Whether to purchase or rent
Does it make sense to purchase a tool that will spend most of its useful life hanging gloriously on the wall of your workshop making neighbors and friends jealous? After careful consideration of the number of projects, how long each project may take, and daily rental costs, purchasing the nail gun makes the most sense.
Will the nail gun save you time, money, or both?
The decision to forgo using a hammer was driven by an honest assessment of your marginal skills and the project size. You concluded that a nail gun saves time, is less exhausting, prevents bent nails, and is safer for your thumbs. Bottom line, the benefits outweighed the costs.
How the heck does a nail gun analogy tie into purchasing technology?
How do companies most often purchase technology?
Consider how most corporate technology purchase decisions are made. They are driven by a departmental need or issue. The need could be mitigation of a specific business risk, the desire to operate more efficiently, better reporting, to appear “cutting edge,” or a client requirement. Regardless of why the purchase decision was made, if its impact on the entire organization was not considered, it may prove counterproductive.
More tools does not equal improved productivity
Technology purchased piecemeal, and not as a component of an overall tech strategy, can negatively impact productivity. Perhaps the new technology makes the performance of a particular function more efficient, but at what cost?
Does the new tool result in additional data entry for others in the group? Will the data entry be redundant with other tools already in use? Is the new technology intuitive for users or are there so many features and functions that it is overwhelming to those who did not participate in the vendor presentations?