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2019 Buyer's Guide to Accounting and Financial So ware 9 Create an RFI/RFP. With requirements established, now's the time to list your needs, expectations, and parameters on a Request for Proposal (RFP) form that you can send to a short list of vendors. Using the same form for all vendors will allow you to make an apples-to-apples comparison of solutions. Research your options. Go online to develop a short list, si through competing offerings, and comb through independent research and reviews. You can consult social networks like Linkedln and Twi er to connect with people that are already using the products you are evaluating. For real-world reviews by actual users, check out Proformative, TrustRadius, and the Salesforce�com AppExchange� Demo or trial from short list. There's no substitute for careful evaluation of the user experience. But also be sure to see how things work at the administrative level as well. Focus on product fit. Don't overlook the basic truth: Regardless of deployment model, there's still no substitute for functional excellence. You need a financial system that offers the comprehensive, up-to-date features that modern organizations require. For instance, many companies find that multiple entity consolidation and project-based accounting are as essential as real-time reporting, process customization, automated approvals, and integration with other so ware products. Check references, score, and select. Be sure you carefully screen vendor references. Make certain that vendors provide access to happy and successful customers, but don't overlook online forums like the Salesforce�com AppExchange, where you can access unscreened, unfiltered feedback about vendor performance� Ve ing Cloud Vendors What to Look for in a Cloud So ware Provider When you move finance to the cloud, your vendor—not your IT department—will operate the financial system for you. This fundamental difference should have a major impact on your evaluation process. It's not like the old days when you licensed so ware from the vendor, and then were on your own. In the cloud computing world, the vendor has to form a long-term partnership with you and continue to earn your business every month. So you need to ensure your vendor can do a be er job at running your system than you can—and that it will keep up the good work, month a er month. 7 A ributes to Look for in a Cloud Vendor 1. Implementation success. The ideal cloud financials solution is designed from the ground up as a cloud application and is backed by a vendor and partners with extensive experience. Make sure your vendor can point to a proven track record of successful implementations� Regardless of deployment model, there's still no substitute for functional excellence. For real-world reviews by actual users, check out Proformative, TrustRadius, and the Salesforce.com AppExchange.