SelectHub Newsroom

SelectHub Business Intelligence Leaderboard Rankings Dominated By 10 Innovative BI Vendors

DENVER, COLO (PRWEB) MARCH 09, 2016 – SelectHub, a technology selection management (TSM) software company, today released their 2016 update for their Business Intelligence (BI) System Leaderboard – featuring the top BI systems rated on 20 key functional business requirements.

SelectHub NewsroomSelectHub Business Intelligence Leaderboard Rankings Dominated By 10 Innovative BI Vendors
Read More

SelectHub Joins Apptio Alliance Program to Help Shape the Future of IT

Denver, Colo., Sept. 30, 2015 – SelectHub, a cloud-based Technology Selection Management (TSM) platform for the selection, sourcing and acquisition of IT products, today announced a new partnership with Apptio, the leading provider of Technology Business Management (TBM) applications designed to help CIOs manage the business of IT. Some of the world’s most innovative organizations are using Apptio to understand the true cost, quality, and value of their applications and services. As a result, CIOs and their teams are able to make more informed decisions about IT investments.

SelectHub NewsroomSelectHub Joins Apptio Alliance Program to Help Shape the Future of IT
Read More

50 Colorado startups to watch in 2015

SelectHub is featured in Built in Colorado article as one of their recommended top colorado startups:

SelectHub helps you make smarter decisions about the software you purchase for your business. Through its wide-ranging database, it can serve in social media analysis, risk and compliance management, CRM support, warehouse management and more. Teams are able to work collaboratively on the platform, compare systems through SelectHub’s database and build consensus around purchasing decisions and vendor sources. Another bonus: SelectHub is built to reduce legal liability with its automated paper trail and management capabilites.

Read the full article here: http://www.builtincolorado.com/blog/50-colorado-startups-watch-2015

SelectHub Newsroom50 Colorado startups to watch in 2015
Read More

SelectHub Featured In IT-TNA

SelectHub and our CEO, Venkat Devraj, was featured in “Project Management: ‘What We Have Here Is A Failure To…’” in IT-TNA.

Here’s an except:

It’s the dirty little secret of IT, not just outright failures, but projects that are delayed, said Venkat Devraj, CEO of SelectHub, in a recent interview with IT Trends & Analysis. Enterprises spend over $300 billion annually on software purchases including SaaS, third-party and internally hosted solutions but failure rates for these software projects can be as high as 68%, he said. To put that into numbers, using Forrester Research data, SelectHub said of the $542 billion to be spent on software this year, $368 billion will likely be wasted.

A less alarmist – but still troubling – view from a Project Management Institute (PMI) study found that organizations risk $135 million for every billion dollars they spend on projects. Ineffective communications is driving 56% ($75 million) of these at-risk dollars.

 Read the whole thing on IT-TNA.

SelectHub NewsroomSelectHub Featured In IT-TNA
Read More

SelectHub Featured In “10 Hot Tech Startups”

CRN has selected SelectHub as one of the “10 Hot Tech Startups for July”:

SelectHub emerged from stealth mode in June and launched its SelectHub service for IT product evaluation, vendor sourcing and procurement. The value of SelectHub’s service, according to the company, is its ability to foster IT and business manager collaboration around IT purchasing decisions, reducing the amount of money businesses waste through poor IT purchasing decisions and failed IT projects.

 You can read the whole article on CRN.

SelectHub NewsroomSelectHub Featured In “10 Hot Tech Startups”
Read More

Project Management: “What We Have Here Is A Failure To…”

The races to the cloud and mobility are drastically accelerating the pace of application development, reducing it from months to weeks. Where once new and revised applications were released on a 12-18 month basis, businesses are now moving to a monthly release cycle and trying to figure out how to shorten that to a weekly timeframe. So it’s no wonder that software project failures occur, but as high as 68%?

SelectHub NewsroomProject Management: “What We Have Here Is A Failure To…”
Read More

10 Hot Tech Startups For July

by

SelectHub

SelectHub emerged from stealth mode in June and launched its SelectHub service for IT product evaluation, vendor sourcing and procurement. The value of SelectHub’s service, according to the company, is its ability to foster IT and business manager collaboration around IT purchasing decisions, reducing the amount of money businesses waste through poor IT purchasing decisions and failed IT projects.

The company cited studies showing that software projects have a failure rate as high as 68 percent and more than 10 percent of software purchases end up as unused “shelfware.”

SelectHub CEO Venkat Devraj previously founded Stratavia, a database and middleware automation technology that Hewlett-Packard acquired in August 2010. Denver-based SelectHub was founded in 2012.

http://www.crn.com/slide-shows/channel-programs/240157705/10-hot-tech-startups-for-july.htm/pgno/0/9?pgno=10

SelectHub Newsroom10 Hot Tech Startups For July
Read More

Yahoo Finance coverage of SelectHub launch

SelectHub Emerges from Stealth Mode to Curb Shadow IT

and Increase Value from Technology Investments

SelectHub Launches New Platform for Collaborative Software Evaluation, Vendor Sourcing and IT Procurement

Press Release: SelectHub – Wed, Jun 26, 2013 7:00 AM EDT DENVER–(BUSINESS WIRE)–

SelectHubTM, a new platform for visibility and collaboration across IT software investments, announced today the launch of the SelectHubTM software-as-a-service to global enterprises. As a streamlined solution for company stakeholders to collaborate and interact with vendors across all areas of software acquisition, SelectHub enables the adoption of a standardized evaluation process that will increase the value of technology investments.

Coming off a successful exit of selling IT automation software vendor Stratavia to HP in August of 2010, CEO of SelectHub, Venkat Devraj, sees solving inefficiencies in enterprise technology procurement, evaluation and vendor sourcing as his next big challenge.

Enterprises spend over $300 billion annually on software purchases including SaaS, third-party and internally hosted solutions. Yet independent studies have found failure rates for these software projects to be as high as 68 percent.

“Enterprise software has been plagued with a disproportionately steep failure rate. Much of this can be attributed to fundamental communication challenges within organizations. SelectHub focuses on increasing success rates by applying modern collaboration and project coordination techniques to the software evaluation process. CIOs, IT Finance and Procurement leaders would be well served to take a closer look,” said Shawn Rogers, Vice President at analyst firm Enterprise Management Associates.

SelectHub delivers a modern collaborative environment where both IT and non-IT constituencies can work together to evaluate, select and purchase the right software and enterprise-oriented solutions. Users can seamlessly create a project, invite stakeholders, define and combine requirements, short-list products, research solutions, message vendors, issue RFIs, compare and rate vendor responses, and manage Proof-of-Concept use cases, lab logistics, and other deliverables.

“It is becoming common for individual users or departments within companies to sign up for a new software or service and IT is the last to know. Without IT and other key stakeholders’ involvement and guidance, the already excessive software failure rates will continue to worsen while creating new problems for IT,” said Devraj. “Enterprises need a platform that makes it easy for the right stakeholders to come together and collaborate on purchasing not only the best product for their requirements, but also one that has the best chances of being successful in their environment based on relevant security and compliance standards, as well as integration with prior software investments.”

With the rapid increase in decentralized or department-level IT spend, often referred to as “shadow IT,” the launch of SelectHub comes at the perfect time.

Rajeev Ankireddypalli, Head of Information Technology at Advanced Energy Industries, Inc. (AEIS), stated, “The rise of decentralized technology spend is casting tremendous pressure on IT, Procurement and Finance groups to rapidly gain alignment amongst themselves, and with peer business units to optimize investments. SelectHub’s proposition of streamlining the technology evaluation process and keeping all of these stakeholders in lockstep throughout the entire procurement cycle is a timely one.”

 

The SelectHub platform enables a streamlined evaluation process based on industry best practices that accelerates procurement timelines, and makes IT more accessible thereby eliminating the need for buyers to cut corners or departments to have to resort to shadow purchases. SelectHub makes stakeholder participation fast and easy, and makes all communications transparent and auditable. To further accelerate solution research timelines, SelectHub’s marketplace lists popular product options across a hundred different software categories.

“SelectHub is definitely the next generation product that is going to simplify and transform the cumbersome and politically driven Procurement process in companies today,” said Ram Prabhakaran, Senior Manager, Information Technology at Level 3 Communications (LVLT).

About SelectHub

SelectHub is a new software-as-a-service offering aimed at enterprises for technology evaluation, vendor sourcing and IT procurement. It enables a streamlined and transparent technology acquisition process within the enterprise, and offers a comprehensive set of evaluation stages including preliminary research, real-time vendor communications, RFx, technical due-diligence, business case analysis and contract negotiation. Based out of Denver, CO, the company is founded by a team of successful repeat entrepreneurs and is privately funded. The product is offered free of cost to both buyers and vendors of software products, along with a subscription-based Premium service that covers technology purchases beyond software. 

SelectHub NewsroomYahoo Finance coverage of SelectHub launch
Read More

Service aims to take the pain from IT buying

Posted by Howard Solomon on www.itworldcanada.com

 

It’s a common cry in organizations from people frustrated with application shortcomings: “Who bought this *X!!&!Z!?”

Actually, your colleagues probably did.

They sat on a committee, evaluated the software/hardware/cloud service – perhaps with the guidance of a consultant — and gave it the green light.

The result is something that too often doesn’t do what users want.

It doesn’t have to be that way, says Venkat Devraj, CEO of the newly-launched SelectHub subscription cloud service for IT procurement.

SelectHub, which had been in stealth mode until Wednesday, offers a five-step process for groups of employees to use to hone down their software needs.

In effect it’s a collaboration site, says Devraj, (pictured above) who believes that’s the root of many procurement problems.

 

An entrepreneur who has started and sold two startups — including a data centre automation solution called Stratavia to Hewlett-Packard Co. in 2010 – Devraj said he saw the need for something when noticed a disturbing trend while selling his products:

“No matter which product companies bought, the failure rate tended to be pretty high – seven out of 10 projects would end up having a delivery delay or functionality reduction or end up being shelfware.”

Blaming the vendor or the consultant would be easy, but looking into the matter, he believes the problem is – to swipe a phrase from a famous move – failure to communicate.

In other words, even though many voices may be heard during the procurement process, somehow some important things don’t get heard.

This may be for two reasons, Devraj said: Increasingly staff are buying applications or signing up for cloud services without IT knowing, and, despite talking, email and spreadsheets, people on the procurement committee weren’t listening to each other.

SelectHub guides people through evaluating software by following a template which includes room for team members to leave comments.

After creating a project people can set application requirements, a budget (in U.S. dollars) and an ROI, add attachments, compare products. There will be a section of reviews from what the company calls a community of verified buyers. Ultimately, Devraj says, the process will let participants create a shortlist of products to evaluate.

At least one other similar service exits, called Xpeerient, which says it matches project requirements to people willing to share their experiences looking for similar products.

Duncan Jones, a Forrester Research analyst who specializes in product sourcing, agreed in an interview that most corporate procurement processes are “flawed if not broken. There’s too much emotion in it, a reliance on long requirements catalogues of things that people think they need and then trying to find a product that fits the model they’ve got in their head – which may be completely wrong.”

Organizations often look for a specific solution rather than a software company that can best solve their problem, he said. Sometimes, he added, they don’t even comparison shop, but buy a solution from a vendor just because it is already a customer.

“Enterprises don’t know what they want when they’re looking for software products, so its no surprise so many end up picking the wrong one.”

SelectHub “will appeal to some enterprises,” he said, because it encourages collaboration to identify what are the real needs of the organization. This will help get away from consultants who create a list of requirements that doesn’t identify key differentiators in products.

But, he adds, it doesn’t resolve the problem of staff not making strategic choices in procurement – for example, being open to choosing a new supplier so the organization isn’t dependent on one or two vendors, or letting certain business units pick their own solution.

The benefit of the latter is it may avoid staff selecting a compromise solution that ends up solving no one’s needs.

SelectHub will add more capabilities soon, including the ability to list RFP’s and customer references.

It can be subscribed to based on the number of projects an organization expects to start in a month: Silver for US$2,500 a month for one project; Gold at US$4,500 for up to three projects and Platinum at $8,500 for up to five projects a month. There’s a discount for committing to an annual contract.


Read more: http://www.itworldcanada.com/article/service-aims-to-take-the-pain-from-it-buying/47973#ixzz3cmaLVH00 
or visit http://www.itworldcanada.com for more Canadian IT News 

SelectHub NewsroomService aims to take the pain from IT buying
Read More