Undertaking a market scan to identify suitable providers for a software development project

The client’s challenge was to maintain an in-house software platform while planning for a major project that would incorporate the functionality of the current solution.

Chatham Square was engaged through an industry partner to undertake a time-limited industry market scan to identify potential providers, focusing on the capacity of local industry to develop, manage, and support the in-house solution.

Our approach involved a market analysis to identify potential providers and to determine an initial shortlist; after which a questionnaire was sent to each shortlisted company, with all recipients contacted prior to its release. Once the questionnaire results were received, there was further analysis against key criteria. And as necessary, a follow-up interview was conducted to clarify any of the responses.

The market scan initially identified over three hundred companies from which the final post questionnaire shortlist was reduced to eleven providers. Our analysis indicated that these companies would be suitable industry providers to deliver the interim solution. As a result of this work the client will finalise a business case to progress this project for market solicitation.

We were pleased to receive positive client feedback: ‘They quickly understood the scope of the task, provided a thorough plan to deliver against the milestones, and developed the trust…based on the quality of their reporting…providing work of a very high standard that enabled us to make informed decisions.’

Some of the key aspects to the successful outcome of this task were:

• With limited time available keep your stakeholder engagement focused.
• Develop a questionnaire that allows the recipient to readily respond.
• Apply incremental effort to meet short term requirements.
• Use industry and technical knowledge for efficient analysis.
• Determine the most appropriate report structure and format with client buy-in.

Do you need support in market intelligence and solicitation activities? Contact us to discuss how we can work with your team to support you to develop the best outcome for your organisation.