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If you’re a small business looking for software, you probably set aside a rough budget to buy and operate it. But there is a significant hidden cost to software that you may not have considered…
Upfront and ongoing costs of your chosen software package are only part of the picture. There is a significant cost to the process of choosing software.
Imagine adding $30,000 to the cost of your timesheet system. That’s exactly what happened with one accounting firm we spoke with recently.
We often hear that small businesses spend 3 to 6 months choosing software. The person-hours consumed over this time are substantial, so software selection has a significant “real” cost (i.e. salary paid to those people) as well as an “opportunity cost” (i.e. cost of not doing other things because they were busy with this).
For example, we met with an accountant yesterday who told us his firm recently chose a combined timesheet / project management system. It took 6 months of calendar time to make the choice, with a reasonably senior person spending 60 hours working on it. Given a typical client charge out rate of $500 per hour, choosing software cost the firm a staggering $30,000 in opportunity cost. On salary costs alone, they probably spent $3,000 paying staff to select software.
Choosing business software is an important decision. You don’t want to get it wrong. The challenge is how do you make the right decision on software, more quickly?
That’s where Software Shortlist comes in. By using our online comparison service, you can dramatically reduce the time required to find a shortlist of the most relevant software. The ultimate decision is still yours, but seeking our help can significantly reduce the ‘hidden cost’ of software selection. What’s your time worth?
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Good news. We’re off to Silicon Valley to explore opportunities for Software Shortlist in the US market and to pitch the business to an audience of industry experts. It’s all part of the ANZA Gateway to the US Summit.
While we’re there, we are setting aside time to meet with executives from organisations interested in partnering with us.
There are still some slots available if you’d like to meet. We are seeking partners to help us reach a large number of small businesses. In return, we can offer a range of benefits, including useful content, discounted access to services, co-promotion opportunities, and more. Sound interesting? Let’s talk…
Our recent press release about the trip is below:
Software Shortlist will soon be exploring inroads to the US market through ANZA Technology Network’s Gateway to the US Summit.
Culminating in a 3 day event in Silicon Valley in early October, the ANZA Gateway to the US program helps connect innovative Australian companies with potential investors and business partners in the world’s largest market.
As its name suggests, Software Shortlist helps small businesses make better software choices by providing a shortlist of relevant options. Their online software comparison service dramatically reduces the time and money that businesses spend choosing software.
Software Shortlist co-founders Craig Westcott and Xavier Russo will both attend the event, which includes a five minute pitch and various networking sessions and business forums.
“Making a major impact in the US is a top priority for us. The US is home to many leading software companies and over 25 million small businesses,” said Craig Westcott.
While in Silicon Valley, the two founders have set aside time to meet with executives from organisations that are interested in partnering with Software Shortlist.
“We will be talking with organisations that reach large numbers of small businesses and want to help them boost productivity by applying the right software,” said Xavier Russo.
The Software Shortlist team will be in Silicon Valley from 3rd to 11th October. To arrange a meeting or to find out more, please email partners@softwareshortlist.com.
About Software Shortlist
Software Shortlist helps small businesses choose the right software. Services include a free software directory, online software recommendation and comparison tool, articles and publications, and independent software selection consulting. Software Shortlist gratefully acknowledges the support of the Australian Government’s “Commercialising Emerging Technology” (COMET) program. For more information, please visit www.softwareshortlist.com
About ANZA Technology Network
ANZA Technology Network is the leading independent organization connecting the Australian, New Zealand and US technology and biotechnology sectors. Through its Gateway and Fast Track to the US programs ANZA has assisted hundreds of Australian and New Zealand companies as they enter the US market—more than any other non-government organization. For more information: http://www.anzatechnet.com/
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Despite the compelling business case for software and a host of readily available solutions, unfortunately small businesses are not leveraging software applications to the extent they should.
Why is this? Over the past 2 years, we’ve spoke with a large number of business owners and we keep hearing the same reasons. Put simply, small business owners are busy – they simply don’t have the time or resources to properly investigate new software for their business. Many also find IT to be intimidating, and may lack the expertise and knowledge to make sense of the possibilities.
The end result is that far too many small businesses do one or more of the following:
Keep using inefficient manual processes, work-around methods, and legacy systems,
Defer or postpone their plans to review their business processes & software
Make a risky leap of faith decision from a referral, brief Google search or prior experience
Reinvent the wheel with a custom-built solution at 5+ times the cost of buying off-the-shelf
Despite the compelling business case for software and a host of readily available solutions, unfortunately it is clear that small businesses are not leveraging software applications to the extent they should.
Why is this? Over the past 2 years, we’ve spoke with a large number of business owners and we keep hearing the same reasons. Put simply, small business owners are busy – they just don’t have the time or resources to properly investigate new software for their business. Many also find IT to be intimidating, and may lack the expertise and knowledge to make sense of the possibilities.
The end result is that far too many small businesses fall victim to one or more of the following pitfalls:
- Keep using inefficient manual processes, work-around methods, and legacy systems,
- Defer or postpone their plans to review their business processes & software
- Make a risky leap of faith decision based on a friend’s referral, brief Google search or limited prior experience
- Reinvent the wheel with a custom-built solution at 5+ times the cost (and often with less functionality) compared to buying an off-the-shelf platform
What has been your experience? Have you seen these pitfalls up close? Are there others you would add to the list?
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Note: Helping SMBs avoid these pitfalls is what motivated us to start Software Shortlist in the first place. If you’d like some assistance in choosing software for your business, why not get in touch with us about our independent consulting services?
