Build or Buy Staffing Technology

Are you contemplating a technology upgrade for your staffing business? One pivotal question emerges: should we embark on developing our own software or opt for a SaaS (Software as a Service) solution? Let's delve into the advantages and drawbacks of each, alongside my recommendations.

Building Our Own Staffing Software:

Pros:

1. Tailored Precision: Custom-built software ensures precise alignment with your business needs, eliminating the necessity to adapt processes to fit the technology.

2. Competitive Edge: With a stellar product team, internally developed technology can furnish you with a competitive edge. For instance, streamlining the application process, timecard submissions, and payroll can elevate the experience for your candidates.

Cons:

1. Elevated Costs: Developing proprietary software typically incurs higher costs, potentially amounting to millions for development, hosting, and ongoing maintenance. Furthermore, technology evolves rapidly, necessitating continuous investments for updates and enhancements.
   

Purchasing a Software as a Service Solution:

Pros:

1. Cost Efficiency: This option is notably more affordable, especially for small staffing firms. Once configured, the vendor handles software updates and hosting.

2. Service Level Agreement: The vendor provides a Service Level Agreement for prompt resolution of any technology issues within the agreed timeframe.

Cons:

1. Configured Solutions: The solution may not encompass all the features you require, so it's imperative to list all necessary features during the purchasing process.

2. Scalability Costs: As your business expands, the cost of the SaaS solution will escalate since charges are typically per license/user.
   

My Recommendations for new staffing technology:

The optimal choice hinges on the scale of your business. For small to medium-sized enterprises, I recommend purchasing the solution. Given the less complex requirements and a plethora of staffing technology vendors catering to smaller businesses, this option is prudent. As your business evolves into a larger entity, deliberating on the viability of building your own software becomes pertinent. This entails hiring a technology department to spearhead implementation and manage the future roadmap."