Laying Foundation to find the Best-Fit Software for Your Business
Software Selection is a complex challenge and requires deep CTRM experience and expertise. As having the right CTRM software in place is a critical success factor it becomes important to understand the importance of aligning solutions with business values. An ideal software solution should help you transform your business today and provide the agility to respond to the demands of the future.
With limited time and resources, it is a challenging task to select the best software solution while considering industry-specific challenges and aligning the decision with all relevant stakeholders.
Our Recommended Approach to Software Selection
To overcome these challenges and select the best-fitting software and vendor, along with consensus among key stakeholders, Value Creed recommends a detailed methodology for CTRM software selection that can help you understand all options in the software markets and select the best CTRM software solution for highly integrated business process.
- Review existing documents on business objectives.
- Conduct interviews with business.
- Update process flows.
- Prioritize requirements.
- Develop detailed business scenarios.
- Develop a vendor list.
- Create a RFP document.
- Facilitate Q&A sessions with vendors.
- Review and score FRP’s based on identified criteria.
- Align on a vendor shortlist for demos.
- Develop vendor demo scripts.
- Update business scenarios to scorecards.
- Prepare and orient participants on demo.
- Prepare draft vendor costs.
- Facilitate the vendor demos.
- Review demo scores.
- Review results of vendor scores.
- Rank the vendors based on scores.
- Identify solution gaps and solutions to the gaps.
- Review open questions with vendors.
- Finalize vendor costs.
- Prepare recommendation report.
Benefits our Software Selection Methodology can deliver
Helps you choose an efficient CTRM system that meets your needs and falls into your budget in a fraction of the time.
Helps you determine the essential features and functions of your CTRM software to maximize returns and increase scalability within your organization.
Increased transparency and understanding of the relevant CTRM software market.
Focused reduction of complexity and of the number of CTRM software vendors in scope.
Reliable identification of the best-fitting CTRM software solution and vendor.
Well-informed and sustainable decisions, aligned with business needs and stakeholders.
Alleviate Software Selection Challenges with Value Creed's Expertise
Through our years of experience in the CTRM industry, we have developed a strong system for gathering and understanding the CTRM customers’ business requirements and how they evolve. Value Creed’s expertise offers a comprehensive framework from a market overview to an objective, fact-based decision in a structured and focused way, allowing you to improve software solutions and achieve true business value in Commodities.
Ready to Get Started with CTRM Software Selection Software?
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