In a post on comparing the Hansen Fit Score to other analyst ranking maps and methodologies, THE REVELATOR asks “which would you choose, and why”, to which the doctor responds that THE REVELATOR has to be a lot more specific, because, depending on your context, there could be three choices
1) The Hackett Group Inc. KPIs for zeroing in on what type of technology you should choose for the biggest boost to your business as there’s no arguing with their book of numbers. But this doesn’t give you a shortlist.
2) Spend Matters, A Hackett Group Company Solution Map for deep tech assessments, allowing you to qualify tech for consideration before doing a deep dive assessment on business needs (and we all know that most people can’t do this effectively). Once you know what module, or modules, you need, SolutionMap will give you a qualified list of the best, rated, vendors with those modules.
3) Jon W. Hansen fit score for sieving a shortlist of relevant vendors who make the tech cut into the 3 most likely to be the best organizational fit to invite to the RFP where they can prove their worth AND interest in actually making your organization successful
However, the optimal route, if you have the time and money, is 1, 2, 3 … (and let’s face it, since this could save you millions, you likely do). Why? When you use
1) you focus in on the specific problem set/module (set) to attack first for the biggest impact
2) you filter down to those providers who have the tech to do it
3) you filter down to those that would be right for your business on the other dimensions 1 and 2 does not address.
However, none of these approaches can
0) perform a gap analysis, determine what problems you need to solve, and help you center your analysis on the right metrics or numbers or
5) take the short-list you are left with after using Spend Matters Tech Match (built on Spend Matters Solution Match) or the Hansen fit score and construct a proper RFX to help you determine which vendor will provide you with more than a license but work with you to implement, and execute, a proper solution.
And that’s why there’s no super selection map for source-to-pay!
(And please remember, never use a big analyst firm quadrant map because vendors have lured big analyst firms astray.)