Build vs Buy in Resolving Chargebacks

Build vs Buy in Resolving Chargebacks | LoadProof

Buying from a Vendor that specializes in this domain is better than building it yourself

Today, IT technology is one of the biggest enablers of supply chain efficiency. Organizations, then, are aware that finding or creating the right capabilities is central to business success. When enterprises contemplate implementing complicated IT infrastructure, whether it is hardware, software, systems or anything else associated with such infrastructure, they are faced with a major decision: whether to buy this thing from a vendor or build it themselves. It is important to make the correct decision, or else you might be setting up yourself for a disaster. Let’s consider the options by weighing the pros and cons of each approach.

Build it with your own team

This approach involves an IT team with the right skillset and expertise. A project manager, one that has a proven ability to deliver in this domain, would be a critical element well.

Pros

This approach, properly managed, could achieve results at a lower cost
The availability of open source allows for further cost reduction.
Integrations, if properly managed, could be done easily.

Cons

All best practices that the industry segment needs won’t be available in your solution.
A key employee leaving can present a major problem.
Sustaining continuous improvement is challenging.
Staying on top of industry trends is difficult
Industry expertise that are built as best practices are not available in this option
Homegrown apps often lack adherence to solid industry grade security standards
In this era of disruption, organizations will lack the nimbleness and agility to adapt to fast changing technology trends.
Home grown apps do not comply with government required compliance standards such as PCI, Sarbanes Oxley, HIPPA etc.

Buy it from an external vendor

Finding the right external option starts with clearly setting the mission and the priorities of the project and developing a clear understanding of the problem that needs to be solved. A formal project charter, which has been thoroughly reviewed by all stakeholders in business and IT, allows organizations to get beyond saying they need a new warehouse management system (WMS), logistics management system (LMS), or enterprise resource planning (ERP) solution. Further, an internal pilot will also help clearly define the desired end state. Next, the organization would need to engage a number of vendors solutions against the desired solution, then select and implement that solution.

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