Consider this horrible scenario. You spend three months selecting new warehouse management software and another three months implementing and training. Your staff get accustomed to it. Then you learn that the software vendor has gone out of business.
No more support, no new upgrades, and no delivery of that additional module they promised would be available soon.
Or let's say the vendor doesn't go out of business, but they get acquired by another company. In this case the acquiring vendor informs you that they will "sunset" the product and cease support within two years. It's not as bad, but it still means that you will have to start all over again soon.
You can greatly increase your chances of avoiding these situations if you take the time to assess each vendor's financial and strategic viability during your software selection process. This brief viability document can guide you through that process.
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