A Requirements Matrix is the KEY to selecting the right software product

A simple tool like an Excel Requirements Matrix provides the following:

1. A clear statement of what are the required software features and functionality by business function/module. Each business function/module would be a separate Excel sheet on the same Excel file.
2. It provides an "easy to use" check list so that the stakeholders can verify that their requirements are complete and accurate.
3. It can serve as a sign off control document.
4. It provides a straightforward score card with which to rank the competing software vendors.
5. It provides a clear communications document with which the software vendors can easily indicate if a requirement is standard with their product or if a modification is necessary by stating the modification's estimated time & cost.
6. The format of this Excel sheet could be as follows - the page title would be the business function/module (Inventory, Purchasing) and its Columns would consist of REQ #, Req Description, STD/Custom Feature, Est. Cost(Custom), Est. Time(Custom) and Stakeholder Initials for sign off.