Falkirk will begin draw up a shortlist of managerial candidates in the middle of next week.
Club chairman Martin Ritchie says time is on their side and within 24 hours of an advert being placed on the club website, more than 30 credible candidates had come forward to register an interest.
He refused to deny midweek reports of interest linking David Weir and Russell Latapy and insisted no names had been discussed by the board.
“What we have discussed,” he told The Falkirk Herald, “are the characteristics that we are seeking in our next manager and the specifications of the candidate.
“That is more important than the names. We will take our time with the appointment because it is an important one.
“Alex Smith and Stevie Crawford are aware of this and are happy to continue with this plan.”
Many of those specifications though are believed to be fulfilled by the former Bairns defender and Rangers captain who has emerged as a leading candidate – but the club has other options for consideration.
Although the chairman would not discuss names, Colin Cameron has been mentioned by sources within the club and St Johnstone defender Callum Davidson’s name has also been suggested for the vacancy.
Once the application process is complete Martin Ritchie says the club will narrow their shortlist down to “four or five candidates” next week and progress from there.
“No-one has been pencilled in, nor rubbed out,” he added.
The careful consideration to appoint Steven Pressley’s successor has been welcomed by the Falkirk Supporters’ Society.
Following a meeting on Monday an FSS spokesperson said the Society is “pleased the club is taking time to consider all the options, but we would hope someone would be in place before the end of the season in order for a full assessment of the playing squad, and its’ needs, to be made.
“We are pleased it is an open process and the position has been advertised widely.”