Business Analytics Software Selection Process

So, you have been tasked with finding a Budgeting, Planning, Forecasting or Reporting solution.  This is an exciting opportunity for you to shine but there are a few steps in the process that you must accomplish.  Below we spell out the steps and success criteria to running an effective Business Analytics software selection process.

Preparation Phase

  1. Define your goals and how you will measure success
  2. Document the Current Processes identifying bottlenecks
  3. Clearly articulate the requirements and prioritize
  4. Begin to create a Project time line with decision dates, go live dates…
  5. Define the scope of phase one considering available resources, budget, and timing
  6. Define a core team of employees to be involved in the decision process
  7. Get an executive sponsor that will sign off on critical steps
  8. Find out the internal process for approval/budget for the project, identifying any approvals necessary.

Vendor Analysis

  1. Identify potential vendors
  2. Find a good reseller, they can save you money and oftentimes know more about the software than the manufacture.  See blog on this topic
  3. Issue a document with requirements and goals instead of a time consuming RFP
  4. Attend demonstrations after communicating requirements
  5. Discuss Implementation Methodology with the Vendors/Resellers
  6. Call references
  7. Prove/Confirm that the system will work for you
  8. Determine your list of top two vendors, remember you want to consider software and the services team
  9. Schedule a scoping call with the preferred vendor so they can give you a realistic implementation quote
  10. Request a quote that includes licenses fees, implementation, training, support, and hardware
  11. Negotiate the price and the contracts
  12. Get the final approvals internally

So if you're interested in learning about the correct way to run a Business Analytics software selection process, contact us at

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