Modernizing Business with Efficient Custom Software Solutions
The business industry worldwide is facing an unrelenting pressure in this hyperconnected, automated world.
The pressure is so palpable that companies feel compelled to adopt modern digital practices to empower themselves and address lingering “fear of extinction” from the market space.
Business modernization, therefore, is construed to be sound, viable, cost-effective, and most-unavoidable business strategy to handle long-standing existential threats (revenue loss, gaining a profitable edge over competitors, and so on) in business.
And choosing cost-effective services like custom software development, among others, is seen as an extension of your effort to improve your business process, a paradigm shift, from mainstream and complex process to a new and modernized one.
Why is business modernization an unavoidable step?
Businesses today rely heavily on the modernization of their in-house processes as a roadmap-building step toward better business transformation and driving long-term business values. The fact is, improvising to ‘Change’ of the marketing landscape, as we see today is inevitable.
Well, let’s observe the following NTT Data Consulting data verifying the above-mentioned statement:
- 80% of bankers in America want their core system to be modernized.
- 53% of bankers believe innovation permits healthy investment in the new core.
- 70% of respondents disbelieve, if the existing (slothful) departmental processes can accommodate to the volatile market.
The meaning of the above data is a self-explanatory endorsement of why current business industries seek specialized solutions grounded in modernized technology. Moreover, it conveys one of the most important messages, that technology offering a customized solution to your business needs, can offer more cost-effective values compared to the one not fully accommodating to your core business purpose.
In this respect, the later technology, oftentimes, returns you a result that is a borderline contradiction to your expectations and business challenges.
Why Is Custom Software An Effective Solution To Your Business Modernization Drive?
Software is one of the most integral parts of running a business and streamlining its complex processes. For any software to be able to systematize your business processes effectively, it should be intuitive (programmatically) to your requirements. To serve that purpose, the software must have to be designed in an iterative methodology tailoring the exact demand of your business.
And, custom software fits on this criterion, thanks to its multi-attributes, as discussed in the following manner:
#1: 1. Cost downtick over time
Those unfamiliar with custom software development services could misinterpret its cost. They may (wrongly) think that modern software application offering customized solution comes at a significant price.
And boy, that’s the square guesswork prompting many to reconsider going for it (custom software product).
Except, that’s NOT true!
We know, when a user chooses a custom-built solution, he has to pay a higher price for it. However, the premium payout does not sound too expensive, as, in due course of time, the price gets reduced down to significant levels.
Now consider this case scenario –
When you pay less for software, anticipating it would continue to give you more leverages over time, what turns out later is quite opposite to what you thought in the first place.
This means the software product you purchased at a lesser cost now turns problematic on all quality parameters, such as –
- It encounters malfunctions in midway of certain operation tasks.
- It’s not being user-friendly in processing data or relevant inputs
- More downtime as what was initially promised in its commercials or ads.
Finally, a dud product, making all your business tasks back to square one!
To say otherwise, the nemesis forces you to roll back entire business processes, rendering to where you started everything in the first place.
What custom software offers is the cost-effective version of a rather more productive solution to your business needs. One of its crucial roles is allowing you to proactively plan out for any eventualities. The long-term relevant business solution it provides brings you one step closer to your anticipated business growth in the future.
Therefore, the cost you pay for a customized solution to modernizing your core business functionalities with custom software is justified over time. And, this happens when the performance of the product fully meets your expectations, without any downtime or any foreseeable technical snag.
#2: Impenetrable security, more power to your business
Modernizing a business requires the best security coverage for sensitive business data from cybersecurity threats.
The businesses today are susceptible to an increased risk of cyber-penetrators. The global economy is losing over 400 billion USD per year to cybercrimes. Companies susceptible to cybersecurity threats rely on a powerful software technology providing an iron-clad cyber safety net for their business operations.
This indicates, that any software fitting into that criterion (data safety) can stay in the market for the long-term.
Custom business software is one such solution designed to provide high-end security to your sensitive business data.
Since custom software is enterprise-specific, using confidential business data is restricted to the authorized access only. One of the reasons your sensitive business data can be hacked is the kind of code used in the program of the software you are using. The custom software products are programmed into a certain degree of impregnability, which is hacking the software is an extraneously time-consuming task for a hacker, with an almost nominal chance for success.
Unlike commercial off-the-shelf software (COTS), hacking customized software is virtually impossible with its highly-restricted accessibility. Second thing – any attempt of hacking the custom software can be thwarted midway, as the user is notified of any such unauthorized third-party access to the software’s mainframe programs.
Now users can act upon the notification by informing the software vendor, requesting for resolving the issue right away.
In the era of the evolving architecture of information technology, your effort to modernize your business with the help of cutting-edge technology like a custom-built software can ensure results, like enhanced data security, and seamless business operation.
#3: An investment-worthy software
What determines the success of a business is, whether its organizational functionality coexists with its users’ experience.
The role of custom-built software involves establishing a functional rapport with your organization’s specific business environment by addressing one or more challenges aiming to optimize your internal processes. The productivity of this software lies in the exclusion of all those trivialities unrelated to your business. It is more scalable over the long-term compared to its ready-made counterparts called commercial off-the-shelf software products.
One of the most productive steps a business can take is to invest in a rewarding technology meant for modernizing its core functionalities in a way that is streamlined, systematic, highly functional, and seamlessly organized. The role of bespoke software, in this context, is to help your business achieve its process efficiency with accuracy.
#4: The power of scalability and flexibility
One of the greatest attributes of custom software is serving your long-term business purpose, and it can be scaled into that purpose to meet your business needs.
The software allows users to add or change inbuilt features and can accomplish a task under extreme flexibility that it offers.
Business modernization follows a new kind of initiative. According to this, being more flexible to the ever-changing world of business is mandatory for its long-term existence. The importance of this tactic is highly substantial, as it ensures longevity and profitable growth of the business in the long run.
Here, the term ‘modernization’ is not restricted to embracing a ‘contemporary technology’ but also to make sure that you are using a ‘flexible technology’, which can accommodate to your ‘commercial needs’ in the changing world of the business.
#5: Simplified integration & automation
One of the steps to business modernization is the inter-departmental integration of software applications used by different departments in a company. Custom software simplifies such integration. As a result, it enables improved data exchange and efficient collaboration between one department to another.
Besides, the customized application software also allows easy automation of workflows, allowing you to know the number of employees engaged in a discrete process.
Commercial off-the-shelf software lacks such an ‘automation’ feature.
#6: Makes you a standout player in the competition
One of the modernization tactics in business is to ensure that you are standout from the rest of competitors in the market, by adopting certain business capabilities that your competitors don’t possess. A custom software solution provides you that much-needed business capability, improving your customer experience.
Furthermore, the value you drive to your business is comparatively more than that of your competitors may bring to their business.
#7: Built to suit your business needs
Custom software is built on the principle of fulfilling your business needs the way you want.
Therefore, when you are forced to buy a ready-made, off-the-shelf commercial software product, you have no option but to get along with its overtly restricted features, most of which do not fit your business needs at all. In that case, either you have to change the process of your business according to how the ready-made software is designed for, or consider its replacement with an efficient substitute like a custom software.
Such bespoke software is designed following your expectations. Therefore, it works in the best interest of your business, plus you can scale your business needs associated with your business goal in due course of time.
#8: Personalized experience
Custom software outweighs its ready-made counterpart because, unlike its not-so-productive counterpart, it is built on features specifically designed by the user’s business requirements. If you happen to buy a packaged software, anticipating it would provide a one-size-fits-all solution, there is a fat chance it would ever come to that anticipated reality.
Though ready-made software products can fulfill your small business needs. In the long run, they fall short on productivity.
On the other hand, its relatively more intuitive counterpart like custom software could be more accommodating to your business needs, such as automating processes & transactions, processing data/information, and satisfying security requirements, etc.
The kind of winsome personalization bespoke software gives is a terrific upshot of what makes it more viable if we compare it to its ready-made counterpart.
#9: Long-term investment value to your business
Being a premium version of a software product, custom software does have a slightly higher price. However, given the long-term business value it offers, the Return On Investment outweighs the cost. Additionally, it eliminates the necessity of persistent change or development to suit the changing needs of a business. This is the kind of unique benefit outshining custom-built software from its off-the-shelf counterpart.
Purchasing an off-the-shelf software requires an additional payout on license fees and other accrued costs. As a result, you have to shell out a little more price for the software. Custom-built software, by contrast, does not pose such an expensive pay-out. Also, it delivers long-term investment value to your business with solutions, including integration and scalability.
#10: Reliable security support
The owner of custom software receives technical support from the developer of the software. The notable thing is, the quality of support provided is very substantial, considering the developer team, that had built the customized the software, is profoundly aware of how to provide a quality fix to its malfunctions.
Wrapping it up
Business modernization is a process that involves understanding rapid changes of market and their corresponding results on a business.
Embracing cutting-edge technology, among different steps, is one of the most effective approaches you can take to succeed your business in this competitive business market. A custom software can prove to be a reliable factor in systematizing your organizational functions and making your business process more automated, efficient, and well-functional.
Unlike ready-made software, which is an inexpensive version of a rather more productive custom-built counterpart, the bespoke software can offer meaningful values to your business, over the time.
Given its chockfull of features, such as effective time management, ease of use, security, easy integration with existing systems, automation, scalability, and support, we can conclude that embracing custom software development solutions to your business is a building block of an efficient business optimization tactic. It is a modern version of your business to handle departmental processes efficiently and make rapid progress in competitions.
You are advised to consult a custom software development company for assistance and constructive solutions aligning your business expectations, for more efficient business processes, transactions, better management of data, lower integration costs, scalability, and more profitability.