Are you planning on implementing a new enterprise software?
If so, here are some tips on how to qualify and evaluate potential vendors:
1. FUNCTIONALITY– How well does the application meet the defined requirements of the company?
Evaluation Criteria
- Differentiating features
- Ease of use
- Inter-operability
- Hosted vs. integrated
- Core competency compatibility
- Industry “fit”
- Ease to change to meet changing business needs (flexibility)
Process to Evaluate
1 day demonstration & follow-up discussions
Assigned Weighting
40% of total evaluation criteria
2. SUPPORT & RELIABILITY– How likely is it that the vendor will be there when we need them?
Evaluation Criteria
- industry experience
- Financial stability
- Service and support capabilities
- Willingness to “partner” / cost flexibility
- Strategic direction
- Commitment to your success
Process to Evaluate
Four hour executive session (same)
Assigned Weighting
25% of total evaluation criteria
3. TECHNOLOGY– Does design and infrastructure of the software align with the Vendor’s overall capabilities?
Evaluation Criteria
- Platforms supported
- Ability to communicate/receive information from multiple languages
- Available tools/simplicity to build integrations and customizations
- Ease of implementing
- Scaleable for growth
Process to Evaluate
Four hour executive session (same)
Assigned Weighting
10% of total evaluation criteria
4. COST – What are the comparative initial and ongoing support costs?
Evaluation Criteria
- Hardware (if applicable)
- Software licenses (if applicable)
- Hosted Solution (if applicable)
- Maintenance support
- Implementation
- Total cost of ownership estimates
Process to Evaluate
Submitted quote & estimates (if applicable)
Assigned Weighting
25% of total evaluation criteria
Of course, if you are considering implementing the new system to start the new year, now would be the time to pick the project up again.
