Time to Value (TTV) is a critical metric to utilize when choosing a SaaS solution. When comparing solutions, it’s imperative that you understand how much time it will take to realize the promised value of the solution itself.
What is Time to Value (TTV)?
TTV is defined as the time it takes a new product to provide its advertised value to a customer. The definition is easy to understand, but it’s the influencing factors that are more difficult to assess and compare. For SaaS, the most important influencing factor to compare is implementation and deployment.
Implementation Requirements Impact TTV
The most successful and widely-used SaaS products require very little time spent integrating existing data sources. Zapier and IFTTT are picture-perfect examples. In a few years, Zapier and IFTTT transformed product integration and automation from a developer-only landscape to one accessible to everybody. Using either of these solutions doesn’t require developer knowledge. When someone wants to link an RSS feed to a Twitter profile, they can do so in just a few clicks and copy+pastes.
It’s the combination of deep integration capabilities without the extensive IT work that was once necessitated that contributed heavily to the success of both Zapier and IFTTT. Companies that recognize the importance of minimizing TTV are making it easier and easier to setup and start using their services.
TTV and Chargeback Management Solutions
Information to comprehensively respond to chargebacks can come from dozens of locations. Your payment processor, ecommerce platform, shopping cart technology, customer service platform, and anything else that contains transactional or customer data must be connected. Will you need to have IT professionals on hand to get the solution integrated with existing data sources? Does that require project managers to coordinate tasks and timelines?
The chargeback management solution you choose should require no IT knowledge from you or your business. Appropriate data sources should be integrated with a few mouse clicks, not through weeks (or months) spent by developers.
Get to ROI via TTV
Return on investment is the standard metric when it comes to comparing business solutions and initiatives of all types. But in order to reach ROI, you have to navigate through TTV. With quick implementation, you’re able to start recovering revenue lost to fraud instead of spending IT resources.
If a solution requires additional coding, IT, or development work, proceed with caution. Any implementation work required from your team will substantially increase your TTV.