Software Evaluation Template: Choose The Right Tech For Your Business

Software evaluation can be a long and strenuous process. There are so many different pieces of software that it can get overwhelming. And after a while, all the vendors look the same.

So, how do you evaluate software and make the right decision for your company?

Simply create a software evaluation template that can streamline your process. It’ll help you consider the business goals of your company and the needs of your team members and save you a lot of time (and potentially costs).

In this blog, we’ll guide you on how to build a software evaluation template, including assessing your business problems, which evaluators to involve, and key criteria to look at.

Plus, we’ve included a customizable evaluation template and checklist to help you along your journey!

What Business Problems Are You Looking To Solve?

The first and foremost important aspect of software evaluation is to identify the pain points you’re looking to solve. This is the starting point for building a business case to purchase new software.

Most software is designed to help with one or more of these three core areas:

• Help increase revenue.
• Decrease costs.
• Improve productivity.

Evaluate and build a strong case for how software will support revenue generation, cost reduction, or productivity. 

Alternatively, justify the reasoning if you plan to switch software for an alternative solution. 

If you need software for an ongoing need or a short-term project. In either case, how soon do you need the solution in place? Timing is critical, so plan accordingly.

Who Should Participate in the Software Evaluation Process?

Evaluating software is a team sport, especially if the choice impacts multiple team members or departments.

Involve team members who will likely be administrators, users, or directly involved in implementing the software evaluation.

For example: If you’re evaluating sales prospecting tools, you’ll want to consider bringing in team members using the software consistently. You might also want to include sales leadership, who would indirectly need to use the software. Although they don’t need to be a part of the entire evaluation process, having their buy-in is critical to a successful software implementation.

Key Stakeholders

These are the team members whose work will most affect the new software. Their insights can pinpoint the exact needs and requirements the software must meet.

Economic Buyers: They have visibility into strategic goals and budgets and can provide executive sponsorship for new software.

IT Department: Your IT professionals understand the technical aspects and can assess compatibility with existing systems.

End Users: People who use the software daily know which features are essential for their productivity. 

Department Heads: Decision-makers can provide strategic oversight and ensure the chosen software aligns with business objectives.

Finance: Support financial decisions on budget allocation, negotiation, and ROI modeling.

Functional Experts: These participants have specialized knowledge that can help in evaluating specific features of the software that may affect areas like:

• Accounting
• Human Resources
• Customer Relationship Management
• Project Management

Depending on your software evaluation process, you may need to involve someone from the procurement team as well. They have expertise in negotiating contracts and understand the true cost of software ownership.

Involving an external consultant is also an option, especially if your organization lacks in-house expertise. They can offer a different perspective and help you assess your needs against market offerings.

What Criteria To Include in Your Software Evaluation Template?

Evaluating new software can be an overwhelming experience.

There are so many different types of software–both new and old. How can you even tell the difference after sitting through multiple product demos?

So, how do you objectively choose the right technology for your company?

Assess the critical criteria influencing your overall experience and satisfaction with the product. This means boiling down what you need into a software evaluation template that addresses the core features, integrations, and criteria you’ll need.

Here’s what you can include in your software evaluation template.

Core Functionality

Figure out the mission-critical and nice-to-have features important to you and your organization. Ensure the software can accomplish the primary objective you require and that these features are robust and effective.

Integrations

Check if the software connects seamlessly with the existing systems you currently use. A list of possible integrations, including APIs, should be available to confirm compatibility with your existing tech stack.

Performance

Evaluate how the software performs under different scenarios. This includes checking load times, processing speeds, and how well the software functions when multiple users access it concurrently.

Usability

Focus on how intuitive and user-friendly the software is. Look for a clean user interface (UI) and assess whether the navigation is straightforward for users with various levels of expertise.

Security, Privacy, and Compliance

Ensure the software meets security standards and complies with data protection regulations relevant to your industry or region, like GDPR or HIPAA. In the enterprise, you’ll likely need specific security certifications such as SOC I and SOC II.

Pricing

Review the pricing models and determine what is included in each tier. The cost should be transparent and scalable, according to your usage and growth expectations.

Documentation

Verify the software has comprehensive documentation, including user manuals, FAQs, and troubleshooting guides to support self-service.

Implementation

Consider the ease of implementation, including the time and resources needed. Look for information on setup requirements and any onboarding services the vendor provides.

Support and Training

Determine the level of customer support available, such as 24/7 assistance, dedicated support representatives, or community forums. Check if the vendor offers training sessions or resources for new users.

Scalability and Future-Proof Software for Future Use

When you select software for your needs, think about how it will scale as your company grows.

Scalability refers to the software’s ability to handle increasing workloads without sacrificing performance.

Future-proofing, on the other hand, involves ensuring that your software remains useful and relevant as your organization’s needs evolve.

• Assess Potential Growth: Consider projected user increases and transaction volumes. The software should accommodate this growth without requiring a complete overhaul.
• Modular Design: Embrace software with a modular structure. It allows for enhancements without disrupting the core functionalities.
• Compatibility and Integration: Check for compatibility with existing and potential future systems. Seamless integration enables smoother transitions when adding new modules or features.
• Update and Support Framework: Ensure there’s a robust support system that offers regular updates. Software that’s continuously improved tends to stay relevant longer.
• Flexibility and Customization: Look for software that offers customizable options. Your future needs might require adjustments that shouldn’t necessitate starting from scratch.

By evaluating scalability, you’ll be better prepared to choose software that not only meets your current needs but can adapt to future demands.

Importance of Doing Reference Calls with Customers

When evaluating software, ask each vendor for a reference call with current customers. This can provide invaluable insights. 

Ask for a customer who shares a similar situation, such as the same industry, use case, or company size.

You’ll get a real-world perspective on the software’s performance, which can be quite revealing. Here’s what you should verify during your reference calls.

• Gauge the ease of onboarding new users.
• Learn about the responsiveness and helpfulness of the support team.
• Find out how the software handles bugs or service disruptions.
• Discuss the software’s ability to grow with a business.
• Build relationships with other customers that can help with future questions.

Frequently Asked Questions