Large scale companies often face a common dilemma - whether to go for off-the-shelf software or build a customized software solution to organize their working methodologies. The answer to this is simple.
Companies debating this choice need to look at the larger picture. Determining the purpose of the software and calculating the total cost of ownership are some factors that companies must consider while making a choice. Software development services of reputed agencies help make informed choices when it comes to a similar scenario.
Custom Software V/s Off-the-Shelf Software - How to Decide?
It can be quite a debatable choice, given both the options are fairly good. To ease the situation for you, here are some pointers that we have curated to help you make a wise choice:
- Understand the problem statement.
- Have an idea of the approximate budget.
- Decide the product and its vendor carefully.
- Determine the security needs.
- Determine the extent of automation
It becomes easier to decide when you have a concrete answer for all the questions mentioned above. However, the most crucial pointer is - “Determine the extent of automation.”
By this, we mean that as a company owner/founder, your agenda must be to reduce manual labor as much as possible.
When you are relying on technology, you must see to it that you do not spend time on repetitive processes. Rather, you must incorporate technology and methodologies such that everything is automated and the least you do is monitor the process.
Hence, the answer is simple. Go for custom software solutions. Custom software development services adapt to a company’s way of doing business. Off the shelf, the software is readily available at software development stores and agencies tailor it to cater to demands in general. It is not customized, which is why any company adapting to it may lack in optimizing the protocols fully.
Pros and Cons of Custom Software Solutions
The Pros -
- Custom software solutions come with several customizable features. So the number of choices that you have is ample.
- When you opt for a custom software solution, you get complete ownership because you get it customized as per your company’s requirements.
- Custom software solutions are flexible. They let you scale. Since companies keep growing depending on the employee strength and business orders, the automated processes need to adapt to the growing size and larger business orders.
- It is easy to maintain and make amends with custom software solutions. You can modify the features as per your requirements.
- The solutions that custom software provides are business-specific.
The Cons -
- The initial cost of establishing a custom software solution is generally high.
- The time taken to develop a custom software solution is quite a lot.It can be cumbersome if the agency carries out the process in phases.
- Software development company that does not have the right expertise and skilled developers may cause you a loss of money and time.
- Custom software solutions are generally tested for business cases, but sometimes, they fail to provide solutions for the most basic of all requirements.
Examples of Custom Software Solutions
A company dealing with Custom software development looks to inculcate its own approach.
Here Are Some Examples of Tailor-Made Software:
The Uber app operates in every metropolitan city and is one of the most trusted apps when it comes to booking cabs and rental vehicles. Uber is able to stay ahead in its league because it uses a Custom Software solution. Using its custom software solution, it can provide a hassle-free experience for both - the rider and the driver.
Here are the key features of the custom software that Uber uses:
- Excellent navigation system for drivers
- Finding rides on the go-to for passengers.
- Automated technologies to calculate the pricing structure for rides.
It is hard to imagine a life without Netflix. This streaming service has been ruling the league of paid subscription platforms. It has constantly wooed its audience and has managed to have its user base increasing ever since its inception. Netflix relies on a custom software model. The following are the benefits it has had:
- Content customization as per user’s watch history
- Content suggestion based on user’s streaming history
- Subtitle generations
- Excellent backend technology to make the viewing experience seamlessly amazing.
Some Lesser-Known Industries That Use Custom Software
1. The Healthcare Industry
The healthcare industry is a vast and growing industry. The software needs of this industry may slightly vary from other industries. Since the sector works with sensitive data, there are some regulations that must be kept in mind while crafting the right kind of customized solution.
The complexity is quite a lot because there is dramatic variation. There is no ‘one-size-fits-all’ concept in this industry. Hence, the highly regulated and business-specific needs of the healthcare industry invite the use of custom software development solutions.
2. Real estate
Real estate companies bridge the gap between tenants and homes. They try to optimize the process of building one-of-a-kind homes for their tenants. The industry is rife and raw with processes, people, and components. It must stitch a proper middle ground to bring these factors together to build a good business.
Thus, real estate companies need customized solutions that will account for these dynamic pieces and internal processes that enhance the client's experience.
3. The FinTech Industry
The FinTech industry is one of the largest industries that is booming with lots of potentials to create job opportunities in the coming years. It is a reliable field for two major reasons:
- Protect financial data
- Make payments convenient
Hence, it is largely dependent on customized software solutions for internal and backend working.
Custom software is a powerful tool to help optimize the business processes to reach the end goal. It can help in tracking changes and adapting to trends and upcoming technologies. Most importantly, it helps to maintain a standardized workflow, follow the business model and acquire more customers.
Hence, custom software is the obvious choice if you are looking to scale and generate high revenues! Seeking a reputed custom software development company that caters to your needs? We at Narola Infotech will satisfy all the needs of your organization.