Forrester`s Practical Alternative to RFPs



We recently hosted a webinar presentation on the latest enterprise performance management trends by Paul Hamerman, vice president and principal analyst for Forrester Research and a recognized EPM expert.


The webinar, which is divided into several chapters for efficient viewing, is crammed with valuable information for anyone interested in keeping up with the EPM market.

But, I urge anyone involved in an EPM selection – now or in the near future – to pay particular attention to the fourth segment, “How to Evaluate EPM Solutions.” In several slides, Paul distills a practical and efficient methodology for EPM evaluation that minimizes the risk of a wrong decision and will definitely expedite your selection process.

For those of you who follow Paul, you already know he is not a fan of RFPs for many, many reasons. Often there’s a disconnect between what companies think they need and what they actually need. Requirements are often inappropriately prioritized and/or weighted. RFP templates may be dated and therefore may penalize those vendors with more innovative solutions. The list goes on.


Forrester’s Practical Alternative to RFPs

Rather than RFPs, Forrester recommends a weighted evaluation for 3 areas:

  1. Product evaluation
  2. Vendor strategy
  3. Vendor presence

The slides include a detailed list of criteria for each area with associated weightings.

The weightings shown are those Forrester recommends for large, complex enterprises. Of course, these weightings can (and should) be changed to reflect the specific needs and challenges of a company.

The criteria lists and default weightings are research based and very comprehensive. Additionally, they reflect the latest technology trends and modern EPM practices.

We believe Forrester’s approach to evaluations, coupled with detailed demos based on actual use-case scenarios, are the best and most efficient ways to go about making an EPM selection.

We find it interesting that Paul stresses the importance of testing use cases outside of the primary financial-related processes, such as for determining the ROI of marketing campaigns, strategic workforce planning, service cost allocations, construction planning, sales target analysis, and operational planning. We use the Tagetik solution internally for many such purposes, and we’re finding more and more customers who are also expanding their use beyond traditional finance.

Paul also discusses in the webinar his overarching recommendations for an EPM solution. He is a big proponent of cloud-based solutions, with their rapid implementations and continuous updates. In addition to collaboration and advanced reporting, he also emphasizes modeling and analytic capabilities, as well as mobile user experiences. Integration across multiple systems and from on-premises to the cloud is also critical.

We encourage everyone involved or interested in enterprise performance management to carve 30 minutes out of your schedule to view this webinar.

We guarantee you’ll come away with information and perspective that is new to you.

Additional resources:

  • The Forrester Wave: Enterprise Performance Management, Q4 2016. Download the complete report here.
  • Internal Uses of Tagetik. Download case study here

Forrester’s Practical Alternative to RFPs | Tagetik Blog

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