To Build In-House or Outsource …That Is the Question!
April 26, 2015
I sat in on a most interesting session at the SISO CEO Summit in USA last week. The “Big Guns” were on stage - Mike Rusbridge Chairman Reed Exhibitions, Joe Loggia CEO UBM / Advanstar, David Kieselstein CEO Penton - all discussing their strategies to increase attendance at their events.
Not surprisingly, they are investing heavily developing in-house technology to assist in this strategy. What shocked me was the amount of money they admitted to investing – on average 5% of revenue – annually!
That’s the problem with technology. You can’t just develop a tool and let it sit. You have to keep maintaining it, upgrading it and enhancing it otherwise it is out-of-date from the day you finish the project. Although in-house developed software may work well for a while, it will become defunct in a few years unless you continue to spend more money on developing it.
Commercial software has the benefit of being extensively tested and used by other businesses. This can make for a quicker and smoother integration. In a fast-paced business world, this can save valuable time so you can get back to what’s important…running your shows!
Not every exhibition organiser has the financial means of a company like these big international giants to invest in software development, and even if you do, do you really want to jump down that rabbit hole?
Ray Kurzweil, inventor & futurist: An analysis of the history of technology shows that technological change is exponential…So we won't experience 100 years of progress in the 21st century—it will be more like 20,000 years of progress (at today's rate).
So how do you figure out how much it is going to cost you to develop something in-house or license to a third party? A company called ComponentOne Studio put together a simple free ROI calculator that helps determine whether you should build or buy.
Technology is currently changing faster than ever before with transformations happening exponentially. Third party event technology vendors are devoting time and money in keeping their platforms relevant so that you don’t have to. And as Mike Rusbridge said, “If you’re not digitally enabled it will soon be game over.”
How much are you spending on developing technology in-house?
Partner Voices
Overview:
The award-winning Orange County Convention Center (OCCC) goes the extra mile to make every day extraordinary by offering customer service excellence and industry-leading partnerships. From their dedicated in-house Rigging team to their robust Exhibitor Services, The Center of Hospitality brings your imagination to life by helping you host unforgettable meetings and events. With more than 2 million square feet of exhibit space, world-class services and a dream destination, we are committed to making even the most ambitious conventions a reality.
In October 2023, the Orange County Board of County Commissioners voted to approve allocating Tourist Development Tax funding for the $560 million Phase 5A completion of the OCCC. The Convention Way Grand Concourse project will include enhancements to the North-South Building, featuring an additional 60,000 square feet of meeting space, an 80,000- square-foot ballroom and new entry to the North-South Building along Convention Way.
“We are thrilled to begin work on completing our North-South Building which will allow us to meet the growing needs of our clients,” said OCCC Executive Director Mark Tester. “As an economic driver for the community, this project will provide the Center with connectivity and meeting space to host more events and continue to infuse the local economy with new money and expanding business opportunities.”
Amenities:
The Center of Hospitality goes above and beyond by offering world-class customer service and industry-leading partnerships. From the largest convention center Wi-Fi network to custom LAN/WAN design, the Center takes pride in enhancing exhibitor and customer experience.
The OCCC is the exclusive provider of electricity (24-hour power at no additional cost), aerial rigging and lighting, water, natural gas and propane, compressed air, and cable TV services. Convenience
The Center is at the epicenter of the destination, with an abundance of hotels, restaurants, and attractions within walking distance. Pedestrian bridges connect both buildings to more than 5,200 rooms and is within a 15-minute drive from the Orlando International Airport. The convenience of the location goes hand-in-hand with top notch service to help meet an event’s every need.
Gold Key Members
The OCCC’s Gold Key Members represent the best of the best when it comes to exceptional service and exclusive benefits for clients, exhibitors and guests. The Center’s Gold Key memberships with Universal Orlando Resort, SeaWorld Orlando and Walt Disney World greatly enhance meeting planner and attendee experiences offering world-renowned venues, immersive experiences and creative resources for their events.
OCCC Events:
This fiscal year, the OCCC is projected to host 168 events, 1.7 million attendees, and $2.9 billion in economic impact.
The Center’s top five events during their 2022-2023 fiscal year included:
AAU Jr. National Volleyball Championships 2023
200,000 Attendees
$257 Million in Economic Impact
MEGACON 2023
160,000 Attendees
$205 Million in Economic Impact
Open Championship Series 2023
69,500 Attendees
$89 Million in Economic Impact
Sunshine Classic 2023
42,000 Attendees
$54 Million in Economic Impact
Premiere Orlando 2023
42,000 Attendees
$108 Million in Economic Impact
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