Ideally, if you have gone through all the software selection steps and carried out the relevant due diligence, it should be straight forward as to which software to acquire. But sometimes it’s not obvious and you still have a choice of 2 or 3 good solutions. So, here are some guidelines to follow to help you decide: 1. Gather all the information for each potential vendor and prepare a summary of the key criteria for each. 2. Bring your project team together to jointly review the information, the summaries, discuss the pros and cons of each of the potential vendor solutions. 3. Then, jointly rank each of the vendors against your key criteria. See the example below: Example of ranking 3 vendors against key criteria - Vendor A ranks ahead of the other 2 vendors and should be chosen. Notes (i) Software functionality. Focus on your mandatory and most important functional requirements and where the vendor solution(s) differ from each other. (ii) Implementation. How easy is the software to implement? Do you have the skills, experience and resources on board, or you can obtain these from the vendor, other service providers, or by retraining existing employees. (iii) ROI (return on investment) / TCO (total costs of ownership). Re-check both calculations for 5 year time scale, for each vendor - as each vendor solution may have different costs and benefits. (iv) Maintenance and support / SLA (Service Level Agreement). Be sure of what you are getting for your annual (or regular) payments, that it is appropriate and represents good value for money. (v) Software technology. Should be forward looking technology and either match that of your business or heading where you are heading. However, some forward looking technologies may be closer to where you are heading than others. (vi) The vendor. The business and software product direction, business strength and how well you get on with the vendor are important. Equally, so is an arrangement to protect your investment in the software, should the vendor themselves be acquired or taken over by another organisation. For more due diligence checklists and questions, visit: Software vendor support, Implementation support, Reference site visit checklist, Vendor accounts, Vendor personnel, Vendor software product development, Software payment terms, Final software decision, Software agreement checklist
The Final Software Decision Tips on making the final decision as to which software to acquire

Axia Consulting

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Key Criteria
Vendor A
Vendor B
Vendor C
(i) Software functionality
1
3
2
(ii) Implementation
1
2
3
(iii) ROI / TCO
2
1
3
(iv) Maintenance and support / SLA
1
2
3
(v) Software technology
2
3
1
(vi) The vendor
1
2
3
Average ranking
1.33
2.17
2.50
Ideally, if you have gone through all the software selection steps and carried out the relevant due diligence, it should be straight forward as to which software to acquire. But sometimes it’s not obvious and you still have a choice of 2 or 3 good solutions. So, here are some guidelines to follow to help you decide: 1. Gather all the information for each potential vendor and prepare a summary of the key criteria for each. 2. Bring your project team together to jointly review the information, the summaries, discuss the pros and cons of each of the potential vendor solutions. 3. Then, jointly rank each of the vendors against your key criteria. See the example below: Example of ranking 3 vendors against key criteria - Vendor A ranks ahead of the other 2 vendors and should be chosen. Notes (i) Software functionality. Focus on your mandatory and most important functional requirements and where the vendor solution(s) differ from each other. (ii) Implementation. How easy is the software to implement? Do you have the skills, experience and resources on board, or you can obtain these from the vendor, other service providers, or by retraining existing employees. (iii) ROI (return on investment) / TCO (total costs of ownership). Re-check both calculations for 5 year time scale, for each vendor - as each vendor solution may have different costs and benefits. (iv) Maintenance and support / SLA (Service Level Agreement). Be sure of what you are getting for your annual (or regular) payments, that it is appropriate and represents good value for money. (v) Software technology. Should be forward looking technology and either match that of your business or heading where you are heading. However, some forward looking technologies may be closer to where you are heading than others. (vi) The vendor. The business and software product direction, business strength and how well you get on with the vendor are important. Equally, so is an arrangement to protect your investment in the software, should the vendor themselves be acquired or taken over by another organisation. For more due diligence checklists and questions, visit: Software vendor support, Implementation support, Reference site visit checklist, Vendor accounts, Vendor personnel, Vendor software product development, Software payment terms, Final software decision, Software agreement checklist
The Final Software Decision Tips on making the final decision as to which software to acquire
© 2020 Axia Consulting Ltd
All rights reserved. Contact Us
Key Criteria
Vendor A
Vendor B
Vendor C
(i) Software functionality
1
3
2
(ii) Implementation
1
2
3
(iii) ROI / TCO
2
1
3
(iv) Maintenance and support / SLA
1
2
3
(v) Software technology
2
3
1
(vi) The vendor
1
2
3
Average ranking
1.33
2.17
2.50

Axia Consulting