It's really hard to give advice without knowing the complexity of the software, desired SLOs, how much you currently spend on your currentvendot, and how many $

It's really hard to give advice without knowing the complexity of the software, desired SLOs, how much you currently spend on your currentvendot, and how many $$ your current solution is costing in lost productivity/growth. You haven't named the third party product. I presume because it reveals too much, but perhaps you could name it along with its competition so that we can get an understanding of complexity?