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Vendor Selection

Create RFX, identify possible vendors, evaluate solutions, and generate business cases and proposals.

RFX Creation

Design an RFX document based on the needs and requirements at a business level, functional level, and technical level.

Deliverable

RFX Document

Ideal Format & Timing

  • Multiple working sessions with SMEs to understand requirements
  • 4-6 weeks total

Key Activities

  • Identify business level requirements
  • Identify functional level requirements
  • Identify technical level requirements
  • Create and write an RFX document

Benefits

  • Get a full set of requirements included in a RFX document to use for internal and external needs
  • Save time by having experts in the billing space co-create the document and help uncover a wholistic set of requirements of the business

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Vendor Shortlist

Research and provide a shortlist of possible vendors that could accomplish the RFX requirements for the business.

Deliverable

Vendor Shortlist

Ideal Format & Timing

  • Various sessions with third-party vendors
  • Timing dependent on vendor availability
  • 3-4 weeks total

Key Activities

  • Understand requirements, key points of complexity, scale and growth projections, budgetary constraints, and other key information
  • Research vendors that are potential options
  • Meet with vendors and discuss requirements and identify large gaps (done anonymously)
  • Prepare a shortlist of vendors for further deep dives and additional information gathering

Benefits

  • Save time by having a short list of vendors provided based on their capabilities of handling specific requirements
  • Ability to identify vendors anonymously
  • Utilize billing experts to vet requirements with vendors quickly and provide expert opinions on viable options

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Vendor Analysis

Assist in going through full vendor analysis process – from discovery, to use cases, to demos, to technical deep dives.

Deliverable

Vendor Comparison Overview Document

Ideal Format & Timing

  • Varies based on level of involvement and company's purchase cycle process
  • 3-6 months

Key Activities

  • Participate in discovery calls and deep dives
  • Participate in helping to prepare use cases for demo or POCs
  • Participate in scoring and reviewing vendors on use case demonstrations
  • Provide comparison document of vendors, including gaps and potential solutions for those gaps

Benefits

  • Have billing experts help to guide conversations and press into capabilities
  • Have a credible third party provide analysis and recommendations for vendor fit
  • Utilize a third party (that is not a product company) help to identify a wholistic solution based on gaps that vendors present

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Business Case Development

Co-create a business case designed for the needed audience to articulate the need, urgency, and confidence in the selected solution.

Deliverable

Business Case Document

Ideal Format & Timing

  • Various meetings with key champion(s) to help iterate and tailor content
  • 2-3 weeks

Key Activities

  • Determine intended audience and types of information business case needs to include based on the business
  • Construct a draft of the business case using client specific information, best practices, and other market and industry data
  • Iterate and revise with champion(s) to tailor messaging for the business
  • Handover document and/or co-present business case to stakeholders

Benefits

  • Utilize industry and best practice research in business case to further support objectives
  • Save time in creating and researching to create a business case
  • Have a credible third party provide validation of business case

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Financial Modeling

Create a financial model based on the needs of the business (ROI, TCO, Buy vs Build, NPV).

Deliverable

Financial Model

Ideal Format & Timing

  • Working sessions with SMEs to obtain inputs and assumptions
  • 2-3 weeks

Key Activities

  • Determine which financial models are appropriate to construct
  • Have sessions with SMEs to discuss data available, key inputs, and assumption levels
  • Construct a tailored financial model for the business
  • Provide a readout deck of the financial model

Benefits

  • Save time by utilizing a third party financial model tailored specifically to billing purchases
  • Utilize industry knowledge and data in financial model to bolster the business case and add credibility
  • Have a framework to help realize and measure value realization post go-live

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Uncovering Value
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Success Planning

Value Management

The solution to tech-project regret

Companies across all industries struggle to successfully implement the software they've purchased, resulting in unrealized value, frustration, and regret. Regret often occurs when problems are misdiagnosed as a symptom or not fully known or understood. Focusing on business-value outcomes helps ensure the real problems are solved.

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