I get many exciting opportunities to speak at various HRTech conferences across the globe. One of the key topics I discuss with other CEOs and HR professionals is strategies for achieving incredible future growth.
You always have a choice when you want to bring a remarkable change in your business. And you always have three options available: Build, Buy, Partner.
Let’s analyze this concept.
Build vs. Buy vs. Partner
Build
Build is the first option every company explores while working on its growth. When you choose this option, you create a solution with your resources, control, and talent.
Go for this approach when:
- You have all the required resources and skills
- You want to own this strategic competence
- You can do it quickly and at a low risk
However, this option might demand additional resources and capital, and may also result in a long time to go to market.
Buy
In this approach, the company buys complete or a part of a third-party solution. You can also buy a technology platform and build your solution.
Go for this approach when:
- You do not have the required resources and skills to build
- There are third parties who can do it better and faster than you
- You have less time, and you want to go to market faster
However, with this option, you have no control over the development process.
Partner
Another successful approach is partnering with a company that can help you achieve your goal. You can integrate with another service provider and offer a joint solution.
Go for this approach when:
- Both the parties do not have the complete offerings to go to market
- Each party has specialized knowledge or technology
- You want to explore new opportunities with less cost, risk and time
Enhance the Power of Your Recruitment CRM with Build or Partner Concept
Some people really want to shorten their go-to-market strategy, but there are a few exceptions who partner with the right solution to speed up their strategy.
It is a fact that an ATS/CRM helps you in hiring the right Gen Z candidate.
But how can you enhance its functionality with this beautiful concept?
Let me give you an example.
Do you know how Microsoft brought its MS-DOS operating system to the market?
Microsoft was just a startup at that time. So, it partnered with IBM to sell MS-DOS on its PCs. IBM sold its PCs with MS-DOS already installed in them. I would like you to notice that Microsoft had the best of technology while IBM had a large distribution system across the globe. And the offer they introduced to the market was a big hit.
Also Read: The Future of HR Tech Marketplace is HERE!
A major challenge an ATS/CRM faces is the time required to integrate with a new partner.
On average, an ATS spends 11 months to get one integration. By the time the integration is done, you lose your place as a category leader.
Imagine if you could find a platform where you can integrate API within 15 minutes instead of seven hours!
Isn’t it exciting?
Partnering with the enrichment marketplace can fulfill this dream.
Enrichment marketplace is a unified platform for data connectors and CRM/ATS, where end users can enrich their data.
You can create your own marketplace and use multiple data providers in a single integration.
What’s more?
The platform provides 1000+ use cases for end-users.
Are you interested in knowing how the enrichment marketplace can speed up your go-to-market strategy? Give me a shout.
Source: http://bit.ly/39NYaeJ