Today, you have several options for online barter software to manage your barter exchange… Making the best choice not only depends on your specific needs and desires, but also choosing the right business partner to provide and host your barter exchange and member management software.
You want the software to be bullet proof and hosted at a top tier hosting facility to assure reliability and zero downtime. And, you want to be able to make your own rules and business decision about your barter exchange, rather than being told by your software provider what you can and cannot do.
Here are several considerations, features and functionality to look for in Barter Software and other considerations that should be a warning sign for you to look elsewhere…
Does the barter software provide you with a platform where you can control your member’s online trading experience using simple configurable settings, so that you can run a world class business to business barter exchange where you, not your barter software provider or licensor, set the rules?
Is it business-to-business focused or does the barter software feature a huge marketplace filled with yard sale merchandise, overpriced off-brand products, used household items and trade listing offers that often never get shipped?
Will your barter exchange and its members be locked-in to participating in the marketplace and also sharing your member directory information and barter opportunity offers and listings with all of the other members in all of the other exchanges using the software, or can you decide and manage if and how your exchange, members and trade offers will be linked to one or more other exchanges?
You want to make sure the barter software user interface is totally intuitive, simple to use, easy to navigate and doesn’t require a college degree in computer technology or you will be spending your time showing members how to use it or actually doing everything for them.
Does the barter software automate typical time consuming administrative tasks such as email marketing and new barter opportunity notifications, newsletters, member directories, travel bookings, transaction processing, monthly statements, and billing and collection, so that one or two people can manage a 300 to 500 member exchange and you are enabled to spend most of your time acquiring new members and generating trade velocity?
Are there multiple easy ways for members to process barter transactions on their own, such as in a shopping cart enabled marketplace, online postings, 800 number telephone postings using a touch tone phone and perhaps even using debit “swipe” cards, or do members have to use checks, trade drafts or sales slips that will give you an administrative paperwork nightmare?
Is the barter software capable of automatically processing ongoing repetitive transactions, just like online banking software, for members such as health clubs and other monthly membership based businesses, or for automated monthly processing of barter mortgages or trade dollar loans.
Does the barter software enable your members to search and view a Yellow Pages type of online real-time properly categorized member directory, so that your members can find the products and services they want without always calling you for assistance?
Will members be able to display a complete up-to-date real-time Member Directory and then print it, saving you uncountable hours that it would take to manage, update, print and mail a member directory?
Will the barter software enable you to easily set directory search limitations or disable printing on a member by member basis for those members that you do want to provide access to a complete member directory?
Does the barter software feature the ability to set-up brokers and salespeople, delegate broker permissions with a few clicks and assign each member to one or more brokers to facilitate member management and generate commission reports?
Will the barter software automatically generate a member call list each day for each broker to contact those members and then enter call notes for your review, so that you know that your members are being provided with exceptional customer service?
Does the barter software have built-in contact management so you can enter notes, calls, and reminders and does it accommodate for repetitive tasks?
Can the barter software provider enable you to facilitate large corporate barter transactions without the need to build the infrastructure, so that when a transaction doesn’t fit into the retail barter model, you can still earn fees that are typically at three times the percentage you would earn from a retail barter transaction?
Does the barter software provider charge a percentage of your fee revenue because provider thinks that they should be your partner and the more you earn, the more they should get, or do they just charge a low monthly barter software subscription fee?
Does the barter software provider focus their efforts on running their own barter exchange, and actually designed the software for their own use, but is now licensing it to other exchanges to make some extra cash?
Perhaps you are exploring a barter franchise in a regional or national barter system. Do you realize that these franchises or licensors often keep 25% to 40% of your revenues for accounting, collection and administrative services that you can actually do yourself in a couple of hours a month for less than 5%!
Explore all of your options, ask questions and do your due diligence as barter exchange owners often make the wrong choice and then find themselves with the daunting task of switching software and perhaps, even loosing their members to an unscrupulous software vendor or franchisor who won’t release their member and transaction data.