Who we work with

We work with firms that provide financing for mid-market companies.

When you can use us

When you suspect a company you have invested in needs new ERP software:

  • A litmus test for new ERP is a company awash with spreadsheets, which means slow and inefficient manual processes that are a source of human errors. These all eat away the EBITDA.

  • A company you have invested in has accumulated multiple ERP systems, and their strategy includes growth through acquisition. Rationalizing to one ERP system allows centralized finance, better purchasing discounts to be negotiated, and reduces IT costs and risks with new acquisitions.

Investor benefits

A private equity CEO told us how he was involved in 15 ERP implementations and, in his opinion, all had failed. He went on to say that nobody ever admits the problem. Unfortunately, the norm is that new ERP systems cost significantly more than expected and seldom deliver the hoped-for improvements.

  • You invest in successful companies that outgrow their existing software. We help them navigate ERP selection to reduce the risks and deliver business success.

  • A company that has software meeting their REAL business needs will grow faster and reduce your investment risks.

How we do it

Wayferry focuses exclusively on driving risk out of enterprise software purchases and does not sell, implement, or support software. Our clients pay us, and we do not accept any payments from vendors when the software is purchased. We are truly independent and able to find the best ERP for the companies in which you have invested. We use a 4 stage process:

  • Stage 1: Business alignment

    • The company’s business vision drives the selection and alignment of their goals. It is the achievement of those business goals that will generate value.

    • The strategy is how the company will achieve its goals and is described in terms of business requirements.

    • The business requirements represent WHAT must be done to achieve the goals, and a large subset of these are related to the software. (Software requirements represent HOW the software will meet the business requirements and are not needed since the software is being bought and not built.)

  • Stage 2: Software evaluation & selection

    • We use our proprietary Wayferry Navigator, which has a library of thousands of pre-written requirements.

    • The Navigator handles the RFPs, automatically analyzes and expresses RFP responses as a Fit Score that objectively measures how well potential ERP products meet the company’s particular requirements.

    • We manage the demos, check references, and verify the vendors are not misrepresenting their software in the RFP.

  • Stage 3: Software purchase

    • Check references and verify RFP does not misrepresent software.

    • Develop implementation SOW (Statement of Work).

    • Negotiate contracts.

  • Stage 4: Implementation success management service

    • We transfer the information collected in the first two stages of the project to the implementation team and manage them to stay on schedule.

    • We conclude with user acceptance tests that the system must pass before the customer goes live with the new software.

Costs

Most ERP implementations take longer than planned and cost more than budgeted. Overruns of 50% are common, and occasionally they take twice as long as expected. See The 5 costs of poor software purchasing.

Wayferry’s process reduces risks and results in ERP implementations that stay much closer to the plan. For example, if a company budgeted $1 million for implementing ERP, and it was completed on schedule instead of overrunning by 50%, that cost-saving would be substantially more than Wayferry’s fees. Our fees are both hourly and fixed price, depending on the project stage.

Contact Wayferry

If you suspect companies that you have invested in would benefit from a new ERP system, click the [Contact Wayferry] button below. Our approach is to educate first, and client projects naturally flow from this where there is a real need.