The best time to purchase a good or service is often an exercise in being counterintuitive. The best deals on school supplies occur in the midst of winter – a fire sale on what was ignored before the start of the school year. The best deals on a winter coat can be nabbed in the heat of the summer.
Have you ever wondered when is the most optimal time to make purchasing decisions for business software?
The answer is today, as the year draws to a close, when buyers have the greatest leverage and the sellers have the most incentive to offer you an amazing deal.
Those organizations that have already earmarked a project for 2018 – whether you have excess funds from 2017 going unspent or you’re approved to invest in business solutions in 2018 – this is the moment you have the most leverage with vendors to make each dollar you spend go further.
Why are last two weeks of December the best time to buy software? Because those in charge of business development have either numbers to hit or, having already achieved their target, are primed to receive even larger commission as a result of sales accelerators (a bonus for performing). It’s more than that though, it’s the finality of the year’s close: the size of the growth rate the vendor can boast, the number of clients it can count, the opportunity to kick off the new year with a celebration of last year huge gains. The moment the clock strikes midnight on December 31 that number is final, and a new chapter for that business begins. Each company is trying to maximize what they can achieve in that year.
With each passing day, it becomes imperative for both vendor and buyer to reach a deal.
If it’s already in your 2018 budget, December is the best time to buy, even if you are planning to implement later in 2018.
If there’s unspent resources in your 2017 budget, these last two weeks of the year is the moment when each dollar goes further.
If you already know that the project will occur, and you have the budget, don’t procrastinate on your decision. Pull the trigger before December 31 and you will save yourself a bundle.
The best time to buy a candy cane is June; add buying business software in December to that same list. For Passageways and other business solution vendors, this is the moment to strike and start 2018 off right.
About The Author
- Passageways is a SaaS provider of collaboration solutions for boards and employees. OnBoard is a board governance solution, designed to improve collaboration for directors and administrators throughout the meeting life cycle. OnSemble's a lovable, drag and drop, Employee Intranet that connects an entire workplace to one central collaboration hub, builds your culture, and inspires employee engagement.
- Board Management2021.01.11Another Helpful, Free Tool from Passageways: the Vendor Comparison Worksheet
- Board Management2021.01.08Everything You Need To Know About Meeting Minutes
- Board Management2021.01.04New OnBoard Capabilities Help Enterprise Boards and Leaders Identify Conflicts of Interest and Complete Required Regulatory Filings
- Board Management2020.12.29The People Have Spoken! 6 Reasons OnBoard Makes Your Board Happy.