Why TtV Should Be Your Top Determinative When Moving to the Cloud
August 15th, 2019 (Updated 03/23/2021) | 6 min. read
By Duncan Hendy
You can’t deny it any longer – your company needs an upgrade.
Your IT team spends hours tracking, maintaining, upgrading, and backing up your current system, and you’re spending precious resources on data storage that you could be using to deal with the increased traffic you’re currently unable to scale for.
You know it’s possible to improve IT processes, reduce operational costs, and keep infrastructure manageable while growing as a company… and you know that means moving to the Cloud.
Stress-free IT in The Cloud
Not only is it much faster to deploy, but there are no hardware or related energy, labor, or maintenance costs to concern yourself with. And as it’s hosted for you, all maintenance, upgrades, and compatibility issues are handled by the vendor, saving vast amounts of time and money.
Your applications are available at anytime from anywhere with an Internet connection, and via any device, with a 99% guaranteed up-time.
Cloud flexibility means you only pay for what you use, and you can easily add or scale back licenses on the fly to meet actual demand. Predictable and regular payments mean no upfront costs or annual contracts. And what’s more, data security is often far beyond the affordability of most businesses, making your data safer in the Cloud than under your own watchful eye.
So, it’s great news that your on-premise pricing vendor tells you they’re going to be making that move soon…
Soon? Do you wait for them to be Cloud-ready, or do you take the plunge and move over to a Cloud-native solution? Does familiarity outweigh any potential benefits of swapping? What key factors should you be considering when making this decision?
Better the Devil You Know?
Let’s say your current vendor brings the right people onboard to get themselves into the Cloud. How long are you willing to wait?
The on-premise software itself was conceived long before agile was invented (so goodbye to your dream of agile project management), and it is unlikely to offer the same level of sophistication or capabilities as a solution built specifically to leverage the benefits of the Cloud. Migration will likely be clunky and time costly, made even more complex by various third-party integrations you’ve come to expect as the norm.
So not only will implementation take much longer – losing you time and money – but the end result will unlikely deliver the kind of agility or sophistication you’d get with a Cloud-native solution.
Besides, how will the few Cloud-specialists on their team manage the avalanche of migrations coming their way? How much of the work will be on your IT team’s shoulders?
So, stay with your current vendor or move to a Cloud-native pricing solution?
If you had to choose a bridge, which would you choose:
- The half-built bridge constructed by road builders who are learning bridge architecture as they go?
- Or the fully functioning, feature-speckled flyover constructed by bridge architects?
If your company is sophisticated enough to move to the Cloud but your pricing software isn’t ready, you’ve outgrown your pricing solution.
And they know it.
TCO: What About the Cost?
Ah, Total Cost of Ownership: the number one most important factor when making a decision about software. Or is it?
Time to Value (TtV) is the amount of time it takes for you to see the value of an action you’ve taken. It’s a similar thing to return on investment (ROI), but instead of measuring the financial success of the investment, you’re measuring the effectiveness.
So, if you’ve purchased new software, it’s the amount of time it takes for you to start seeing the value that software brings to your business.
The price of Software A may be attractive, but how long does it take before you start seeing the benefits? How much time is lost due to downtime, implementation time, lack of features, complicated integrations, and adoption rates?
Software B may seem like the more expensive option, but if you’re up and running fast with little required of your internal teams, and very little disruption to business as usual, you’re actually saving money over option A because time is money.
But you can’t accurately measure TCO in project management without taking into account the TtV, and it should be a key factor in your decision.
The Cloud-Native Benefit
Pricefx is a cloud-native pricing solution that uses cutting-edge machine learning to help you weaponize your data and enable automatic and insight-driven pricing.
Cloud since day one, we utilize only best practices and fully leverage the capabilities and opportunities of the Cloud for our customers.
With a keen eye on TtV, implementation is 2-4 times faster than other pricing solutions, meaning downtime is minimized. Automatic upgrades, super-fast fixes, as well as ongoing agile implementation cycles, all move you faster towards the realization of your profit goals while saving you thousands of IT hours and damaging downtime.
With an architecture designed to scale elastically to meet your fluctuating enterprise needs, and a pay-as-you-need billing structure, you can be sure of being ready for anything at any time. 100% configurability not only means you can design the software around your actual needs, but that it easily integrates with your favorite third-party tools. And as an ISO-certified company, your data is absolutely safe.
Built on a singular platform, you get a unified UI across a rich set of pricing tools that simplifies processes and improves team efficiency. Its Configuration Engine rockets your team into hyper-productivity mode and the simple PFX Platform enables event and trigger setting for faster processing.
Costs are kept low by utilizing the lowest infrastructure costs and having our own servers and database licenses. Compared to your current on-premise annual maintenance costs, you’re looking at saving somewhere between $500K and $2M for a single platform with Pricefx.
Our customer success team is second to none – there to guarantee you get all key tools to boost your performance and revenue, as well as to ensure your entire team is fluent in the software.
If You’re Going to Do Something…
A move to the Cloud is a big one and one that will see you well into the future. So, it makes sense to do it right, with a solution built specifically to maximize your profitability by making the most of the Cloud environment.
A Cloud pricing solution that is customer-focused, gets you up and running fast, integrates seamlessly, comes with world-class pricing tools, scales up and down on the fly, transforms internal processes, boosts team productivity, and saves you precious time and money.
Why not contact Pricefx to see how our solution could propel you to Cloud success?