Evaluating EPM software
Vendor Evaluation Service
Find the right solution and EPM or CPM vendor for your organization
Why evaluate possible vendors?
Before committing to a vendor, it is important to consider the direction a vendor is taking their product (i.e. their product roadmap) and how they are spending their research and development resources over time. Take a look below to see the process.
Common Pain-Points
When evaluating an EPM/CPM software, many organizations face common hurdles when selecting new software. These can include:
- Unhappy Stakeholders - The solution selected may fail to meet the requirements of all stakeholders involved
- Paying too much - Excessive costs that could be avoided by negotiating for better pricing from the vendor
- Inaccurate Representation - Vendors often demo an array of special features which in practice don’t work as expected or require expensive customizations and additional costs.
*See our resource and connect with us to discuss other common hurdles
Host an EPM Solution
SaaS
SaaS (Software as a Service) solutions offer services hosted on the cloud with subscription-based access. This is the current industry trend for EPM tools.
- Faster implementation (has existing platform)
- Minimal IT dependency
- Automatic upgrades
- Low entry cost & flexible pricing
- Easy to scale up or down
- Vendor ensures compliancy
- Integration with other systems may be easy or difficult
On-Premises
On-Prem(ises) solutions are hosted and managed on physical servers within your organization. This is no longer popular among vendors.
- Integration with other systems can be relatively simpler
- Control of hardware, security and compliance internally
- IT teams are required for maintaining system
- Scaling requires long-term planning and commitment
- Time, hardware/software, & personnel required for new implementation
- Manual upgrades are expensive and time-consuming
- High entry and operations costs
Awareness
Define the selection process, Understand marketplace trends
Elicitation
Validate business case, Assess Business Impact, Establish Key Success Metrics
Evaluation
Establish criteria for comparison of vendor capabilities
Selection
Create weighted selection model, Validate key issues with technical assessments and reference checks
Negotiation
Initiate price negotiation with vendors, Finalize budget approval and project implementation
Awareness
Define the selection process, Understand marketplace trends
Elicitation
Validate business case, Assess Business Impact, Establish Key Success Metrics
Evaluation
Establish criteria for comparison of vendor capabilities
Selection
Create weighted selection model, Validate key issues with technical assessments and reference checks
Negotiation
Initiate price negotiation with vendors, Finalize budget approval and project implementation
Phased Vendor
Selection Approach
Take a look at our Phased Approach which makes the end-to-end vendor selection process easy for you.
Rapid Selection using ProLytics' refined methodology
Accelerated Evaluation Process
Phase 1
Awareness
Save time duplicating existing market research. Maintain alignment with focus groups.
Phase 2
Elicitation
Save time gathering detailed historical requirements and focus on key issues.
Phase 3
Evaluation
Use your time to validate how the solution will handle mission-critical requirements.
Phase 4
Selection
Save time across tedious demos and understand the marketplace.
Phase 5
Negotiation
Spend time negotiating with viable alternatives to reduce the price by up to 50%.
Don't choose a vendor alone
With our experience working with several EPM vendors, we have in-depth knowledge of the special features you may need or hidden costs that you are not aware of.
Our goal at ProLytics is to help businesses grow and find areas of opportunities. Work with our team today and be assured that we will create the best plan of action for your EPM solution.