Campus Financial Systems for the Future

Sidebar: Buy, Build, or Partner?

Key considerations for a "buy" decision
Outdated systems creating the need for a "quantum" leap in functionality Unstable systems or impending systems crisis Insufficient staff resources to build or partner to build a system from scratch and/or resources needed for other projects Ability to adjust institutional needs and priorities to match available vendor solutions Time frame for completing implementation too aggressive to be met by internal development A need for a set of integrated administrative systems Affordable costs for maintaining and supporting purchased systems Manageable gap between campus vision and off-the-shelf vendor solutions Good experience levels in managing vendor relationships Major advantages of this approach are (1) access to vendor expertise in the implementation effort and in providing ongoing support for users and ongoing enhancements to ensure technological currency; and (2) access to other users' solutions to business process problems with a widely used, proven product.
Key considerations for a "build or migrate in-house" decision
Satisfaction with the functionality of existing systems Stable legacy systems and no impending systems crisis High-priority functionality not available in current or near-term future vendor offerings Availability of business staff needed to partner with IT staff to redesign systems Availability and enthusiasm of adequately skilled staff for assignment to the project Campus technology infrastructure, architecture, and strategy in place suitable for new systems development A clear understanding of the distribution of project responsibilities (project management, resource allocation, setting of project priorities, and so forth) A method for ensuring "best practice" and a strategy to limit scope creep A major advantage of this strategy is the ability to provide specific functionality required and thus to more readily satisfy needs that will allow campus-driven business process changes (i.e., having it your way).
Key considerations for an external "partner" decision
High-priority functionality not available in current or near-term future vendor offerings Some development capacity on staff, but lack of enthusiasm for total reliance on continuing in-house expertise for core systems Vendors and/or other institution(s) interested in and available to form partnerships (vendors willing to make a commitment, other institutions with similar high-priority needs requirements who are willing to compromise/collaborate on solutions) and manageable timing and geographical considerations Viable support structures that can be put in place to maintain product after implementation Feasible financing strategy Appropriate degree of technical compatibility among institutions or technical skills of vendor/consultants A major advantage of this strategy is the ability to provide most of the required functionality and at the same time share resources and tap into the expertise of a wider range of professionals. See Chapter 6, Acquiring the System, for a discussion of additional considerations, with a focus on success factors, related to the alternative strategies for acquiring a financial system, especially in the post-decision, acquisition phase.

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