Digital Transformation Services: Software & Platform Evaluation
December 5, 2022
In a rapidly evolving, complex and uncertain marketplace, businesses look for innovative ways to continue to meet changing customer needs and manage profitable revenue growth.
The current market conditions provide middle-market organizations a “once-in-a-lifetime” opportunity to take strategic risks, grow revenues and gain market share. Through digital enablement, these organizations can nimbly meet evolving customer needs, expand their go-to-market footprint and compete more effectively with some of their larger, less agile contenders.
Cherry Bekaert’s Digital Advisory provides strategic and tactical support to businesses, positioning them for long-term growth. In addition, we improve performance by transforming business models – leveraging technology and data as a core competitive advantage.
Digital Transformation Journey
A critical step in the digital transformation journey is to evaluate the effectiveness of your software and digital platforms. The right software and digital platforms deliver unparallel value that drives business performance, mitigates risks and accelerates digital transformation.
Software & Platform Evaluation
The Software & Platform Evaluation offering ensures you are using the appropriate software solutions and applications that align with your organization to drive critical business outcomes. We collaborate with a wide array of accounting and enterprise resource platforms and providers intended to meet the business process support requirements of small organizations to global enterprises.
Areas of Focus
Processes – Are your processes manual, repetitive, slow and labor intensive?
Costs – Are you paying too much in software fees while administrative costs continue to increase?
Responsiveness – Do you have a long month-end close and are buried in spreadsheets? Is your workforce slow in communicating and making decisions?
Technology – Do you have multiple disparate systems running? Is your technology outdated and slow responding?
Revenue – Are you experiencing flat or declining revenue?
Collaboration – Are you having supply chain or communication issues with your customers?
Content and Data – Can you connect to your data? Do you have multiple storage areas and versions for documents?
The Software Selection and Engagement Journey
Determining the Need
Business Process Review
Understand and document your preferred business process model and the specifications and functional requirements of associated software.
Technology Stack Definition
Determine the preferred software technology stack and software architecture (client/server, web-based, mobile application components, etc.).
Software Residency & Access
Ascertain preferred software hosting and delivery model (on-premises servers, public cloud, private cloud, hybrid, etc.).
Software Search
Research the market and engage appropriate software suppliers with commercial-off-the-shelf (COTS) solutions that are a good fit for the functional requirements of the business.
Competitive Solutions Analysis
Software Demonstrations
Schedule remote Overview Software Demonstrations with each candidate software supplier, audit and supply feedback.
Fit/Gap Analysis
Compare candidate software applications against the published software functional requirements specifications. Grade and publish the results of the Fit/Gap Analysis identifying the top solutions.
Software Reference Check
Secure references and perform reference checks with semifinalists eliminating and adding if necessary candidates.
Solution Validation
On-Site Discovery Sessions
Perform an on-site discovery session with semi-finalists to validate findings in the technical and functional software requirements.
Workflow Template
Assimilate data and business process workflows for semi-finalists to construct and deliver a comprehensive software demonstration.
On-site Software Demonstrations
Utilize on-site, tailored software demonstrations for final selection.
Vendor Selection & Contract Execution
Reference Calls & Visits
Execute reference calls and accompany client to meet reference organizations and see software in action.
Software Configuration
Determine the software applications or modules needed.
Proposal Review
Secure and review priced proposals to make intelligent and informed decisions.
Implementation Team
Collaborative review of selected vendors’ project managers and consultants to identify and assemble the preferred implementation team.
Commercial Arrangement
Negotiate the commercial transaction between client and software supplier. If applicable, research and secure appropriate financing or leasing options.
The Digital Difference
Cherry Bekaert’s Digital Advisory helps organizations ignite growth by quickly assessing, transforming and sustaining business strategies based upon priorities, strategic plans and budget. Utilizing an agile and flexible approach, we help you to reengineer your business operations and services, examining each area with a focus on people, process, technology and culture.