When our client prioritizes requirements, they are assigned weights, e.g., "Show stopper" or "Important.” ("Useful" and "No interest" requirements do not appear on the RFP.) Each weight has a numerical value behind it.

When you rate a product against a requirement, e.g. "Fully meets" that rating also has a numerical value behind it. Your product's score for that requirement is calculated by multiplying the weight by the rating.

Requirements are organized hierarchically, and scores roll up the hierarchy to the top, where they are expressed as a percentage:

Score = (Score) / (Max possible score) * 100%

Types of scores

Wayferry uses two types of software product scores:

• Actual score is the score your product gets when considering all requirements on the RFP.
• The fit score is the same as the actual score, except that unrated requirements are excluded.

The fit score approximates the actual score if all requirements were rated. The higher the percentage of requirements rated, the more accurate the fit score becomes. When ALL requirements have been rated, the fit score and the actual score are numerically equal.

Example

An evaluation has 10 requirements, and the first requirement is fully met. The actual score is 10%, while the fit score is 100%.

If 6 requirements are rated as "Fully meets", the actual score will be 60%, while the fit score will be 100%.

If all 10 requirements are rated as "Fully meets", the actual score will be 100% and the fit score will be 100%.

Requirement weights

Foundational. Wayferry has identified software functions that are so universally expected by both customers and satisfied by products that the necessity of their inclusion in a solution is regarded as a given. Wayferry refers to such requirements as “Foundational.”

Showstopper. If this requirement is not adequately satisfied, there will be a noticeable and material impact on business operations, e.g. certain customer or regulatory expectations may not be met, closing financial periods may take longer than now, certain reports may not be able to be generated or have the desired accuracy, etc. Extra headcount will be needed to work around the limitation.

Pain point. This is functionality missing in the client's current system that needs painful workarounds.

The weights below will not appear on the Demo RFP or the Demo Script, but only on the Full RFP.

• Important. Without this requirement being adequately satisfied, there is a noticeable inconvenience but that can be worked around with some effort, e.g. data can be exported and manipulated in Excel.
• Future need. This requirement does not need to be satisfied as part of the initial implementation, however, it is at least important and is expected to be needed in the next 1 - 3 years.

Product ratings

Fully meets. This functional requirement is adequately met "out of the box" with no compromise. When implementing the software, no time needs to be spent on configuration. Also used for non-functional requirements that are fully met, e.g. contract requirements.

Fully meets (system config). The system fully meets this requirement after being configured. System integrators will need to spend time configuring this functionality during implementation.

Fully meets (user config). To get maximum value, users will need to configure this to their needs before using it. User training may be required.

Mostly meets. The software meets this requirement with minimal compromise. Deficiencies can be worked around with little effort.

Partly meets. The software meets this requirement with noticeable compromise. Deficiencies can be worked around with some effort.