A medium sized consumer durable manufacturing company outsourced all IT services including systems development, maintenance and system support five years ago to a IT systems company. However, the Finance Director is now very concerned about the growing costs of the outsourced IT services, which have increased by about 25% each year. He feels that it is time to bring all IT services back in-house to be managed by the small in-house IT team; otherwise the company will incur a heavy cash outflow which may impact the budgets. The Chief Executive Officer disagrees and feels it would be a mistake to bring IT back in-house. The CEO identifies 3 plans of actions as follows: a. Renegotiate the contracts with outsourcing parties b. Augment the local IT team and bring the IT services inhouse c. Identify a SaaS partner with whom the present small team can interact and establish the IT systems. As a MIS specialist, discuss the pros and cons for each of these strategies that would help the management take an appropriate decision