Table of Contents
More often than not, off-the-shelf software cannot keep up with complex business issues. In the pursuit of inexpensive and easily available business management tools, companies often end up spending more in the long-term. In order to cope with big data and increasing business needs, more & more companies are opting for custom software development to catapult business growth.
Why is Custom Software Development Important for Business Growth?
According to statistics, bespoke software development was able to rake in a revenue of over $209 billion in 2020 amid the COVID-19 pandemic. A time when many companies were succumbing to big losses or even shutting down their business. The same study also suggests that enterprise software development will claim a sizable chunk of $506 billion out of the estimated total IT spending of $3.92 trillion in 2021.
For those new to the idea and are curious to know what is custom-built software? It is the process of designing software to manage specific organizational requirements. They work closely together with software development companies to create digital solutions that are in line with their business needs. Such software is organization-specific. It makes customer satisfaction initiatives manageable by giving customers exclusive attention and in-depth solution to their problems.
The custom software development process is normally outsourced but in some instances, it is also looked after by in-house developers. Company-specific Custom Relationship Management (CRM) software, Content Management Software (CMS), and Automated Invoicing are some common examples of bespoke software. The idea can be incorporated into any industry to streamline various business functions and increase productivity.
Be it tech companies or otherwise, everyone is now aware of the benefits of custom software solutions, and it’s paving the way for heavy investments. According to a study, 52% of business owners outsource custom software development companies and a vast majority (80%) are content with this model.
If you are eager to invest in it but don’t know why? Let’s take a look at what benefits you can get from bespoke software.
Benefits Of Custom Software Solution
Isn’t custom software development expensive? How much does it cost to create custom software? These questions might distract you from investing in custom-built software, especially if you are a startup and lack sound finances.
However, before jumping to conclusions, also take into account the long-term cost of NOT going bespoke. Let’s take a brief look at some of its advantages.
Increase Productivity With Bespoke Software
When software is customized to fit your exact business needs then it is automatically increasing work efficiency. It also adds value to the business and makes employees productive. There is no need to change carefully-thought-out business processes when you can instead develop software to complement those business processes.
Low long-term Cost And Easy Integration
Regardless of some claiming that choosing a custom software development is an expensive alternate, that is not always the case. Think of it in this way: when you go for a bespoke solution, you are getting everything that you want in your digital solution. Unlike off-the-shelf solutions, all features are built according to your needs and they are also easily integrable. Thus eliminating the need for buying new software.
Getting the right fit means that it is exactly what you were looking for. Ultimately, being the right investment, you were looking to make.
Custom Software is Scalable
Businesses aim for revenue to grow themselves. However, does your organization’s software recognize this need to grow? As businesses grow, their processes can become complex and this can be cumbersome if, for example, the database outgrows your software capabilities. That is where custom software will save you from incurring costs on additional licensing or enterprise subscription-based packages.
Enjoy More Security Through Customization
Security has always been among the top priorities for any business, be it a large enterprise or an SME. Of course, for the software development service providers, this means no holding back as well. When reputation and client relationship is at stake from one end and sensitive private data from the other, there cannot be any compromises on security for both parties.
Custom Software Development Offers Enhanced Customer Experience
We all dig exclusivity and personalized experience has become an important factor in businesses too. Good companies are constantly in the pursuit of a USP that will make them stand out from the crowd, or perhaps raise their brand awareness. With custom software, businesses can address this need and even go as far as creating a customer relationship management (CRM) platform fully customized to meet the consumers’ needs.
Having custom software for business is perhaps one of the best ideas if you are looking to take your business up a notch. There is no need to worry about cost when there are so many returns, resulting in your benefit.