TE5: The Software Selection RoadMap: Eight Steps to Choosing the right Software Vendor

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TE5The Software Selection RoadMapEight Steps
to Choosing the right Software Vendor Product
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AGENDA

• Introductions
• Objectives
• The Selection RoadMap
• Questions Answers

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OBJECTIVES

• Recognize importance of selecting core systems
• Recognize this is often not done well
• Introduce a Process Map for guiding software (
  vendor) selection
• Offset the theory with real life experience
• Understand that Risk and Value are THE
  parameters, not Time and Cost

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SOFTWARE SELECTION ROADMAPObjectives of the
RoadMap

• Level the Playing Field
• Understand Mitigate Risk
• Support the Selection of Appropriate Software on
  Favorable Terms
• Create Consistent, Documented Results
• Control the Process

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SOFTWARE SELECTION ROADMAPDecide What You Want
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SOFTWARE SELECTION ROADMAPDecide What You Want
. Financial Profile . Corporate Stability .
Market Momentum
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SOFTWARE SELECTION ROADMAPDecide What You Want
. Agents Functionality . Support Straight Thru
Processing . Rapid Product Development/Change .
Real Time End-User Service . Reduce Core
Expense . Support Decision Making
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SOFTWARE SELECTION ROADMAPDecide What You Want
. ASP Model . Rate/Rule/Form Maintenance . BPO
Services . Data Services
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SOFTWARE SELECTION ROADMAP Traditional Vendor
Selection
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SOFTWARE SELECTION ROADMAP Traditional Vendor
Selection
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SOFTWARE SELECTION ROADMAP Traditional Vendor
Selection
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SOFTWARE SELECTION ROADMAP Traditional Vendor
Selection
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SOFTWARE SELECTION ROADMAP Select Vendor Short
List
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SOFTWARE SELECTION ROADMAP Select Vendor Short
List
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SOFTWARE SELECTION ROADMAP Select Vendor Short
List
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SOFTWARE SELECTION ROADMAP Select Vendor
Shortlist

• Understand market segmentation
• Use criteria to build Knock Out or pre-qualifier
  list
• Use industry sources eg. Celent or Novarica
  Reports
• Aim for 3 5 candidates

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SOFTWARE SELECTION ROADMAP The RFP

• Contents
• Functional Requirements
• Technical Requirements
• Standard Terms Conditions
• Your time line milestones
• Make questions explicit
• Make it clear that answers may be validated

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SOFTWARE SELECTION ROADMAP The RFP - Make
questions explicit

• In what states does your system support Auto,
  Home and Umbrella lines of business?

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SOFTWARE SELECTION ROADMAP The RFP - Make
questions explicit
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SOFTWARE SELECTION ROADMAP The Scripted Demo

• What is a Scripted Demo?
• Mini POC
• Based on key requirement(s)
• Uses carrier samples data
• Strictly time boxed
• Objective validation vendor performance
• May involve negotiation between carrier
  vendor

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SOFTWARE SELECTION ROADMAP Visit the Vendors

• Why visit them rather than have them visit you?
• Agenda
• Business Functionality
• Exercise the Scripted Demo
• Follow up on RFP responses
• Domain Expertise
• Technology
• Architecture Infrastructure
• Software Design Flexibility
• Technical Depth
• Service Delivery
• Services Review
• Delivery Methodology
• Project Expertise
• Vendor Due Diligence
• Objective 360o review of vendors capabilities

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SOFTWARE SELECTION ROADMAP Visit the Client
References

• Why visit them rather than teleconference or meet
  at vendor?
• Watch outs
• You choose the reference, not vendor
• Meet with client without vendor
• Make sure you understand the clients business
  model
• Agenda
• Does software work substantially as advertised?
• What did vendor staff do, and how well did they
  do it?
• Is vendor a good and trusted partner?
• Objective validate and verify vendors
  capabilities at a similar carrier

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SOFTWARE SELECTION ROADMAP Choose the Winner

• Based on Selection Criteria relative scores
• Vendor with Highest Score wins
• Winner gets to do the POC
• Keep the Runner Up in the loop

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SOFTWARE SELECTION ROADMAP The Proof of Concept

• Why do POC?
• Final Risk Mitigator
• Vendors software loaded in your environment
• No more Wizard behind the curtain
• Chance to work together
• POC is thin slice of real project not
  throwaway
• Sign temporary licenses
• Need defined Success Criteria
• Be prepared to back out

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SOFTWARE SELECTION ROADMAP And so
If the POC is a success you probably have the
right vendor. Congratulations.
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SOFTWARE SELECTION ROADMAP And so
Now all you have to do is implement!
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SOFTWARE SELECTION ROADMAP Thank you
QUESTIONS ANSWERS