CapEx versus OpEx: What’s the Best Way to Fund Your Software Purchase?

Software Purchase CapEx vs. OpEx

The sheer number of EHSQ software solutions in the market can make the software buying journey very complex. In addition, getting buy-in from internal stakeholders can be equally as challenging. With the introduction of cloud-based or software as a service (SaaS) options, where the licensing component is considered an operational expense, comes an additional consideration: whether to view the expense as a capital expenditure (CapEx) or an operating expenditure (OpEx).

Purchasing EHSQ software–and this is true of most large procurement projects– requires a lot of research and preliminary work to ensure that you are making the best long-term decision. Not only can the process be long and arduous, there are also many factors to consider and many scenarios to examine. In fact, when it comes to deciding which software solutions to select, technology and technological capability are merely one aspect of the final decision. As such, one of the most important … Read more...

Why are Only 30% of In-house IT Projects Successful?

EHSQ Software IT Projects

According to Peter Drucker, the renowned business author and educator: “Wherever you see a successful business, someone once made a courageous decision.” That’s not to say that courage alone is the answer—extensive research, forecasting and scenario planning all play a role in making business decisions. In fact, when it comes to purchasing software, especially EHSQ software, there is much to consider and much at stake.


The Buy vs. Build Debate in the Post-Pandemic Landscape


In the software development world, the buy vs. build debate is still strong. With rising costs of doing business, mounting customer expectations and disruptions to operations, leaders are faced with the decision of whether they should build software in-house or buy it externally. Interestingly, businesses based in the U.S. spend nearly $300 billion per year on in-house solutions. Within these, however, only 30% of in-house IT projects are successful.


So Why are So
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Delivering Business Value by Speeding Up the Software Solution Selection Journey

In the past, when organizations would consider making large infrastructural or software investments, the process involved an extensive research process followed by continuous back and forth between the parties who were proposing the investment and the decision-makers. In fact, the buying process could take anywhere from months to years.

But those were different times.

With the pace of business today and the various business models in market, decisions can be made in a fraction of the time.


The Evolution of the Software Procurement Process in the B2B Space


Due to the material advancements in software in the past decade or so, there have been key changes to the “software buying experience” in the corporate world. They can be summarized as follows:

  • The introduction of the SaaS (software-as-a-service) model now allows potential buyers to experience free trials, which lessens the guesswork and risk of the final decision.
  • The accelerated
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How to Answer Your IT Department’s Questions about Your EHS Software Project

If you’re thinking of purchasing EHS or quality management software, you’re likely already sold on the many benefits an automated system can provide – simplified compliance, reduced risk, and easier tracking and reporting are just a few that stand out.

But while you’re getting excited about all of these benefits, your IT department may not yet be on board with your vision. That’s because, as we mentioned in a previous post, your IT department has their own set of criteria when it comes to evaluating software. They’re concerned about things like integration, implementation, and the demands that this software purchase will place on them.

Addressing Your IT Department’s Questions and Concerns

Your software project is much more likely to be successful if you are able to establish a good working relationship with your IT department. Chances are that your IT coworkers have a lot of people vying for their … Read more...