Advisory

Technology Acquisition

Successfully transform procurement technology using both ‘best-of-breed’ and ‘fully-integrated’ solution-approaches.

Strategic Approach to Selecting the Best-Fit Solutions

Leverage Industry-leading Technology Platforms To Improve Procurement Efficiency & Effectiveness

The vast technology landscape can present a challenge to procurement decision-makers. Velocity’s technology team understands the complexities of procurement technologies and uses that expertise to help clients along the technology improvement journey.

Best-Fit Solutions

Best-Fit Solution Selection

1

UNDERSTAND
Perform rigorous internal needs and stakeholder analysis

2

DEVELOP
Specifications and strategy for solution evaluation

3

EVALUATE
Leverage formal strategic sourcing and change readiness

4

PROPOSE
Preform internal selling and justification

Ready to begin your Procurement transformation?

The Best-Practice Approach to SaaS Solution Evaluation & Acquisition

Utilize an effective model for conducting a formal needs analysis and fit/gap assessment, including a detailed business case leading to an efficient sourcing decision.

ASSESS
  • Internal & External Analysis
  • Market Intelligence
  • Business Process Fit/Gap
  • Develop Requirements

DEVELOP
  • Formalize Specification
  • Evaluation Strategy & Criteria
  • Roadmap & Budget
  • Pre-Screen Providers

SOURCE
  • Formalize Specifications
  • Execute RFx
  • Provider Comparison
  • Short-List Viable Options

COMPARE
  • Scenario Analysis
  • Stakeholder Feedback
  • Confidence Factoring
  • Cost/Benefit/ROI

JUSTIFY
  • Executive Presentation
  • Cross-Functional  Buy-In
  • Financial Readiness
  • Go/No-Go Approval

AWARD
  • Commercial Package(s)
  • Final Deliverables
  • Financial Commitment
  • Provider Enablement

A Few Keys to Success

In some instance, procurement organizations have achieved a certain level of maturity or have excelled in some areas of their business, but still need some degree of support in expanding their capabilities 

Establishing the vision and plan is essential to understanding where you’ve been and where you are going is critical – too many companies focus purely on short-term needs, such as features and functionality.

Getting the leadership, stakeholders and key users on-board early in the program will ensure all the needs of the business are addressed and optimal adoption has a real opportunity to be realized.

Ensure that what you develop in your business case matches what vendors demonstrate for you, and that these requirements are correctly included in the quote and SOW. Aligning the business case and the final delivered solution is where most projects go wrong.

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