What is Customer Software? Things to Consider Before Investing in One

Results from a 2020 survey by Twilio show that businesses have started to put more money  into digital transformation initiatives. 79% of respondents have increased their budgets for  new digital strategies in response to COVID-19. This surge in demand for technology will  continue at least through 2023 according to a report by the IDC.

Global research firm Gartner also predicts IT spending will increase 8.4% to $4.1 trillion this  year as more companies across industries move their operations online.

Today, we’re seeing technology being adopted to create new business models. Retail brands  are building their presence in eCommerce platforms and shifting sales online. Automation is  enabling companies that have had to reduce their workforce due to the pandemic by  increasing productivity despite having fewer employees.

Digital transformation means closing the gaps left by mandated lockdowns and other  restrictions that have used technology to limit the way people work. At first glance, the criteria  for doing this are simple: business owners and CEOs consider what’s on the market, what it  can do to increase productivity, and how it meets their needs.

But often, generic, off-the-shelf software doesn’t meet the companies’ specific needs.  This is the reason why businesses look for custom solutions.

Custom software is a solution that is created, deployed, and maintained for a specific  business. It is developed to solve a company’s specific problems with the features it needs to  be more effective.

If you’re wondering if developing a custom software is the right route to take for your  company, let’s take a look at some of its advantages and disadvantages.

Advantages of Custom Software

1. It’s a personalised solution for all your needs

Developing a custom software solution ensures that it’s tailored to suit your needs. You can  be particular about how it should be built and how it should support your business needs.  The problem with ready-made products in the market is that there’s no assurance that they  will all fit seamlessly into your operations.

Custom software can be personalised the way you like and need it to be. When you have a  solution designed to do exactly what you want it to do, it optimises processes and increases  productivity. One example of custom software is automated invoicing, which allows  businesses to pay, get paid, process payments, and get real-time notifications. This kind of  cloud-based solution is effective for small to mid-sized online businesses who need an  efficient means of distributing invoices between suppliers and buyers in a safe and fully  integrated digital format.

2. It’s a smart long-term investment

Some businesses are hesitant to invest in custom software development due to cost. And  while the up-front costs are usually higher, it saves businesses money long-term. There is no  need to buy extra hardware, acquire annual licenses, or pay for features that your team is  likely never going to use. All these recurring costs will cumulatively be more expensive if you  incur them yearly.

3. It allows seamless integration

Customising software allows easier integration with your existing applications. Businesses can  avoid having to maintain several programs, reducing stress, and accomplishing more.

Disadvantages of Custom Software

1. It requires a higher technical proficiency

If you choose to develop custom software, an extra level of technical understanding is  required. Implementing custom software requires you to invest in training your people as  well. If your employees lack the skill set necessary to configure it and maximise its functions,  going for an off-shelf program would be better.

2. It needs more time to develop and deploy

The designing, implementation, and set up stages of custom software will take time that some  businesses can’t afford to lose. During development, you may also face various complications  that may delay the delivery of the product. If you need a fast solution so as not to disrupt your  workflow, a custom software might not be worth the risk.

Why Choose Custom Software Development

Although the initial cost of this project can be high, especially for SMEs, it has the potential to  be more cost effective in the long run.

The ROI of custom software is not as simple as investing a certain amount and receiving  another amount as profit, but once implemented, take a look at how it benefits the overall internal productivity of the business and establish the right metrics for growth to evaluate its  effectiveness.

Companies can cut down their expenses by up to 50-60% when they outsource a developer  to help them build their custom software. This is due to the reduced cost of onboarding,  salaries, and other employee benefits. Apart from these savings, they are able to avail the  services of specialized professionals who are able to speed up development for the  company.

Let us know how we can help your business today.