9 Insightful Questions to Ask Your Asset Management Software Vendor

Asset Management Software / February 2023

So, you’ve decided that implementing an asset management system is the key to enhancing your business operations. The next step of the customer journey is to choose your new tool.

The best way to find a system that is the right fit for you, your business, and your employees is to gather as much information about the tool as possible. An effective way to do this is by asking each product vendor the right questions.

To help you, we’ve listed 9 insightful questions that should be at the top of your list when it comes to talking to your software vendor.

1. How do you Conduct Usability Testing?

This question is likely to be answered by a product manager. You should look to get an idea of how well the software is tested for usability. The answer should include terms like internal user testing, beta testing by customers and external testing.

2. How do You Develop New Features of Your Software?

You are basically looking to understand the product development cycle of the vendor. Ideally, the cycle should be customer feedback to sales/ implementation teams, which in turn feedback to the product development team, which leads to new software versions. The answer should be a clear, answer and not a waffle.

3. How Many Developers Do You Have?

Products (i.e. Asset Management Software) is the core aspect for you, so the development team should be stable and strong. At a minimum, the answer should be more than five developers.

4. What Are Your QA Testing Protocols & Procedures?

Continuing with the product theme, quality testing of your asset management software is very critical. The most important testing should be around data integrity and security.

5. Do You Do Asset Audits?

Particularly for physical assets and in industries where there are regulatory parameters, auditing assets is done every six months. Most small businesses do not have the resources, time and capabilities to undertake asset audits. It is good to know upfront if you can get the service from your software provider.

6. How Many Customers Did You Sign-up Last Year?

This will let you know if the company is in growth mode (quality products and quality teams make growing companies ).

7. How many People Did You Recruit Last Year?

You are looking to understand if the company’s growth is matched with new resources, or is if the company is stretched.

8. Who Is Your Ideal Customer?

The answer should match references and testimonials on the website.

9. How Big Is Your Support Team?

You will get new people who will require hand-holding; support is more critical than most people think. It is a bit like insurance; you don’t know how good your insurance company is, till you make a claim. So you need a good support team to help you when you need it the most.

Generally, a well-resourced support team is good at response time and quality of responses.

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