The Procurement Myth
The procurement of technology in the IT sector is heavily influenced by marketing, causing the product’s merits to be partially ignored. Now’s the time to break away from the typical way large corporations have been selling enterprise software while making millions with mediocre products and long release cycles.
The myth is that you can’t get secure, reliable enterprise software with the necessary features without paying at least seven figures. However, quality software doesn’t always require a lot of money; especially now when technology is a great equalizer and enabler.
The Remarkability of Customer Experience
Procurement in the IT sector is highly specialized. It’s easy to give in to big names when buying a product. The nature of procurement is more than just purchasing; it’s about making sure technology adds value and has a measurable return on investment. You need to know revision cycles will meet the fast-paced world of customer expectations.
Most enterprise giants spend large amounts of money & resources to maintain their status in the industry. They don’t drive innovation but only refine tastes acquired through wining, dining, and fancy conferences. Their time and resources are spent on maintaining market value rather than delivering the best product. Smaller companies, like Locobuzz, focus on cutting costs and improving the performance of products by creating software better suited to the needs and wallets of businesses.
The Drawbacks of Buying Software from Enterprise Giants
While different enterprises may have individual challenges/advantages, two constant drawbacks remain:
- Release Cycles
The pricing models of enterprise giants lack transparency. Millions of dollars are spent on marketing rather than product development; the consumer is left paying the bill.
The other important factor to consider when procuring technology is speed. Expensive technology falls short in delivering at a fast pace when it comes to making new features go live.
Brands must reimagine how to get more value out of the software industry! The rapid strides have led to better, faster, and cheaper technology to monitor, analyze, and manage Consumer Response & Experience. It has changed the game, and now’s the time to revisit how you’re buying your software!