Maximizing Your Software Investments: Strategies for Long-Term Success
Squeeze the most out of your new and existing investments
The amount that organizations spend on software worldwide is projected to surpass $1 billion in 2024 — over 25% of all IT spend — with an additional $1.5 billion on IT services alone.
With that amount at stake, and nearly half of all companies keeping budgets flat this year, it’s important for leaders to understand how to squeeze the most out of their new and existing software investments.
Software companies know how to sell — very well. Which is why, even with flat budgets, organizations on average have close to 300 applications in their technology stacks.
The value from software is only realized after go-live. But many organizations are so focused on implementation, they fail to adequately plan for the next stage of the software lifecycle.
When planting a seed, don’t forget to plan how you’re going to continually irrigate and prune it at the right times, and in the right amount.
With a solid plan for continuous development and enhancements, organizations can get more out of their software, and help shore up budgets by ending the all-too-common cycle of companies wanting to replace SaaS platforms — often because their existing one simply wasn’t given the attention it deserved post-implementation.
This ideal state may seem hard to achieve, but in this article, we’ll provide you with some tips on how to get there.
Whether you are doing the implementation in-house or relying on an implementation partner, be sure to discuss what “life after go-live” will look like during the implementation planning phase. These discussions should include:
- Resource planning —What are your short-, medium-, and long-term objectives for the platform post-implementation, and do you know what skills and people you need to realize that vision? Not only for keeping the lights on, but for continuous platform enhancement as well.
- Process review —Do your workflows and standard operating procedures allow for efficient intake and execution of requests?
- Adoption — New software can be challenging for personnel to adopt. Is your organization set up for success in embracing this change and operating at the highest level?
- Training strategy — For both existing members of your staff and any new personnel who may join in the future, do you have the materials and expertise to bring them up to speed quickly on the platform to use it as effectively as possible?
If the above list sounds overwhelming — you’re not alone. Organizations regularly struggle with skills gaps, resource constraints, and difficulty keeping up with rapidly evolving technologies.
At Slalom, we’ve seen a marked increase in the number of organizations turning to us for a managed services arrangement for their technology platforms. By leaning on us, or other solution partners, organizations gain access to a scalable and flexible team of experts with specialized skills, allowing them to more fully realize their vision and the potential of the platforms they have invested in.
Bringing in platform specialists allows you to focus your internal resources where they’re needed most — on your business. Maintaining an in-house team with cutting-edge skills in each of your core platforms is costly. With managed services, you gain access to a deep bench of talent across domains for a predictable investment.
Your technology investment was likely made with particular goals, processes, and scenarios in mind. But business needs evolve. Managed services partners proactively analyze platform data and user experiences to identify opportunities for enhancing efficiency through new features, integrations, or process optimizations you may have overlooked.
Whether you are implementing a new platform or have many existing ones that are not operating at the optimal level, use the steps above to help kick-start relevant discussions within your organization. Reach out to a partner like Slalom if you need that extra helping hand to truly accelerate the success with your platforms.
Slalom is a next-generation professional services company creating value at the intersection of business, technology, and humanity. Learn more and reach out today.
