We are back with the 3rd installment of the 3 part “Build vs. Buy” series focused on Installed Base Management solution.
In case you have missed the previous installments, you can find them here:
In this final part of the trilogy, we do a head-on comparison between the build and buy solutions to see which option would work best for you.
|Build your own IB Management Solution
|Buy an IBDP
|Build projects are too specific to an org, department, or business case and do not benefit from other industry learnings.
|An IBDP is purpose-built for Industrial OEMs and utilizes a library of data strategies that work across various machinery sectors.
|Build projects rarely address data quality and reliability.
|Most of the Buy projects, like an IBDP, readily address data quality.
|The data structure can’t support new types of data.
|The Data model is built to support the data needed to manage the installed base.
|Build projects require a lot of trial and error before they become accurate and usable.
|The analytics & AI algorithm is built for OEMs and trained on millions of transactions.
|Opportunities generated from a build project are myopic or very low in numbers.
|Opportunities are auto-generated & large in numbers. They are prioritized based on various parameters.
|The initial set of “business needs” influences the overall structure of the build solution making it harder to modify/customize in the future.
|An IBDP provides configurability without requiring any custom development.
|Both IT and Business teams are required to be involved on an ongoing basis in the maintenance and future development of the build solution.
|When you buy an Installed Base management solution you also get dedicated implementation and customer success teams with very little effort required & impact on your teams.
|Building an in-house solution is more time-consuming and has many hidden maintenance costs.
|Implementing an IBDP takes approximately 8 – 12 weeks and there are no additional hidden costs involved.
|Build projects lack industry-level expertise and the ability to bring over strategies from other industries.
|Buy projects are usually up-to-date with the latest industrial advancements and backed up by a team of industry leaders dedicated to transforming Industrial OEM space.
|A home-grown Installed Base Management solution is not a platform. It’s a tool or a combination of tools in a toolkit. It will not scale to future needs as a home-grown solution is always built with the shortest/pressing priorities in mind.
|Most importantly, an IBDP is a platform – it can support both current and future business needs with ease.
By the way, we at Entytle provide the world’s leading Installed Base Data Platform called Insyghts!
An IBDP – Installed Base Data Platform, is a system of intelligence that aggregates, unifies, organizes, and analyzes all the data required by any OEM to deliver the best customer experience. It is purpose-built for Industrial OEMs. It connects all the systems that you use today from ERPs to CRMs and brings together all your equipment, contact, account, location, service, parts, warranty and helps you zoom in from your territory to a single line item installed at a customer location. The IBDP is specifically designed to remove any element of unreliability in your data without you having to do any of the heavy lifting. An IBDP helps OEMs to drive their revenue growth and ensure customer loyalty as well as customer satisfaction.
The best part is today’s IBDPs help OEMs not only open up the vast untapped potential of Industrial Installed Base data (no matter how bad its quality is), they also help derive actionable insights that drive immediate business results for machinery manufacturers.
So, why build an Installed Base Management Solution, when you can actually buy an Installed Base Data Platform?
Interested to know more about an IBDP? Click HERE