Why do so many system selections go wrong or just take so long?
They needn't. Quite often the team involved in the selection
process have not had the experience of running a selection before
and may not have knowledge of the specific business area, nor
of working closely with systems vendors. This can lead into a
selection process taking months to complete while risking reputation
the lack of appropriate communications with the external vendors.
Square Mile consultants have had experience of running many system
selection projects across the financial services sector. Square
Mile has developed its own fast track methodology
to minimise the time taken to select a system solution. Using our fast
track methodology a typical selection project would last
two months from initiation to recommendation.
How can Square Mile achieve this? The fast track methodology
adopts the following approach:
- Use which can then be fine tuned for each specific
assignment. This cuts down work effort in designing documents from scratch.
- . Square Mile has developed model business
requirements for many financial services functions which can then be tailored
to individual client needs. This significantly cuts down the time taken
to undertake in depth interviews and business analysis in order to prepare
the detailed business requirements.
- Create a made up of appropriate
business and IT personnel. This allows activities to be conducted
rapidly and in close succession which reduces the actual elapsed time
- . Based on experience we know which
activities can be run in parallel and which cannot.
- Our approach
is to ensure that all the vendors have sufficient information
and guidance provided to enable them to present their products
in the best way possible to match our client's needs.
Because each assignment is different it is important to adopt
a flexible and innovative approach to these assignments. We have
gained experience of running many system selection projects in
a wide range of scenarios. This gives us the confidence and ability
to adapt our approach to match the specific needs of our clients.