Post by account_disabled on Nov 30, 2023 5:07:11 GMT
Unnathi Rayaprolu Unnathi RayaproluLast Updated: Wednesday, April 7, 2021 3 minutes read The question whether to build or buy software is a long on-going debate between experts with various opinions on the internet. The option to build your own in-house software or buy market ready customized solution still keeps a lot of decision makers confused.
With the SaaS market booming to its full glory where the market size is projected to reach USD 307.3 billion by 2026, it is making it easier for brands to subscribe to services without a need to maintain hardware or other resources.Before we dive straight into the debate of build vs buy, let us explore how customer behaviour and purchase paths have gone through a revolution as well.
The digital revolution has armed customers with smartphones, tablets and users today are demanding and expecting service, thereby shaping the product offerings they consume. Gone are the days of brands Buy Bulk SMS Service dictating and influencing customer expectations. While option-fatigue and the tyranny of choices have affected the decision making process, price comparison engines, coupled with voices of Key Opinion Leaders (KOLs) and influencers, are helping users make informed purchases.
Track record of the development team: Measure your development team’s skills and maturity in terms of competence, agility, and ability to deliver. If they measure up to a good level, then building software in-house makes more sense as compared to buying a market-ready solution.
Resources available at your disposal: Budget is a big deciding factor when it comes to buy vs build debate. Higher the spend limit exercised by brands, it gives building the software more favour. For companies that have a limited budget, buying a solution is an easy way to tackle this.
Time-to-market requirement: One of the most important factors to consider is buying a solution is a significantly faster go-to-market strategy as it can be delivered within eight to sixteen weeks (depending on the complexity of the use cases) compared to the months or years it can take to build a platform in-house.
With the SaaS market booming to its full glory where the market size is projected to reach USD 307.3 billion by 2026, it is making it easier for brands to subscribe to services without a need to maintain hardware or other resources.Before we dive straight into the debate of build vs buy, let us explore how customer behaviour and purchase paths have gone through a revolution as well.
The digital revolution has armed customers with smartphones, tablets and users today are demanding and expecting service, thereby shaping the product offerings they consume. Gone are the days of brands Buy Bulk SMS Service dictating and influencing customer expectations. While option-fatigue and the tyranny of choices have affected the decision making process, price comparison engines, coupled with voices of Key Opinion Leaders (KOLs) and influencers, are helping users make informed purchases.
Track record of the development team: Measure your development team’s skills and maturity in terms of competence, agility, and ability to deliver. If they measure up to a good level, then building software in-house makes more sense as compared to buying a market-ready solution.
Resources available at your disposal: Budget is a big deciding factor when it comes to buy vs build debate. Higher the spend limit exercised by brands, it gives building the software more favour. For companies that have a limited budget, buying a solution is an easy way to tackle this.
Time-to-market requirement: One of the most important factors to consider is buying a solution is a significantly faster go-to-market strategy as it can be delivered within eight to sixteen weeks (depending on the complexity of the use cases) compared to the months or years it can take to build a platform in-house.