Evaluation of software development suppliers in banking sector using neutrosophic fuzzy EDAS

Payment is an important part of people’s daily lives, and although both online and offline transactions made by credit cards increase every day with the growing interest in e-commerce, 85–90% of worldwide payment transactions are still made by cash. However, the banks, giant payment institutions like Visa and MasterCard, and Payment Service Provider companies aim to increase the number of card transactions and enhance their platforms by supporting a wide range of channels with digital solutions, enhancing the security and providing value-added services. Having the user-friendly and secure payment platforms, and easy and quick integration opportunities with the merchants are quite critical for the banks; which shift them to outsource Virtual Point of Sale platform and focus on their core business. In this article, the vendor selection process of a bank is researched and Evaluation based on Distance to Average Solution (EDAS) method is used for vendor selection.

Fuzzy-AHP MOORA approach for vendor selection applications

Vendor selection is a critical activity in order to support the achievement of company success and competitiveness. Significantly, the company has some specific standards in the selection. Therefore, an evaluation is needed to see which vendors match the company's criteria. The purpose of this study is to evaluate and select the proposed vendor in a web-based decision support system (DSS) by using the fuzzy-AHP MOORA approach. The fuzzy-AHP method is used to determine the importance level of the criteria, while the MOORA method is used for alternative ranking. The results showed that vendor 4 has the highest score than other alternatives with a value of 0.2536. Sensitivity analysis showed that the proposed DSS fuzzy-AHP MOORA concept was already solid and suitable for this problem, with a low rate of change.

Composite Techniques of Structural Equation Modeling and Analytic Hierarchy Process for Information Technology Vendor Selection

This paper had developed an effective information technology (IT) vendor selection model for banking & financial services industries (BFSI). For any business, profitability and growth depends on the right vendor selection in their purchase process. This paper identifies ten most influencing and important criteria with 43 sub-criteria to comprehend the vendor selection process. Furthermore, the authors developed a vendor selection score model using Structural Equation Modelling (SEM) and Analytic Hierarchy Process (AHP). This article intends to inform practice and conclude with practical recommendations to BFSI for vendor selection. The proposed composite technique identified the most eligible vendor to meet up with the buyer’s strategies. This article suggests the most desirable vendor for the required benefit. Vendor 1 (Silverlake) with a score of 44% promised to be the most recommended one that also performed consistently in the sensitivity test.

RPA Vendor Evaluation and Selection using AHP and Kano Model

Robotic Process Automation (RPA) as a technology has gained momentum due to the onset of Industry 4.0. RPA is considered to be the simplest forms of automation in which, typically, the human actions are mimicked without taking into account the complex judgements associated with it. Hence, RPA is deemed fit for the rule-based tasks which are highly repetitive, bulky and are error-prone. Traditionally, organizations looking to increase its operations efficiency improve workforce utilisation, turn to RPA. With the shift in working pattern enforced by COVID-19, RPA adoption is no more a luxury, but a necessity. In a short span of time, the number of RPA vendors, that is the developers and providers of RPA software have significantly increased and due to current demands of RPA, it is expected to grow further. This increase in choices makes the vendor selection part of any RPA Implementation Project highly complex and confusing. Keeping in mind the significance of the vendor selection process, various methods of RPA Vendor Selection have been previously proposed but it is still evolving along with the changing needs of the Businesses. This Research paper aims to propose a standard model using Kano Model and Analytic Hierarch Process (AHP) such that it can be customized during each new RPA implementation project without compromising on the basic structure and method for evaluation.