You now understand the problem you want to solve, and you may be leaning in one direction or the other based on the answer to some of the eight critical consideration questions explored in part one. To fully understand your options, you\u2019ll want a high-level understanding of the pros and cons associated with each method.<\/strong><\/p>\n <\/p>\n It is important to note that sometimes the best solution combines build and buy. Let\u2019s take, for example, a typical utility customer My Account solution implementation.<\/p>\n The utility may build a custom customer interface while buying software to support common, though complex, My Account features, including the billing and payment platform, usage insights and widgets, outage map, and so on. This allows the organization to use the best software to support their needs<\/a> rather than committing to one monolithic vendor solution.<\/strong><\/p>\n We find this model is becoming increasingly common in the energy and utility industry. In this case, bought software forms the reliable base for common business functions such as billing, work management and CRM while allowing for the flexibility to plug and play as the organization evolves.<\/p>\n The key is ensuring the end user doesn\u2019t feel as though they are using multiple systems, instead having one seamless digital experience<\/a>.<\/p>\n Utility X, a large electric utility company with multiple subsidiaries, wants to provide customers with an engaging marketplace to purchase smart thermostats, water-saving products, EV chargers and other related products.<\/strong><\/p>\n They already have an enterprise-approved hosting environment and billing solution but are open to alternatives. They will use a third party for order fulfillment and management. They have considered both building their own front-end web solution or using existing all-in-one platforms, including industry-tailored solutions or popular eCommerce platforms such as Shopify.<\/p>\n If we approach this scenario from the build approach, here are a few of the common pros and cons: <\/span>\n While it would be simple to say one approach is better than the other, in this case, that would be incorrect. In this situation, both options have valid pros and cons. The best approach for Utility X will depend on the findings from the discovery phase of the project, whereby they will uncover factors such as success criteria, feature requirements, resource availability, vendor evaluation and so forth.<\/strong><\/p>\n![\"Utilities](\"https:\/\/centricconsulting.com\/wp-content\/uploads\/2023\/05\/Blog_EU_Buy-vs-Build_03_Build-Approach.png\")
<\/a><\/p>\n![\"Utilities](\"https:\/\/centricconsulting.com\/wp-content\/uploads\/2023\/05\/Blog_EU_Buy-vs-Build_04_Buy-Approach.png\")
<\/a><\/p>\nIs There a Middle Ground for Utility Software Development?<\/h2>\n
Building Utility Software in Practice<\/h2>\n
Pros<\/h3>\n
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Cons<\/h3>\n
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Conclusion<\/h2>\n Whether to build or buy software is a complex decision that requires considering numerous factors. <\/span> While building software provides you with the highest level of flexibility and control, it requires investing in planning, time and budget. While buying software may save time and expense, it can limit your platform\u2019s scalability and features.<\/p>\n