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Interest Rate Experts

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On November 4, 2008

In Australia, real estate

Today the Reserve Bank of Australia cut interest rates by 0.75% (0.25% more than the expected 0.5%. That represents a 200 basis point cut over just the last three months.

When reading an article on the cut on news.com.au, I noticed the “Related Coverage” sidebar. Every single piece of news has a different guess; some thought rates would go up, some down and some the same. In short, no-one really has any idea. How can these people be called experts? Is it really that the conflicting factors of inflation, house prices, consumer spending, the global stockmarkets and employment (to name just a few) are too hard to compare and weigh up? Maybe, but these ‘experts’ get paid for what they do! Or perhaps the experts are just journalists looking to create sensational headlines from titbits of superficial knowledge?

I am inclined to think that journalists play a very large role in the economic crisis, and that the severe fluctuations in the market are driven by fear generated by ‘experts’ and delivered to ‘mum and dad’ and ‘out of their depth’ investors.

Recession Spending

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On October 9, 2008

In Business, software

An article by Andrew McAfee triggered my interest today, what will happen to technology in a recession? Or more specifically, what technology actually excels in a recession? Some IT leaders have commented in the NY Times, but I would like to focus more specifically on software technology.

The most obvious answer is that the cheapest software wins. Deploying SAAS and other Web 2.0 models are not just about delivering new functionality; they are about driving down costs through low delivery costs and economies of scale. With employment at near record lows (and salaries at record highs, especially in IT) no-one wants to take on more staff.

I think that the silver lining to a recession is that the weak get weaker and the strong get stronger. A renewed focus on what works and how to efficiently deliver value is a good thing for any company. With SAAS systems now gathering widespread acceptance a recession will, in my opinion, accelerate the growth of these systems. The current financial crisis has also highlighted how interconnected the world is, and SAAS systems delivered from data centres thousands of kilometres away will again gain more acceptance.

Unlike the article I don’t think it is necessarily a case of socially driven applications gaining traction, I also think CRM and ERP systems will see an increase in popularity. Customers are no longer so easily separated from their cash, and every inefficiency in the supply line is being watched like a hawk. Adopting best practice from a new technology package is a great way to address these issues.

Top 5 CRM Selection Criteria

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On September 26, 2008

In Business, software

I have now been working with CRM systems for 5 years. It is only recently that I have seen the industry  (finally) mature to a stage where it is no longer engaged in a straight up feature war. This has been driven by two things; a maturity of product offerings and a recognition by customers that they should be making decisions based on an analysis of their own requirements, rather than a feature comparison matrix. To this end, here are my top 5 criteria for selecting a CRM system:

Usability – Without this, nothing else matters. If your users will not adopt and use your selection, it’s a waste of time and effort.

Alignment – What do you want to do with your CRM system? If you are looking to manage contacts & contact activity, you’d consider a completely different slate of products than you would if you were looking to customize a product to support your entire business process.

Product delivery – SaaS vs. client/server is a big consideration. Do you need an offline client, or is a plugin enough? If so, how robust does it need to be? This could direct you toward a client/server solution. Do you have an IT department and any in-house expertise? If not, could direct you toward a SaaS product.

Integration needs – While it is easier than ever to integrate SaaS products with other systems, some scenarios definitely call for an on-premise solution. This could be a limitation of your current software packages that you rely on but have no interface into.

Pricing – Do you have capital up-front? Do you want to buy your solution? If not, SaaS products are much easier to get started with. In some cases though, they can end up costing more in the long run. There is also a great price difference in different SaaS products and even within themselves based on functionality.

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