System evaluation and selection

Richmond Consulting Group helps asset finance companies select, implement and upgrade their leasing systems.

We provide hands-on business expertise across the full implementation spectrum, including:

System evaluation and selection services

The choice of the right software platform to run an asset finance business will have a long-lasting impact and is a key factor for success. Richmond has extensive experience of helping clients evaluate and select the best software fit for them through:

  • Thoroughly incorporating perspectives from all involved stakeholders
  • Following RFI, RFP processes that software suppliers can understand and respond to
  • Independent, objective evaluation processes

To make the process more efficient Richmond provides RFI and RFP templates pre-populated with asset finance standard requirements.

The Richmond approach to systems evaluation and selection

System requirements

  • Plan
  • Mobilise teams
  • Hold workshop sessions by functional area
  • Agree weightings
  • Collate signed off requirements



Requests for information

  • Research suppliers
  • Send RFIs
  • Collate replies
  • Calculate weighted scores
  • Create supplier shortlist



Invitation to tender

  • Send ITT requests to selected suppliers
  • Collate replies
  • Hold supplier demonstrations, validating ITT responses & updating scores
  • Hold reference site visits & update scores
  • Final quotes for systems provision and any customisations costs
  • Select supplier

Requirements documentation

  • Functional requirements
  • Non-functional requirements
  • Rankings and weightings
    • Need (Essential/Opportunity/Market standard)
    • Priority (High/Medium/Low)
    • Core/None core (Determined by cross-department rankings)
    • Weighting - as required (to be used to give a weighted supplier score)

Request for Information documentation

  • Supplier responses
    For each requirement, suppliers are requested to indicate one of:

    • Core functionality
    • Configuration item
    • Gap - but workaround
    • Gap - needs customisation
    • Cannot meet requirement
  • Scored supplier responses

Invitation to tender (ITT) documentation

  • High level requirements document with updated, scored supplier responses
  • Configuration requirements
  • Gap closing customisations
  • Site visit reports

Working with Richmond

Asset finance expertise

Serving our clients for over 20 years

Global reach - local execution

Delivering projects in Europe, the Americas & Asia

Practical and pragmatic

Experienced, knowledgeable, safe