At TR24, Chris Deacon and Stephen Wilkinson delved into one of the most crucial questions facing organizations today: Should you Buy, Build, or Repurpose technology? In their strategic discussion, they explored the complexities of technology acquisition and implementation, offering practical methodologies for making informed decisions, especially when operating under budget constraints. Their insights, supported by a real-world test case, provided attendees with valuable guidance on navigating this challenging landscape.

The Decision Dilemma: Buy, Build, or Repurpose?

Every organisation eventually faces the decision of whether to buy a ready-made solution, build something from scratch, or repurpose existing technology to meet their needs. Each option has its own set of benefits and challenges:

1. Buying: This is often the fastest and most straightforward route. Purchasing a pre-built solution provides immediate access to established technology, minimizing the time and resources needed to implement it. However, it may not fully meet an organization’s unique requirements and can come with significant ongoing costs such as licensing and maintenance fees.
2. Building: Custom-building a solution allows complete control over functionality and integration with existing systems. This approach can provide a perfect fit for specific needs but requires a substantial investment in time, money, and expertise. Additionally, there is always the risk of delays or unforeseen challenges during development.
3. Repurposing: Modifying an existing solution to meet new needs can strike a balance between cost and customization. This method leverages existing assets and reduces the time needed to develop new technology. However, it might still require significant modifications and could lead to compromises in functionality.

Assessing the Options: Methodologies for Decision-Making

Chris and Stephen presented several methodologies to help organisations make these critical decisions, emphasizing the importance of a structured approach:

1. Cost-Benefit Analysis: They recommended performing a thorough cost-benefit analysis for each option, taking into account not just the initial investment but also long-term costs, including maintenance, upgrades, and training. This analysis should also consider potential benefits such as increased efficiency, improved user experience, and scalability.
2. Feasibility Studies: Conducting a feasibility study helps in understanding the technical, operational, and financial feasibility of building or repurposing technology. This step is essential for uncovering hidden challenges that might arise during the project.
3. Pilot Testing: For organisations considering building or repurposing technology, a small-scale pilot project can help validate the approach before committing to a full-scale rollout. This approach reduces risk and provides valuable insights that can inform the larger project.
4. Strategic Alignment: Chris and Stephen highlighted the importance of aligning the chosen option with the organisation’s long-term goals and strategy. This alignment ensures that the investment supports broader objectives and provides a solid return on investment.

Making the Right Choice in Today’s Economic Landscape

In today’s challenging economic climate, we must be particularly strategic when it comes to technology investments. Chris and Stephen stressed that while building from scratch may seem attractive for achieving a perfect fit, it often requires more resources and time than anticipated. Conversely, while buying an off-the-shelf solution can be quick, it may not provide the flexibility needed to adapt to changing requirements.

Repurposing, when done thoughtfully, can offer the best of both worlds—leveraging existing technology while adapting it to meet new needs. However, it’s not without its challenges, and we must be prepared to invest in customising and maintaining the solution.

Download the Presentations here.

TR24 – Presentations