We have been in this worldwide COVID-19 crisis for almost a year now. Most of us have found our way through trial and error where others are still struggling. An interesting question is how well your current software vendor is doing. Do they benefit from the greatly increased demand for digitisation? Or do they find it difficult to keep up with today’s fast innovation pace?
If there’s one thing that we’ve all learned during this crisis, it is that IT keeps our society going. Whether it is working from home office, digital consultation with doctors or e-learning for our children. This is of course also the case with business applications. Companies all around the world are forced to make the most of their solutions.
With that realization, the question arises how your vendors are doing these days. And how well they are weathering the crisis. After all, the success of your operation relies more and more on the support, strategy, financial performance, innovation and continuity of your vendor.
Here’s a list of relevant questions that you use in the conversations with your vendors. Their answers will help you to get a better insight in their current position. And more importantly, in their ability to continue their support for your technology, business processes and performance in the near future.
- What was your total turnover in 2020? How does that compare to 2019?
- What was your net income in 2020? How does that compare to 2019?
- How many employees did you have by the end of 2020? How does that compare to 2019?
- How many new customers did you win in 2020? How does that compare to 2019?
- How many customers did you have by the end of 2020? How does that compare to 2019?
- What is your R&D budget for 2021 and what is the trend in your R&D expenses?
- Do you have an up-to-date product roadmap – ideally a publicly accessible one?
- Do you have a strategy to move from today’s single category ERP/CRM products towards a platform approach?