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Understanding the Role of POCs and POVs in BPM

Discover the essential elements of effective POCs and POVs in the buying cycle with insights from experts Roland Woldt and J-M Erlendson, ensuring a productive collaboration between buyers and sellers.

A new podcast episode of What’s Your Baseline was published on May 09, 2022:

Overview:

Understanding the significance of Proof of Concept (POC) and Proof of Value (POV) in the buying process is essential for buyers and sellers. This episode delves into their definitions, structures, and best practices to effectively navigate POCs and POVs without wasting resources.

Core content:

  • POCs focus on verifying technical functionality while POVs assess the value derived from the product.
  • Success criteria and objectives must be clearly defined at the outset to ensure mutual investment from both parties.
  • A structured timeline and responsibilities are critical for effective management of a POC or POV.
  • Regular communication with stakeholders throughout the process is vital for successful completion and evaluation.
  • Vendors should simplify pricing structures and make it easy for clients to understand their offerings.

Learnings:

  • Establishing clear objectives upfront can significantly enhance the POC/POV process and outcomes.
  • Engagement strategies involve segmenting stakeholders to deliver tailored messages at each stage of the evaluation.
  • A knowledge repository for POC/POV artifacts can improve access to important documentation and best practices.
  • Time boxing POCs/POVs ensures that resources are allocated efficiently and both parties remain committed.
  • Understanding the importance of partnership in the POC/POV process enhances collaboration and the likelihood of success.

The original content was published in English.

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