Saturday, July 20, 2024

Enterprises struggle to make informed decisions on IT sourcing

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Businesses are keen to adopt new technologies in their quest for digital transformation but often face a maze of biased information and incomplete data that hampers the decision making process.

A new report from request for proposal (RFP) specialist Olive Technologies looks at trends and requirements from real-world RFPs, managed through the Olive platform, to help organizations make data-driven, unbiased decisions when selecting IT solutions.

Most-researched categories include CRM and ERP as well as point of sale and learning management systems. In each of these there’s evidence that big suppliers with considerable marketing clout are achieving low selection rates, suggesting that you need more than good market presence to secure sales.

Data and reporting emerge as the top two requirement themes, reflecting companies’ awareness of the value of their data and their desire for clear, actionable insights from tech vendors. Interestingly while AI is a commonly hyped feature, it ranks low on actual requirements included in RFPs. However, it is the fastest-growing search term in 2024.

Integration and configuration rank high on requirements too, indicating that companies struggle with connecting disparate systems and want to see out-of-the-box integrations from vendors.

“Unlike trend reports, vendor-influenced reviews or biased market comparisons, Olive’s report is built on the foundation of real-world data from actual RFPs, ensuring that the insights provided are authentic, objective and directly relevant to the needs of modern businesses,” says Chris Heard, Olive’s CEO. “By leveraging this information, decision-makers can confidently navigate the complex vendor landscape, identify the solutions that best align with their specific needs and drive successful digital transformations within their organizations.”

The full report is available from the Olive site.

Image credit: SergeyNivens/depositphotos.com

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