Unfortunately there is no one size fits all solution and they type of vendor required depends on a variety of factors. It is important to mention that distinction should be made between the product and the vendor. It should also be acknowledged that while product sophistication is generally a good criteria, it is the quality of support provided by the vendor that often determines the project success.
 

What are the criteria that should be considered while selecting a vendor and product?
 

Gate openers:

• Product meets the functional and non-functional requirements.
• Sustainability and continuity of support.

Other subjective criteria:

• Costs – licensing, ongoing support and maintenance
• Whether both perpetual and periodic licensing options are available
• Hosting options
• Skills availability
• Total cost of ownership
• Feedback from reference clients
• Product roadmap
• Implementation risk
• Probability of success/ project success factors
• Operating model and operations

Figures 1 and 2 show examples of evidence and data based analysis for comparing the various product and vendor options for one of our recent clients:

Figure 1 – Vendor Analysis, Strategic Groups

Figure 2 – Critical Success Factors, Value Curve Analysis

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