It’s quite common at Juniper Square for prospective customers to ask to speak to current customers as they evaluate our software. And it makes sense — an unscrupulous software salesperson might be willing to say whatever it takes to get a deal done, whereas peer firms who are using the software are more likely to shoot it to you straight.
We think reference calls are a critical part of any purchase process, but this is especially the case with software. Since you can’t pick up and feel technology, it can be very hard to know what’s high quality vs. low. After all, we all can tell the difference between a thoughtfully designed and well-built building vs. shoddy construction. Surely you’d want to do the same for software, since you’re trusting your most important company data and business relationships to the vendor. But how to tell which firms are quality and which are not? The answer is the reference call.
We often find, however, that prospective customers don’t know what to ask in these calls. You’re probably familiar with what to ask when evaluating a new potential LP, or partner in a JV deal, or property management firm, but software? With terms like SOC2, 256-bit AES, and redundant-secure-cloud-based-distributed-architecture? These are terms that most real estate managers want to stay as far away from as possible!
That’s why we’ve put together this handy guide. Think of it as your checklist you can take into any technology vendor’s reference call. Enjoy!
For more information on the key considerations when assessing software like Juniper Square, we’ve written a Buyer’s Guide to Investment Management Software. The Guide includes:
Click here to download the Guide.
