Ensuring a quick return on software investment
To ensure a speedy return on investment, one must delve into and learn everything about the software and use all its features. Finding a company that offers live training to help set up and run the software is key.
One should start evaluating options by asking other pool and spa businesses about their software providers. Trade shows, distributor open houses, and buying group meetings are good opportunities to investigate solutions used by industry professionals.
Once a few options have been identified, one can go ahead and make a list of must-have features to ensure the new software solution can accommodate their needs. Remember to inquire about the cost of training and support services to install and run the software and its maintenance charges.
Prior to researching solutions, it is important business owners and professionals consider what they currently have and what they are looking for in a new system. Implementing new software can improve efficiency, accuracy, and save company expenses in the long run. Today, there are many programs that can manage all business processes from sales to purchasing. One must look for an option that can collect data in a system and provide accessibility anywhere, anytime.
When considering the cost of purchasing new software, one should not be intimidated by its price. As mentioned earlier, all business owners realize they are missing revenue opportunities in multiple areas of their trade. Rather than focusing on the software’s price, one should prepare a list of areas where one could generate more revenue if employees had 20 additional hours a week to follow up on sales leads, make additional service calls, or attend to customers in the store. Then check with the software provider if the solution will help capitalize on these missed opportunities.
For example, many software solutions offer built-in features that will immediately generate revenue. The ‘related items’ feature prompts a sales associate to ask their customers if they wish to buy items that supplement their purchase. For example, a ladder mat with every ladder, an additional scoop to measure diatomaceous earth (DE) with bags of DE, a scum mitt with a wall cleaner, a clarifier with floc, hose clamps with filter hoses, etc. Imagine the impact if for six months a year the staff up-sold items with a $5 profit to 15 customers a day—one could increase their profit by more than $13,000.
Many software providers offer route optimization features that allow service companies to lower fuel usage and reduce maintenance costs. Business owners have also found optimizing their service routes enabled them to perform more jobs in a day, generating additional business.
For employees, a new software solution can eliminate printing, stuffing, and stamping accounts receivable (AR) invoices. With a new program in place, invoices can be e-mailed in bulk or credit cards can be kept on file for batch processing.
A simple ‘back-of-the-envelope’ equation can help determine the break-even point for purchasing new business software. Overall, streamlining processes and procedures can also save time and money, allowing a business owner to quickly recoup the initial investment and improve their operations at the same time.
