Invest in Your Own Platform Instead of Spending on External Products

In current times, rarely a business model can be built without having a technology platform as its backbone. Usually a business has two ways to get this platform. 

Option1. Ready Made Products

A business can decide to either purchase ready made products from one or more vendors, or subscribe to them in SAS model. There is a great variety of business software products available in the market, for each business function - CRM, Service Tickets, Workflows, Inventory, Procurement, Production, Accounting, Staff related functions and much more. These vary in not just the price range, but scope of functionality, usability, complexity of implementation. Examples can be as well known as SAP, Salesforce to unbranded small vendors. 

  • Primary Pros

    • Tried and tested software. 

    • Usually higher quality, especially if higher priced. 

    • What you see is what you get, as the product is ready already.

  • Primary Cons

    • May involve integrating multiple products from independent companies. Cost and effort involved.

    • Evolved products will be too complex for usability, with comprehensive features that may not even be used

    • May not be possible for small/medium businesses, to get features of choice built on demand, if needed for their unique business model.

Option2. Built From Scratch

Here a business builds a totally custom made platform, as per its business model. But this can be very expensive as well as time consuming, especially if built with quality. You can hire a team of designers and engineers to build this, or outsource one or more parts of it to some software company who can develop your platform.

  • Pros

    • You get a platform that is made for your unique business model

    • No cost for integrating or syncing up disparate third party systems

    • You build a technology asset, adds value to your business

  • Cons

    • Will take a long time for even an MVP (Minimum Viable Product) to validate your business model

    • It is a much higher effort in consolidating the software requirements, and the design thereafter

Option3. EQ Platform for Enterprises

EQTribe brings a unique model that sits between the two, and brings the benefits of both the approaches, to a large extent. Here are the primary benefits of building your own platform starting from EQ Platform and products.

  • EQTribe provides not just the software/products, but we will be your long term IT partners - assisting you in all technical aspects of your growing business.

  • Build your own platform, exactly as you want, starting upon EQ Platform

  • Get a jumpstart instead of writing from scratch. Faster time to go-live and validate the MVP/POC

  • All products integrated with each other - no integration costs or hassles

  • Build your platform, step by step, with EQ’s modular products. Invest as you need, as per your priorities.

  • Customize the base EQ platform as per your exact requirements, without spending upon products that may have many features that you don't need, and might be missing something that you need.

  • Create an asset which will take up your company valuation in front of VCs

  • Account this as an investment in your books instead of expense

  • You own the complete code, complete database, servers, etc. If you want you can start on EQ cloud to keep the initial cost low. Move when required

  • Dedicated developers for your account, will build your platform customised as per your requirements

  • Dedicated developers ensure best quality personalized support for your platform

  • EQ can also do digital marketing to bring customers and dealers on your platform

Related Topics

Customizations & Whitelabeling                EQ Platform for Your Enterprise                    EQ Platform Pricing                                 EQTribe Approach for Outsourced Product Development

Fixed Price Vs Time & Material                  What Is UX in Software?                                  What is Quality in Software?                   EQ Advantage                   EQ Team