8 Reasons to Invest in Custom Software Development
In this article, we’ll be shedding some light on custom software development.
We'll also discuss when and why your business should opt in for it.
Let's dive into it!
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So, you came up with an idea to build a software solution for your business. And started researching software development. If all went right, you came around the Build vs Buy debate in software development industry. Which one should an enterprise go for – Commercial software or custom software development?
Let me give a hint about the “Build vs Buy” discussion for those unaware. Off the shelf software (The one you can buy) is ready-to-use software used right after installing. Microsoft Office is a noble example of it.
Custom software (the one you can build) is designed and developed to meet the specific requirements of the business.
Both have a considerable gap in terms of usability, scalability, and functionality. And both of them are right to fit depending on certain requirements.
However, in this article, we’ll be shedding some light on custom software development also referred to as bespoke software development.
Let’s dive into it.
What is Custom Software Development?
Custom software development refers to designing, developing, and maintaining unique software for a specific set of users and organizations. A prominent example of bespoke software is an online banking app designed for a specific bank and its customers. Custom software takes a direct approach to its usability and functionality, unlike off-the-shelf software.
Gartner predicts global IT spending in 2021 to reach $3.8 trillion. This along with other factors represents the growing trend of software solutions in business efficiency.
With that said, let’s look deeper into when your business should go for customized solutions.
When Does Your Business Need Custom Software?
The decision to build a custom solution instead of going for an off the shelf one depends on many factors.
Nowadays, many businesses choose bespoke software development over generic one’s because customization helps them build:
- Products that fulfill all their requirements.
- Software solutions that are niche-specific and aren’t available generically.
When using custom-built software, we can easily resolve the issues like automating logistics of functions and optimizing the internal business processes.
Every industry that is regulated by laws such as data protection and customer data privacy needs bespoke software. These industries mainly include healthcare, finance and banking, real estate, marketing agencies, IT firms, hotels, and call centers to name a few.
To narrow down many use cases of bespoke software development to basics, we can conclude that business needs custom software solutions when its core concepts incorporate:
- Strict data security and privacy regulations.
- Achieving fail-proof performance for critical functions.
- The smooth running of the content management systems.
- Managing customer engagement for high ROI.
Why Should a Business Invest in Bespoke Software Development?
Many businesses remain reluctant or undecided on investing in bespoke software development. Why? Because they didn’t see it from both ROI perspective and issues, it could solve. Here are some benefits of custom software development.
This is your checklist for deciding whether to invest in custom solutions development.
- Personalizing Customer Experience
As we move into 2021, the user experience has become more important than ever. World-class service providers like Netflix and even Google invests more in enhancing customer experience. If you want to provide exceptional services or retain customers, you should be doing the same. With custom software, you can provide a personalized experience to customers.
- Increasing Profitability
While custom software development could solve a lot of business problems, how about making some money from your custom-built software? When you develop custom software, you can license or sell it to other organizations depending on the terms and conditions of your business project.
- Achieving Efficiency
Custom software is built according to your business process requirements. And since it is tailored to your needs, you won’t have to spend extra time or change your business process for adapting to generic software.
- Enhancing Security
For business working in under-regulated industries, data security and privacy is a necessity. And bespoke software makes your data less susceptible to cyber-attacks. This isn’t only for regulated businesses, businesses that aren’t under the regulations should ensure data security.
With off-the-shelf software, one of the major issues organizations face is when they need to scale their business process. They either have to pay for the additional licensing and subscriptions or transform to another software with the required specs. Fortunately, with custom software, this isn’t a problem. Businesses can scale their custom software according to their needs and cut costs.
- Easily Integrating with Low Costs
Bespoke software leverages integration with other business applications which save cost and overhead work for the team. This feature isn’t available in commercial software.
- Incorporating Existing Authentication Platform
With custom software, you can easily integrate with every existing authentication platform. This will help you in cutting the hassle of remembering passwords and will also give you greater control of users at the different access levels.
- Customizing Software Design
Bespoke software development enables you to maintain consistency in your design and user experience. This means that you can make custom software design according to your business logo, giving your brand a unique identity.
How to Develop a Bespoke Software?
Developing software is the same whether developing commercial or custom. Development method plays an important role in building a software product. It includes requirement gathering, planning, analyzing, designing, implementation, testing, DevOps, and maintenance.
However, there are different methodologies used in software development including but not limited to waterfall, agile, and scrum. Before discussing the methodologies, here’s a chart that shows agile methodology is most widely used for software development followed by Scrum and Waterfall respectively:
Let’s look at different software development methodologies that could be used in developing custom software:
Agile: This methodology breaks requirements into tiny bits and swiftly delivers along those lines.
Scrum: SCRUM is a type of agile software development methodology and is suitable for those projects where you need constant changes.
DevOps: It is also an agile methodology that integrates software development, deployment, and other IT functions in the design and development of custom software.
Read More: Why Implement DevOps in Business?
To answer the increasing competition and need to scale your business operations, software development has become a necessity. And you need to choose the right software solution that fits your requirements.
The businesses that operate in the regulated industry needs to ensure that the software they use fulfill regulatory requirements for which customized software development is the way to go.
There are two options to address customization effectively: either you hire an in-house software development team or outsource it to a custom software development company that will focus on your need to provide a client-fit solution.
In case you opt-in to build your own team, it may take time to build a team from scratch and integrate them. InvoZone offers a dedicated development team that will work on the project under your supervision.