Build vs. Buy: Why Companies Should Buy Their Next Software Solution

Listen to this episode on Anchor FM

Is the prospect of software for your business overwhelming? In this episode of the DATAcated on Air podcast, host Kate Strachnyi talks with experts about the build versus buy decision when it comes to software. This panel consists of Ashley Kramer, Chief Product and Marketing Officer at Sisense, Marvin Mayorga, Practice Partner at Data Meaning, and Hector Vasquez, VP of Solutions at Data Meaning. Listen to find out which solution might work best for you and why.

You will want to hear this episode if you are interested in...

  • Sisense and Data Meaning working together [05:34]
  • When should a company look into software? [08:29]
  • Influencers in this decision [16:32]
  • Making the right decision early [22:48]
  • Outdated systems and maintenance [34:17]
  • Finding the right partner [40:39]

Sisense and Data Meaning

Sisense is an 800 person company that prides itself on partnering with its customers through the initial buying phase. The company partners with other companies that are resellers and implementers, like Data Meaning, to come together and help make customers successful. Sisense builds the software and Data Meaning implements it.

Data Meaning’s responsibility is to help its customers be more successful with their enterprise data strategies. That means that success could come from any technology. As an industry leader positioned to support its customers, the company’s role is to constantly look at technologies in the market that will help accomplish that goal. That research led to the relationship between Sisense and Data Meaning.

Motivators for a change in technology

Most commonly, a company would start to consider software when it wants to gain a competitive advantage and get ahead of other companies. Some companies, unfortunately, are behind others and trying to catch up. Another reason companies look into software is to drive more engagement. Often, a company uses analytics to either drive the experience or deliver data to customers or employees to make smarter decisions. The final reason is being seen more and more. Often software is a way to create a new revenue stream.

Another situation seen is when an organization has difficulties keeping up with the rate of change. At first, it decides to go with a build option. The number of enhancements and requests coming from the customers makes them realize that what they have is not enough. That’s when they start considering a solution that can keep up with the sophistication and changes users are demanding. Often these customers have said they would build things themselves, but later they realize they need help from experts.

Influencing software decisions

The decision usually sits high in the organization. However, there are many people who can influence that decision. People with a technology background will try to advise concerning the implications of one decision versus another. Owners are concerned about costs and trying to get to market as quickly as possible while also trying to stay up to date with what the market is offering. Finally, there are the people from the finance department who are also trying to provide insight as to what the projections are for the coming years. Also, they’re concerned about how much money can be put into one decision or the other.

A recommendation is easy to make, and many companies realize that. Sadly, some organizations need to experience growing pains to recognize the value of that recommendation. Typically, those organizations will already have invested significant finances before realizing they should have bought the software. Companies often don’t consider the total cost of maintenance. Thinking in the long-term, a company has to learn how many times a buy solution will give it the best value for its money.

Resources & People Mentioned

Connect with Ashley Kramer

Connect with Marvin Mayorga

Connect with Hector Vasquez

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