A guide on taking a software procurement decision through the final stages, from implementation to change management.
After the purchase decision and the contract details have been ironed out, the work is far from over. In our other blogs in this series, we’ve spoken about the DOs and DONTs when researching a new software, we’ve focused on the decision to build or buy a new tool, and looked at the common pitfalls that can affect an enterprise software acquisition.
Yet after all that work of weighing up options, comparing tools, engaging with vendors, and eventually coming to a consensus decision, the task of bringing the new tool on board remains. This phase includes the technical integration of the new tool, change management considerations, training your team, and planning future maintenance, evaluation, and improvements.
To best explain how to navigate the onboarding phase – we’ll talk you through CostPerform’s 8 Step Integration Framework. By understanding a real world process of how to integrate a new software tool, you can be well-prepared for your role in getting the procurement decision over the line in your own software purchase journey.
CostPerform’s Eight-Step Framework
After speaking with our sales team, making the decision to go forward, and finalizing the contract agreement, your new client success partner will take you through the following steps. This structured approach has been fine-tuned from 20 years of experience bringing new clients on board with the CostPerform software. The process, at a high level, is as follows, with a further breakdown beneath.
Hint: ask for an implementation plan in advance, while still assessing the pro’s and con’s of each software on your shortlist. This is an efficient way to determine quality of fit.
The Steps
- Goal
- Design
- Data
- Model
- Validate
- Report
- Automate
- Document
In-detail: The Eight-Step Framework explained
- Goal: Set clear goals for your tool integration. What are the objectives of your new cost model? Is it financial accounting driven or management accounting driven? When will the model be deemed a success and what strategic goal do you hope to meet? Involve senior management, project sponsor and all the relevant stakeholders. The output from this stage is a one-page document, outlining main goals
- Design: Design your model on “brown paper”. Determine the methodologies you’ll use. Discuss more in-depth decisions and technical specifications. For cost modeling software, are you using reciprocal or step-down methodology, single or multidimensional? Make sure to involve all relevant stakeholders. Your output: A metamodel document.
- Data: Determine your data needs and sources. Assess the completeness and quality of your data. Determine required processes to collect data and discuss specifics such as ETL procedures (Extract, Transform, Load). For this phase, involve your data specialists and model specialists. Output: data-model document.
- Model: Build the actual model in CostPerform. Get started with loading the data for your cost modeling layers, objects, and attributes etc. Involve only your model specialists. For this step, the output is a working CostPerform model.
- Validate: Validate your outcomes with business stakeholders. Omissions will likely be found, new design failures may arise. Address, improve and document. Ensure all relevant stakeholders are involved. At this stage, your output is a validation document.
- Report: Outline and run the necessary reports. Ensure the goals are correctly addressed. Drill into the details, do you need lists, graphs, pivots, self-service? Input from all stakeholders is needed. Building and reporting can be done by model specialists. Your output is a report set.
- Automate: When the model is stable, get to work on automating the steps for ongoing usage. Set up workflows for data collection, reporting, and ETL processes. Set sure your time is put toward analysis, not on maintenance. Your output is a repeatable update process.
- Document: The final step is documentation. Though not a distinct phase, documentation is highlighted as it’s a vital piece of the puzzle in integrating a CostPerform model. As is clear from the desired outputs throughout, documentation is a critical output in ensuring the process is followed accurately.
The CostPerform implementation framework and your software procurement journey
From the above eight steps model of CostPerform’s integration, you can start to understand what is required in an enterprise software integration. It’s a process with numerous stakeholders, reaffirming the importance of reaching a consensus decision when you decide with provider to opt for. Documentation, as we have mentioned throughout our series on Software Procurement, is key. And along each step of the way, preparation and an awareness of the path ahead out will prove invaluable. While you can’t completely eliminate the risk of a bad decision, you can avoid an ill-informed one by keeping these steps in mind.
