3 basic steps before buying/developing technology solutions

When a company is convinced to take a technological step for the development of its business, the specific question usually arises:

Is it better to buy or develop the required technology solution?

To answer this question and to clearly identify the requirements that arise in the face of a technological challenge, here are 3 steps to consider, before taking the big step:

1. Short-, medium- and long-term strategic vision: A #strategicplan should be developed that clearly identifies at all three levels of time, what the #technologicalsolution will come to improve and the impact it will have for the whole organization. Clearly identifying the pros and cons, as well as alternative action plans.

2. Evaluate the company's infrastructure: In this respect, it is important to view the company's infrastructure in three dimensions:

• #FinancialResources: Clearly determine the budget that the company is willing to invest, and although it is not an expense but an investment, clearly determine the recovery periods of that investment.

• Human Resources: Team that will be involved in either the development and/or implementation of the technological solution. If they have sufficient knowledge to deal with the project, and what type of support/guide they require.

• #Technologicalresources that the company already has: Networks, bandwidths, hardware, etc. It is very important to make this assessment, to be sure that the solution you want to implement, can be supported with the resources that you already have, or if you require a larger investment in this area.

3. #Consultanexpert: Think about your business, as if you were a person who needs a doctor's appointment. Before taking the big step to expensive surgery and/or treatment, it is important to hear the voice of the experts. Similarly, when making a technological investment in your business, an expert on the subject should be consulted to learn about the pros and cons, long before the decision has been made.