Selecting the right software is the first step in a lengthy process and will help prevent implementation problems, surprise costs and should mean that teething problems are reduced once the system is operational and should lead to high levels of user satisfaction.
The following 10 step guide outlines the process required to successfully select a new system and if followed will ensure the organization selects the Enterprise Software product that they need to meet their specific business requirements. First-class project management is the key to success for any major Enterprise Software change project and the participation of experienced, appropriately qualified change consultants with he appropriate mix of technical and soft skills and ability to work effectively with users and the business is a pre- requisite.
A team should be assembled to conduct the project once the business case has been established and the decision made to select a new system. The selection team should be familiar with the process including gathering user requirements, identifying potential vendors, liaising with vendors, attaining product demonstrations and obtaining customer references. The team should include an important sponsor from the organization's executive management team who will ideally report directly to the CEO and will have support from fellow Senior Directors and other top managers in the affected business areas.
The Project Manager should co-ordinate the internal needs assessment for the business, draw together a team from the business to assist with the selection process, liaise with software vendors and managing the evaluation process. Changing Enterprise Software is a business decision and not purely about technology. The selection Project Manager will often be the Finance Systems Manager or a member of the Finance team, however some organizations hire externally for this role so the selection process is handled out impartially.
A Consultant with a broad range of systems and selection experience may also be engaged to provide specific product advice. If a third party is used to run the selection process in-house Project Manager will still be required to oversee progress and ensure the needs of all parts of the business are addressed during the selection process.
Although using this approach is less disruptive in terms of the use of internal time and resources, many organizations prefer to keep selection in house and exceed the process themselves. It is important to ensure that the external party is completely impartial and has no connection with the software vendors and it is advised to seek references. The selection team should include individuals from all functional areas of the business affected by the proposed software change. They should be positive about the process and have a clear understanding of the needs of their specific functional area.
These individuals should be champions of the new system, have good relations with departmental colleges and be able to gather information effectively to help the process and pass on knowledge to the collections and keep them informed about the selection process.
Employee input is critical in any large system change project, as employees who will use the new system daily will play a vital part in identifying current processes that are inefficient or ineffective and will be able to suggest functionality that will benefit their day to day working lives.
Securing user buy-in for the change process and ensuring they are receptive to the new system is essential. People are naturally conservative and suspicious of change and may reject it if the process is not handled well, therefore ensuring user involvement in the process from the start means that they will be more likely to be supportive and helpful through, will wish to participate in the change process and be positive about the new system once operational.
It must also be remembered that users involved in the selection and consequential implementation process will need a reduced "day job" during this period and additional resources may be required to cover some day to day activities otherwise multiple demands may have a detrimental affect on the change program and may result in bad feeling which can put the project at risk. It is important to define early-on what the business aims to achieve by introducing a new system as critical success factors will not only help determine business needs, but will help keep the project on track and focussed on the most critical business objectives.
If the business does not know exactly what it wishes to achieve in terms of cost saving, time saving, streamlined processes, additional functionality and improved reporting processes then it is unilaterally to select the most appropriate system. It can be hard to identify all the features and functions required from a new system, so it is normally advisable to review current system functionality, what is used, what is not and discuss with users their likes and where improvements can be made.
It is also important to look at the organization's future plans to ensure that the new system is appropriate for these needs.
It is possible to obtain a list of key features provided by software vendors, however at this stage it is more important to focus on business process rather than be distracted by features which may not be relevant to the business. Situations where users spend most time or have the most difficult difficulty searching for or adjusting data are typically the areas of functionality which require an overhaul and will need further investigation.
The business must also ensure that these requirements are totally unambiguous and not open to misinterpretation as vendors respond to requirements in the same way and can be compared 'like-for-like' without further need for information requests. It is important also to establish which success factors are really critical for the project and which are simply 'nice to have' if costs and functionality allow, and these factors should be listed in order of priority.
Essential functions such as ease of integration with current systems which will be maintained or the ability of the software to run on current hardware should be looked at first as these factors can immediately disqualify certain vendors.
Differentiating standard or basic functionality available in all software packages from requirements that are unique to the business is also important as this will separate one vendor from another. Introducing new software should provide the opportunity to overhaul and improve business processes rather than simply provide new software to replicate previous processes.
Rather than simply introducing a new system running legacy processes, the business should look to make improvements across all relevant areas so the new system can take advantage of streamlined, more efficient working practices. Finally, the software chosen should offer value for money and a positive return on investment so that in the long term the change will positive effect the bottom line and will not be so expensive that it creates significant short term problems for the business.
There are various ways to obtain the initial long list of potential vendors and most finance systems professionals will be aware of the established software vendors and are likely to have worked with a number of systems themselves previously.
But although knowledgeable the Project Manager, it is important to conduct a proper market review prior to selection to ensure every option is considered and none are discounted for evaluation. The selection team may be surprised by the service and functionality offered by the smaller or less well-known vendors and should not automatically opt for the more established well known brands.
At this stage it is also important not to discount software resellers who may offer their own in-house developed functionality and workarounds, more competitive pricing structures and sometimes a more personal approach to account management and support. Sources of vendors and resellers available can be found using internet search, industry publications, collections, consultants, other industry contacts, conferences and seminars.
Remember that at this and every stage of the process people are vital and communication should be as open as possible to obtain information from as many sources as is feasible.
Once a long list of resellers and vendors has been identified and system requirements defined and prioritized, these requirements should be clearly communicated to the vendors in order to allow them to decide whether their software offers meet the requirements. A Request for Proposal RFP should be sent to each potential vendor asking them to respond if their software is able to meet the needs of the business. Vendors should be challenged with questions related to the defined critical success factors such as cost, functionality, customization potential, technology, implementation, support and licensing.
It is important that questions are clear and unambiguous in order to get a consistent response. Where possible vendors should respond to each requirement with a number relating to its availability and this can be used to give each vendor a score based on the 'fit' of their software to the business, although of course this will not always be possible with all responses.
It may also be beneficial at this stage to send an RFP to the businesses current software vendor for comparison, and it should not be discounted as by adding some additional modules, functionality or an upgrade it may be the case that the current software product may be the best fit for the business saving an expensive and lengthy implementation process.
Evaluating the responses to a number of RFP's can be a very time-consuming and in-depth process, if the long list is too long, it may be more practical initially to send out a list of key questions to vendors generally referred to as a Request for Information RFI covering only essential features and major requirements, to reduce numbers prior to sending out full RFP's.
The responses obtained from the RFP's can be used to score vendors on the suitability of their products and how closely they fit the business requirements and this should help reduce the list of potential vendors to no more than 4 which can go forward for further evaluation. RFP should be assessed quantitatively with a grading system weighed against the most critical business requirements and scoring algorithms that can be used for assessment. The scoring and weighting system and any criteria used in the initial selection should be pre-determined during the requirements gathering phase so that evaluation is objective and avoids any bias.
The lack of basic features such as critical functionality, the ability of a system that interfaces with legacy systems or databases may mean that some systems are immediately discounted; other evaluation processes may be more complex. Inviting about 4 or 5 vendors to provide an initial pre-sales demonstration is a good start to the selection process. Vendors will want to spend as much time with prospective clients as possible at this stage as they wish to establish a relationship but it is probably best to limit these initial sales demonstrations to no more than 2 hours and ensure that vendors focus on the most important business issues and do not simply focus on demonstrating the features of the product they wish to sell.
It is advisable to ensure that focus concentrates on the most business critical requirements and unique customisations or functionality. It may reduce time to look at initial demonstrations over the internet rather than visiting the vendor or inviting the vendor on site, although this may not be as sufficient to customized business needs and there may be less opportunity to ask questions.
Although attaining software demonstrations is critical to the process more can be learnt from companies who have already implemented the system than software vendor sales demonstrations trying to gain buy-in.
Vendors should be asked for relevant reference contacts so the selection team can discuss the process they went through and the difficulties they encountered during the implementation process and they can provide feedback on post go-live system performance.
Preparation is essential when speaking with references and a list of critical questions should be produced although one should be aware that these organizations are vendor 'success stories' who can be expected to provide a positive response.
It is essential to ask difficult questions about any challenges that they faced, any issues they had with the vendor and any outstanding system problems. Contact should also be made with similar companies that use the software being considered and it is worth obtaining informal "off the record" references as these will not have been selected by the vendor. It is also important to ensure that references are obtained from organistions in the same or a similar industry to the business who will have similar business processes, numbers of system users and transaction volumes.
It is essential that before a final selection is made the total cost of ownership of the system is fully understood. Another way to ensure the success of your commercial property management career is to build connections with your tenants. Communicate with your tenants regularly to get a pulse on what makes them happy and what makes them feel dissatisfied with their rental space. Tenants are more familiar with their individual spaces and may be able to point out potential problems that would otherwise go overlooked.
Personalized attention and connection will make tenants feel more comfortable in their spaces, leading to better property maintenance and lease renewals. These are just a few of the things that you can do to achieve success as a commercial property manager. For more information about commercial property management — and particularly about property maintenance — reach out to the HOMEE team today.
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If you do encounter an accessibility issue, please be sure to specify the web page or app screen in your email, and we will make all reasonable efforts to make that page accessible for you. A proactive maintenance plan should consider all aspects of a commercial property including: Plumbing Electrical systems HVAC and ventilation systems Landscaping Pest control Infrastructure Normal wear-and-tear paint, drywall, etc.
Fixing small issues before they can become larger issues is a good way to save money on property maintenance. The appearance of your commercial property can play a role in the success of the businesses that rent space there because it helps attract customers. This, in turn, helps tenants make their payments and encourages them to keep renewing their leases. It Helps Prevent Injuries. A lack of maintenance can lead to dangerous conditions in a structure. From respiratory hazards from mold growth, to tripping on uneven flooring, to slips in water puddles from leaks, there are many hazards that occur when maintenance is lacking.
Using preventative maintenance helps to prevent these injuries. Commercial properties are often valued based on their grade or class A, B, or C , with better grades being able to command higher rental fees. Falling behind on maintenance issues can lead to a reduction in class, which makes it harder to command a higher rental fee for the property.
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