Build or Buy? That’s the question many leaders face when deciding what technology they should rely upon to build their business upon. At My Trio Rings, we invested in our own in-house technology team, in large part due to the need for custom products and experiences we knew were essential to providing a differentiated online shopping experience.
“We built our own eLayaway system to allow our couples to pay off their Trio Wedding Ring purchase over time. Invoicing tools we used in the past just didn’t provide the experience our couples needed to manage paying off their purchase. So we designed our own platform to allow them to schedule and manage weekly/bi-weekly/monthly schedules. Brick and mortar stores used to offer Layaway Programs, but now purchasing on eLayaway makes more sense because there’s no credit required.”The Next Web (March 14, 2016)
The Layaway tool we built at My Trio Rings has been a key factor to our success, in large part due to a gap in the payment options offered to consumers today. When it comes to the question of Building vs Buying technology, one must be weary of re-inventing the wheel and our decision to build our own tools was focused specifically on the opportunity to provide unique value add for our customers which couldn’t be provided by off the shelf solutions.