Businesses increasingly understand the importance of going digital in this era of fast-evolving technology. Digitizing certain operations can improve overall business growth and add to the revenue of a business. A report by McKinsey from 2016 found that digital leaders in the B2B industry enjoyed 5X more revenue than other businesses.
Businesses are rapidly looking to automate their operations through B2B software. There is a range of options in the market when it comes to off the shelf B2B software for automating various aspects of the business. However, there is a growing preference among business owners towards developing custom software rather than purchasing licenses for generic software.
What exactly is custom software?
Custom software is an enterprise software solution that is tailored to your business. From the overall design, business operations to be automated, customized reports to the overall dashboard, the entire experience can be personalized, centered around your business.
The Need for Custom Software
As the need for B2B software emerges, it is highly probable that a generic off the shelf software may just not be the right fit for a business. This has led to the rising popularity of the custom software development industry which saw a steady growth of over 3.6% between 2010-2015.
Gartner predicted the overall IT spending to cross $3.8 trillion in 2019, with the spending on enterprise software to grow by 8.3%.
This growth can be majorly attributed to the potential of custom software in improving business operations.
However, in order to reap the benefits of custom software, there are a few things that a business must consider first in order to find the perfect vendor for developing this software
How to find the right fit for your custom software requirements?
- Understand the specifications pertaining to your business processes where custom software is required
- Outline the budget for custom software development
- Conduct thorough research before picking a custom software development vendor.
- Put emphasis on support
Once you acquire the best custom software for your business, it can benefit your business in multiple ways. Here are a few ways in which custom software can improve your business:
1. Increased Employee Productivity
Custom software is tailored to your specific business requirements. One of the best aspects of custom software development is automation. The software can automate a multitude of tasks that otherwise would have to be done manually by your employees.
This frees up a lot of time that can be utilized by the team in other, more complicated tasks that add to business development. This leads to increase productivity through optimum efforts towards business improvement utilizing the time saved.
2. Streamlining Your Business Model
Custom software is required built around your business and its operations specifically. Automating various tasks like software delivery and many others through the software can also help you define the business model and the relevant business model that you want to follow with your organization.
You can also get detailed reports on every process that is automated. This will help you strategize based on what works and what doesn’t for your business. Right from ideation, product development, marketing to sales, custom software can help in streamlining your overall business operations.
3. Easy to Scale-up Operations
Custom software is developed keeping your business and your niche in mind. A good custom software developer will always keep room for changes and improvements. The dynamic nature of custom software paves way for scalability. You can optimize certain tasks as your business scales up.
For e.g. you can maximize the number of leads that your Customer Relationship Management Software can manage is your inbound marketing efforts scale up.
4. Integrated Solution for Multiple Departments
Custom software can reduce the hassle of managing multiple processes pertaining to different departments. Data related to the processes of the different departments can be consolidated under one umbrella.
For instance, your sales team can pick leads from the marketing team’s database directly from the software and can harm over converted clients directly to the project management team. The progress of each department can be tracked through summarized reports directly from the integrated custom software.
5. Optimized Security and Maintenance
Data security is one of the most prominent concerns of businesses in this digital age. According to Juniper Research, business losses occurring due to cybercrimes will exceed $5 trillion by 2024. In such a situation, it is necessary to take all measures necessary for the utmost security of business data.
Custom software is compared to off-the-shelf software are relatively more difficult to hack. You can also take all additional security measures during the process of your custom software development in order to ensure that your data is at its safest. As custom software is developed tailored to your business, the systems are also relatively easier to manage.
6. Minimizes Long-term Costs
Custom software development can prove to be a major cost-saver in the long run. Automating various processes including your overall IT infrastructure can help you save up on additional hardware costs.
With minimized hardware, the cost of replacement and maintenance is also eliminated. Custom software systems are dynamic and can be updated in the long run at a relatively affordable cost.
Custom software also gives businesses a competitive edge as the system is personalized for your own business and functions towards improving the same rather than a generic off the shelf software.
Moreover, orientation and support of each client are different in case of custom software development. This ensures impeccable support and action in case of any malfunction. It is also relatively easy to train employees in using the software. You can thus maximize efficiency within your organization.
With the integration of technologies such as AI, Blockchain, Cloud, etc. custom software can be further improved for maximum performance in turn positively affecting business operations. It can make processes efficient, speedy, secure and reliable for businesses of any and every size.
In conclusion, if planned and executed well, custom software development can really help improve the overall operations of any business, regardless of the scope.
- 6 Ways Custom B2B Software Can Improve Your Business - December 6, 2019