When the going get tough, the tough get better. And while it’s not the worst of times in accounting software reselling, it’s not the best of times either.
Selling financial software has gotten harder as the market has become saturated. The economy hasn’t seriously hurt the business yet, but it’s certainly not helping as sales cycles slow down.
Many resellers are selling more sophisticated systems. Increasingly, the smart ones are offering infrastructure services, and customer relationship management applications are contributed to the top lines everywhere.
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But the attributes needed to be named as a Killer VAR go beyond product. They include the commitment and character of the people running value-added reselling organizations.
From technology savvy to great marketing to providing a nurturing environment to out-servicing the competition, these organizations have found the secrets to success.
Which really aren’t so secret, anyway.
UNDERSTANDING CLIENTS’ NEEDS
Jim Bowman
Like many firms, the SBS Group has difficulty finding qualified staff. Unlike many software resellers, however, the company has an intern program.
But beyond simply looking for interns with spark, CEO Jim Bowman and his staff put the interns to work gathering information about client needs
“We undertake a market research project at least twice a year to gather information about what’s important to clients who are seeking new accounting systems,” says Bowman. And most of the work is conducted by the interns via telephone and email surveys.
With several hundred prospects and clients surveyed, SBS is often surprised at what the end-user wants. And it’s often different than what resellers believe, Bowman explains.
“A perfect example is that traditionally case studies have focused on ROI. The customer cut $500,000 of cost. Most customers don’t identify with that,” he says. “They are more likely to respond if you show them case a study where the software helped them enter a new market or provide a new product or service.”
Understanding client needs has been a key to the operations of the company, which was named Dynamics SL Partner of the Year for 2007. Bowman says that “a commitment to deliver a total solution even when that includes total components outside of Dynamics SL
SBS operates from Baltimore to Fairfield County, Conn., and from Montauk, L.I., to Harrisburg, Pa. Within that area, it serves a number of financial services companies, primarily private equity firms, asset managers and portfolio fund companies.
The company also has markets in life science, tapping into the large number of pharmaceutical, biomedical and research organizations in New Jersey. Other markets include construction manufacturing, professional services and wholesale distribution.
