Vendor Selection

Vendor Selection

After answering questions #1-5, you are now ready to identify & select the right system. Here are the next series of steps:

• Develop a detailed RFP outlining your business, your processes and your plans.
  
• Begin with selecting 5 to 6 vendors and provide each with the same RFP.
  
• Select vendors that have strong financial standing and are investing an adequate amount of money into research and development to continue upgrading their products.
  
• Based on their responses to the RFP, select 2 or 3 for on-site demonstrations. The on-site demonstration should not be just a sales pitch. It should be a customized demonstration of a ‘day-in-the-life’ of your business using their system. Because of the “As-Is” analysis and future-state exercises, you have provided the information they need to create the demo.
  
• During the demonstration you should use common quantitative evaluation criteria to score and rank the capabilities of one vendor against the other.

After the demonstrations, follow up with the vendors and clarify your questions and any doubts about their ability to meet your needs. Once you are satisfied they can meet your needs, ask for references and site visits to check-out installations that are similar to your situation.

Join us next week for - What you need to ask before you buy.