Johna Till Johnson’s Post

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CEO, Nemertes Research

For #financialfirms, which is better, #opensource or proprietary software? JERALD MURPHY and I discuss the topic on this week's episode of #FinServeTechOracles. The answer may surprise you... nah, it won't!! 🤣 It's the classic consultant response: "It depends". Specifically, it depends on your company's size, goals, competitive differentation, and appetite for risk. But, the big takeaway is that there's no perfect answer, other than to avoid absolutism wherever possible. "We only use proprietary software", "We only use open source", and "We only write our own code" are all stupid stances if held to from an absolutist perspective. Best to think of your software strategy as a "balanced portfolio", with a mix of off-the-shelf, open-source, and home-grown that is aligned with your strategic goals and requirements.

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