Software investments play a big role in running a business, but the true value lies in how effectively you use them. When businesses purchase software suites, they aim to boost productivity, reduce inefficiency, and drive growth. Not using these tools in the right way (or not at all) can leave money on the table. Maximizing the ROI of your software suite is about optimizing usage, reducing waste, and making sure these tools align with your business goals. I'm going to provide you with some tips to help you get the most value from your software, making sure every dollar spent translates to noticeable results.

Assess Utilization Across Your Organization

Underutilized software tools can quickly drain your budget. Conducting a utilization audit identifies which programs your team actively uses and those that sit idle.

Steps to Conduct an Audit

  1. Review License Usage: Check how many licenses are in use versus how many you’re paying for. Monitoring tools like SolarWinds can help track usage rates.
  2. Identify Overlapping Tools: Look for multiple tools providing similar functionalities. Consolidating to a single platform reduces redundancy and costs.
  3. Gather Employee Feedback: Ask your team which features they use most and which tools present challenges or inefficiencies. Insights directly from users clarify where your software suite adds or misses value.

Cutting tools that fail to contribute meaningfully save money while reducing day-to-day complexity.

Train Teams on Software Features

Even the best software delivers low value if your team doesn’t know how to use it to its fullest potential. Many organizations underutilize their tools simply because employees stick to familiar features without checking out advanced capabilities.

Maximizing Functionality Through Training

  • Host Regular Training Sessions: Schedule in-house or vendor-led training to make sure employees understand new features after updates.
  • Use Online Resources: Many software vendors provide tutorials, webinars, or certification courses to help users master the platform.
  • Set Power Users as Leaders: Designate team members as “power users” who specialize in a specific tool and provide real-time assistance.

A complex CRM like Salesforce offers robust analytics and automation features, but these require proper training to unlock their full ROI potential.

Integrate Your Software for Better Workflows

Standalone tools often lead to fragmented workflows, causing inefficiencies in your processes. Integrating your software guarantees seamless data sharing, saves time, and boosts productivity.

Why Integration Adds Value

  1. Eliminates Manual Work: Integrated tools reduce the need to manually transfer data across systems.
  2. Improves Data Accuracy: Automated integrations lower the risk of human errors.
  3. Speeds Up Operations: Seamless communication between platforms enhances task completion times.

Integrating tools like Slack and project management software such as Trello means that team updates are immediately visible across platforms. Using services like Zapier or Make, you can connect multiple applications without heavy financial or technical investments.

Customize Your Software to Fit Your Needs

Generic, out-of-the-box solutions often miss the mark on addressing unique business requirements. Customization guarantees your software aligns precisely with your organization's goals and workflows.

Ways to Customize Effectively

  • Adjust Workflows: Most tools offer customizable pipelines, dashboards, or task templates. Tailor these settings to mirror your team's processes.
  • Use APIs for Flexibility: APIs (Application Programming Interfaces) allow you to build tailored integrations between your software and external platforms.
  • Request Vendor Modifications: Certain vendors offer premium services to align their software better with client needs. Negotiating these upgrades brings long-term cost efficiency.

A digital marketing team might create a custom reporting dashboard in a tool like Google Analytics to track only specific campaign metrics that directly relate to their KPIs.

Optimize Subscription Plans and Licensing

Many companies waste money on bloated software subscriptions. Reviewing your chosen plan can mean every service you pay for meets your actual needs.

Trim Features You Don’t Need

Most software vendors package their tools into pricing tiers. Higher tiers often provide advanced features, but not all businesses require them. Reassess whether your business uses or benefits from those premium add-ons.

Switch to Annual Subscriptions

Many providers offer a discount for switching from monthly to annual billing cycles. Calculate carefully to make sure it won’t cost more in the long term if your needs change.

Review User-Based Licenses

For platforms billing by user, deactivating unused seats prevents paying for people who are no longer active on a platform. Tools like admin dashboards often allow account managers to track usage and remove inactive users instantly.

Maximize Vendor Support and Updates

Software vendors regularly improve their products with updates, new tools, or enhanced features. These free improvements provide added value, but many businesses fail to take advantage of them.

Stay Up to Date on Features

Subscribe to your vendor's newsletters and release notes to understand what’s being added to your subscription. New features in Microsoft 365, like transcriptions or AI integrations, allow users to extract more value without extra costs.

Utilize Vendor Support Channels

Take advantage of customer support offerings, such as onboarding resources, troubleshooting, and strategy consultations. These services guarantee you get the most value from your investment.

Join Online Communities

Engaging in forums or user groups often leads to discovering creative ways to use your software. Platforms like Reddit or LinkedIn Groups are filled with tips and tricks shared by other users.

Automate Repetitive Tasks with Built-In Tools

Automation can significantly improve ROI by saving time on repetitive actions. Platforms with built-in automation capabilities add immense value without requiring additional third-party tools.

Examples of Automation Capabilities

  • Recurring Processes: Workflow tools like ClickUp automatically assign repetitive tasks to minimize manual input.
  • Data Entry Automation: CRM systems like HubSpot or Salesforce automatically log interactions based on email or call activities.
  • Email Sequences: Marketing platforms such as Mailchimp send scheduled newsletter updates based on automated user behaviors.

Check out opportunities to experiment with automation during trial periods or through vendor demos.

Track Performance Metrics Regularly

The true hallmark of maximizing ROI is evaluating success based on measurable outcomes. Metrics like productivity gains, cost reduction, and ROI percentages indicate whether your tools are truly effective.

Important KPIs to Monitor

  1. Cost-to-Value Ratio: Measure tools' costs against their direct contribution to revenue or time saved.
  2. Employee Adoption Rates: Understand how frequently and effectively employees use the software.
  3. Outcome-Based Efficiency: Track email campaign results when using automated marketing software by comparing open and conversion rates.

Regularly reviewing reports or dashboards ensures your software keeps meeting business goals and offers clarity on areas that need adjustments.