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How to Select the Best ITFM Software

How to Select the Best ITFM Software

September 1, 2020 Steven Middeldorp

So you have the approval to choose and implement an ITFM software solution?

What’s the first step?  You may want to instantly contact solution providers and move as quickly as possible. If your enterprise is operating with a manual or disparate system that is painful and error-prone, operating an automated solution might seem like a miracle. However, as with any other enterprise software system decision, it is critical to conduct yourself as well-informed and conscientious consumer who makes the best possible data-driven recommendation to your leadership.

That desire to make accelerated progress while there is leadership buy-in and interest makes perfect sense. However, the more intelligent way to handle the directive would be to first ask “exactly what do we need this solution to do for us?”

Does your organisation need – more transparency through automated IT cost data analysis; to establish an accurate, efficient, and accountable budgeting, forecasting, and spend analysis process, to be able to deliver an automated, understandable and defensible IT bill; to benchmark your IT service costs, or to measure the financial impact of changes in performance and usage?

Once determined, these priorities can be shared with potential software providers which will enable them to focus on your actual needs when crafting the preferred solution. ITFM software tools can only be as effective as the criteria by which it was selected, implemented, and operated. You will need a team of people involved in the selection process, so it is a good idea to identify and engage with those people early.

Prior to contacting solution providers, there are a number of factors to consider, discuss, and document:

1. Even though it may be a bit depressing, you & your team will need to critically and honestly appraise and understand your present process/s and system/s.

2. Similarly, you need to examine the current skillset and capabilities within your organisation – will the current team be able to assist with the set-up and the long term operation of the new software solution? Does your team need augmenting?

3. After collecting the required information and data, it needs to be documented with a focus on the priorities of the initial implementation and later operating the software. Information should include your system criteria, the number of the operational IT team and their relative skill set and experience, type and quantum of expected spend (capex, opex), and an expected timeline for implementation and operation.

4. Decide on an impartial method of evaluating each vendor’s software solution.

This summary will help vendors you connect with to easily understand your requirements and will shorten the time it takes for each party to understand if they are a fit for each other.

While automated ITFM software is a powerful tool, it is not a miracle solution. This is because if you automate poor IT practices, poor assumptions and use poor input data, your result is still going to be poor. The better prepared in your self-analysis at this point in the process, the better will be your result – so do take what team you need here to ensure this pre-contact vendor time is thorough and exhaustive.

When dealing with vendors, take in to account the following:

1. Be open and clear – the more you are the better opportunity the vendors will have to create the best solution for you in the quickest time.

2. Ensure that each vendor has exactly the same information that you prepared in your summary.

3. When assessing the vendor’s proposal, you will need to have both qualitative and quantitative ratings.

4. If you are the “point person” within the selection team, ensure that you remain the central point of ingress for each approach made by the vendors as they request access or information.

Assuming you have done your prep work completed, the selection process should take no more than 6-12 weeks. Implementation times can vary between vendors – from several months to more than a year, so before you make your final decision this also needs to be factored in.

ClearCost is committed to helping you understand what you need to know about yourself and your organisation and how to engage vendors to help ensure that you end up with the best fitting solution for your organisation. For an in-depth conversation about your needs, please speak with our team.

CategoriesBlog

TagsIT Financial Management software, ITFM, ITFM software, CIO, CFO, IT Financial Management, TBM, Technology Business Management, IT Demand Management, ITIL

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