The Eternal Question of whether to buy or to build your software
Summary
If you view a problem in isolation and treat it as such, establishing budgets and issuing RFPs for each CRM, Fincrime, Client Outreach component, you will end up with spending more resources trying to integrate everything together than any potential saving that was initially hoped for. Now apply that for every region or line of business that might get separate budgets and oversight and you will end up with 8 versions of the same software that needs to be integrated with itself due to heavy customization per area eliminating any economies of scale they could achieve. Whether you have a single source of truth/Golden Copy or multiple redundant and competing records and systems that can update them, you will still find yourself in another layer of requirements based on line of business, jurisdiction, client types and products/services. The tech market is full of innovators who gladly satisfy every niche problem that can be thought of but at what point does it stop making sense to have ‘off the shelf’ products that all need to be coustomized and integrated with each other instead of building it yourself. The best of both worlds is a low code platform that others have also built reusable components for so you can get the ‘off the shelf’ products as accelerators for your business while also having the ability for your staff or certified 3rd parties to build the rest of the requirements specific to your organization.