The asset management software dilemma: Develop in-house or buy off-the-shelf?
You've decided to move beyond spreadsheets and invest in an integrated asset data system to gain better control and visibility over your renewable energy assets. But that’s just the beginning. The next challenge is determining the best path forward: Should you purchase off-the-shelf software, or invest the time and resources to develop a system in-house? Both options have their pros and cons.
A third option
There’s also a third, innovative approach—a platform that lets you get started quickly while maintaining control, without the need to build a software solution from scratch.
This approach is now part of Kraken's offerings, following its acquisition of a platform originally developed to address the frustrations faced by renewable energy companies needing more robust digital architecture. Now integrated into Kraken’s broader suite, this solution offers the best of both worlds.
| Off the shelf | Develop in house | Kraken |
|---|---|---|
| ✅ Move fast: Get started without delay. | ✅ Bespoke: System matches your exact needs. | ✅ Rapid: Up and running in weeks. |
| ✅ Certainty: Fixed cost and functionality. | ✅ Data: Direct data access. | ✅ Fully modular: Choose from suite of specialist modules. |
| ❌ Scope: Can it do everything you want? | ✅ IP: You own it. | ✅ Custom: Create bespoke dashboards tailored to your needs. |
| ❌ No control: You may have to wait for new features. | ❌ High risk: Development projects are difficult and expensive. | ✅ Control: Direct access to your valuable data. |
| ❌ Where is my data? Access may be limited. | ❌ Delay: It could be years before it is fully functional. | ✅ Trusted: Advanced technology built on sector expertise. |
| ❌ Locked-in: Don't underestimate software maintenance and support. | ❌ No silver bullets: Deploying the right system requires time and effort. But it's easier with an experienced partner. | |
| ❌ Opportunity cost: What else could you be investing in? |
A simple, modular platform
Kraken offers a simple and intuitive system that handles the essential aspects of asset management: projects, equipment, ownership, roles, and more. This platform can be quickly deployed and populated, giving you the flexibility to develop the system further according to your needs.
You can select from a wide range of powerful asset management modules—such as KPIs, contracts, HSE, and task management—designed by experienced industry professionals. Kraken works closely with you to transform your ideas into custom modules that integrate seamlessly with the existing system.
Take control
For those with basic coding skills, Kraken also provides the tools and training needed to create bespoke applications and dashboards. Many clients have embraced this capability, allowing them to extend and customize their systems independently.
This approach reduces dependency on software developers and mitigates the associated risks. It also ensures that you control the system’s development at every step, avoiding the high costs typically associated with full-scale custom builds.
A core principle of Kraken’s approach is that you maintain full control over your data. The system can be hosted in your cloud environment, and Kraken facilitates open data access through APIs or direct database connections.
This flexibility addresses a common issue with off-the-shelf software, where raw data access is often restricted, and database connections are not allowed. In such cases, companies may be forced to rely on inefficient and insecure methods, such as receiving data via email.
Re-think and reap rewards
Kraken’s innovative third-way approach empowers companies to develop tools that leverage their unique expertise, creating valuable intellectual property. You only implement the system components that add value to your operations, while retaining complete control over your data. It’s a faster, less costly, and lower-risk method of system development, enabling companies to rethink how they digitize their operations.
