As your business grows, it’s important to regularly assess whether your current software-as-a-service (SaaS) vendor is meeting your needs. Some factors you might want to evaluate periodically are whether the vendor is able to scale with your business, provide the resources you need, and offer the level of support you need — and if the answer is “no,” it might be time to switch to one. new supplier.
To help you understand whether you’ve outgrown your current SaaS vendor, a panel of Young Entrepreneur Council (YEC) members answered the following question:
“What is the signal that can help you determine whether or not your company has outperformed a particular SaaS vendor, and what should you do after making that determination?”
Here’s what members of the YEC community have to say.
1. The software no longer meets your business needs
“Evaluate whether the software and services meet your current needs and can scale with your growth. If you’ve outgrown them, research new vendors, compare features and prices, and plan for a smooth transition to minimize disruption. Dig deeper into total cost of ownership — it’s not just the price of admission. Add in implementation, data migration, legal and training costs, and other costs associated with moving.” ~ Devesh Dwivedi, Devesh Dwivedi
2. The diversification of services becomes necessary
“When starting out, you only need basic software like Excel to manage day-to-day operations and a small number of clients. However, more customers increase opportunities for service diversification. This usually means the need for more features in the commercial software. Consider specialized, high-value software that comes with cost-saving strategies.” ~ Tonika Bruce, Lead Nicely, Inc.
3. The costs start to outweigh the benefits
“One way to determine whether your company has outperformed a particular SaaS vendor is by looking at its usage and ROI. If the supplier no longer meets your needs or the costs outweigh the benefits, it’s time to buy a better fit. Once you make that decision, research other options and make a plan for a smooth transition.” ~ Abhijeet Kaldate, Astra WordPress theme
4. Inefficiencies begin to develop
“One of the most persistent issues companies face is integration with their SaaS applications. With so many different SaaS applications on the market, it can be difficult for companies to find solutions that work seamlessly together. As a result, many companies struggle to connect their various tools and platforms, leading to inefficiencies and lost productivity.” ~ Kelly Richardson, Infobrandz
5. You repeatedly run into problems with a vendor
“We recently did an exchange with one of our suppliers. This decision was driven by a major data leak that affected many companies and people, and it was not the first time. Fortunately, there were plenty of alternatives available and we switched. If you are experiencing problems with a supplier repeatedly, consider this a sign that it is time to research and switch to a new one.” ~ Syed Balkhi, WPBeginner
6. Other solutions are offering better benefits
“One of the best ways to make an informed decision here is to compare the current solution with other existing alternatives. If other solutions offer better features than what your technology stack currently includes, then it’s time for you to consider a replacement. Once you’ve made up your mind, the next thing you should do is evaluate other options in terms of the features they offer.” ~ Stephanie Wells, Formidable Shapes
7. The supplier is not innovating
“Check if they are adding new integrations or product features. The best SaaS providers consistently evolve their platforms to deliver more value to their customers. In some cases, you can integrate their tool with other apps or access new features they release, right on top of your existing license. If they are not innovating, chances are their competitors are.” ~ Firas Kittaneh, Amerisleep Mattress
8. The pricing model is no longer satisfactory
“Assess how the vendor’s services meet your changing business needs. For example, if the vendor’s pricing model or feature list no longer meets your current requirements, it might be time to look at other vendors. Once you’ve made that determination, create a list of criteria to compare potential vendors and find the best fit for your business.” ~ Andrew Munro, AffiliateWP
9. Customers give negative feedback
“Are you getting feedback from customers that their processes related to software or a software derivative are impaired? This is an easy way to know it’s time to move on. Also, be communicative with your vendors on the roadmap that may or may not exist to resolve these customer concerns. Vendors may be working on new plans to resolve issues.” ~ Matthew Capala, Alphametic
10. The supplier does not provide enough customer service
“I believe the best measure is to measure the customer service you are receiving. If customer service is lacking, it may be time to switch vendors. Once I realize this is the case, I look for other vendors who can provide better support. I also check their security standards, features, pricing, and ease of use. All these factors play an important role in finding the right SaaS provider for my business.” ~Blair Williams, MemberPress
Image: Envato Elements