October 6, 2023

More and more retailers are looking to replace their legacy systems to keep up with an ever-changing and increasingly competitive market.

But the retail management software selection process is a complex and costly endeavor, and on top of that, the software you choose will impact your business’s operational effectiveness for the next 5-10 years.

So how can you feel confident that you’re choosing the most suitable software for your business? The
first step is to put in the work. All too often, businesses don’t take the proper time to plan or assess risks, and as a result too many new implementation projects don’t fulfill the right requirements or expectations. This mistake is more common than you might think: McKinsey estimates that more than 70% of all digital transformation projects result in failure.

To avoid this risk, before you select new software for your retail business you need to understand what you want the software to achieve and have access to the appropriate resources and information. And you need to know what errors to avoid

Here are 7 all-too-common mistakes that retailers make during the business software selection process.

1 - Believing that all retail management solutions are all the same.
2 - Starting the process with a fixed idea of what you need.
3 - Leaving the selection process to the IT Department.
4 - Deciding that cheapest means best value.
5 - Tightly controlling vendors to decrease costs.
6 - Giving too much importance to the demo.
7 - Not getting references

Whitepaper is created by LS Retail

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