Choosing Software Based on Price Alone? Here’s Why It Can Hurt You What is the approximate cost of your White Label solution for cryptocurrency exchange? How much do you think your White Label software is price differently from your competitors?” As a sales rep at WLGlobal, I often get questions like these from clients intereste in Forex or cryptocurrency exchange solutions. I don’t see anything wrong with the questions themselves, but the problem is that clients ask them at the very beginning of the conversation. In my opinion, clients intereste in purchasing a reliable software solution for their business at a good price should start their conversation with a sales representative from a different perspective.
I will try to argue
Why cost should not be the only factor influencing your negotiations with a software vendor, and I will outline several aspects that, in my opinion, are no less important than price when purchasing WL or any other software solution.
The price is right
Price is one of the first things that is considere when ordering a comprehensive software solution from a vendor. And it is quite reasonable, but only if it is not the only factor influencing the final decision.
It can be assume that as a software supplier, we are intereste in selling our solutions to as many customers as possible at a price that is advantageous for the company. This is partly true, but in our case, one important point should be note.
We believe that any software
Vendor that wants to be recognize in its field should be intereste in distributing its solutions to as many informe customers as possible. By informe customers, we mean customers who fully understand what the solution or product is from a technical perspective. Such customers can also assess the importance of the solution and the impact it will ultimately have on their business. However, the value that a particular solution will bring to a business may not always correlate with its cost.
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Let’s look at two polar cases
In the software pricing spectrum. Buying the most expensive software on the market is not necessarily the most rational decision. Although an expensive software product may have the most extensive list of functions imaginable, it is not odoo spain is a digitizing agent a fact that all of them will be relevant to your business. For example, in the case of the pricing model of cryptocurrency exchange software, you may not nee margin trading functions or market making algorithms at first. This functionality is not very relevant, for example, for startups that numbers lists want to test certain theories. By purchasing a software package where this functionality is enable by default, you are spending resources that could be more usefully spent on other things, such as a marketing campaign or analytics.
On the other hand
If you are considering software solutions only at the lowest price threshold, keep in mind that in this case you may get a product that simply cannot evolve with the business. If the project you have in mind has long-term prospects, then in five to ten years there is a chance that the chosen low-budget solution will not be able to support the ever-expanding number of operations. Sometimes budget solutions may not even meet the declare level of performance. We know of cases where updates for budget software simply stoppe coming out even in the agree cycles, and technical support was absent in the most critical situations. The risk of ending up in such a situation is especially high in the crypto industry, when insufficiently informe investors order so-calle “exchange clones” or “duplicate scripts”.
When it comes to software
For organizing cryptocurrency or Forex trading, a cheap solution can turn into an exorbitantly expensive one if you have to replace it with a more reliable one and simultaneously change the entire technical infrastructure.
Chances are that when choosing the right solution and vendor, you will fall somewhere in the middle of this spectrum. My argument above is that the price of B2B software is so relative that it would be unwise to start a negotiation with a consultant by asking, “So how much does your solution cost?” This is an important question that you should definitely ask, but at a later stage, after you know whether the vendor can meet your requirements and whether their vision for the project matches yours.
In the next section of the article
We have prepare for you a list of other aspects that you nee to consider in order to get the right tool for your business.
You can discuss with our consultant all possible price parameters for white label solutions.
What to look for when purchasing a software solution
Below are some points that you can discuss with your consultant directly, or just keep in mind during the product presentation. They can easily be classifie as due diligence, where you can ask about the size of the team working on the solution.
