Build vs. Buy Your AI solution
Pick your fights
We live in a world of endless possibilities when it comes to technology, in a lot of ways we are just getting started. As a business you are faced with many decisions on what to do, and not to do. Which battle to pick. Which fight to fight. When you do decide to get in the ring, and fight the good fight for your customers and your business, there are still tons of decisions to make in order to win.
Build, buy or surbscribe – that’s the question
One major strategic choice of our time is whether to build, buy, or subscribe. If the technology we were talking about was a car, we’d instinctually know that for Volvo building cars is core to their business, but to DHL it isn’t. DHL still needs cars to run their business, so they would buy them. Or these days, they might lease them. For a lot of businesses, the car is not a car. It’s the payment system, the CRM-platform, the hosting of data, or the solution for evaluating all promotions. And hence we feel like it’s all core to our business; we rely on payments, we want to reach our customers, secure our data and evaluate our promotions. And that’s all good, but we shouldn’t confuse the action of payments, customer out-reach, or promo improvements with the enabling solutions for those actions. For someone, those solutions really is their core, and it might be wise to use that to your advantage, in your battle.
At Formulate we have chosen to serve the market with a SaaS business model. Our core is to build state of the art, cloud based, AI solutions for evaluating and improving promotions. For those whose core business it is to run such promotions, our solutions is available to subscribe to.