How do you balance driving product innovation while also meeting the other needs of your organization?

When you build, your bespoke software can generate new business models. When you buy a product, you have to adjust your business model to incorporate the software. Building takes time while buying is instant. Picking the correct balance for your organization by assessing your initiative’s business, functional and technical aspects is crucial. That’s where the Build and Buy strategy comes in handy ; you buy the standard capabilities and build the unique capabilities. The end product or the services offered to the consumers contains a combination of the software you bought and built. A powerful platform is required to connect the build and buy from a business and technical perspective. That platform allows you to integrate and assemble as well as create new products and services. Composable enterprise, digital platform, lean enterprise, and platform as a service are few definitions in the industry for such platforms.

Anonymous Author
When you build, your bespoke software can generate new business models. When you buy a product, you have to adjust your business model to incorporate the software. Building takes time while buying is instant. Picking the correct balance for your organization by assessing your initiative’s business, functional and technical aspects is crucial. That’s where the Build and Buy strategy comes in handy ; you buy the standard capabilities and build the unique capabilities. The end product or the services offered to the consumers contains a combination of the software you bought and built. A powerful platform is required to connect the build and buy from a business and technical perspective. That platform allows you to integrate and assemble as well as create new products and services. Composable enterprise, digital platform, lean enterprise, and platform as a service are few definitions in the industry for such platforms.
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