- Report reveals that more than half of businesses fail to achieve the ROI they hoped for from software deployment.
- Bad integrations, silos and clunky UX are commonly seen
- The solution is simple: just remove all unnecessary software
A fifth of software budgets are wasted on unnecessary business complexity, which could result in hemorrhaging 7% of annual revenue, according to a new study.
More than half (53%) of the more than 700 IT, customer experience, finance, and operations professionals surveyed by Freshworks failed to achieve expected software ROI, with 43% highlighting projects going over budget and 32% criticizing vendor support.
As a result, $1 out of every $5 is considered “wasted” due to implementation failures, underutilized tools, and hidden costs.
Businesses spend too much on complex software
Although it was designed to help workers manage all kinds of processes, the average employee was actually losing about seven hours per week to inefficient software.
The study also notes technology overload, with the average worker having access to 15 software tools and four communication channels each day.
Freshworks emphasized that there is no one-size-fits-all approach to software and that different industries have different requirements.
For example, CX workers are worried about non-customizable workflows (42%), excessive tools (36%), and slow routine tasks (33%), while IT teams are fed up with poor integrations (36%), siled tools (32%), and outdated or clunky UX (28%).
“The very tools intended to help businesses move faster are now holding them back,” commented Dennis Woodside, CEO of Freshworks.
Nearly one in five employees (17%) say they know a member of their team who has quit or is burned out, particularly because of software.
“Technology should empower people, not overwhelm them,” commented Mika Yamamoto, customer and marketing manager.
“When businesses unify their systems and processes, taking a people-first approach to eliminating complexity, teams can focus on what matters: building relationships that ensure customer satisfaction and business growth.
The report encourages companies to streamline their technology stacks, which will not only improve ROI but also improve employee morale, leading to broader positive effects.
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