SelectHub said it has announced a new relationship with PBF Energy, one of the largest independent refiners and suppliers of petroleum products.
SelectHub´s platform allows company stakeholders to collaborate internally and interact with vendors across all phases of IT requirements gathering, vendor selection and acquisition. The platform enables the adoption of a standardized evaluation process that increases stakeholder participation and success rates of technology investments.
“New technologies are moving the world of business forward at rates that are faster than ever. For IT departments, it´s even more important to deliver new products and services that are as dependable as they are innovative,” said Richard Loew, Chief Information Officer at PBF Energy.
The “open secret” in the IT industry is that billions of dollars are wasted each year due to ineffective technology selection and archaic purchasing practices. A recent report by the Standish Group reviews major software project success rates over a 10-year period citing successful software implementation rates to be a mere six percent, whereas 52 percent are deemed to be challenged with time and/or cost overruns, and 42 percent are considered outright failures.
SelectHub is a cloud-based “technology selection management” platform that streamlines the IT procurement process across organizations, and offers a comprehensive set of evaluation stages all the way from requirements gathering to vendor shortlisting, demos, RFI/RFP and contract negotiation.