Evaluating asset management services is not a simple task. Making long term investments in technology, people and processes requires a full due diligence process, budget and planning – unfortunately the importance and size of the task at hand is often underestimated. The most effective way to evaluate asset management services is to start small and build out a business case based on substantiated factual findings and results. Too many organisations fall into the trap of making investments without the proper due diligence, and this is often why they are unsuccessful.
Here are some tips on how to avoid some common pitfalls:
* Start where you know there is an issue or an opportunity, perhaps a single vendor, or just a component of your current solution, something like inventory management or lifecycle processes.
* What are your success criteria? Ensure you have a true measurement of success for the asset management service. Don’t rely on others proposing to inform you of success or failure.
* Understand your dependencies, there is a reason why organisations often swap out their asset management service or solution every couple of years, not because the solution is not fit for purpose, but in fact because the internal commitment does not meet the requirements.