Evaluating software platforms: a tech scouting approach
“Software is eating the world” … or something like that. For a given application area, there are now dozens if not hundreds of software platforms to choose from, and it’s becoming increasingly difficult to determine which platform to use. Selection criteria includes key features and functionality, on-prem vs. cloud deployment, pricing, pricing models (usage vs seat-based), scalability, security, integrations, APIs…the list goes on. And these are just a few of the many factors that go into consideration when deciding on a software platform. Aside from the standard checklist, a key component is truly understanding how each platform compares to one another, how they’re differentiated, and how that differentiation results from some core capability or underlying technology.
Large enterprises consistently turn to yet2 for help understanding how new technologies or products compare to other new entrants or incumbent technologies. Within software, we’ve worked with several clients to scout for possible software options, prioritize potential tools against one another based on key criteria and Comparative Value Propositions, and evaluate the top candidates through custom demos or trials. Download our latest case study to learn how we helped one client evaluate over 300 emerging machine learning software platforms.
Some other trends from our software scouting projects include:
- Enterprise prefer tools they can trial and use with little to no commitment. Potentional users want hands-on access early on in order to better understand and evaluate the software’s capabilities and limitations to make faster decisions…they don’t want to sit through 2 qualifying calls and finally get to the demo, which then turns out to be a 1-hour non-customized script.
- Enterprise prefer software tools that specialize in a particular focus area rather than trying to be the one-stop shop, e.g. platforms that focus on analyzing data for anomaly detection in key laboratory equipment are preferred over platforms that claim to be end-to-end laboratory management platforms. They prefer specialization over breadth to ensure they’re leveraging the best technology.
- Open source software platforms continute to be of strong interest to Enterprise due to the continued innovation by the community of contributors and other benefits
Download our Case Study: Emerging Tools in Digital Technology to learn more.
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