Tech report highlights lack of vendor knowledge
David Hampton
Apr 12, 2025
1 min read
The latest Reuters Insurance Global Technology Benchmarking Report discusses key challenges with vendors’ lack of industry understanding, products failing to live up to the hype and high implementation costs, along with delays. That’s why at BAIS we pride ourselves in having decades of insurance, technology AND insurance technology expertise that helps us deliver systems that work, without delays or cost blowouts. The report also highlights the rapid growth in adoption of generative AI – Stay tuned for what’s next here at BAIS.
A lack of vendor knowledge can create challenges for businesses when selecting technology and managing supplier relationships. Better training, clear communication, and proper research can help organizations make informed choices and improve overall efficiency.
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The lack of vendor knowledge can create challenges for businesses, especially when choosing technology solutions that meet their needs and budgets. Proper research and expert guidance can help organizations make more informed decisions and avoid unnecessary risks. For individuals planning their finances, mortgageline.ie is also a useful resource for exploring mortgage options and getting mortgage-related guidance.
The point about vendors understanding the industry makes sense to me. A polished demo doesn’t tell you how software will handle a messy working day. In another sector, I’d look at IndicaOnline for cannabis entrepreneurs with the same questions: can the vendor explain everyday workflows, and what support is available during setup? Those answers would matter more to me than a long feature list.
The report highlights how important it is for businesses to understand the technology they rely on. Having the right technical knowledge can also help when selecting hardware and checking PC power requirements for a reliable setup.
The report raises an important issue for businesses that rely on technology vendors. A lack of product knowledge can lead to poor decisions, delays, and unnecessary costs. Clear communication and proper technical understanding are essential before choosing or implementing any solution. For readers interested in planning their savings strategy, a CD Ladder calculator can also help compare different CD maturity schedules.