Share to Twitter Share to Linkedin Founder and CEO of Artisan , an innovation consultancy supporting global leaders with technology strategy and solution services. It’s a common misconception that buying software is cheaper than building it. In reality, the true TCO (total cost of ownership) for a software solution—whether custom-built or out of the box—depends on many factors. While capital investment is an important consideration, it often ends up as a wash when considering all components of a build-versus-buy decision. Ultimately, business value (more than TCO) should drive technology investment decisions. Gartner predicts that enterprise software spending will exceed $570 billion worldwide this year. The percentage of that capital spent on custom versus pre-packaged solutions is largely irrelevant. What matters is whether the technology solutions requiring such significant investments are driving business value or hindering it. … [Read more...] about Build Versus Buy: Thinking Beyond Total Cost Of Ownership
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TikTok, Facebook & Generation Alpha Will Shape The Future Of Social Shopping
Share to Twitter Share to Linkedin They are the most popular mobile apps in the world. The odds are that you have several of them on your phone that you most likely check on multiple occasions throughout the day. Social media apps are undoubtedly the most ubiquitous apps in smartphone history. Recent statistics show they are the most used and installed apps in the world. Facebook has a colossal 2.9 billion monthly average users. For Instagram, that figure is 2 billion, and TikTok — the fastest-growing social media platform — has no fewer than a billion MAUs. Even more impressive than the global number of people regularly using these platforms is how long each person spends on them. On average, internet users spend just shy of two and a half hours every day on social media, amounting to around 75 hours a month. With these figures in mind, it was perhaps inevitable that e-commerce would be incorporated into these platforms. After all, why limit users by only allowing … [Read more...] about TikTok, Facebook & Generation Alpha Will Shape The Future Of Social Shopping
14 Valuable Lessons Smaller Tech Companies Should Learn From Big Tech’s Example
Share to Twitter Share to Linkedin The Big Tech companies—such as Google, Meta, Microsoft, Apple and Amazon—are frequent subjects of headlining news stories, both for reasons they’re proud of and for occasional blunders. All this attention on these industry giants isn’t just valuable (or embarrassing) press attention for them—it’s also an ongoing, practical learning experience for smaller companies. Keeping on top of and learning from the high-profile “lessons” Big Tech provides on topics ranging from the user experience to data protection can be a boon for smaller tech companies navigating a highly competitive industry. Below, 14 members of Forbes Technology Council share both clear and less obvious lessons every tech company can learn from Big Tech. 1. Constantly Measure Customer Impact Most startups work in an ad hoc way, in which features are developed based on intuition. Conversely, big companies measure every decision based on its customer … [Read more...] about 14 Valuable Lessons Smaller Tech Companies Should Learn From Big Tech’s Example
How the Pandemic Is Reshaping Food and Beverage Innovation
The Summer Fancy Food Show in New York City returned in June for its first in-person event since 2019, a return that spotlighted the changes in tastes and behaviors created by the pandemic. The food and beverage industry trade show, organized by the Specialty Food Association , featured more than 1,900 exhibitors across a spectrum of food categories --from cured meats and cheeses to olive oil and sweets and exotic items such as gourmet bananas Foster bonbons ... and sections dedicated to cuisines of countries like Greece and Japan. With continued pandemic perturbations and murmurs of a recession ahead, here are some of the trends that emerged: 1. Convenience still conquers all Consumers prioritized both convenience and comfort during the pandemic, and that sentiment continues to grow. Hybrid and remote work has made e-commerce, delivery, and curated assortments an even bigger part of the convenience trend, according to the SFA's most recent State of the Specialty … [Read more...] about How the Pandemic Is Reshaping Food and Beverage Innovation
First Solar rejects US site for new factory, eyes Europe or India instead
- A + A NEW YORK (June 29): First Solar Inc has decided against building a new factory in the US, citing uncertainties regarding trade policy and tax incentives. The biggest US solar manufacturer is still planning a manufacturing facility in either Europe or India, and Chief Executive Officer Mark Widmar expects to make a final decision within 90 days. That would come after the company completes a third US plant early next year in Ohio and its first factory in India in the second half of 2023. The decision is a setback for US President Joe Biden’s efforts to boost domestic solar manufacturing. Solar installations have slowed this year amid a US Commerce Department trade investigation, raising the prospect of tariffs on panels imported from four Southeast Asian nations. While the White House announced this month a two-year moratorium on new tariffs and took steps to encourage American production, Widmar said the moves don’t address underlying issues that give … [Read more...] about First Solar rejects US site for new factory, eyes Europe or India instead
US economy contracts in Q1; outlook murky as unsold goods accumulate
- A + A WASHINGTON (June 29): The US economy contracted slightly more than previously estimated in the first quarter, as the trade deficit widened to a record high and a resurgence in Covid-19 infections curbed spending on services like recreation. The Commerce Department's third estimate of gross domestic product on Wednesday also showed some underlying softness in the economy, with consumer spending revised lower and inventories higher than reported last month. This is a potential red flag for domestic demand and the economic outlook amid recession jitters, as the Federal Reserve aggressively tightens monetary policy to tame inflation. Fed Chair Jerome Powell told a European Central Bank conference on Wednesday that "there is a risk" the US central bank could slow the economy more than needed to control inflation. "The biggest effect from this report is that it leaves inventories in a more overbuilt position than previously thought, putting second-quarter GDP … [Read more...] about US economy contracts in Q1; outlook murky as unsold goods accumulate
Amazon Turns To Technology To Help Small Business Deal With Intellectual Property Challenges
Share to Twitter Share to Linkedin The Intellectual Property (IP) and patent landscape are incredibly complex. There are rules and regulations for different types of products, designs, and trade secrets differing by country and region. It takes years to develop unique products and bring solutions to market to consumers, with a tremendous amount of IP involved. This is why it’s crucial for everyone — especially for smaller companies — to have the resources in place to protect their property and in some cases even their livelihood. Intellectual property and patents are some of a company’s most important assets in today’s business climate. But these assets could be under threat from competitors, hackers, and other bad actors. For the tech giants that have an army of litigators and resources at their disposal, fighting patent infringement or IP infringement lawsuits is par for the course, but smaller companies often don’t have the luxury to go through a … [Read more...] about Amazon Turns To Technology To Help Small Business Deal With Intellectual Property Challenges