How we evaluate platform management solutions

There are a good many platform management software solutions available to private market businesses. From established market vendors to new and emerging players, the options available are significant.
But how do you know what will work best for your business. Should you stick with what you’ve got, or explore a new option? Evaluating platform management software involves considering various factors to ensure it meets your organisation’s specific needs and requirements. Here, we offer our thoughts on the key steps that should be taken to arrive at the right outcome for your business.
Step 1
Understand Your Current Challenges
Use this as an opportunity to understand the current process your organisation is using, highlight the gaps and pain points. Use these to define a business case for and the benefits gained by the change. Just hover over the boxes to see a few examples of what we mean.
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Automation of collection and reporting, reducing time taken and instances of late reporting
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Perform analytics, deriving insights that can be used as a driver for change
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Using data to demonstrate success of a business plan and an overall strong track record
Step 2
Define Requirements
Start by clearly defining your organisation’s requirements. Determine what features and functionalities are essential for your platform management needs. These needs should include;
- Robust data collection processes
- Clear data auditability
- Strong and intuitive reporting capabilities, and so on.
- Solution should be cloud or self hosted?
- Should boast integration capabilities?
- Single sign on, two factor authentication, or other security measures?
- What level of support does the solution need?
- What are the key features of the implementation process, is it vendor or client led?
- What are the high level time frames to start deriving value from the platform?
Step 3
Seek Feedback from Stakeholders
Involve key stakeholders from various departments (e.g., IT, Operations, Finance) in the evaluation process. Gather feedback and insights from end-users who will be using the platform management software on a daily basis to ensure their requirements are addressed, and let them see the options!
Step 4
Compare Features
Create a list of key features and functionalities you require in platform management software, based on the requirements definition phase. Ensure that each of these items is ranked based on their importance to the organisation and project. Compare different solutions based on these criteria, seeking written functionality feedback from the vendors, as well as seeking in-depth demonstrations of the features.
Step 5
Research Options
Conduct thorough research to identify different platform management software solutions available in the market. Consider both established vendors and emerging players. Explore their websites, product documentation, customer reviews, and case studies to gain insights into their offerings.
Step 6
Trial and Demo
View a demo of the solution, ensuring that your needs and priorities have been communicated prior, giving the vendor the opportunity to tailor their presentation accordingly. Whenever possible, request a trial of the platform management software to evaluate its usability, functionality, and user experience first-hand. Test different features, workflows, and use cases to assess whether the software meets your organisation’s needs effectively.
Step 7
Review Vendor Reputation and Support
Consider the reputation and track record of the software vendor. Look for customer testimonials, case studies, and references to gauge their reliability, responsiveness, and level of support. Assess the vendor’s commitment to ongoing product development and updates.
Step 8
Evaluate Total Cost of Ownership (TCO)
Consider the total cost of ownership over the software’s lifecycle, including upfront licensing fees, implementation costs, ongoing maintenance and support fees. As well as any additional expenses, such as training, customisation and hosting. Platform maintenance should be strongly considered – there are advantages to having an internal platform management resource, but the cost of training and key person dependencies should also be considered. Compare TCO across different solutions to make an informed decision.
In conclusion
By following these steps, we can help your business effectively evaluate different platform management software options and select the solution that best aligns with your organisation’s objectives, requirements, and long-term goals. If you’d like to discuss this is more detail, then please do get in touch.
Contact Us
Our team of experts is ready and waiting to discuss your unique needs.
- +44 (0) 20 4551 9191
- info@itventure.com