Vendor Research Considerations
With the wealth of resources available online, it can often be difficult to conduct a thorough research, evaluate and compare options.
Analyst reports are often the best reference point but keep in mind that vendors often co-sponsor or make a contribution to be included in the reports. If you download information directly from a vendor website, there will inevitably be a bias towards their own solution. Watch out for sponsored listings on websites and make sure you are comparing like-for-like functionality.
What we recommend doing is that prior to starting your research, you should first build a list of your business priorities and technical requirements. Think about the type of goals you want to achieve and how you want the system(s) to support these activities.
In addition to business priorities, you also want to look at your current systems and how a new system would integrate with other core business systems. Some considerations:
- Environment – on-premise or cloud
- Geographic presence and awareness – availability of local support?
- Solution use – is the solution you are considering used by selected individual business units Vs enterprise wide
- Customer satisfaction ratings
- Reference customers that match your company profile ie size, industry
Here are some useful resources to kick off your research process:
Note: These reports are usually available through the vendors featured in the reports. The analyst/research companies do not usually provide consumers with direct access. If you do a search online, you should be able to fill in a form and get access to the latest reports.
- 2017 Gartner Magic Quadrants for Strategic Corporate Performance Management (SCPM) and Financial Corporate Performance Management (FCPM).
The CPM reports are split into SCPM and FCPM report. This means that you may have to source the SCPM and FCPM reports separately. Alternatively, one of our partners is featured in both magic quadrants and provides (gated) access to both.
- The Forrester Wave™: Enterprise Performance Management (EPM), Q4 2016
Forrester has a 36-criteria evaluation of enterprise performance management (EPM) providers and have identified the 10 most significant ones, researched, analysed, and scored them. This report shows how each provider measures up and helps application development and delivery (AD&D) professionals and their business stakeholder partners make the right choice to improve enterprise planning, business insight, and management reporting.
- BARC Planning Survey 2017
The Planning Survey 17 attracted 1,747 responses from which 1,473 gave detailed information on real-world experiences of selecting, implementing and using a planning product. The Results report provides you with well-designed charts and insightful analysis on the many highlights from this year’s survey.
Software review websites/Online Publications:
- Gartner Business Intelligence (BI) | Gartner Corporate Performance Management (CPM)
Gartner, Inc. (NYSE: IT) is the world’s leading research and advisory company. We help business leaders across all major functions in every industry and enterprise size with the objective insights they need to make the right decisions. Our comprehensive suite of services delivers strategic advice and proven best practices to help clients succeed in their mission-critical priorities. Gartner is headquartered in Stamford, Connecticut, USA, and has more than 13,000 associates serving clients in 11,000 enterprises in 100 countries.
FSN provides finance professionals around the globe with independent news, vital analysis and deep insight about key developments in the world of business and accounting systems.
A software review site that provides a comprehensive list of business software solutions on the web so that you’re guaranteed to find your best match.
- G2 Crowd
A software review site that empowers business buying decisions by highlighting the voice of the customer. Their review platform leverages more than 225,000 independent and authenticated user reviews read by nearly 900,000 buyers each month.
Proformative enables finance professionals to make smarter business decisions, connect with their peers, build their skills, and advance their careers. In addition to being able to participate in over 100 annual free “live” webinars on timely topics, our members have access to an unparalleled peer-to-peer knowledge-sharing community. They are able to ask questions of tens of thousands of peers and subject matter experts in our community to get varied perspectives on key issues. Our members actively share knowledge to our online community of corporate finance and related professionals.
- Progressive CFO
A monthly series of short interview-style videos, webinars and podcasts featuring finance executives and their real-world experience addressing specific challenges facing the Office of Finance. Each month one executive will discuss a specific topic he or she tackled and business results achieved.
What is your company struggling with? We will continue to explore this topic further in our next posts – drop us a line if you want to have a chat or stay in touch with our updates.