Posted by John Healy, Dydacomp CEO
When you are looking for ways to grow the number of transactions you generate for your business, a very big and inexpensive idea is to be on the latest version of your technology provider’s solution. If you need any more proof, here is the performance as measured in transactions of merchants on an old (version 6 or less) vs. new the release of Mail Order Manager (version 7) and SiteLINK (SL6) through April:
This actually makes perfect sense when you realize that all the enhancements Dydacomp makes to our Mail Order Manager and SiteLINK software come from our clients who every day are trying to figure out how to grow transactions. Dydacomp meets with as well as surveys our clients (including you) to enhance Mail Order Manager and SiteLINK with your growth generating ideas. The only other enhancements Dydacomp comes up with are regulatory (like PCI Compliance) and changes that Microsoft makes to the base code of the tools we use.
It’s easy to see that being on the latest version of Mail Order Manager and SiteLINK, on average is worth 5.75% in transaction growth from the chart above, but let’s go through an example of what it could mean to your business.
Your company is doing $900,000 a year in sales, averaging $100/transaction for a total of 9,000 transactions a year. You also have 5 seats of an older version of Mail Order Manager and SiteLINK and your list price to upgrade to Version 7 of Mail Order Manager is $5,000. That also includes a free upgrade to the next version of SiteLINK. If you had upgraded on January 1, your April year to date sales would be $300,000 and 3,000 transactions. Being on the latest version of Mail Order Manager and SiteLINK would have improved the number of transactions you processed by 5.75% or an additional 172 transactions through April. At an average order size of $100, the increase in transactions would have been worth a total of $17,250 as compared to the $5,000 it cost to upgrade at list price. This means that your payback for upgrading to Dydacomp’s latest technology as measured in months would have been just a little over a month!
If you are trying to save money by not moving to the latest Mail Order Manager upgrade, it is going to cost you more in overall business lost than the short term savings generated in deferring the purchase. I know it sounds totally self serving and I accept that, but I can’t think of anything I could recommend to you that would have such a positive effect on your business with that fast of an ROI. Dydacomp’s core purpose is to make it easier for you to profitably run and grow your business and our technology enhancements play a huge role in delivering on that promise to you.