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Technology selection is a vital step in your organization’s technology strategy. It involves analyzing business scenarios and selecting a technology or technology stack and -solution partners if needed- to comply with the requirements of digital transformation strategies.
As Startin Strategy, we play a pivotal role in guiding organizations through these complex technology selection processes. Leveraging a deep understanding of industry trends and emerging technologies, we offer our expertise to identify and evaluate suitable solutions tailored to the unique needs and goals of your company. By comprehensively analyzing business requirements and conducting thorough needs assessments, we ensure alignment between technology choices and organizational goals.
We guide you in vendor evaluation and selection, considering the multiple functions stated below. With a focus on delivering measurable outcomes, we assist in navigating the vast landscape of available technologies, providing insights into market trends and the latest innovations. So we serve as a strategic partner, empowering businesses to make informed decisions, mitigate risks, and embark on a successful technology adoption journey.
Here are some important steps as a high level output from Startin Strategy Technology Selection Approach
The technical discovery step involves gathering the current state and desired output information about all the requirements and related processes that the technology must serve. This initial analysis helps establish a broad picture of the transformation project's expectations and scope in line with the needs of stakeholders and the overall strategy. At this stage, companies should explore existing and emerging technologies on the market, evaluate the strengths and weaknesses of existing technologies in the organization, and consider technical constraints such as IT infrastructure solutions and training requirements. The output of this step is an RFQ document containing all technical and administrative requirements.
This is the step in which companies should narrow down the technology options by creating a shortlist of potential vendors or suppliers. This can be achieved through a (RFQ) reference. The shortlisted vendors should provide information about their technology, including demos, proof of concepts (PoCs), reference checks and proposals. It is crucial to critically assess the proposals and evaluate how well each technology meets requirements with multiple dimensions.
In this phase, key terms should be agreed such as pricing, scope, delivery timelines, and service-level agreements on the short-listed vendors. Legal experts during negotiations should ensure that contractual terms are legally sound and aligned with the organization's best interests. The output of this phase is a signed contract with all required pricing, legal and technical subjects included.
When evaluating technology options, it is crucial to consider a set of key criteria to ensure the selection aligns with your organization’s needs. Here are some main criteria to evaluate:
Feature set that meet your requirements. Gaps should be evaluate if they can be filled through customization.
The strength and size of the technology's ecosystem are as crucial as the technology itself. Unfortunately, these criteria are underestimated in most of the selection processes.
