Tips for Choosing the Right Software Strategy for Your Business

As a business owner, you make decisions every day. Some are relatively minor, such as updating a marketing brochure, while others can have a lasting impact on your organization’s growth, performance, and long-term success. 

An example of a long-term business-shaping decision is the focus of today's blog as we review the latest thought-leadership article penned by LigoLab CEO Suren Avunjian for Forbes Business Council (linked below).

Read Suren’s Article Here: How to Choose the Best Software Strategy for Your Business 

Choosing the Right Software, Step One

In his latest article for Forbes Business Council, Avunjian begins by making it clear that for a business with multiple departments, workflows, and products, choosing the right software strategy is anything but straightforward. Instead, it requires nuance, research, and forward thinking.

"A complex business typically must employ multiple software solutions to cover all facets of business operations." 

- Suren Avunjian, LigoLab CEO

Avunjian recommends researching the available options as a first step toward filling your business software needs. He suggests reading reviews and testimonials to learn about solutions that have worked well for comparable companies and which would be a good fit while also remaining within budget constraints.

Avunjian believes that this research will lead to a choice between two distinct software strategies. 

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Best-of-Breed and Best-of-Suite, Defined

Next, Avunjian introduces and defines the two most common software strategies that a business can deploy to satisfy its unique needs.

Best-of-Breed: A software strategy that relies on multiple vendors, with each providing a specialized application designed to support a specific area of the business. 

Best-of-Suite: A software strategy that partners with a single vendor with a comprehensive, all-in-one platform designed for multiple areas of the business. 

Discover More: The Best LIS Systems are Comprehensive and Laboratory-Specific

Best-of-Breed Advantages 

After defining both options, Avunjian next dives deeper into the best-of-breed advantages. They include vendor expertise, vendor flexibility, user experience, advanced features, and scalability.

"Best-of-breed software applications are often more scalable than all-in-one solutions. This enables your business to add or replace a specific application as needed without having to overhaul the entire system." 

- Suren Avunjian, LigoLab CEO

Best-of-Suite Advantages

Avunjian also highlights the key best-of-suite advantages, including simplified vendor management, seamless workflow integration, a unified application experience, powerful analytics, and strengthened security.

"Best-of-suite solutions are designed to work seamlessly together with other applications within the suite, eliminating potential barriers between solutions and providing users with a consistent interface and familiar experience as they move from one module to another." 

- Suren Avunjian, LigoLab CEO

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Additional Considerations to Weigh

So which software strategy represents the best fit for your business? 

Avunjian suggests that the overarching philosophy of your business is one of several other factors to consider.

He writes that if your business is looking for a best-in-class software solution that's highly specialized and you don't mind working with multiple vendors and systems, best-of-breed may ultimately be the right choice, even if that means managing these various systems will require more effort and resources going toward integration, maintenance, and compatibility issues.

On the other hand, if your business would benefit more from a comprehensive, unified solution that excels in areas such as integration and analytics, the best-of-suite option may represent the best way forward, even if you may miss out on having the top-performing option for a specific function.

Avunjian concludes that both software strategies have their pros and cons, and choosing the right software strategy for your organization should be based on your business's priorities and requirements.

Industry Insights: Bridging the Gap in Modern Laboratories - Why a Comprehensive Digital Platform Outperforms a Basic Lab Information System

Read Other Suren Avunijan Articles

Avunjian is a highly sought-after voice in the lab industry and a regular contributor to the Forbes Business Council.

He brings together firsthand experience as a laboratory chief technology officer with the business expertise gained from two decades of leading LigoLab, a provider of enterprise laboratory information system (LIS) and laboratory billing solutions designed to help clinical laboratories and pathology groups streamline operations and scale for growth. 

Avunjian has a talent for transforming complex business topics into clear, engaging, and insightful thought leadership content. 

Here's a sampling of his previous contributions to Forbes Business Council:

• Enhancing Patient Care With Electronic Health Records And Laboratory Information Systems
• Reducing Medical Waste And Cost With Just-In-Time Testing
• The Impact Of Current Technology On The Future Of Medical Laboratories
• Funding Versus Bootstrapping For An Enterprise Software Company

About the Author

As a Co-Founder and Chief Executive Officer at LigoLab, Avunjian oversees all business growth and operations for the information systems and data management company while leading a team of best-in-class personnel. He's also the creative force behind LigoLab's strategic vision to build the most comprehensive and infinitely configurable laboratory information system software backed by unlimited, unmatched customer service.

LigoLab: The Unified Platform Driving Operational and Financial Transformation for Labs

LigoLab is an enterprise-grade informatics platform purpose-built to empower clinical, anatomic pathology, molecular, and reference laboratories with a unified laboratory information system software ecosystem that connects operations, laboratory billing (lab revenue cycle management), and outreach under one roof. 

Unlike fragmented, multi-system environments, LigoLab provides a single source of truth, seamlessly combining LIS, RCM, and direct-to-consumer lab testing modules to support every phase of the diagnostics and revenue lifecycles.

From specimen accessioning to final report delivery, the platform automates workflows, enhances compliance, and improves accuracy through configurable rules, an automation engine, embedded quality assurance, and deep analytics. 

With an advanced interface engine, LigoLab also seamlessly interfaces with EHRs, instruments, the latest digital pathology solutions, and third-party apps, enabling labs to scale services without operational bottlenecks.

Moreover, the platform transforms lab revenue cycle management by eliminating billing silos, automating coding and claim submission, and reducing denials through real-time verification, audit prevention, and payer-specific logic. The result is faster reimbursement, higher collections, and greater financial visibility.

Designed for flexibility, scalability, and innovation, LigoLab offers unlimited seats, modules, and cloud or on-prem deployment, giving labs the agility to grow, diversify, and adapt in today's competitive healthcare environment.

Ready to Unlock the Full Value of Your Laboratory?

Whether your business leans toward a best-of-breed or best-of-suite approach, a unified platform like LigoLab can simplify operations, laboratory billing, and outreach under one roof.

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Frequently Asked Questions About Choosing a Software Strategy

What is the difference between best-of-breed and best-of-suite software strategies?

Best-of-breed means partnering with multiple vendors, each providing a specialized application for a specific part of the business. Best-of-suite means partnering with a single vendor that provides a comprehensive, all-in-one solution covering multiple business functions.

What are the main advantages of a best-of-breed strategy?

Best-of-breed advantages include vendor expertise, flexibility, strong user experience, advanced specialized features, and scalability, since a business can add or replace a specific application without overhauling the entire system.

What are the main advantages of a best-of-suite strategy?

Best-of-suite advantages include simplified vendor management, integrated workflows, a consistent user experience, advanced analytics, and stronger security, with all applications designed to work together seamlessly within a unified platform. 

How should a business decide between the two strategies?

The right choice ultimately depends on a business’s strategy and priorities. Organizations seeking highly specialized, best-in-class tools and willing to manage multiple vendors may favor best-of-breed, while those prioritizing seamless integration, a unified experience, and robust analytics may find best-of-suite the better fit. 

Are there tradeoffs to each software strategy?

Yes. Best-of-breed requires more effort and resources for integration, maintenance, and compatibility across systems. Best-of-suite may mean missing out on the single top-performing tool for a specific function in exchange for a more unified, easier-to-manage system.

Who wrote the original article this strategy guide is based on?

Suren Avunjian, Co-Founder and CEO of LigoLab, wrote the original thought-leadership piece for Forbes Business Council, drawing on his experience as a former laboratory chief technology officer and 20 years of leading an enterprise LIS system and laboratory billing company.