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The Importance of Choosing an Industry-Specific Software Platform

Cristina MaciasBy Cristina MaciasApril 19, 2022No Comments3 Mins Read
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The Importance of Choosing an Industry-Specific Software Platform
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Many small to midsize enterprises struggle to expand due to the use of old software and fail in their digital transformation with poor platform selection. Out of date systems cause employees frustration as they don’t fit today’s demands and fail to satisfy customers’ needs. Any of these issues can create catastrophic situations resulting in an unsustainable workforce turnover, a failure to develop the business or a disastrous customer retention ratio.

A considerable number of enterprises are endeavouring to revise their systems and select the correct software platform to ensure future success, but there are many hurdles. The platform selected needs to align with the needs of employees, customers and other stakeholders in the business as well as be integrated effectively as part of a cohesive strategy for growth.

So what are the main factors to consider when deciding between different software platforms?

Provider Relationship

You will hopefully be entering into a software platform relationship that will be sustained for many years to come. An inadequate professional relationship with the platform provider can make operations unpleasant and deteriorate business growth and stability.

The iGaming or online casino industry is a prime example of a sector of business that requires an operational provider relationship and those tasked with selecting igaming platforms will need to give serious thought to the future relationship with the selected provider. Quality providers will offer fully customisable and ready-to-go online gaming platforms as it’s an industry that changes rapidly with technological advances and therefore the platform provided needs to be customisable and built for growth. If it’s decided that accepting cryptocurrencies is now essential to continue as a profitable online casino, is the relationship there to make the necessary changes without delay or disruption? 

So, ensuring future needs are going to be catered for is essential, but so is feeling comfortable with the platform provider. Having a good working relationship means knowing who you’ll be dealing with and finding them amenable and approachable. Viewing or seeking out customer references can be useful, but defining the criteria required for the relationship in advance will be advantageous in the decision-making process.

Price 

An obvious starting point with any business decision, but there are specific considerations with the pricing structure of a software platform. Pricing can often be subscription-based and you need to conduct due diligence to ensure the provider isn’t going to enforce an outrageous price raise when renewal time arrives. Software that is based on user licenses can become a mounting cost as additional users are added, sometimes at a much higher price than the original users. The same pitfalls await for software costs based on usage and how usage is calculated and can be managed is critical.

If tiered pricing is offered through numerous packages with various combinations of features at different prices, a thorough evaluation is required and the ability to switch tiers would be desirable. The tiered pricing model can feature a freemium business model that will allow you to try the entry-level tier and then make a more informed choice about adding paid packages.

Relationship and pricing are the two standout factors to consider in choosing the right software platform, but you should never be afraid to ask potential providers hard questions and demand demonstrations. Businesses can’t succeed without the right tools and your software platform is a major instrument for your business needs. 

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Cristina Macias
Cristina Macias

Cristina Macias is a 25-year-old writer who enjoys reading, writing, Rubix cube, and listening to the radio. She is inspiring and smart, but can also be a bit lazy.

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