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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