Value Discovery
Vendor Selection
Create RFX, identify possible vendors, evaluate solutions, and generate business cases and proposals.
RFX Creation
Design an RFX document based on the needs and requirements at a business level, functional level, and technical level.
Deliverable
RFX Document
Ideal Format & Timing
- Multiple working sessions with SMEs to understand requirements
- 4-6 weeks
Key Activities
- Identify business level requirements.
- Identify functional level requirements.
- Identify technical level requirements.
- Create and write an RFX document.
Benefits
- Provides a full set of requirements for inclusion in internal and external RFX documents.
- Reveals a holistic set of business requirements, co-created by billing experts.
Vendor Shortlist
Research and provide a shortlist of possible vendors that could accomplish the RFX requirements for the business.
Deliverable
Vendor Shortlist
Ideal Format & Timing
- Various sessions with third-party vendors
- Timing depends on vendor availability
- 3-4 weeks
Key Activities
- Understand requirements, key points of complexity, scale and growth projections, budgetary constraints, and other key information.
- Research potential vendors.
- Meet with vendors and discuss requirements and identify large gaps.
- Prepare a shortlist of vendors for further deep dives and additional information gathering.
Benefits
- Saves time by providing vendor capabilities.
- Identifies vendors anonymously.
- Uses billing experts to vet requirements with vendors quickly and provide expert opinions on viable options.
Vendor Analysis
Assist in completion of full vendor analysis process (em dash with no spaces) from discovery, use cases, and demos to technical deep dives.
Deliverable
Vendor Comparison Overview Document
Ideal Format & Timing
- Varied based on level of involvement and company's purchase cycle process
- 3-6 months
Key Activities
- Participate in discovery calls and deep dives.
- Helps prepare use cases for demo or POCs.
- Participate in scoring and reviewing vendors on use case demonstrations.
- Provide a comparison document of vendors, including gaps and potential solutions for those gaps.
Benefits
- Guides conversations that reveal vendor capabilities.
- Provides a vendor analysis and recommendations by a credible third party.
- Identifies a holistic solution based on gaps that vendors present.
Business Case Development
Co-create a business case to articulate the need, urgency, and confidence in the selected solution.
Deliverable
Business Case Document
Ideal Format & Timing
- Various meetings with key champion(s) to help iterate and tailor content
- 2-3 weeks
Key Activities
- Determine the intended audience and necessary types of information for the business case.
- Construct a draft of the business case using client-specific information, best practices, and other market and industry data.
- Iterate and revise with champion(s) to tailor messaging for the business.
- Deliver document and/or co-present business case to stakeholders.
Benefits
- Uses industry and best practice research in the business case to further support objectives.
- Saves time in creating and researching a business case.
- Provides credible validation of the business case.
Financial Modeling
Create a financial model based on business needs (ROI, TCO, Buy versus Build, NPV).
Deliverable
Financial Model
Ideal Format & Timing
- Working sessions with SMEs to obtain inputs and assumptions
- 2-3 weeks
Key Activities
- Determine which financial models are appropriate to construct.
- Discuss available data, key inputs, and assumption levels with SMEs.
- Construct a tailored financial model for the business.
- Provide a readout deck of the financial model.
Benefits
- Saves time by using a third-party financial model tailored specifically to billing purchases.
- Uses industry knowledge and data to bolster the business case and add credibility.
- Provides a framework to help realize and measure value realization post go-live.