Hi everyone, and welcome to our webinar, mastering the SaaS maze. A Buyer's Guide to Optimal Solutions. I'm your host, Karen Rai, and with me I've got my colleague Robbie Perris as well. We're both consultants at Omnitas, and we've both been helping grow the UK side of the business. Today we'll be helping you, the buyer, with the ammo you need to ensure you purchase -the best solution for yourself. -Yes, absolutely. So, um, to set an agenda for today's call, uh, we're first going to start off with the reasons as to why businesses or people, um, actually make bad buying decisions. Some of the factors that come into play when purchasing software that actually cause us to either rush a process or purchase the wrong platform for our business. Once we've identified that, we're going to then move ways into preparing, uh, to purchase our next solution. So hopefully today we can arm you with some, uh, tips and tricks, some questions that you can ask throughout the next stage of your process with, um, when you're when you're shopping the market, perhaps that's for a new CRM or an ERP system or anything along those lines. Uh, the aim of today's call is to better equipped you with that sort of stuff moving forward. Um, and as throughout the whole day, uh, or this whole call, please ask as many questions as you have. Um, or if you'd like to reserve them till the end. We have got a bit of Q&A time coming up, so, um, we can cover it off then. But let's get started. Um, with the first reason, and obviously there's going to be more. So if you want to add to this, um, as to why businesses might make those poor buying decisions. Yeah. So the first one is lack of time to focus on purchasing a solution. So we've all been there, right. Rushing a process, skipping important steps and then going to have buyer's remorse or just simply failing to purchase anything at all. Ultimately, you want to ensure that you've got sufficient time to go through the buying process, whether that's listing your requirements, obviously selecting your vendors as well, running trials, doing testing, doing scoping goals, um, starting access in a timely manner and also ensuring, um, that you've got a minimum viable product. So all these core milestones are going to be met on time. This is simply, simply something which is not going to be possible. Um, if of course, you lack -the time. -Yeah, absolutely. And you know, often we're purchasing these solutions on top of our day to day work. So, um, not accounting for that time when you are shopping around can really kind of put a spanner in the works. Um, it does also kind of lead us into some other points as well. So at the moment, um, there's a lot of influence from marketing and advertising out there. Um, these businesses are trying to, um, offer us our services, these, you know, CRMs, these lead counters, all that sort of stuff. Uh, their budget for marketing is increasing year on year, meaning they're in our eyeline a lot. So, um, being drawn into those kind of activities, uh, can actually cause you to make the wrong decision. You know, it might be something that, uh, you know, you feel can answer an issue you might have in the short term, but actually, is it going to solve anything for us longer term? Um, so, yeah, try not to get swayed by those big glitzy, advertising, billboards and adverts and things like this. Um, often we buy software that's just not needed. Absolutely. So moving on to our next point. So lack of knowledge of the tools available in the market. So there are of course going to be a huge number of solutions out there that can solve the challenges that you're going to face, but ultimately it's going to be about which one out of those solutions is going to be the right one for you. Um, so, you know, as Robbie mentioned, it's really, really easy to be blown away by companies with massive marketing budgets. But ultimately, again, how does that help you meet your requirements? Each vendor, they're going to have their own unique offering with different nuances. It's ultimately going to be your job to find out which ones are going to be the best fit -for you through your own research. -Yeah, absolutely. Um, following on from that, is that fear of missing out, right. So 99% of companies will put in place one of those once-in-a-lifetime, offers to make your purchase sooner rather than later. So trying not to get brought into that too soon when the time might not be right for you if those boxes aren't checked, or you're only kind of 75% confident that the software is going to work. Try not to let these kind of once in a lifetime offers sway you in making the decision, but there is essentially two sides to this coin as well. Right. So one can encourage you to make a hasty decision. But the other side, uh, it can actually benefit you. So if you are ready to purchase, um, and these offers come around, then definitely, uh, definitely take advantage of that. But it could be quite costly if you make, uh, a hasty decision to save a couple of hundred pounds or maybe more. Um, in the long run, if you're not actually going to get the right value from that platform. Absolutely. And just just to kind of add to that as well, I know that a lot of us have experienced fear of missing out. That often leads to, of course, bad purchasing decisions. But but ultimately that can also be because of poor purchasing preparation. Um, I personally hate the phrase, you know, fail to prepare, uh, prepare to fail. But there's nothing more true than that, really. If you haven't prepared yourself for those requirements or you failed to set yourself a budget, you're ultimately setting yourself up for failure. Whether that means purchasing the wrong solution or wasting time, only to end up not purchasing anything. Yeah, absolutely. And I guess kind of leading from that. We now know obviously what makes bad personal decisions or what causes them. Obviously there could be a lot more that we could add to that, but they're just kind of the five prominent ones that we can think of, um, that really do affect that process. So what we want to do is basically arm you guys now moving forward so you can make better decisions. Um, so we've put together a three step process. Um, there'll be other, uh, processes out there that you can follow when purchasing, but we try to simplify it to make it a lot more palatable, um, for you guys to implement every time you purchase software, not overcomplicate things. Um, so basically we're just going to kind of break it down into three easy to follow areas. And the first one is before you get started, um, doing that preparation piece that Kuren kind of left off on there. And preparation is absolutely key to getting the best deal when purchasing software. Um, it's not about just, uh, getting a direction from maybe one of your bosses or, um, even just yourself, um, and going to Google or one of those platforms and searching, you know, CRM system for medium sized businesses, for example. We really need to prepare. We need to understand the business's needs. What are we looking for from that platform? What impacts are we looking for? The platforms have on the business. How long do I see myself using this platform for all of these kind of pre checks that need to happen? Um, should be happening in at the first stage, not as you're working through the system. Um, it also gives you a chance to set a budget, um, for the platform if you've got a bottomless pit. Absolutely. Great. Um, go and buy the best platform you can find. But we know businesses out there actually want to take care of those, uh, that spend and make sure that they can invest in the right platform, but also something that's going to yield an ROI moving forward as well. Um, so this can also be supported by speaking with a consultant. Um, you know, usually they're free. They either work on behalf of the, uh, vendors that you're kind of pitching with or, um, they'll be completely independent. But, you know, they'll know the best software options out there in the market at the moment. They stay, you know, they've got a near close to the ground, uh, with this sort of stuff, but also understand the pricing models, um, that come with each of these platforms and really help you kind of save some time, um, when doing this preparation. And then just the final thing I want to add to that, that first stage is actually put together a team. Um, you know, myself and Kuren both worked, um, vendor side and we've both worked in a consultancy. Um, and often we're only speaking to one person in the business who's in charge of making the purchase, um, and decision for the whole organization. That's quite a burden to give yourself. So make sure there's the team around you from higher up and below. Um, in terms of the people that are going to be using it, what do they want from the system? What are they looking for from, um, a platform in the market? What features do they want? Um, higher ups, you know, what budget do they want to spend? Are they looking to add more use cases to this? So really do build a good team around you when making a purchase, not just, uh, do it by yourself. That brings us on nicely as well to step two of this three step process. So during the sales process, you should of course communicate your needs and budgets clearly to the vendor. Um, ultimately trying to not be swayed by just fancy features. So, you know, as an example, I think we've we've seen this time and time again companies right now they're releasing new AI features. Um, but ultimately, how does that help you meet your requirements? Now, it's important to, of course, stay focused on what will bring value to your business. This will help you come to a conclusion quickly as to whether this is -going to be the right solution. -Yeah, absolutely. You know, be as clear as you can with with the rep that, um, you're speaking with, because they can only do or offer anything based on the information that you're sharing. Um, they can quickly tell you if your budget only reaches a certain amount of service with them. Um, they can tell you where your budget will help you fit within their product. Um, but also, you know, they'll tell you what features and, um, you know, use cases that you can use with your platform to reach your goal. If you're not transparent enough. Um, you might not enjoy that process with the rep because it may feel like they're maybe asking you too many questions or, you know, whatever that might be. But, you know, not everybody's a bad salesperson, so be open with them, um, and try and give them as much information as possible so they can steer you in the right direction when you're looking at the platform. And then I guess it kind of leads us into the closing stages, um, of this stage. So step three is all about. Getting this closed out, you should have all of your boxes checked by now. Everything should be in place for you to understand if this is about software for you, if it fits within your budget, what services and support you're going to be getting with your platform. Um, have you checked it against other systems in the market? You've done your due diligence, basically. Um, and at this point, when people have ticked up or ticked all of those boxes off, they generally just want to get the contract done and jump on. But we want to make sure that when we get to this stage, we don't rush it. Make sure you review your contract thoroughly. Look for hidden costs, contract lengths, termination clauses and basically ensure that it's flexible enough, uh, to kind of cater to your growing business needs. So we want to make sure that you're entering an agreement that works with both parties. Um, and you don't look over, uh, overlook anything in there. So definitely involve other people when looking through this contract with the customer, with the client. And, um, make sure it's the right one for you. I guess it kind of leads us into, some questions that you guys can take away, and actually use as part of your sales process myself, and come and sat down, and we went through, what questions we feel that businesses don't ask us often. Um, both here at Omnitas, but also, um, when we've worked for vendors out there as well. And these questions can actually really steer you towards a better deal. Um, not only money wise in terms of investment, but what you're going to get out of this system as well. Okay. Um, I'll take the first question, Kuren, if that's all right. So, um, the first thing we need to really think about, and this is only top because I think it's super important, but they're not really in too much particular order. Um, is what is the total cost of ownership? So actually asking this question can uncover hidden costs. It can allow you to look beyond the service price, that the vendors are putting in front of you. You also need to think about how much it would cost to implement. Are there any customization costs or support costs moving forward? You want to make sure that what you're paying for is what you get, and not just for, uh, in some cases, the solution and then needing to add -services on top of that. -Perfect. Yeah. And that kind of nicely ties into the next point. Um, how seamlessly can this software integrate with your own current systems? Um, obviously this is also part of total cost of ownership as well. It's going to be a huge sticking point to ensure that the product is going to be sticky within your organization. So, you know, we of course appreciate that. For some organizations, integrations can be a bit of an afterthought once the system is initially set up. But in order for a system to really, really exceed the data that that platform or system produces or collects, it's going to need to feed into somewhere, whether that's integrating with your own email client, ERP, CRM, or business intelligence -system. -Absolutely. And then moving into the next one, I think, you know, basically what we want to be asking is what is the vendor's roadmap for the product development? Quite often people purchase solutions or buy solutions that only fit a certain use case. And as the business evolves, um, other use cases need to be introduced into um, uh, software or what you're currently using. And essentially this will help you stay futureproof with your products that you're purchasing. It will basically make sure that everything's evolving with your business. It's always good to know where the the vendor is heading. Are they planning on adding more products that allow you to consolidate? Um, and you can find this information usually on their website. Um, or they may offer a webinar for you to attend or even pop along to their events because they've generally released some features and updates on their roadmap moving forward there. So definitely one to ask. Um, and it can also allow you to, um, you know, know what's over the hill if you want to expand the product further in your business. Absolutely. And I think another big one as well is going to be around customer references. Um, so. You know, I certainly raise an eyebrow, too, if I'm going to buy specifically a software and the vendor is unable or unwilling to provide me with the customer reference. Um, personally, and also when speaking to customers where we are providing them with customer references, I know it can be a treasure trove of information for them. So, you know, these references can can of course, help you avoid the pitfalls that another customer faced when setting up the system, that it can kind of act like the do's and don'ts of your new system. Um, and they can also help you just determine, you know, of course, whether the system is going to be a right fit for you and your needs. So a really, really important point, especially during the closing stages, um, when you are purchasing a -system. -Yeah, absolutely. And I guess the final one we want to, we want to focus on here is, you know, what kind of support and training will be available to us. So. Businesses will often have customer success managers or training managers. Um, that may come along as part of your purchase of the software. But it's not just about showing you the basics of the platform and kind of letting you go loose with it. You really want to master these tools that you're purchasing, because when you do, you really do ensure that you know you're achieving those the maximum ROI, um, and you'll find it a lot easier, uh, to adopt and implement across the business if you do. Um, so definitely worth asking what kind of support training is available involved. And then obviously going back to that total cost of ownership at the top, you know, if you do need to pay for more services, what does that include as well? Um, and what will be the end result after those uh, that service is delivered and supported. So, you know, it's key to remember you're not just kind of purchasing a product. You are purchasing a solution to enhance the business's, um, capabilities. So using these questions would definitely kind of help you flip the script. It's not just about fitting into a sales process, it's about making this process work for you as -well. -So, um, how can someone like us consultants at Omnitas, help? So you can see the quote just right above there. So involving a consultant when purchasing a software isn't just a luxury, it's a strategic move. Um, personally, I completely agree with this. You know, consultants, they know the competitive landscape inside and out. Um, typically they've worked with hundreds of different types of clients, some of whom they're going to be similar to, uh, yourself. And the use cases that you also find, um, typically, like us, consultants, also come from smaller sized organizations with a higher concentration of technical expertise when compared to the vendor themselves. So, um, you know, typically as well, because of that, um, we're also able to service substantially less clients than the vendor. But the plus side of that is that consultants can therefore spend more time with the actual clients themselves. Yeah. Often that word consultants. Quite a scary word. But, um, you know, they're there to support you. They're there on your side of the table, essentially working with you, uh, to get the best outcome. Um, so we just kind of highlighted a couple of benefits, uh, of, you know, employing a consultant to help you purchase a software, whether it's CRMs, whether it's a lead management software, um, or lead capturing software, sorry, or an ERP system, whatever that might be. There's always experts in the market that are there to essentially help you with that sort of purchase and answer any questions that, uh, the vendor might, you know, sometimes skirt around as well. So, you know, these guys are experts. You know, they know the market. It's a it's a jungle out there. These guys know the terrain. They understand the nuances, uh, the hidden pitfalls that you might come up against. Um, but also, more importantly, the best path to get you to where you want to be. Um, their knowledge is essentially your competitive edge when you're in negotiations, when you're talking to vendors. Or they can work on behalf of the vendor as well to support, um, the relationship between both of you as well. So it's really good. Um, and I guess, you know, these all kind of lead into each other as you read them. Um, the next one is cost effectiveness. So a consultant can actually help you identify the right software that offers best value for money. Um, and as we've identified before, they know this market inside out, which is often the reason why they can stay away from those costly mistakes. Um, and we've we tie this back into the reasons why people make bad decisions. You know, consultants, um, are quite good at staying away from the glitz and glamour of that marketing and advertising side of things. And, you know, only choosing a software because of the size of their marketing budget. You know, these guys have generally years and years of experience. They have a great team behind them and can really guide you in making sure you're investing your money wisely. Um, with the software, not just kind of wasting it on a kind of big platform, as it were. And then the next one is, is time saving again, linking it back to bad decisions, um, that people, uh, or bad reasons why people make bad decisions. Um, the time you spend researching, uh, the time you spend, um, you know, googling and this sort of stuff and comparing and negotiating and all of that sort of thing can actually be cut down quite significantly by involving a consultant. They essentially do all the legwork for you, get all the information that you need and require so you can focus on what you do best in your day to day. Um, and, you know, all of these sort of things. Just do circle back to that quote. Um, and it's a fantastic quote. Uh, the current takes off at the start there, but involving a consultant, um, isn't a luxury is definitely a strategic move. And if you haven't worked with a consultant yet, explore that option. Um, and you'll often end up in a better -position with your software afterwards. -Guys. I think that's going to be a wrap then. So, you know, although I'm pretty sure I'm pretty confident that some of these points are probably quite obvious to yourselves, it's always worth having some of these points front and center, especially when making such a strategic decision for your business. Um, so guys, thanks so much for your time today and we do hope you've taken something away from it. Thank you very much. Yeah. Thanks for joining, guys. And if you do need anything, please reach out to us, um, via email, which is Robbie @omnitas.com or Kuren@ omnitas.com. And we'd be happy to either go through this again with you, or talk to you about any services that you might require, um, moving forward. Great. Thank you.