Enterprise technology and software companies are constantly evolving. In the face of increased competition, technology companies in the B2B sector can struggle to increase their sales funnel and remain competitive.
So what are the prerequisites for a successful software company? What basic tips are needed to be successful in our growing competitive environment? We want to share our “VOX ISM’s Software Technology Formula” on how to be a successful software solution provider company! Below is our basic list of tips for your business success. We believe you will want to include them in your organization.
1. Know Your Market
Every company should learn more about their customer. Who are they? What and when do they have the pain you are solving? Why are they having this pain? Are there other solutions that address this? What does it cost them – time, money, hassle, or resources?
2. Know Your Product
Technology and industries are always developing; hence, software companies must make sure their employees are well trained on the product/technology they sell. This will also provide an incentive for your employees to stay on the learning path. At VOX ISM, we believe that training consistently sharpens focus, which gives the best possible by-product: productivity.
3. Provide a Complete Package of Professional Services
Every project is different and has unique requirements. It is crucial to create an interdisciplinary team with the right mix of skills for smooth and successful execution of every project. The project team should be able to deliver what has been promised by the sales team. Hence, conventional resource allocation is essential.
VOX ISM understands each of their customers following insights: organization structure; their context, goals and challenges. Therefore, Vox ISM selects targeted software implementation and training programs that deliver the best results for their customers.
4. Stay Committed to Your Customers’ Success
Besides signing up new customers, the primary goal of a software company should be to grow its recurring revenue from existing customers.
At VOX ISM, we have a customer success team led by Account Executive, David Barsanti, who continuously monitor our customer requirements, send them product updates and satisfaction surveys and make sure they are completely satisfied with our products and services. Below is the VOX ISM’s Customer Appreciation Event recap video. The event was held last year in November at Living Arts Centre, Mississauga, Ontario.
5. Constantly Monitor Your KPIs
The most crucial measurements for a software company are monthly recurring revenues (MRR), churn rate, customer acquisition cost ratio, cash flow, customer lifetime value, and average MRR per salesperson. At VOX ISM, our team uses Microsoft Dynamics 365 software – a collection of intelligent business applications to manage our operations, sales, customer relations, and finance allowing us to stay ahead of our competition.
Learn how Microsoft Business Software Solutions can help your business. Join us on February 20 at Microsoft Canada HQ in Mississauga from 1:30 PM until 3:00 PM. Discover how Microsoft Dynamics 365 can bring the best out of your business.
Click here for complete event agenda.