Companies’ Expectations When Implementing Software?

The companies in which our panel works would replace, modify or rehabilitate their software much more often (23%) or even more frequently (52%) since the start of 2021. Although some solutions may no longer meet an organization’s needs, inadequate support or the absence of basic features deemed essential can make long-term software adoption difficult from the outset.

Therefore, we consulted the participants on the factors and functionalities that they consider the most important during the software implementation stage. Among the responses of the latter are first mentioned:

  1. flexible workflows tailored to user types (41%)
  2. personalized elements (templates, dashboards) (40%)
  3. a knowledge space for self-training, tutorials (35%)
  4. Access to customer service (35%)

Here, we can observe that the personalization principle occupies an essential place in the critical elements highlighted by the participants. Assigning different roles and access to software users, benefitting from a specific portal, or even reporting models are all examples of this logic. 

A software solution, when personalized, can, therefore, meet the unique needs, preferences, and expectations of a company from the start of the tool and promote long-term adoption. A technical malfunction related to software or a misunderstanding of use can significantly negatively impact a company’s operations. Accessing fast and efficient support, whether provided by a dedicated team or a resource center, can determine the smooth running of software adoption. 

Implementation Difficulties Are A Significant Obstacle To Purchasing For Companies

Although the Search for greater productivity and the desire to protect themselves from growing risks such as cyberattacks encourage companies to invest in acquiring new solutions, fears related to software implementation still prevent some of them from making the necessary purchases. The top reason businesses don’t invest in software is fear of a business slowdown due to a complex learning curve during the implementation phase (40%). This is followed by concerns about return on investment (38%) and possible disagreements between IT teams and the business unit (35%).

Successful Adoption Requires A Thorough Needs Analysis

Whether it’s automation tools based on artificial intelligence, solutions to optimize collaboration between their teams, or even payment processing solutions for their customers, many software can help businesses support their activities. Although there is indeed a tool in the diversity of offers available that adapts to their demands, it is essential to establish a clear understanding of immediate needs and long-term development prospects. Agreeing on an implementation, use and digital success plan that addresses an identified business or operational challenge can help them adopt tailor-made technology. This can also let the service provider know how their solution can help and support them in their selection.

Read Also: Digital Transformation: Challenges & Steps For Companies?

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We are a dynamic team of enthusiasts deeply passionate about exploring cutting-edge technologies. Comprising a diverse group of individuals with a shared zeal, we strive to deliver the most up-to-date and relevant news to our valued viewers.

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