At the IPMI24 Expo & Conference in Columbus, OH, I attended the engaging panel titled "How to Mitigate Risk with a Multi-Vendor Approach to Your Mobility Tech Stack" featuring industry experts Bob Murray from Campusparc, Liz Young from FAAC Parking Solutions, Ethan Glass from Ocra, and Jordan Weiss from Umojo as moderator. The discussion highlighted the evolving landscape of mobility technology and emphasized the importance of strategic integrations over the now outdated "one-stop shop" approach.
Liz Young set the tone by advocating for innovation within organizations. She stressed the importance of humility and the need for companies to recognize that they cannot excel in all areas alone. "Keeping everything in-house often disadvantages the customer," she noted, urging for strategic partnerships that deepen integrations and bring real value to end users. The panel agreed that for instance, municipalities dealing with various data systems benefit significantly when vendors facilitate data sharing, making interoperability a fundamental expectation.
Bob Murray outlined two strategies for managing a multi-vendor ecosystem: designating a lead vendor or cultivating internal talent capable of orchestrating the integrations. Ethan Glass added that in the first scenario, vendors must assist customers in navigating the ecosystem, providing a singular source of truth for seamless operations. This collaborative approach ensures the technology addresses real issues effectively.
The conversation also touched on the dynamic nature of technology. Liz warned that current solutions might be obsolete in five years, highlighting the need for forward-thinking strategies that anticipate and evolve with customer needs. Bob echoed this sentiment, emphasizing the importance of cultural alignment between vendors and clients to build robust, lasting partnerships.
When discussing the practicalities of implementing multi-vendor solutions, the panel acknowledged the challenges. Liz pointed out that "integration" often means different things, ranging from basic data exchange to deep, seamless integrations. She stressed the importance of clearly documenting the project’s theory of operation and expectations to avoid misunderstandings. Moreover, the rigidity of some RFP processes can stifle innovation, with yes/no answers limiting dynamic solutions.
Audience questions revealed concerns about data ownership and the complexities of data sharing agreements. Liz and other panelists underscored the necessity for customers to retain ownership of their data and to ensure that all contracts reflect this.
The panel concluded by discussing industry trends, such as the acquisition of companies and the resultant internal competition. Bob noted that while acquiring best-in-class vendors can enhance offerings, it also creates integration challenges as former competitors may be reluctant to collaborate, ultimately disadvantaging the customer.
In summary, the panel at #IPMI2024 underscored that a multi-vendor approach, when managed strategically, can drive innovation, improve customer outcomes, and mitigate risks. By fostering deep integrations, ensuring data ownership, and anticipating future needs, organizations can navigate the complexities of the modern mobility tech landscape effectively.
