Accounting Software Selection

(NOTE: The following is an excerpt from the Optimized RFP Guide. Additional information about using the Feature Support Matrix is available in the full Optimized RFP Guide. Please see the Optimized RFP Guide Details Form to order.)

   To be most effective during the accounting software selection process, an RFP must be much more than just a collection of questions vendors answer with a Yes/No or a free form essay response. Why? Because Yes/No is too limited, especially for software applications, and the free-form essay response format allowing vendors to respond with anything imaginable does not provide the response consistency needed for truly "apples-to-apples" software comparisons.
   An RFP using the Yes/No response format requires a question for each specific accounting software feature needed to accomplish a specific function, and this forces your RFP to be extremely long, with many questions. This makes comparing and evaluating responses to this type of RFP very difficult and error prone. It is also very difficult to easily and accurately analyze vendor responses to an RFP created with open-ended, essay-type questions, primarily because of the inconsistencies found in all the vendor responses.
   So just what are the right formats for a accounting software RFP? Two of the most useful formats are the Feature Support Matrix and the Multiple Answer Matrix for collecting both Risk Assessment and Functional data regarding large, enterprise-wide software projects. The Feature Support Matrix is discussed below, with application-specific questions in the example pages.

THE CORRECT RFP FORMATS

   There are several accounting software RFP question/response formats that can be used to maximize the usefulness and consistency of all vendor responses. This is important when one considers the fact that a specific accounting software feature can be provided (delivered) using many methods. These can range from being part of the standard product "out-of-the-box", or provided as a "No Charge" software modification (enhancement), or provided on a Paid-for software modification.
   Technically, a accounting software vendor can provide anything desired through custom programming, and this quickly becomes a problem because the issues of practicality and feasability are obscured by all the Yes answers. Just because a vendor states they are providing a feature as a no-charge modification does not mean they can deliver it on time or bug-free. The issue of RISK becomes very real.
   We recommend the following RFP techniques and question/response formats to obtain information in a consistent manner that cam also be used to assess both the SUITABILITY and the RISK inherent in a given accounting software proposal.

RFP QUESTION FORMAT EXAMPLES

   Use the following formats to create a truly useful RFP that will efficiently collect information that accurately portrays BOTH a proposed accounting software system's functionality AND it's RISK of implementation. Each example is first briefly explained, followed by an example highlighted in green.