4 Ways Business Owners Can Save Money on Software

July 29, 2024

money

We wrote earlier how small business apps are getting more and more pricey. As a small business owner, every dollar counts. While software is essential for running your business efficiently, it doesn’t have to break the bank. When I review my credit card statements, sometimes I blink twice about the fees paid to Dropbox, Canva, Zoho, Quickbooks and the myriad of other charges on my credit cards. However, I’m happy that I can use these tools to serve my customers and consider them investments in the operation of my business.

Having said that, here are some practical tips to help you save money on the software you use:

Embrace Open Source Alternatives

Many open-source software options offer functionality comparable to expensive proprietary solutions. Consider alternatives like:

  • LibreOffice instead of Microsoft Office

  • GIMP for image editing instead of Photoshop

  • Odoo for ERP/CRM instead of Salesforce

Open-source software is free and often has active communities providing support and updates.

Look for Bundle Deals

Some software providers offer discounted bundles that include multiple tools. For example:

  • Microsoft 365 includes Office apps, cloud storage, and communication tools

  • Adobe Creative Cloud bundles design software at a lower cost than buying individually

Check if your existing software subscriptions have additional features you’re not utilizing before purchasing new tools.

Leverage Free Trials and Freemium Models

Many software companies offer free trials or “freemium” versions. Use these to:

  • Test software before committing to a purchase

  • Determine if you really need all the features of a paid version

  • Use free versions for low-volume needs

Just remember to cancel trials before they convert to paid subscriptions if you decide not to continue.

Negotiate and Shop Around

Don’t be afraid to negotiate with software vendors, especially for annual subscriptions. Some tips:

  • Ask about discounts for longer commitments

  • Inquire about special rates for small businesses or startups

  • Compare prices from multiple vendors

  • Consider reaching out near the end of a sales quarter when reps may be more willing to offer deals

By implementing these strategies, you can significantly reduce your software expenses without sacrificing the tools you need to run your business effectively.

Would you like me to elaborate on any of these points or add additional tips to the blog post?

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