U.S. Businesses Have a Bad Track Record When Buying Software
Summary
The primary reasons for their regret included the software being more expensive than expected, challenges onboarding and training new users, and vendor-related issues such as a problematic handoff between sales and implementation teams or poorly managed expectations. Fifty-six percent of those with regrets described the financial impact of their decision as “significant” or “monumental.” In addition, 41% said their bad purchase made them less competitive, while 38% said it led to productivity loss. • Better Understanding of Total Cost of Ownership: The top driver of regret is price, specifically when the software turns out to be more expensive than expected. Beyond licensing costs, buyers should keep in consider add-on fees such as setup, data migration, user training and customer support. “The fact that most U.S. businesses are making regretful purchases points to flaws in how they find and evaluate software,” said Capterra Principal Analyst Brian Westfall.