Share this page. As part of the decision-making process to buy or to build, consider each of these factors carefully Most organizations with the mission of serving participants of a benefit plan or membership group are typically not in the software development business. At a minimum, organizations should compare the following items when considering their options: Availability of technical staff and subject matter expertise normally a key differentiator, as building requires more time and specialized skill The degree in which requirements are unique in comparison to what is available in the marketplace Likelihood of achieving target business process improvements Customer experience vision and capabilities Long-term support risk factors related to staffing, tools, and software Viability and longevity of the products available and solution vendors Speed to implementation need Data analytics capabilities Integration capabilities with other enterprise software Budget and cost — both long and short term Cyber security considerations and risks with each option Solution flexibility and agility to support changing rules The analyses of the prior list will help guide the decision, but there are unique attributes your organization needs to consider.
Build vs. Here are some examples: Advantages of building Need for customization and differentiation in the marketplace: One of the biggest advantages of building a custom software solution is that it will meet all of your functional and operational needs.
The software will be developed to your unique business model and goals. The business has total control over the developed solution, the features, and the flexibility to adapt when needed. Often, this starts as an agile project prototype and is grown into the desired system through ongoing enhancements in accordance with business priorities and cost commitments. Through the development process, staff will be able to provide input and feedback regarding the features and functionality that are of the highest priorities.
Span of control: Through the build option, the organization can be the sole owner of the developed software and therefore has full control over the options, security measures, system updates and workflow decisions.
Integration across your other technology platforms: By choosing the build option, organizations can leverage technologies that already fit within their other enterprise software. This typically leads to a seamless integration with other tools and back-end systems, and leverages knowledge already in your organization.
Disadvantages of building Longer project duration: It typically takes more time to build software from scratch versus buying a COTS product. The organization will need to define its workflow, develop iterations of the software, and continue to optimize them to meet all of the business requirements. The organization will need to make a significant investment in staff time to get the end product to the point where it meets their goals.
Often time the long-term vision for the software must be deferred in order to just get a base solution in place. The more time that passes, the more likely the requirements and vision will change leading to a software project that is never truly completed.
Larger initial investment costs: Customizing a framework, or building an application from scratch requires a greater financial investment than buying a COTS solution. COTS vendors have the advantage of scaling costs across many customers and therefore are able to provide a final product at a much lower cost than building from scratch. Advantages of buying Speed to market: One of the primary reasons organizations choose to buy COTS products is that they already exist and can be deployed much more quickly.
If an existing COTS product meets most of the business needs, then there is little point taking on the risks, costs, and time to develop a customized software when it can already be purchased in the vendor marketplace. Typically less initial cost: When costs are a significant factor and there are limited resources to develop software, then the COTS purchased option is usually the best choice. There are typically lower up-front costs to buy a product than to build one from scratch.
Ongoing updates, maintenance, and new features: In order to stay relevant, COTS vendors must maintain a competitive and up-to-date product. To serve their broad customer base and to be compliant with their software agreements, COTS vendors need to deploy maintenance, enhancements, and support patches quickly. While there are typically long-term costs associated with this ongoing support, transferring that risk and effort to a third party is often a significant advantage for organizations. Subscribe Now.
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