Value of Investing in Software

Businesses love to throw money at sexy investments. The Italian steel all-in-one coffee maker, destined to become the jewel of the breakroom. The new office building, that finally offers those nap rooms that everyone has been craving. While it may not be as glamorous, many overlook the simple, intrinsic value that comes from investing in software.

Investing in software used to be more of a hassle. You would spend $400, grab the lifetime software license, and hold onto it for dear life. The license installation made the computer precious, as you had to carry it with you to access your information. Unfortunately, the restrictive licensing model meant that once the software maker stopped supporting it, you were out of luck.

The rise of Cloud Computing offered a new way to look at and invest in software. Now, with the Cloud, you can easily access your documents from anywhere. You no longer are shackled to a stationary desktop, hoarding your locally saved documents like precious treasure.

Cloud software also allowed for new methods of licensing. Now, with the rise of software as a service (SaaS), you can easily only buy the licenses you need for software. If your software provider stops supporting it or you find something better, it’s a lot easier to switch to a different SaaS license.

We previously covered how to tell if it’s time to transition to a new software. This ability to switch is important these days, as advancements in technology means changes in code, library updates, security patches, and hosting services, causes tools to quickly go out of date.

“If you want a current piece of software you are going to use for a period of time, you have no choice but to update it,” said Matt Fratzke, In Time Tec Executive Vice President and Product General Manager. “Because if you don’t choose to do it, someone will choose for you.”

The rise of the SaaS model allows for the customer to demand more from the provider. If your software isn’t being updated, you can and should take your business elsewhere. There are plenty of businesses who pride themselves on their software and will actively work to keep your business.

“You’re either investing in software and it’s growing and keeping up and getting better,” Fratzke said. “Or it’s slowly deteriorating and becoming obsolete.”

The first step of deciding on whether it’s time to invest more in your software is to examine its current capabilities. Does your software mesh well with other software you use? Could it use more inputs? Or even be localized to a new language? The range and ability to customize software is worth exploring, as it could save your company time and money.

“You always seem to find there’s new features you want to add to the product,” Fratzke said. “There’s the ‘Wouldn’t it be nice ifs’ or ‘Geeze I Forgot About that.’ Things that you don’t know when you create it.”

In Time Tec deals with software in all shapes and sizes, spanning from educational software to managed print services software (Cartos Suite). We take pride in all of our software services, offering ROI or you don’t pay.

For Cartos Suite in particular, we take the time to ensure that our information is current, and the software is meeting customer needs. The entire MPS cloud software suite runs on our unique device. This aims to combat a recent emerging MPS trend emerging of software abandonment by companies who no longer wish to support their products.

Read more on how In Time Tec can help you with your software needs