Tips to Choose the Right Technology Partner This Year (and Avoid Buyer’s Remorse)

According to Gartner’s latest research, more than half of all manufacturers intend to increase spending on technology in 2024. Their focus: business intelligence and analytics. It’s clear that there’s a push to sharpen the competitive edge, and the whetstone in which to sharpen that edge is data.

Yet far too many manufacturers experience ‘buyer’s remorse’ when it comes to technology purchases. After investing time, resources, and money into large enterprise-wide technology, they find it’s not doing exactly what they want or need it to. In the previously cited report, 48% of manufactures state that implementation issues, cost, and insufficient functionality all add to their frustration and buyer’s remorse.

So what’s the solution? We have some pointers for manufactures looking to invest in smart technology in 2024. Whether you’re looking for custom app development, systems integration, or new ways to get more from legacy systems, the following can help you avoid buyer’s remorse and feel confident in your decision.

1.????? Determine Goals

Establish the desired outcomes before embarking on a technology project. Identify the goals for the project, and further clarify them by establishing KPIs. Align the project goals to companywide goals, too.

2.????? Schedule Exploratory Calls

As you interview potential partners to tackle your project, discuss your goals with them. Many companies offer a complimentary call to help you clarify your goals and discuss possible ways to achieve them. rSTAR Technologies, for example, offers a free 30-minute roadmap call with experienced members of our team who can offer sound advice based on previous project experience. During these calls, we listen and ask plenty of questions to help you think through your goals and identify roadblocks as well as routes you may not have considered. These calls are a great way to get to know potential partners and understand their approach to your project.

3.????? Seek Creative Solutions to Update What You Have

If your company has invested heavily in its technology infrastructure, but your current platform isn’t supporting new goals, consider how it might be extended. We worked with a Fortune 500 manufacturer, for example, to extend their legacy Oracle ERP with microservices architecture and cloud native apps to achieve their CX and revenue goals. You may find that with the right partner and a creative approach to the problem, such as extending or adding to your existing tech stack, you can achieve more without a heavy lift and shift to a new platform.

4.????? Perform Supplier Due Diligence

Performing thorough due diligence is vital to ensuring the success of any technology project. Explore the vendor’s past performance, customer list, and any awards, accreditations, or certifications the vendor has with its partners. Look at how many years they have worked with the manufacturing industry and the potential technology under consideration. Don’t hesitate to ask questions or request references to ensure you’ve found the ideal partner.

Everyone experiences ‘buyer’s remorse’ from time to time. But with a major investment in technology, manufacturers should rarely feel the pang of regret when they update, upgrade, or change technology. Time invested on the front end of the project to identify and clarify goals, chart a clear roadmap, explore creative solutions, and perform due diligence is time well spent to avoid preventable regrets.