Student Accomodation Management Software

Things to consider when selecting a Student Accommodation Platform

T CAS Online provides a cloud based hosted platform for the management of student accommodation facilities.

A topic which is widely discussed amongst student accommodation providers is how to select a student accommodation management platform.

It is in the context that I would Like to share with you some of our experiences when it comes to the things you need to consider when you are selecting a new accommodation management software platform for your organisation.

Let's define what we mean by a Student Accommodation Management Platform.

There are number of ways in which we can define this but to start with, we define a Student Accommodation Management Platform:

A software solution provided by a 3rd party software provider which supports the business of managing all aspects of your Student Accommodation Portfolio.

It is important to realise that whatever "off the shelf" package you choose, It may not be a perfect Fit - (Industry standard usually demonstrate that a good 010 Fit is somewhere between 8QO/o - 850/o)

In selecting a package product, there may still be a compelling requirement to change I alter your business processes.

As part of implementing any new system, your organisation may experience a "negative" effect on your business as the system get "bedded in" in the short term but ultimately your implementation should bring measurable and scalable benefits in the mid to Long term.

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Before getting immersed in a system selection project, there are a few fundamentals which need to be addressed.

There has to be a Business Need - Articulate the problem and the need. Write it down from the business perspective. Make sure that the problem that you perceive to exist actually does exist for the business.

Requirements - You should define what you are Looking for from a new software platform.

Build your Budget - How much will this cost and how much can you spend. Don't forget about other related costs - training, hardware, hosting and other recurring costs?

Vendor Selection - profile and experience is important - Identify if they have experience of similar projects and have they done this before. Decide on how many you will approach?

Referral process - Meet some people. Find out who the Leaders are in this area? Research on the web?

Project Implementation - What are the things you need to consider when you are implementing a project -Staffing, timescale, skills needed?

Another key aspect relates to the technology. Invariably, you need to consider what software characteristics are important for you and your organisation ....

In today's world, you will hear terms such as "Cloud Based", "Hosted Services", "Scalable Enterprise Solutions" etc .... Do you understand what these mean and do you need to make sure that whatever solution you do select meets the necessary characteristics that you require.

For example, if you have no in house IT expertise, then it might make a Lot of sense to outsource the hosting and delivery of your operational platform to a 3rd party which may or may not be the software vendor!

Other aspects you might need to consider are what additional modules are available? What is the roadmap for this product for the Future? Are there features which might be scheduled for delivery in Future releases. What is the Future release strategy for the platform? What type of vendor do I want? Are they proactive, helpful and genuinely want to work in partnership with you.

It is also important to understand the recurring and annual costs that you might be committing to ... On the face of it, License costs may Look Like good value but on going or recurring costs could be prohibitively expensive so it is important to check this aspect out.

As with all purchases of this nature, you should set out the benefits you expect to achieve from selecting and implementing a new student accommodation platform in advance ...

The typical benefits that you should expect to achieve by selecting and implementing a Student Accommodation Management Platform would be, A Reduction in Operational Costs or An Increase in Operational Efficiencies.

The opportunity to bring in new process improvements into the business. For example: elnduction, Online Contracts, Online Payments etc.

Competitive advantages from technology enabled features .... CRM capability for example.

By keeping everything in one place and in one centralised database, the opportunity to report on business performance is much easier .

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There are probably many more that can be identified and it is worthwhile bringing your project team together at this point to consider and identify any other benefits which may be achieved to help you build your business case.

In our experience, many other "unexpected benefits" can accrue from selecting and implementing a new accommodation management platform ....

Your organisation may benefit from new ideas which your software vendor may have devised from working with many different customers in your sector. In many cases your software vendor may be able to provide advice and guidance based on standard industry practice for example ...

Opportunities to diversity you 're offering and to diversify in to other business areas may present themselves which heretofore was not possible.

It may also allow you to form new revenue generating partnerships which are now enabled through the use of your new software platform and technology integration capability.

Finally, safety in numbers - knowing that you are not the only one using the platform gives you a better sense of security in terms of product roadmap development and ongoing support. You may also have a forum for influencing the direction of the product in future releases through Product User Groups.

As mentioned previously, before embarking on a "off the shelf" package solution for your Accommodation Management Platform, it is probably a sensible idea to consider the pros and cons of Bespoke approach V off the Shelf.

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The most common methods for software evaluation and selection

• Tenders ( Online or Offline ) • Pilot Evaluation • Referral

• Partnership • Hire in expertise to assist

Legislation can sometimes dictate on how you progress your software selection project particularly if you are in the Public Sector. These usually follow a predefined format and have rigid rules and guidelines that must be followed by the customer and vendor.

Private tenders can be more flexible and tend to be more commercially focussed in terms of the financials and functionality required. We usually find that decisions on these types of tenders also tend to be made more quickly.

Other methods include a pilot "Proof of Concept" implementation or a referral from another customer who is in the same or similar business and has had a successful implementation. Increasingly common, customers & suppliers are now forming partnerships which enable specific product development at a reduced cost for the customer. In this way, the customer gets access to the functionality first and the vendor is enabled to develop their product at a different pace.

Throughout this process, it is sometimes very useful to bring in a 3rd party external consultant who is expert in the area of software package selection. They can assist with the preparation of the tender document, help with the vendor selection and even help with the project implementation.

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At the end of your software selection project, you would expect to have "ticked the box" in relation to most of the items below.

You should have a software License agreement in place. This outlines the terms and agreement between both parties.

You may also have put an Escrow Agreement in place .... This is an Optional agreement to put the source code of the system into escrow to alleviate concerns of the vendor going out of business.

You should also have a Support Agreement that specifies an agreed Service Level.

Commercial- Agree all pricing in advance. Specify a payment schedule if applicable and base it on key milestones Once you have selected a system and Legal and commercials have been agreed, a Project initiation meeting should be scheduled ....

The most important aspect of this is to put a project team in place, Depending on the size of the project, this may be a full time job for one or more people or consist of one person who will Liaise with the vendor project team. Get a List of the project members who will be involved. You may want to meet the vendor project team in advance of agreeing or signing contracts. Your team may consist of the following: Project Manager, Business Expert and an IT Representative.

Make sure everyone in your organisation knows what is happening, when it is to happen and the role they have to play to ensure success.

Every organisation makes mistakes when implementing new technology so it can sometimes help if you can identify some of the more common mistakes that happen in a typical project.

Never assume you will do things exactly the way you are currently doing them and secondly, things will not go smoothly all of the time - there will always be some unexpected situation I events which cause some problems

Make sure you have a fall back plan if things go badly wrong - i.e. parallel running, revert to paper etc.

In summary, if you are going to select a new Student Accommodation Management platform, ideally you need to:

1. Identify the business need

2. Define and document your requirements

3. Take the opportunity to undertake a business process review

4. Construct an internal project team made up of the different representatives of the business

5. Decide on the best selection approach that suits your organisation

6. Build and agree your budget

7. Appoint a "preferred supplier" and work with them to scope and define the project

8. Allow enough time and resource for UAT and Training

9. Have a fall-back position if things are not going to plan

TCAS Online hopes this publication was useful. Please feel free to contact us if you would Like any further information.

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