Why You Should Buy (Rather Than Build) Software
Implementing new software at your company might sound simple, but there are many hidden factors to consider. First, take a step back and think about the big picture.
- What problem is being addressed?
- What resources are at your disposal?
- What is your timeline?
- Is there something commercially available to meet your needs?
When To Build
To be fair, there are some scenarios when it is preferable to build technology rather than outsource. On occasion, an idea emerges which has never been done before and is worth exploring if you can dedicate time to it. A couple instances could include:
- Creating personalized software tailored to specific needs
- Integration in a company’s existing systems
While building a tool customized for your company’s specific needs has advantages, it’s important to recognize that it will be a major undertaking and an ongoing, long-term project.
We’ve talked to clients who have tried to build their own software and found that sometimes it works … for one therapeutic area. When they try to expand it to new functionalities or therapeutic areas, it often doesn’t work, and they are left with technology with limited capabilities that cannot support their needs. This is when they seek out an experienced software vendor.
Companies typically overestimate the ease of building software and cannot be certain of success. From having dedicated personnel to its constant maintenance, it takes more time and money than most expect. And this is assuming you have in-house specialists who have the bandwidth to manage the complexities of working with data in different formats from varying systems. It’s not as simple as it looks!
Why Companies Should Buy Software From Vendors
Buying the right software typically is easier, more affordable and a more successful alternative. Using vendors, you can avoid exposing your company to the risk of building your own software, and instead rely on technology designed by experts. Some benefits to buying software from a known vendor:
- Software companies have one focus: to build a perfect tool
- You’ll know how much you’re investing up front
- Software companies typically have in-house support to ensure you succeed
- The software already exists and is ready to implement
Buying Software in the Healthcare Industry
When you factor in healthcare data, building software in-house becomes even more complicated. Organizations are often working with data in a variety of structures and standardizing it into one format for medical systems. It’s not for the faint of heart. And there’s also the issue of HIPAA compliance and making sure that your data is secure. By now, you can likely understand why it’s best to enlist experts with already existing software.
As the leader in clinical trial acceleration software there are many benefits to using our tool versus trying to build software in-house.
- Software for clinical trials is an entirely new level of complexity. Our AI platform provides access to a precision-matching ecosystem of thousands of sites, patients and sponsors.
- We have the largest network of unstructured EMR data among hospitals, universities, community clinics and other healthcare organizations in the United States. The depth of this data is an incredible advantage and leaves those who aren’t using our technology behind.
- We listen to our users and create new product features based on their feedback.
- Our software is sophisticated. We apply AI to both structured and unstructured EMR data to optimize protocol design and feasibility, site selection and patient recruitment for clinical trials in real time.
We’ve built a research ecosystem that connects researchers, physicians, sponsors and CROs to advance clinical research and bring life-saving treatments to patients faster. If you’d like to learn more about our clinical trial acceleration software and how it can help you succeed, reach out!
Author: Tim Keliher, Chief Revenue Officer