Strategic Trends In Enterprise Software Development

According to Roy T. Bennet,

It’s only after you’ve stepped outside your comfort zone that you begin to change, grow, and transform.

Digital transformation is inevitable. Industries around the world are adopting the latest technological innovations to enhance productivity, improve strategies, get actionable insights, and increase ROI. Additionally, newer technologies are making repetitive and redundant tasks more exciting. These digital tools only aim to help businesses grow.

As mentioned earlier, global industries are in a constant state of evolution. Technology is the new status quo. From Artificial intelligence to IoMT, innovations are reshaping the global economy for the better. 

Since these solutions provide more flexibility, accessibility, better data management options, and workplace automation. The reason why, companies are now realizing the significance of enterprise software development as a primary source for gaining a competitive advantage.

What Is Enterprise Software?

The word 'Enterprise' typically refers to large business organizations or entrepreneurial ventures, such as Walmart, Amazon Inc., and Apple are some of the biggest companies in the world. 

Enterprise software or enterprise application software is large-scale software that fulfills the needs of a company rather than individual users.

Enterprise Software Market Value

Total IT spending on enterprise software is anticipated to reach around 506 billion US$ around the world. Related market revenue doubled between 2009 and 2019, which proves that the enterprise software development market will continue to rise at a constant growth rate indefinitely.

Latest Trends In Enterprise Software Development

However, many companies are facing challenges in implementing the right systems and procedures. Therefore, looking forward to enterprise software trends in 2024 can facilitate uninterrupted workflow. It plays a critical role in understanding and eliminating the complexities. So in order to keep up with the changing technological landscape, always follow the trends. 

Blockchain Technology is Simplifying the Operations

The ripples created by Ether or Bitcoin are just the tip of the iceberg. A major chunk of enterprise software service providers is prioritizing Blockchain development. We can see prominent use cases of blockchain in healthcare, logistics, real estate, the financial sector, governmental institutions, IoT development, supply chain management, and media. Such as Burstiq - a blockchain-based healthcare application that facilitates doctors and patients to share medical data.

The primary purpose of using blockchain technology is to manage sensitive and classified data and its access using the techniques of cryptography. Since all the information is stored on a network of computers instead of a single server therefore it reduces operating costs and speeds up the processes.

Enterprise software development using blockchain technology can offer transparency, security, and decentralization. Blockchain is positively impacting the financial sector and vice versa. According to studies by Statista, financial institutions are readily investing in blockchain; Global blockchain technology revenues will experience massive growth in the coming years, with the market expected to climb to over 39 billion U.S. dollars in size by 2025.

Therefore, it is one of the most talked-about trends in the enterprise software industry in 2024.

Cloud Computing; An Alternative to On-Premise Deployment

Cloud-Computing can redefine mobile app engineering since it enables companies to develop applications in the cloud without having to install complex infrastructures. Moreover, businesses are greatly depending upon cloud servers to keep their data safe.

Cloud computing is providing companies with an alternative way to on-premise deployment. Hence, cloud-based enterprise software is becoming quite popular as it not only improves business performance but also enables companies to have great business agility with relatively lesser costs.

80% of enterprises use Amazon Web Services as their primary cloud platform. Many companies are also shifting towards distributed cloud services in which the public cloud is distributed in different locations but managed by a single control panel. This centrally managed distribution of public cloud services eliminates operational and management inconsistencies, unlike hybrid or multi-cloud environments. Besides, the distributed cloud makes edge application deployment and management a lot easier, according to IBM.

Immersive Experiences Has A Promising Future

VR, AR, and MR will surely dominate enterprise software in 2024. The video gaming industry has seen massive growth throughout the past few years. From advanced computerized visions to immersive experiences, the opportunities for human augmentation are endless. Global enterprises have started to untap the potential of VR to overcome challenges. Educational institutions, on the other hand, are working around strategies to integrate VR into their virtual classrooms.

The University of Westminster is bringing learning to life by implementing a virtual space for students undertaking criminal law degrees. The virtual space is helping students to build their cases around murders by searching through clues. Crime scene walkthroughs and simulations are very practical and provide an exceptional experience to students by bringing imagination to the real world. 

Additionally, Facebook, Instagram, and Snapchat - some of the famous social networking websites are using AR in their filters for exciting customer experiences. 

Speaking of MR, it brings out the best of both worlds: AR and VR. The combination holds potential prospects for enterprise software development in healthcare, travel & tourism, education, construction, and engineering. According to the ARC market research report, the MR market will witness a CAGR of 73.% from 2019 to 2024, while its market size will grow from $1.054 billion in 2017 to $9.982 billion in 2024.

Voice-Driven Enterprise Solution Is The Next Big Thing

Global giants such as Google, Apple, and Amazon have made remarkable progress in the development of voice-driven tech through Machine Learning algorithms. Voice recognition has had a profound impact on global online businesses as it improves the experience of everybody and anybody on the internet. Therefore with the advent of speech recognition, enterprise software is increasingly using voice-driven interfaces to improve efficiency.

Apart from personal life, voice assistants are also transforming enterprise software. According to a survey by app dynamics, ‘The Future of Voice Technology for the Enterprise’, a majority of leaders in the IT industry are already adjusting their product strategy to facilitate voice technology. But many business leaders are still underestimating the possibilities that voice technology can bring as a result putting their businesses and products at risk of falling behind the competition.

Mercedes-Benz, Starbucks, Bank of America, Hyundai, Pandora, BBC, and Nike are among the early adopters of voice-based technology.

Personalization To Support the Needs of an Enterprise

Smart modern technologies such as AI and ML enable businesses to reach a whole new level of innovation, ultimately improving business performance. Such as Workday, enterprise software for Human resource management, or Salesforce, a robust CRM for big corporations. Personalization is becoming the new normal. Either it's about providing personalized customer service or personalization in the context of enterprise solutions.

Constructions projects are increasingly relying on the latest tools to manage their workflows efficiently. A must-have for such projects is a dependable pdf markup tool for construction that offers features like real-time collaboration, reviewing document history, and tracking tasks. These functionalities help streamline operations and improve project management.

Tools are designed and developed while keeping in mind the needs of the organization. A personalized approach allows companies to avoid costly customization. Therefore, enterprise software development companies deliver personalized solutions to accommodate the future business needs of their clients.

Besides, bigger organizations now depend on advanced enterprise application development technologies to facilitate their employees in fast data processing and management.

Enterprise Software Development Life-Cycle

Businesses are investing time and money in developing enterprise applications that offer advanced functionality to enhance productivity and performance alike. The software development life cycle is a sequential process of developing enterprise software. The following steps are involved in the development process:

Research 

The first step included in the software development life-cycle is the research and planning phase. Here, you understand the market, run a complete competitive analysis, generate a feasibility report, understand the challenges, decide on the technology stack, plan out your budget, and most importantly, filter out the perfect trends for the development of your product.

Requirements

In this stage, you access the requirements. Ensure that you have everything you need. All major stakeholders understand the requirements and are completely on board. Discuss the timeline through team meetings, and choose appropriate resource models based on their needs. Companies can decide among Fix-gigs, dedicated development team structures, and dedicated resources just in case they decide to outsource their development needs.

Development

After requirements gathering, the third step is all about design and development under the latest trend in software development. Enterprise software engineers should choose a flexible platform and a trending programming language for backend and frontend development equipped with robust security features.

Testing

This by far is the most important stage of the entire enterprise software development course. Before deployment, make sure to test the software for quality. Run multiple tests to identify and eliminate bugs. Some of the most important quality assurance tests are: checking code quality, unit testing, integration testing, security, and performance testing.

Deployment

This is the final step of the process where we upload the enterprise software and test it live. On deployment make sure to leave no room for errors. Ensure have a skilled team of developers is equipped with suitable deployment tools such as Application Release Automation (ARA).

Maintenance

After a successful deployment, the enterprise software must be frequently maintained and upgraded to ensure its smooth performance and functionality.

Invozone is a leading enterprise software development company with expertise in multiple industries. Enterprise applications are long-term projects. Therefore, outsourcing a team that can provide 24/7 support and maintenance is a cost-efficient decision rather than taking care of things in-house.

So, if you are looking to improve your sales and get more clients, get in touch with us today.