Those who experienced it know that running a business is like having a baby. For example, after the hectic day of solving a crisis, goods can arrive at the warehouse at night to deliver to customers before dawn. In all that hurry, the importance of process documentation is immense. It is because the flaws can eventually overflow the already busy schedule.
Because of this, process documentation best practices always include some level of automation. Logically, if the workflow is complex, it requires close attention to detail. In these cases, the software proves to be a viable help in hand, as it removes the possibility of mistake.
Seemingly, this reduction of fear from the mistake is always a powerful offer for the managers, aching to keep their position. However, many of them connect the price of the software to the level of pain it reduces.
Of course, this is more of the case for corporations, as leveraging resources is common to entrepreneurs. For small companies, paying for the software is on their bucket list, and that is how it should be. Those who built businesses know that software helps, but also drains resources.
For example, all software pitched with us at the West Balkans Expo’s finals solve some problems. But a few that tackle the importance of documentation in the business consider the limited resources of SMEs.
Unlike others, and by examining SeedStars and other online resources, Infidia found the invoice financing model that our users love the most.
Free Software Movement
It is not always the case that the price of software will determine the level of mistakes. Even though decent funds went to software, the fear is never at its lowest level. The only benefit is that it is easy to point fingers at notable software companies when something is not working.
However, for entrepreneurs, the blame is not essential if an error happened. They need to understand the situation, learn from mistakes, and not let it happen again.
Understanding the situation is the agenda for big corporations, as well. For this reason, according to TechCrunch review, corporations with big IT departments are prone to use the open-source. The reason behind it is that they have a hands-on approach to the code and to build trust with the company providing an open-source. Later on, it is quite relaxed for both parties to define the paid services.
An excellent example of this is MongoDB shifting to two options: commercial license or open-source of user’s work to others. Similarly, Elastic applies a commercial license to some parts of their software. Even though these are open-source companies, MongoDB is worth $4 billion, and Elastic is at $6 billion.
Of course, the open-source movement’s real champion is the Red Hat, acquired by IBM for $32 billion. It is mainly because this success comes from a transparent, purposeful, and passion-driven company. Red Hat CEO Jim Whitehurst explains this shift from corporate to “The Open Organization,” as it is also his book’s title.
Therefore, free software doesn’t have to involve some hidden agenda. On the contrary, providing some of the free resources is a sustainable business strategy. It is because it builds trust, fosters the improvements, and enables a plethora of new options.
Types of Free Offerings
“There’s no such thing as a free lunch” is a famous idiom explaining the hidden costs. Knowing this, many avoid open-source solutions or anything free. No wonder, as all these free models reside on human psychology, finding ways to benefit somehow.
There are two models of free offerings, with different benefits, both for users and service providers:
Free trial model
In this model, the full service is available for a short time-frame. The benefits of these models are mostly for the service provider. In these models, engagement is much higher, as users are willing to use as much help as they can.
Mostly in B2C (business to consumer) products, there is a difference between:
- Free trial without the commitment of providing the payment method
- Free trial products that require credit cards – 30%-50% possibility of continuing the use of the service.
The freemium difference to the free trial is that the product is not available only for a limited time, but the plan lasts forever. Examined in detail, this is the model that companies like Zapier, Spotify, TuneIn, and Evernote use.
The logic behind this model (and sharing these models) is building transparency and trust. As the service is limited for free users, they are more engaged in using and discovering all options.
However, the percentage of those who eventually pay for the service is the all-time low. In this case, the paid version is an offering for those who excel over the service provider’s resources.
Since customer support is expensive, those who manage to provide it in this model get the best benefits. For smart companies, it is tremendous feedback for improving their product.
Seamless Invoice Financing & Process Documentation
To ensure that there is no hidden agenda behind the process, our business model is sustainable. Driven by intrinsic and extrinsic motivation, we provide free software solutions together with invoice financing.
Combining invoice financing with other ways of helping small businesses, Infidia found a winning solution. Following the freemium model, we provide some of our free resources, as it is fair to our users. It is because our users give us feedback on their process documentation best practices.
Logically, it gives us value, as our software is getting better and better by each feedback. For this reason, by providing the value, we receive the value and build relations in an ever-changing world.
And since millennials are those that run or work in most new businesses, we all know how essential is the software for them. When attracting new employees, they need to know that software will do the tedious work.
If running a business is like having a baby, Infidia keeps it clean and makes it grow!