There are numerous risks inherent in any major project, particularly mission-critical, high visibility ones such as performance management. Here are several key risks identified by Finance teams in the midst of (or just starting) a budgeting, forecasting, planning, consolidation, or financial reporting project:
Source: BPM Partners 2017 BPM Pulse Survey
The most common way to mitigate these risks is to engage a management consulting organization with specific expertise in performance management. However, some organizations would prefer to Go It Alone. For them, we now offer the Go It Alone Safety Net. This service is designed to significantly reduce the risks without the need to involve consultants. Visiting vendor websites, viewing canned demos, and reviewing analyst reports and whitepapers is not sufficient to ensure a successful outcome.
Go It Alone Safety Net from BPM Partners
The industry leaders in performance management vendor selection have designed this new service to enable you to Go It Alone, but without the increased risk inherent in that approach.
Leverage BPM Partners' proven tools, methodologies, and expertise without the costs and trade-offs typical of consulting projects. Stay in control of your own project and keep costs down while leveraging BPM Partners' Go It Alone Safety Net to reduce the risk of:
- Requirements that are too high-level or too narrowly focused to get you to the best solution for today and tomorrow
- Evaluating the wrong vendors based on marketing hype, slick websites, or biased reports
- Purchasing a solution based on highly polished canned demos and being surprised down the road by how difficult it is to use, implement, and maintain
- Missing deadlines or budget due to trial and error/learn as you go approach to the project
- Buying more than you need and/or paying more than you should
- Lack of buy-in and adoption leading ultimately to project failure
The Go it Alone Safety Net is designed to make sure you 'get it right the first time' by including the following deliverables:
Quickly Get Up to Speed Education for you and your team on the performance management market including an overview of the key vendors, research on the projects and plans of peer organizations, and latest trends to be aware of, all delivered via a live web conference.
Learn Our Methodology
Review of performance management project best practices and BPM Partners' vendor selection methodology that has been used successfully at hundreds of companies both large and small. From developing a roadmap to putting your vendor finalists through a 4 hour scripted demo to asking the right questions during your reference calls, we will share all the details with you.
Develop Comprehensive Requirements with the Right Level of Detail
Our performance management requirements worksheet will enable you to quickly develop your own requirements by selecting from a pre-existing list of commonly requested capabilities, as opposed to starting with a blank sheet of paper and potentially missing key items. These requirements and related priority weightings are key to identifying the right vendors and developing a custom demo script for on site vendor evaluation and scoring sessions.
Focus on the Best Fit Vendors
Custom vendor recommendation report that cuts out the hype and noise and identifies several vendors that based on our experience are likely to be able to meet your business requirements and budget. Report contains unbiased overviews of each vendor, pros and cons for each tied back to your specific requirements, as well as 15 separate customer satisfaction attribute ratings for each.
Get the Ideal Solution at the Best Price
Pricing guidance that compares your vendor proposals to our database of actual prices by vendor for similar size systems. We identify opportunities for savings and guide your negotiations to make sure you buy just what you need, at the best price, with the best terms. The savings gained from this aspect of the Go It Alone Safety Net alone will more than likely cover the cost of the entire offering.
"BPM Partners provided structured processes, tools, contacts, expertise and insight into the vendors that we didn't have in house. Their guidance and processes were tremendously valuable in achieving a decision that all of our key stakeholders could own."
Mark Allen Buechler
Vice President - Financial Reporting
HCC Insurance Holdings, Inc
"As we started considering performance management alternatives, our main concern was to identify ... ‘what don't we know?’... BPM Partners was able to educate our team to ensure we had the necessary knowledge and process to choose the right solution for our company. In addition, the guidance and assistance BPM Partners provided helped us develop a negotiation strategy that secured pricing with the vendor that we would not have been able to obtain ourselves. This savings more than paid for BPM Partners’ services. Overall we are a very satisfied customer."
Director, Financial Reporting and Analysis
Meridian Lightweight Technologies, Inc.
"BPM Partners further educated us on the budgeting market, vendors and their offerings, so that we could take a huge list of options and confidently choose the right package for Latham & Watkins."