The Risks of a Fragmented Tech Stack

The alternative to centralized, feature-rich software is a patchwork of platforms and tools stitched together into a functional but complex tech stack. That’s still the way many businesses operate today.

It’s common for a company to rely on separate systems for managing day-to-day operations, taking payments, customer management, support, etc. That can work, but even under the best of circumstances, it creates inefficiencies and headaches, including:

• Higher costs: Multiple platforms mean multiple monthly bills
• Unnecessary complexity: Not only do platforms have to be integrated, but they also each require separate training, maintenance, support, etc.
• Integration challenges: More moving parts mean more chances for things to break, causing problems across the entire tech stack
• Data silos: Data flowing between disparate systems often flows inefficiently, hurting optimization, communication and results
• User drop-off: Jumping back and forth between tools creates opportunities for tasks to get dropped due to poor user experience, distractions, etc.

Despite the prevalence of patchwork tech stacks, many businesses are actively moving away from fragmented systems. Instead, they’re looking for something less complex, more unified and that delivers greater value. The software companies best positioned for long-term success will be the ones that answer that call.

High-Value Additions That Make B2B Platforms More Competitive

While offering more features sounds like a straightforward solution, it’s important to consider which kinds will move the needle — especially for the unique customers you serve. 

When looking for the best solution, be sure to keep the following benefits in mind:

• High monetization & revenue potential
• Reduced churn
• Features that drive engagement
• Simple integration options

The best solutions won’t just offer extra “features;” they’ll help you strategically grow your business and provide unmatched value to your customers. 

While your final decision will ultimately depend on the specific vertical you operate in, there are some universal areas that can improve your value, user experience (UX) and platform stickiness. The following are just a few of the high-value functions that will keep users inside your software platform longer.

Customer Relationship Management

Customer relationship management (CRM) is a universal business need that offers enormous value across all industries and companies of all sizes. Enterprise CRM systems are often built as one-size-fits-all solutions designed to serve as wide a market as possible. That can make them far more complex than the average user needs. They can also be incredibly expensive. 

That opens the door for niche software providers to integrate targeted CRM functionality that’s designed to meet industry-specific needs. For instance, a CRM tailored to dental clients might include patient appointment reminders and insurance workflows, whereas a solution for construction teams might focus on crew scheduling and site documentation.

 By knowing what users inside a specific vertical want and need from a CRM, software companies can offer leaner yet more useful systems baked right into their platforms.

Business Analytics and Intelligence

Knowledge is power, especially in a data-driven world. Gathering data is easy because it’s everywhere. But filtering, presenting and using it is much harder, and many businesses grossly under-utilize their data as a result.

Every business can benefit from better information. For instance, a fitness studio platform could use analytics to identify peak hours and optimize class schedules. Similarly, a field service app might help contractors track job profitability by technician or region.

Robust, easy-to-use reporting dashboards are a high-value addition to any software platform. Clear analytics enable users to understand their operations better, identify opportunities for improvement and make smarter decisions, plans and forecasts. Having that information a few clicks away is a great way to make niche software stickier.

Customer Support

The quality of support is a major differentiator. The better the support experience a business user can offer its end customers, the more successful it will be. That makes integrating support systems an ideal option for software companies looking to help users do more. Things like support portals and ticket management systems help users stay on top of issues and reach resolutions for their customers faster. Live chat systems can also be built directly into a platform to provide users with multidirectional support without them ever having to leave the interface.

Payments

Every business needs a way to get paid. Many software platforms offer payment integration, but they require the user to bring their own merchant account, payment gateway and any additional tools they need. That’s leaving utility (and money) on the table. 

One of the biggest trends in software today is embedded payments — built-in payment tools that enable users to not only let users accept payment through their software but also manage everything behind the scenes, like payment processing and merchant services. That significantly boosts the value proposition offered to users. It also allows software companies to generate commissions from the payments that flow through their platforms — a true win-win.

Inventory, Shipping and Tracking

Users selling any kind of physical goods need to manage inventory, shipping and fulfillment. They also need to track orders and in-progress shipments. All of these services are commonly available through third parties, but the more that can be baked into a platform, the simpler the user’s life will be. 

For instance, business-to-consumer (B2C) platforms like Shopify enable sellers to manage inventory, print shipping labels and track deliveries from within the seller dashboard. That’s a simple but high-value function that can be added to any type of retail-focused software.

As an example, picture a software platform that serves farm supply stores. By integrating stock level alerts for seasonal products like seeds or fertilizer alongside shipping status updates, the platform can make itself significantly more valuable to users (and increase long-term customer loyalty and satisfaction).

How Software Companies Benefit from a Broader Suite of Solutions

Regardless of how software companies add value to their platforms, they stand to benefit in significant ways. Arguably, the most important benefits of expanding functionality are competitive differentiation, improved user experience, reduced drop-off and stickier long-term relationships.

Competitive Differentiation

Business users are increasingly looking for two things from their software: more utility for their money and a greater centralization of processes. The more functions a platform can offer, the better it can compete and stand out. That makes a rich feature set key to getting noticed and getting a foot in the door.

Improved User Experience

Jumping between platforms, managing multiple credentials, paying separate bills and dealing with various support teams all severely degrade the overall user experience. Software that captures as many key operational tasks as possible significantly reduces friction, headaches and potential points of failure. That has a very positive impact on user satisfaction.

Reduced User Drop-Off

Every time a user has to jump from one platform to another, it forces context switching that can have a number of negative impacts. At best, it breaks up the flow of a task and makes the user less efficient. At worst, it results in enough friction or distraction that the task is never completed at all — user drop-off. Offering more functionality in one system minimizes context switching and drop-off, which makes users more productive and increases the value of a platform.

Stickier Relationships

The result of improving the user experience, streamlining more processes and making users more productive is stickier software that fosters longer-lasting business relationships. When a platform does more for users, they spend more time in it and have fewer reasons to look for something new. The software manufacturer also becomes a more critical partner in their success. 

Offering more functionality helps software platforms stand out, attract users, and keep them longer, maximizing lifetime revenue generation.

Look to Partners To Make One-Stop Software Easy

As business users demand more from their software, providers need to find ways to incorporate as many critical functions as possible.

From CRM to support and beyond, there are several common functions software companies can integrate. But, for B2B software, the most universally needed add-on function is payments. Offering the ability to take payments for products and services and access merchant services directly through their business management software is a major value proposition.

If you’re thinking about how to put these ideas into action, especially around payments, the right partner can make a big difference. Thankfully, integrating payments into software platforms is now faster, more flexible and more profitable — thanks to NMI Payments. 

Our modular solution lets software companies create the ideal payment experience using no-code, low-code, or fully customizable API integrations. But we go beyond just enabling payments; NMI Payments also supports acquiring, merchant onboarding and MID management, giving platforms everything they need to offer a fully embedded payments experience. 

The result? A seamless, branded user journey, faster time to revenue, and the ability to monetize every transaction — all while building stronger, stickier customer relationships.

To find out more about how you can add robust payment capabilities to your platform while opening up a new recurring revenue stream, reach out to a member of our team today.