Software Selection Phase 3: Selection

While the research and evaluation phases of the selection process are all about gathering information from vendors, the selection stage is when you ask the vendors to prove their claims.

To make the best possible software selection, you need to

• collect and rate vendor information from several sources:
  
  
  • Market data - This may include more detailed technical information, case studies, and other marketing material.
  • On-site demos - Along with user trials, this is the most important part of the selection phase. You'll need to prepare demo scripts that address your most important requirements, and make sure that the vendors follow those scripts closely.
  • User trials - To ensure that your people are comfortable with potential solutions, it's important that they get some hands-on time with each vendor's offering. Make sure to carefully prepare trial scripts that address users' day-to-day tasks.
  • References - Talking to companies who have already implemented a given vendor's solution provides an opportunity to ask about real-world pros and cons.
• evaluate vendors' implementation strategies. Make sure that vendors have clear idea of how to implement their solutions within the constraints of your budget and business processes, as well as realistic approach to scheduling and reporting
• conduct a total cost of ownership (TCO) analysis. Find out the true cost of each solution, including license costs, implementation costs, maintenance fees, etc.

By feeding all of this information back into your decision model, you can factor into your evaluation so-called "soft" criteria such as ease of use and your general comfort level with each vendor, as well as cost, and accurately rank the vendors on your short list.

Armed with detailed and accurate information, you can notify the losing vendors and confidently negotiate the best price with the winner.

TEC Can Help You Get the Information You Need to Make an Informed Decision

Tailor Demo Scripts to Your Business

Having been through countless vendor demonstrations, TEC's experts can help you develop scripts that are tailored to your business requirements.

• TEC's standardized script format makes it easy to compare demos from competing vendors and accurately assess the differences between solutions
• TEC can act as a moderator, ensuring that vendors adhere to your scripts and answer all of your questions
• TEC can provide a neutral, third-party assessment of each vendor's performance

Analyze Total Cost and Real Value

The request for quotation (RFQ) stage is one of the most important parts of your selection project. It's important to understand how much each solution will cost, initially, and over time.

• TEC can help you produce an RFQ document that vendors can respond to accurately, and help you determine each solution's total cost of ownership (TCO)
• TEC analysts can perform a value analysis that balances TCO with the extent to which each solution meets your company's needs. Knowing the exact price point at which the winning vendor drops to second place can prove invaluable during contract negotiations

If you are interested in TEC's Selection Services or would like to learn more, contact us or call (1-800) 496-1303 ext. 404 in North America, and +1 514-954-3665 ext. 404 outside of North America.