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Expertise

EXPERTISE

Reasons to Buy Rather than Build Internally

Many technology companies have developed Return on Investment (ROI) tools, but few actually meet the company's goals. Considering the effort and cost expended in creating internal tools, why have the efforts failed? There are two main problems with internally-built sales tools. The first is that that the tool is not built to be user-friendly. The second is that it has reduced credibility in the eyes of the client. CIOview has two solutions to these problems:

User-Friendly Software- A high level of confidence comes when the sales person has a clear understanding of the tool. Often, internally-built tools lack the important user-friendly aspect. With CIOview, there is no black box, so the salesperson has a clear understanding of how each tool works. When pitching, this level of comfort shows through in the "believability" factor, which comes from helping the prospect understand how the data drives the tool.

Independent Third Party Credibility - A tool developed internally by a vendor immediately creates suspicion for the client. If the tool returns unexpected data, it loses even more credibility. CIOview's tools have distinctive third party credibility, so there is no suspicion. ROI tools need to be CREDIBLE, OBJECTIVE and INDEPENDENT by nature to offer any real value. CIOview has built these principles into its tools.



Issues with Internally Built Tools: CIOview's Value
Model : Objective
Data : Independent
Employees' Time : Available for other projects
Poor ROI knowledge : Using CIOview's tools transfers the ROI best practices
Software : Purpose-built inference engine
Time-to-market : 45-60 days
Research : Qualified team provided
Release & Update : Automatic via Web
Business Case Report : Provided with white paper content
Localization : Worldwide data, including Japan & China
Data maintenance : Regularly provided
Project risk : Very low
Accounting standards : GAAP with local tax accounting

Costs for in-house built projects can quickly escalate. Below is a list of internal development costs which would be eliminated by using CIOview software.

Research

  • Conducting Research
  • Extensive Data Collection

Project Management

  • Model Development
  • Validation
  • Training
  • Evaluation

Software Development

  • Software Model creation
  • Software Designer tool creation
  • Software Player/Module creation
  • Internationalization
  • Localization of data
  • Country-specific version creation
  • License monitor
  • Web development for online version
  • User-Interface Design
  • Testing
  • Roll-out

 

Additional Expenses

  • Ongoing Maintenance
  • Software upgrades
  • Benchmark data updates
  • Product changes
  • Pricing changes
  • Auto-update facility
  • Opportunity Cost
  • Employees time that could be deployed better elsewhere, i.e. completing projects that have a resale value

These are statements from internal surveys by IT vendors on the use of our tools:

"Basically the tool boosts sales, reducing the sales cycle and makes the prospect a lot less price sensitive"
-Sales Manager

"Our sales people are not going in with PowerPoint anymore, they are using this (ROInow!) instead"
-Field Ops Manager

"The software was key in a $4m deal"
-ROI Program Manager

"I'm now in a dialogue about ROI with a CEO who would not return my calls previously"
-Sales Rep.