Steve Young recently penned a piece on GTNews discussing common pitfalls of system selection and implementation and how asset managers can revise their search and selection process to find the best technology to suit their unique needs. A big problem, Steve notes, is a tendency to follow a routine selection model (including RFPs, POCs, and demos) that doesn't give firms a complete picture of what they're buying, causing issues down the road with delays and extra costs during implementation.
"Asset managers must never lose sight of the fact that they want to procure the most appropriate solution and not buy from the firm with the best sales process. Asset managers can learn much about vendors by taking them beyond their comfort zone and not following their rules of engagement."
For Steve's insight on how firms can follow a more evolved, dynamic approach to system selection, read the full article.
