Web-Based Vendor Selection Achieves Favorable Pricing

Background:

A leading Midwest financial services organization with 3,500 employees needed to replace its existing payroll and human resource information management (HRIM) system because the current platform could not sufficiently respond to the organization’s reporting needs or data tracking requirements.

Challenge:

Findley partnered with this organization to evaluate vendors based on a focused and efficient presentation of its functional requirements through the use of lmpetro.com™, Findley’s proprietary web-based vendor selection system. Findley developed a thorough demonstration script and scoring tool to provide the organization with a structured procedure to evaluate the HRIM finalists chosen through lmpetro.com™. In addition, Findley provided suggested language to ensure that any contract and service level agreement accurately reflected the proposed services and performance expectations.

Solution:

The outcome of the project was a new HRIM system that enabled the organization to significantly improve processes and offer employees and managers self-service.

Findley’s consultants imparted an objective, informed perspective to the engagement by assisting the organization in collecting data through individual interviews and focus groups with process owners to develop detailed functional requirements that were used to measure vendor capabilities.

Impetro.com™ provided structure that allowed the organization to quickly analyze the relative strengths and weaknesses between HRIM systems and best of breed solutions as well as identify and quantify the gaps between the organization’s functional requirements and the vendor’s capabilities.

The custom demonstration script developed by Findley served as a functional outline to provide a balanced approach to scoring the finalists on an “apples-to-apples” basis and allowed the organization to select a vendor that would meet or exceed its expectations.

Results:

Using lmpetro.com™ to leverage market knowledge in a competitive vendor selection process, Findley was able to assist the organization in preparing a proactive negotiating strategy. Building on Findley’s market knowledge and experience in other vendor selection projects, the organization was able to achieve favorable pricing and terms and conditions in the contract and service level agreement.

Category: Findley Proof
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