Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals
Navigating the Build vs. Buy Decision for
Your Finance Technology Needs
• Recognize when manual processes (the status quo) are
the right answer
• Realize the upside and downside of growing your own
solution as needs arise
• Identify best practices when performing a build vs. buy
ROI analysis for FinTech projects
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Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals
Navigating the Build vs. Buy Decision for
Your Finance Technology Needs
Mike Murphy, CPA
Chief Business Officer, goTransverse
Today’s Take-aways
• Manual processes (the status quo) are the right answer
• Upside/downside of growing your own solution
• Upside/downside of going with a specialized vendor
• Best practices when performing a build vs. buy ROI
analysis for FinTech projects
Taking the lead in IT decisions
Accenture 2014 High Performance Finance Study, CFOs:
• 40% drive decisions actions impacting tech investment
• 45% play the top role in monitoring ROI
• 23% are in charge of identifying tech to retire/replace
• 2 of 5 anticipate increased investments in cloud and
SaaS by at least 26%, with 11% saying increase >50%
Source: CIO Insight coverage of Accenture 2014 High Performance Finance Study;
http://www.cioinsight.com/it-management/it-budgets/slideshows/cfos-taking-lead-role-in-it-decisions.html
The Choice Chart for FinTech
Do NothingManual
Processes
3rd Party Solution
Homegrown
On-premise or
hosted?
On-premise, SaaS
or hybrid?
More
Spreadsheets!
When Manual Processes Work
Start-up/early stage company
New go-to-market strategy
No/few business processes
Opportunity cost to manage
manually is less than the
benefit of automation
photo by Craig Chew-Moulding on flickr
Benefits of Manual Processes
Quickly adjust to market changes
Testing of processes
Evolving business model
90 Day Rule
• Leadership
• Acquisitions
• Mergers
• Greenfield product offers
When Manual Processes Fail
• Have repeatable processes filled by an ever-increasing
accounting or finance (or sales, marketing, etc.) team
• Can’t hire fast enough to satisfy demand
• Inability to forecast revenue and/or expenses
Don't put off until tomorrow what you can do today.-Benjamin Franklin
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