profile image
HCL Volt MX Team
Posts by HCL Volt MX Team
article-img
Digital Solutions | January 22, 2021
Build or Buy? The Answer Is Key to Digital Transformation. Are the Resources It Takes to Build Worth It?
Companies worldwide are developing new technology strategies and solutions, and there is a fundamental question that can keep CEOs awake at night: Build or buy? Choosing whether to buy or build has historically depended on the type of tech that a company needs to implement. But in an environment in which more people than ever are working remotely and app developers need to cater to more user modalities (such as mobile, wearable, and desktop devices) than ever before, a clear shift is emerging in favor of buying. [button link="https://www.hcltechsw.com/products/volt-mx" type="big" color="black"] Build consumer-grade multiexperience apps — fast — with HCL Volt MX[/button] The hidden costs of building It’s understandably tempting to build new solutions — companies have teams of talented developers and want to maintain control over their costs as well as their technology. However, what initially seems like the cheaper, more reliable option can be riddled with hidden costs. Organizations tend to underestimate both the time and money it takes to maintain security and operations when building new tech — plus it’s hard for development teams to control or push back against “scope creep” when those requests to add features or functions come from upper management or the head of IT. There are often many more building steps required before deployment than companies often realize when they first plan projects and solutions.  The time and IT support that building internally requires can slow the deployment of new tech drastically. We are living in a time when time-sensitive information and updates are as important as ever, and remote working conditions make it impossible for IT teams to address company tech issues in person. Once an app or other technology solution is built, the journey is far from over — development teams have to maintain and update it to keep up with the needs and demands that can come from employees, partners, and/or customers. Enterprise organizations bank on success by choosing to buy A recent Forrester study interviewed five companies with revenue from $5 million to $6 billion and found the net financial benefit of buying new tech (over building) to be $1,686,884, with an average ROI...
Close