Will you be around in five years to support and maintain the software?

Select a time sheet solution from a vendor that will take you the distance. Think long term. The last thing you want is to select a vendor that will go belly-up in a couple of years.

Many companies focus on selecting the software, without evaluating the vendors themselves. This can be very risky, as many software companies come and go. It is important to research the viability and financial stability of each vendor.

Select a vendor that can prove consistent growth, profitability, and positive cash flow. The company must have a rock-solid infrastructure to support and maintain the solution in the long term. Even privately held companies who cannot disclose detailed financials should be able to give you some general information.

What to ask vendors:

• How long have you been in business?

• Are you prepared to disclose your financial position?

• Do you have a positive cash flow?

• Has your company been continuously profitable? For how long?

• Will you be around in five to ten years to support the application?