Beyond the Numbers Blog

What You Should Expect From Your Software Vendor

Posted on March 15th, 2015

Satisfying your customer expectations is how we all stay in business. But to thrive, a software vendor needs to go above and beyond just what a customer expects and deliver service that they will love. From our ten plus years working with clients, here’s what you should ask your software vendors about in order to get outstanding service.

Be Their Partner, Not Just a Vendor

A lot of vendors stop calling you after you’ve bought their software. It can make a person feel a little jilted, like they don’t matter. But each client does matter. When you succeed, your vendor succeeds. A vendor who recognizes that their success rests on you will deliver software that helps you in the long run.

If you work towards joint goals with you clients, you get a twofold effect: they appreciate your help and they stay in business longer. This partnership approach, where you succeed or fail together with your vendors, can take work. But a relationship that works great for both parties means that both will try to help the other succeed. Not only does your vendor get a happy, long term client, you get a stable vendor that will continue providing the same great software you rely on.

Focus on Outcomes

Vendors want their customers to have constant positive experiences using software. But to keep up in a changing market, vendors need to continually adapt both their product and company. But change is hard, especially when that change affects how you do your job.  That’s why you should choose vendors who focus on developing software and support that helps their clients achieve their goals.

You’ll recognize an outcome-focused vendor when they keep asking your opinion, when they want to know whether the software meets your needs. A vendor who constantly monitors your satisfaction will use those metrics when making changes.

Give Them Room to Grow

The goal as a vendor should be to help you succeed. But sometimes that’s a double-edged sword. What if you grow to where their software no longer can keep up? What if they can’t support you with their current resources? Can you scale up your licenses without impacting your bottom line? Your vendor should have the flexibility to accommodate a growing business built in to how they operate.

When you grow, your software vendor needs to be able to handle that. Their software and support have to be scalable from the beginning. They know the size and scope of your business and have a plan to handle your growth by testing their weak points and shoring up the cracks.. Straight-line growth is easy, but when a business scales up, complexities arise. Your vendor should be robust enough to not only handle volume, but the new business needs that come from growing larger and more complex.

Develop with Industry Knowledge

You don’t just need software. You need a vendor who understands your industry well enough to understand your problems. They can provide knowledgeable support, expert consultants, and insightful materials that connect their software with how you do business. And that means you get the most value out of the partnership.

Here at FundCount, we understand how your industry works, whether you’re a hedge fundfund administratorfamily office, or private equity firm. Our software solution helps you get the results that you need.