Similar to the investment world, where a portfolio is carefully designed to balance risk and return, so too should we be blending the optimum balance in our technology strategies.
Build vs. Buy
Deciding whether to build your own bespoke technology, or licensing and installing something that already exists goes beyond the comparisons of total cost of ownership.
There are strategic questions to be asked of IP ownership and control, competitive differentiation and the longer-term effects on an enterprise architecture.
When you're buying
You’re ready to adopt something that exists, either because it’s cheaper or because it can solve the problem faster. You’re not reinventing the way something has always worked, and are comfortable to change your business processes to suit the product.
When you're building
You have original ideas for the technology that runs your business, or through which your customers interface with you. You’re forging new ground, can’t or won’t change your processes and need a solution built around your needs. You are prepared to spend the time and resources to build and own a bespoke software asset.
At the ‘core’ of the strategy are assets that are cost-effective, proven, robust and widely used. This is usually where you need dependable and functional packaged software as the building blocks of your architecture.
At the ‘satellites’, you need your own ideas and agency, custom solutions which allow for innovation and differentiation. These are unique and memorable experiences which offer greater impact and reward.
Discover more practices that impact technology project success
Sharing Entelect’s experience in industry, these are our own lessons for the major factors which influence project success through the lenses of user adoption, time and budget.