#3: Insightful Data-Driven CTRM Vendor Selection Approach Facilitates Run-Operate Success
If you have read the first installment of our blog series on CTRM software selection, you are aware of the time consuming tasks and potential pitfalls involved when choosing a vendor on your own. And if you read part 2, you know what to look for when seeking a team to alleviate the burden and risks associated with a project of this magnitude.
Now, in our third post, you will learn how Value Creed and Sendero intertwine their comprehensive vetting and selection processes to help you select the vendor that is right for your organization.
By engaging this team, your vendor selection process will leverage a unique, multi-step process as follows:
- Gather Intelligence – We define and enforce inclusive business unit involvement across the organization to ensure all stakeholders’ desires are heard. Staff interviews, executive strategy, and a vendor-agnostic approach ensures a bias-free selection.
- Define & Prioritize User Requirement with Insight of CTRM/ETRM Expertise – Armed with deep CTRM/ETRM hands-on expertise and industry domain knowledge, we construct a requirement model customized to your specific demands, operational workflows, cross-functional use cases, and overall program management goals.
- Insider’s Assessment of “Off-The Shelf Functionality” – It is rare when a CTRM/ETRM platform solves every stakeholder’s requirement “out-of-the-box.” We align user requirements and technical considerations with each platform’s inherent capabilities and identify gaps where customizations will be required.
- Mapping Business Process Alignment – Alignment of existing business processes to the CTRM/ETRM platform is paramount. To choose the best-fit platform, existing business processes, back office, middle office and front office processes are assessed and compared among platforms. Our management consulting assessment approach combined with our deep ETRM/CTRM experience ensures you have foresight into the solution most closely aligned with your business goals.
- Reach Consensus – Our comprehensive evaluation uses proven methods for vetting vendors and uncovering critical details involving cost of ownership and operation, potential productivity disruptions, learning curves, and more
Dive Deeper Into This Multifaceted Approach
Sendero takes the time to uncover the drivers behind your firm’s trading challenges and opportunities, delving deep into your business philosophy to determine which software features will best get you where you want to go by involving executives, management, and front-line users through every stage, in every decision, while providing a structured methodology that allows you to balance your day-to-day asks with the selection.
Value Creed employs teams of experts fluent in CTRM, transaction flow, and contract structure. We understand how your software platform will influence the speed, efficiency, and profitability of every trade you make. Backed by hundreds of software implementation projects and millions of people-hours monitoring operations and reports, Value Creed ensures the software and vendor you engage will meet your needs now and in the future. As a managed service provider (MSP) our experience delivering on-demand 24-hour responsiveness by technical teams located both in the U.S. and India. Our dual time zone model gives Value Creed clients the functionality they need to thrive.