Our guest blogger for this series is Mark Davis the Chief Technology Officer (CTO) at SafeSourcing. Mark brings a unique perspective to this series of posts as one that regularly has to decide whether to build or buy technology and related services is the best way to move his business forward.
I often have to ask myself the same questions in both my professional and personal life.
1. Do we take on this task ourselves because I believe it will cost us less
2. Do we stand to pay more money than external professionals would cost in the long run by trying to do it myself??
This decision is constantly debated and pondered by all, whether it is in their business or in ones personal life. While many factors go into making these decisions, they usually end up being decided by one thing?..money. What is the cost of the path chosen?
Specifically, in the area of e-Procurement, there are also a multitude of options. Below are two.
1. Option One is to have existing staff members regularly search for new potential suppliers to provide quotes for an item or service the business wishes to purchase.
2. Option Two is to purchase a solution that will provide a mix of software that can be installed or used in the form of Software as a Service (SaaS). This may also require professional services that will assist in RFIs, supplier research, and will also provide a competitive environment for the suppliers to submit bids on the business in the form of a reverse auction.
Tomorrow, Part I of our discussion will focus the pros and cons of a Do-It-Yourself approach. On Wednesday Part II will cover the approach of involving a third party solutions provider.
We look forward to and appreciate your comments.