Software selection is a tricky and strategic process for any corporation. Here are 4 tips, on how to tackle a system selection process:
1- The system selection process should follow a fact based approach. Gather Application or functional requirements via interviews and workshops from various groups like Operations, Finance, Marketing, and IT. These requirements should provide the basis for the selection.
2- Employees in various functional areas, including Business Verticals, CRM, BI,ERP or any other type of system of engagement should participate to determine which value add features should be included in the selection criteria process. Through primary and secondary research (e.g. analyst reviews, vendor calls, subject matter expert reviews, independent consultants, vendor websites, etc.), select three to four vendors to issue the selection and invite them to demonstrate their offering.
3- Have a consistent approach for vendor selection analysis, a scoring schedule with weightings should be developed and validated internally. Further, scoring criteria should be established to evaluate the vendor’s software response.
4- Based on the scoring results and qualitative assessment of the vendors’ response and product demonstrations, short list two vendors and perform a total cost of ownership and a internal high level implementation plan. An important rule never select a software that has no product roadmap.