What drives post-purchase satisfaction of budgeting & forecasting software?

Avoiding Buyers Regret – What drives post-purchase satisfaction in BPM software?

Recent results of the annual BPM Pulse survey provide insight into what finance teams are looking for in software – and what makes them most satisfied with software AFTER the purchase.   Interestingly, they aren’t necessarily the same thing.  Here are some key takeaways that just might shift and re-organize your evaluation criteria.

Feature Desire vs. Day-to-day Use

Turns out what draws us into new software might not impact how we actually use that software in our day-to-day. Not surprisingly, services like training and customer support become much more important after we purchase and implement a new system. And many of the cool bells and whistles that looked great during the demo, may not even get used….

Consider that over half of the finance teams surveyed in the 2019 BPM Pulse reported integration with existing systems and financial consolidation features were the most important attributes in their search for a new software solution. Yet more than three quarters of finance teams continue to use Excel to supplement their core system post-purchase (with no apparent impact on reported system satisfaction).

And despite the flashy appeal of self-service apps during the buying process – only 31% of finance execs report accessing apps after they implemented the software.

SaaS Users are More Satisfied

The 2019 BPM Pulse survey found that organizations using cloud-based BPM solutions are the most satisfied with their software (vs. those using Excel or on-premise solutions). And they aren’t alone, numerous studies show an increase in satisfaction for organizations who go the SaaS route.

“DIY” Philosophy Drives Finance Buyers

The number one attribute finance teams require is “financial self-sufficiency”, or the ability for finance teams to easily administer, use and maintain a system on their own – with little (or no) assistance from IT.  (Perhaps just one of the reasons SaaS users are more satisfied.)

BudgetPak from XLerant was the highest rated software provider in post-purchase satisfaction.

Why?  We think it’s a combination of the points above PLUS a critical (but often overlooked) factor: ease-of-use.  How easy a system is to understand and to use – by both the finance team and all the non-financial managers involved in the process – is a key driver of successful software implementation, maintenance, and long-term adoption.

While many of our competitors are focused on adding new features that look really attractive in a demo– we are focused on doing one thing really, really well.  We are dedicated to making decentralized budgeting & forecasting with hundreds of participants – both possible AND painless.  And our approach is working!

Out of a field of 15 BPM providers, BudgetPak was rated #1 in:

  • Budgeting & Planning
  • Ease of Use
  • Customer Support
  • Ease of Integration
  • Overall Satisfaction

BudgetPak was also top-ranked in Financial Self Sufficiency.

A replay of the survey results webcast, presented by Craig Schiff, CEO of BPM Partners, can be viewed here.

About the 2019 Pulse of Performance Management Survey:

Published by BPM Partners, the BPM Pulse Survey provides an unbiased and up to date overview of the world of business performance management. The survey results come directly from each vendor’s “users” or customer base.

 

 

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