Requirements Analysis & System Selection
With our global reach and knowledge of leading banking systems, SOFGEN is able to advise clients on all aspects of system replacement and selection. We provide you with an effective framework for evaluating and selecting a software vendor and where necessary, an implementation partner.
We help our clients with some or all of the following:- Design of the System Selection Process from Business Requirements Analysis and RFI/RFP preparation to vendor evaluation, selection and contract negotiation.
- Preparation of a Request for Information (RFI) to send to potential vendors. In geographies where we do not already have in depth market knowledge, we partner with best of breed banking consulting companies so as to ensure that the most appropriate vendors are targeted.
- Building upon the Business Requirements Analysis [business requirements analysis] we assist our clients in the preparation of a Request for Proposal (RFP) to send to vendors who have passed the RFI phase.
- When required, we provide guidance in the evaluation of vendor responses to the RFP and we draw up a short list of the best candidates. We form an evaluation team, define evaluation criteria, develop a scoring system, and review and score the responses.
- Make the final vendor selection. We will arrange workshops for the short-listed vendors, prepare test cases for the workshops, conduct site visits to vendor clients and the vendors´ offices, review the vendor offers, and prepare recommendations for your board of directors.
- Define a budget for the implementation and benchmark Total Cost of Ownership (TCO) against best practice.
- Negotiate the contract with the selected vendor and/or implementation partner. We will appoint a contract negotiation team, leverage our knowledge of best practice in order to ensure that common pitfalls are avoided, and provide assistance in the negotiation of the contract.
- Assist the client´s implementation team with final presentations and board project approval.
