Application Software Selection

Portfolio companies often ask us to perform an evaluation to replace existing applications when their application portfolio no longer supports their business processes. Typically, their application portfolio is comprised of various packages and spreadsheets developed over time and have served the business well.

Identifying the Issues

The first question we ask portfolio companies is, “What is wrong with your current application and why do you think it needs to be replaced?” PIP believes the implementation of new business applications should be the last resort because these projects are high risk and can cause a major disruption to the business. Consequently, we first perform a feasibility analysis to determine if the application in question can be re-implemented rather than starting over (See implementation/re-implementation service). We also want to ensure the organization is willing to commit to the necessary changes required to implement enterprise portfolio company software.

If the organization is not ready or it does not make sense to implement new applications, then we find ways to better leverage what is currently in place (re-implementation). If our analysis indicates a new business application is warranted because additional functionality is needed to support the business, we begin the selection process based on mutually agreed new, clearly defined business requirements for specific aspects of a client’s business or the entire enterprise.

The Selection Process

The goal of our selection process is to place the portfolio company in a position to select the best vendor/package for their company. Our activities include defining/documenting business requirements, screening vendors, developing initial implementation budgets for use with prospective vendors and ultimately narrowing the list of viable vendors. Finalist vendors are tested in simulated “real life” situations, and each is rated based on pre-determined criteria. PIP summarizes the result of the evaluation process in clear, easy to understand business terms.

Once the evaluation process is complete, the client selects the winning vendor and their respective application. PIP can assist with the contract negotiation process. We deliver a detailed implementation plan that can be used as the foundation for managing a successful implementation project.