10 things you need to know before buying manufacturing softwareMRPeasy
It is inevitable that for many companies experiencing growth, there comes a point when MRP software is needed. Here are 10 things you need to know before buying manufacturing software.
The primary goal of most companies is to successfully grow and one notable challenge facing companies seeking to expand their business is often managing the growth of their IT infrastructure. The 5 tips listed in this guide provide a comprehensive set of measures for organising and structuring your IT infrastructure to support your company’s growth.
Software Outsourcing: Outsource Your Project or Build a TeamSoftheme
This presentation is about two different models of outsourcing - project-based and team-based outsourcing. Read through this presentation material to learn more how to successfully select a proper IT Outsourcing Model for your business.
Software Outsourcing: Pitfalls and Best PracticesSitrusLLC
When to outsource (and when not to)
Typical projects
Key issues with outsourcing
Most common reasons projects fail
Best practices
Questions to ask your potential partner
10 things you need to know before buying manufacturing softwareMRPeasy
It is inevitable that for many companies experiencing growth, there comes a point when MRP software is needed. Here are 10 things you need to know before buying manufacturing software.
The primary goal of most companies is to successfully grow and one notable challenge facing companies seeking to expand their business is often managing the growth of their IT infrastructure. The 5 tips listed in this guide provide a comprehensive set of measures for organising and structuring your IT infrastructure to support your company’s growth.
Software Outsourcing: Outsource Your Project or Build a TeamSoftheme
This presentation is about two different models of outsourcing - project-based and team-based outsourcing. Read through this presentation material to learn more how to successfully select a proper IT Outsourcing Model for your business.
Software Outsourcing: Pitfalls and Best PracticesSitrusLLC
When to outsource (and when not to)
Typical projects
Key issues with outsourcing
Most common reasons projects fail
Best practices
Questions to ask your potential partner
GUIDE TO ERP IMPLEMENTATION FOR AGENCIES- For every organization, there comes a time when it outgrows
the capacities of its homegrown systems. Implementation
of ERP becomes essential for the functioning of such companies.
The decision to automate your agency or to change your current Agency Management System is a challenging endeavor—figuring out which one to choose, even more so.
By focusing on organizational enablers and robust software engineering practices, e-commerce companies can shorten the development lifecycle, outmaneuver the competition and remain relevant in the eyes of customers.
Recent webinar presentation by Jama Software and Ravenflow on the State of Requirements Management. This presentation shared the findings from an industry survey and report on the latest trends, challenges and techniques that teams are using to plan and develop new software products and systems.
Software Outsourcing. Realities and Perspectives: Brief OverviewSoftheme
Outsourcing is contracting with another company or person to do a particular function. Almost every organization outsources in some way. Typically, the function being outsourced is considered non-core to the business. An insurance company, for example, might outsource its janitorial and landscaping operations to firms that specialize in those types of work since they are not related to insurance or strategic to the business.
This presentation is about the future of software outsourcing. It contains some new facts about outsourcing development progress.
New IDC Research on Software Analysis & MeasurementCAST
Watch this exciting webinar with Melinda Ballou, a leading analyst with IDC, as she reviews the newly defined market category of Software Quality Analysis and Measurement (SQAM). Hear Melinda discuss the motivation behind increased spend on SQAM such as competitive pressures requiring rapid adaptability while avoiding software failure, complex sourcing environments that include onshore, offshore and open source options, and economic impacts that drive efficiency and accountability in development.
To view the webinar, visit http://www.castsoftware.com/news-events/event/idc-software-analysis-measurement?gad=ss
Techsync has been in the forefront in providing solutions using latest technology, to various industry verticals with a specialization in Airline Industry. Such innovative solutions has always encouraged Techsync to help customers leapfrog to achieve maximum benefit.
A vendor, or a supplier, is a supply chain management term that means anyone who provides goods or services to a company or individuals i.e. WEB ERA Company is the vendor for panacea ERP software.
According to the 2013 UK ERP selection guide, we will need to assess the vendors who are most appropriate to our organization and what size of resources, geographic coverage and breadth of product rage we expect them to have.
GUIDE TO ERP IMPLEMENTATION FOR AGENCIES- For every organization, there comes a time when it outgrows
the capacities of its homegrown systems. Implementation
of ERP becomes essential for the functioning of such companies.
The decision to automate your agency or to change your current Agency Management System is a challenging endeavor—figuring out which one to choose, even more so.
By focusing on organizational enablers and robust software engineering practices, e-commerce companies can shorten the development lifecycle, outmaneuver the competition and remain relevant in the eyes of customers.
Recent webinar presentation by Jama Software and Ravenflow on the State of Requirements Management. This presentation shared the findings from an industry survey and report on the latest trends, challenges and techniques that teams are using to plan and develop new software products and systems.
Software Outsourcing. Realities and Perspectives: Brief OverviewSoftheme
Outsourcing is contracting with another company or person to do a particular function. Almost every organization outsources in some way. Typically, the function being outsourced is considered non-core to the business. An insurance company, for example, might outsource its janitorial and landscaping operations to firms that specialize in those types of work since they are not related to insurance or strategic to the business.
This presentation is about the future of software outsourcing. It contains some new facts about outsourcing development progress.
New IDC Research on Software Analysis & MeasurementCAST
Watch this exciting webinar with Melinda Ballou, a leading analyst with IDC, as she reviews the newly defined market category of Software Quality Analysis and Measurement (SQAM). Hear Melinda discuss the motivation behind increased spend on SQAM such as competitive pressures requiring rapid adaptability while avoiding software failure, complex sourcing environments that include onshore, offshore and open source options, and economic impacts that drive efficiency and accountability in development.
To view the webinar, visit http://www.castsoftware.com/news-events/event/idc-software-analysis-measurement?gad=ss
Techsync has been in the forefront in providing solutions using latest technology, to various industry verticals with a specialization in Airline Industry. Such innovative solutions has always encouraged Techsync to help customers leapfrog to achieve maximum benefit.
A vendor, or a supplier, is a supply chain management term that means anyone who provides goods or services to a company or individuals i.e. WEB ERA Company is the vendor for panacea ERP software.
According to the 2013 UK ERP selection guide, we will need to assess the vendors who are most appropriate to our organization and what size of resources, geographic coverage and breadth of product rage we expect them to have.
Custom Software Development Cost, Process and Time (2).pdfJPLoft Solutions
The process of software development can often be complex and time-consuming. However, there are several ways to simplify the process and make it more efficient. Custom software development services offer unparalleled opportunities for bringing your ideas to life. With custom software development, you have the freedom to determine the appearance, functionality, and features of your software. You are in complete control of how your software looks and performs, ensuring that it aligns perfectly with your vision and meets your specific requirements.
Custom Software Development Cost, Process and Time.pdfJPLoft Solutions
Custom software development services provide unparalleled opportunities to realize your ideas. You get to decide how your software looks and acts; what functions it should perform. Furthermore, custom apps offer unsurpassed data security as only you can access its code; additionally, you can incorporate business expansion plans into its architecture for easier expansion of functionality over time.
In this blog, you will gain a full understanding of the benefits of custom software, what to look for when hiring a custom software development company, the risks and costs, what to expect in the entire software development lifecycle, and how to ensure the success.
Read full article here: https://www.vrinsofts.com/an-ultimate-guide-to-custom-software-development/
In today’s global marketplace, successful companies must be able to integrate and quickly view quality audit information from their manufacturing sites all over the world. This strategic capability has become even more important as manufacturers have moved offshore and have become more complex. The value and immediacy of quality assurance data is a critical element to the survival of competitive manufacturing organizations. Software systems can address these issues.
Source:
Lyons Information Systems, Inc
http://www.lyonsinfo.com
Learn the 2024 guide to custom software development. Check industry trends, the development process, and benefits for businesses seeking tailored solutions.
In Automated Controls It’s No Longer the Traditional Build vs. BuyMelissa Luongo
Exploring an Alternative Perspective | An Infogix Position Paper by Lane Lambert and Chris Kosin
Decades of experience and research have shown that organizations maximize their return on investment (ROI) when they build or buy solutions that automate core processes. While making the build versus buy decision for automated or ancillary data integrity controls, an organization needs to determine if it is in the business of controls and how each option impacts Capital Expenditures (CAPEX) and Operational Expenditures (OPEX) budgets. “Buy to standardize, build to compete” has been an IT mantra for many years. Yet, executives responsible for developing an automated controls strategy continue to struggle with this question. The decision not only impacts the ability of an organization to meet its immediate controls needs but also has longstanding influence on the ability to maintain and sustain an internal control environment that is aligned with business needs. The rule of thumb has been: if the system is a requirement for business, “buy” is the answer; conversely if the system provides a competitive advantage, then the answer
is “build.”
In this paper, we propose an alternative way to look at Build vs. Buy by splitting “buy” into two options: – pre- packaged offering and configurable solution. The pre- packaged offering refers to an off-the-shelf product, while a highly configurable solution combines the virtues of a “build” solution with the flexibility and adaptability of a “buy” solution that is faster to deploy and removes the risk inherent in building internal controls. Regardless of the solution, the decision points remain the same: CAPEX vs. OPEX cost, time to deployment, internal politics, regulatory compliance mandates, architecture, IT staff competencies and strategic importance to the organization’s bottom line. However; as IT departments are increasingly stretched thin, in part due to increased data governance, audit, and overall challenges to close fragmented data integrity gaps, the case for a highly configurable data integrity controls solution becomes a compelling consideration to deliver a tailored system that capitalizes on the benefits of both building and buying. Leading organizations that use Infogix Controls have achieved significant cost savings (up to 80%) compared to internal development options. In addition, implementing Infogix Controls has enabled these organizations to rapidly deploy controls to efficiently meet changing business and audit needs. This position paper provides a framework to compare and contrast build versus buy by evaluating buy in two dimensions – pre-packaged vs. configurable – to delve into the financial and non-financial implications of these options.
Week 7 - Choices in Systems Acquisition and Risks, Security,.docxhelzerpatrina
Week 7 - Choices in Systems Acquisition and Risks, Security, and Disaster Recovery
Sousa, K., & Oz, E. (2015). Management Information Systems, 7th Edition. Cengage Learning.
ISBN-13: 978-1285186139
Read:
· Chapter 13
· Chapter 14
Week 7 Lecture 1 - Choices in Systems Acquisition and Risks, Security
Management of Information Systems
Choices in Systems Acquisition and Risks, Security
Systems Acquisition
Options to consider when acquiring a new system are, development in-house, outsourcing, licensing, software as a service (SaaS), and having users develop the system. There are trade-offs to consider for each option. In-house development has several advantages to consider such as a good fit to organizational need and culture, dedicated maintenance, since the developers are accessible within the company, seamless interface, when the system is custom-made for an organization special requirements can be implemented to ensure that it has proper interfaces with other systems, and specialized security, special security measures can be integrated into an application. Additionally, there is a potential for strategic advantage. Some of the disadvantages of in-house development are, high cost, a long wait for development personnel, who might be busy with other projects and the application may be excessively organization specific to integrate with other systems.
Outsourcing
Advantages of outsourcing are improved financial planning sense outsourcing enables a client to know the exact costs of IT functions over the period of a contract. Another advantage is reduced license and maintenance fee discounts. Outsourcing gives businesses an opportunity to increase their attention to the core business by letting experts manage IT. Outsourcing also provides shorter implementation time as IT vendors can in most cases complete a new application in less time than in-house development. A reduction in personnel as another advantage as IS salaries and benefits are expensive. Outsourcing increases access to highly qualified knowledge. Clients can tap into the IT vendor’s knowledge and experience gained by working with many clients in different environments.
Some of the risks of outsourcing IT services are a loss of control, a loss of experienced employees, outsourcing involves transferring organizations employees to the highest vendor, the risk of losing competitive advantage outsourcing the development of strategic systems is the same as disclosing trade secrets. Another disadvantage is high price despite careful pre-contractual calculations companies find that outsourcing cost them significantly more than if they had spent their resources on in-house development.
Licensing
Benefits of licensing software are immediate system availability, low price (the license fee), available support, and high quality. Immediate availability shortens the time from when a decision is made to acquire the new system and when the new system begins to be productive. The product is high qual ...
Traditional, full-code waterfall application development, with its focus on a sequential define-develop-test-deploy-maintain approach has given way for many enterprises to low-code/no-code development
Why Choose the Nalpeiron Licensing Service vs. Building Your OwnJon Gillespie-Brown
Historically many ISVs have built their own licensing due to lack of flexible or cost-effective enough solutions to their needs, but with the advent of standards today, such as web services and new vendors like Nalpeiron who offer a modern hosted paradigm, many of those previous barriers to outsourcing have been removed.
So why has licensing lagged behind?
Download this white paper now to discover the real costs, risks, and issues associated with Software License Management solutions.
Accelerate Innovation & Productivity With Rapid Prototyping & Development - ...Attivio
Today, development teams typically need hundreds of person hours to develop an application or to fully
integrate a new platform. Prototypes and Proofs of Concept (PoC) also take many weeks (or even months)
to develop. If you could significantly reduce these timeframes, you would accelerate time to market and
expedite PoCs and rollouts. This advantage saves money and reduces the risk of missing features, late deliveries or inadequate testing.
The Top 5 Benefits of Engaging a Dedicated Development Team for Your Upcoming...Techtic Solutions
Maximize project success with a dedicated development team. Explore the top 5 benefits of their expertise. Elevate your upcoming project today with Techtic Solutions!
oftware modernization, otherwise known as legacy modernization, refers to the work of converting, rewriting or porting a legacy program to bring it up to the latest standards in computing and software. This includes such things as modern programming language, software libraries, protocols, cloud technologies (Serverless architecture, Microservices, etc.), hardware platforms, etc.
Perhaps this is a good place to define legacy software, to help us better understand what is at stake when we talk about software modernization.
Surviving the Software Selection ProcessAnthony D'Ugo
I presented at a CMA Ontario professional development event to 50+ attendees on Dec 3, 2009, and again on Dec 17, 2009 due to a sold out first session with an accompanying waiting list. I shared insights and approaches with the attendees to help them find opportunities to reduce the costs, risks, and time associated with software evaluation and selection. I was then asked to write an article on the topic for the CMA Ontario Member Newsletter because of the high level of interest from their members - published on Jan 2010.
What are the Best Practices for Enterprise Software Applications?BoTree Technologies
The article "What are the Best Practices for Enterprise Software Applications?" provides a comprehensive guide to building high-quality enterprise software applications. The article outlines essential best practices for software development, including requirements gathering, architecture design, testing, deployment, and maintenance. It also discusses key considerations for building scalable, secure, and maintainable software applications. Additionally, the article covers strategies for ensuring user adoption and engagement, such as user-centered design and effective communication. Overall, the article serves as a valuable resource for software developers and businesses looking to build robust, efficient, and user-friendly enterprise software applications.
The frequency of software vendor license audits is skyrocketing. Are you ready? This bulletin discusses why many enterprises are unintentionally out of compliance, and self-audit tactics to help minimize or negate audit penalties.
Similar to Finance :: Insurance Software Solutions - Build or Buy (20)
Finance :: Insurance Software Solutions - Build or Buy
1. Finance :: Insurance Software Solutions - Build or Buy
Companies that want to be successful need to develop, grow, and manage their business effectively-yet
to successfully accomplish this, today's insurers need to recognize industry trends and optimize
them.
DEVELOPMENT TIME
Build: Business need to factor in the multitude of required meetings necessary to plan, discuss,
design, execute proof-of-concept, and maintain continual development. A policy administration
solution can be particularly tough to estimate the total investment; you have to include the cost of
the resources involved in environment & software development, including :
o Requirements gathering
o Infrastructure construction
o Analyzing
o Designing
o Implementation
o Testing
o Training users
o Ongoing maintenance/enhancements/updates of the software
Buy: Purchasing an insurance solution suit or policy administration software is often more cost
efficient, as it eliminated many of the costs involved in architecture design and development,
however there are still licensing fees subscription costs, particularly with Software-as-a-Service
(SaaS) model. Even though a custom-built application may seem to offer
control and flexibility, build-your-own-software can lock your company into a less than
optimal solution.
Buy: Solution vendors have the benefit of having invested their time, money and resources into
perfecting solid software that they can tailor to fit your needs. Other compelling items to consider
when trying to decide whether to build or buy include:
o Vendor solutions for policy administration applications have the capability to leverage reusable
components.
o Purchased software can often be easier/quicker integration with third-party technologies.
o Reliability has been tested and proven.
2. o Purchased software should be scalable, future-proof, and able to handle fluctuations in user
demand, providing the ability to grow with your business. Additionally, SaaS solutions also have the
added advantage of rolling out new releases, quickly and efficiently without the need to train
additional resources or invest time into programming and development. After all, the repercussions
of a software choice can be long lasting and affect all your business systems and processes.
Many businesses assume that building their own in-house software is an easier route; especially
considering that it would be customized for their organization. Since it is developed and maintained
by in-house staff, you have total control over the software, changes, updates and overall design.
Proven software solutions should have an agile development methodology, which would allow for a
continuously enhanced platform, and ensure that custom feature requests can be folded into the
base application. While this is an often overlooked benefit, it can be a key factor, as having the
ability to stay modern is a critical element for business. Budgets can change based on economical
factors, and so can moods, minds, and development criteria. However they often overlook the fact
that a tailored solution could result in increased costs, including the addition or enlargement of IT
teams and of front-end time by employees. Subscription or pay-as-you-go models can minimize risk,
as a business can roll in applications based on need. Any software investment should yield positive
results, whether they address complex system challenges by streamlining operations, reduce costs,
leverage new market opportunities, or as with some vendors, a unique combination of all. However,
when software is developed in-house, there are added costs involved for development, testing and
design, especially in order to keep software from becoming dated or obsolete. However, in today's
uncertain marketplace and rapidly advancing technology environment, innovation can be a risk. A
common perception when developing in-house software is that users will not expect as much from it
as a purchased software package, that they will be more forgiving of its shortcomings. Each of these
stages can take months or even years before you're ready for launch, which can be further
complicated by system defects, flaws, and revisions. Additionally specific software development
tools, training and staff time must also be included in estimates.
Buy: Speed-to-Market is a term that has been abundantly utilized, as insurers recognize the
importance of rapid response, fast turnaround and the downside of development time. Like many
business marketplaces, the P & C industry is an extremely competitive one. Additionally, when
opting to buy a solution, you want to ensure that expansion costs are considered -as adaptability of
the product is a key advantage especially for expanding distribution channels and/or leveraging new
market opportunities. Gone are the days when one dimensional insurance portals are packaged and
sold, with rigid tactical application for submission and limited data capture.
SOFTWARE MAINTENANCE
Build: Anyone who has an iPhone or who has ever logged into Windows is probably familiar with the
message indicating software updates are available and to install. Not to mention ongoing
maintenance of the policy administration system, unsupported by an external company, as well as
the costs for system developers necessary to help construct and implement such infrastructure.
Vendors often include a setup or installation fee, which in some cases may also include a
maintenance package or service plan. if your programmers have fast fingers, your data can be
captured and coded quickly, however no matter how speedy your developers are, there is no rushing
quality.
Buy: When you purchase policy administration software, updates and maintenance are the
responsibility of the vendor, as opposed to in-house staff. Requirements gathering, writing and
testing the application code, user training and acceptance, hardware/software coordination and
testing systems, comprises only a portion of the time necessary to developing a customized system.
3. There are however, considerable challenges too, as vendors may tout a rapid deployment, however if
there are complications in a build, or they fail to adhere to company's business requirements,
inevitable delays can turn costly. As most Legacy system users learned (the hard way) if your system
is not future-proof, than technology will continue to evolve, regardless of whether your business can.
But in reality, users demand as much, if not more, from software developed in-house. Businesses are
often misled on the upfront expenses of an in-house build, as it is nearly impossible to estimate all of
the modifications that are sometimes overlooked during the initial design.
In an effort to assist insurers with the decision about whether building or buying an insurance
software solution is best for your company, we've complied a small comparative to consider
regarding the differences between "buy" and "build."
UPFRONT COSTS
Build: It can be difficult when factoring in upfront costs, to build a custom insurance software
solution, because initial investment in hardware as well as software may be required. Vendors can
now focus on increasing acceleration, value, and innovation, so when a business chooses their
system, the software arrives with already proven performance quality.
OTHER FACTORS
Build: The reality with most businesses, particularly insurers, is anything can happen. There are a
myriad of other factors that businesses must consider when building their own solution, like: Do our
business and IT Strategies align ? Is our solution adaptable, responsive, and future-proof? Is our
design scalable ? Can it cater to the businesses growth and expansion into new markets ? What if
the developer(s)who build our in-house system are heading out the door? What resources should we
be willing to sacrifice if we maximize our budget but encounter unexpected issues ? How do we
accommodate for an unsuccessful implementation ? When and how can we measure growth, return
on investment (ROI) and true speed-to-market ?
Buy: SaaS solutions, particularly those with a
scalable suite of insurance processing
applications that handle core functionality,
have measurable benefits, including faster time
to value, minimized operational costs, and
simplified integration. It can takes years of
development and maintenance--not to mention
a quite a lot time and money before the system
meets the requirements that guided its
development and design, works as expected,
and can be implemented with those same
characteristics. There are no guarantees that could bridge the gap between an in house system's
capabilities and the actual implemented system, which those who have encountered this dilemma
know, can often become exceedingly significant.
In conclusion, ultimately, there will be additional underlying aspects, many unique to your business's
current and expected demands which should also be explored, but in summary, as indicated by
recent analyst and industry reports, organizations who opt to build often fall short of their
expectations when choosing to build their own software, versus buying a system.
4. . Being adept at implementations, especially those that are scaled to fit any size insurer, as well as
having exceptional experience in software development, maintenance and systems integration, is
also a key factor when opting to buy. Regular release updates not only improve functionality, but
also to eliminate flaws. Not only that, users often think that because the developers are in-house and
accessible, they can request customizations and changes whenever they want, which is obviously not
an efficient way to manage expectations. Other typical costs to factor in include on-site requirements
gathering and training, as well as any travel expenses which are often involved. Now solutions are
being honed to fit the growing demands and ever changing imperatives of business.
SOFTWARE MATURITY
Build: Like a fine wine, good software often needs time to age, or rather mature. Proven vendors
often have honed their experience in an effort to provide the most effective and efficient
development and testing methodologies, thereby allowing businesses to focus on adapting to a new
system. And while insurers are familiar with risks- most have built their business around identifying,
analyzing, managing, and insulating against them, deciding on which trends to follow and what
opportunities to leverage, is a critical decision.
With the advances in technology and the constant fluctuations in identifying risk factors, now more
than ever, it is important to have a system that can deliver instant access, along with the ability to
respond and manage your exposure. Of course, this situation could be prevented/controlled with a
careful management process. A system with true multi-tenant architecture will enable every client to
benefit from system enhancements. In order for a system to remain innovative, it must remain
current and effective. Software developed in-house is especially taxing, on both the builders and the
testers, as there are always 'bugs' to squash and faults to find. Yet when it comes to modernizing
your operation, to maximize efficiencies of business processes, businesses often face the choice of
whether to build or buy the software. Like any careful insurers, it is imperative to weigh the factors
and consequences carefully. When you buy an insurance software solution, true speed-to-market is
easier to achieve with a competent product that can be ready to launch, and it only requires an
investment in time for user training