MODERNIZING BUSINESS With Custom Software Solutions

In this hyper-connected, automated world, businesses everywhere are facing unrelenting pressure. Efficient custom software solutions are THE NEED OF THE HOUR. Let’s read about it in detail.

The pressure to adopt modern digital practices is so palpable that companies feel compelled to do so to gain market share and to eliminate the lingering “fear of extinction” from their market space. Thus, business modernization is deemed a sound, viable, cost-effective, and unavoidable business strategy for addressing long-standing challenges (losing revenue, gaining a competitive advantage, and so on) in business.

Efficient custom software solutions, in particular, are seen as a way of improving your business process. It is a paradigm shift from an older, complex process to a more innovative, modernized one.

Why is Business Modernization an Unavoidable Step?

Modernizing in-house processes has become a necessary step toward improved business transformation and driving long-term business value for businesses today. Improvising the changing landscape of marketing, as we witness today, is inevitable.

How come?

Here are the NTT Data Consulting data showing the above-mentioned statement is true:

• About 80% of American bankers want to modernize their core systems.
• Bankers believe that innovation permits healthy new core investments 53% of the time.
• 70% of respondents disagree that the existing (sluggish) departmental processes will be able to adapt to the volatile market.

Based on this data, it is easy to understand why modernized technology is essential to current business industries. Additionally, it conveys one of the most important messages, that Efficient custom software solutions can offer more value over off-the-shelf ones not tailored exclusively to your business needs. The latter technology often fails to deliver what you expect and often contradicts your business challenges.

Why go for application modernization, read here in detail.

Custom Software: Key to Business Modernization

It is imperative to have software to run a business and streamline its complex processes. It is important (programmatically) to be able to customize the software to your business processes in order to be able to systematize them effectively. This can only be, achieved with software that is, designed iteratively, according to the exact demands of your business.

Custom software, with its multi-attributes, fits into this criterion, as discussed below:

#1:  Cost Downtick Over Time

The cost of custom software solutions is, perhaps misunderstood by those unfamiliar with it. Modern software applications offering customized solutions are, perceived as being very expensive.

It’s the square guesswork that leads many to reconsider their decision to go with a custom software product.

However, that’s a lie!

It is, well known that a user will, have to pay more for a custom-built solution. It is, nevertheless not a high price as in due course the price is, reduced to a significant level.

Read about the Best ASP.NET Tools To Build Mind-blowing Web Applications, here in our blog.

Take a look at this case scenario –

Even if you think you will gain more leverage over time by paying less for software, it often turns out quite the opposite of what you thought initially.

Consequently, the software you purchased at a lower cost now becomes problematic on all quality parameters, including –

• Midway through certain critical operations, it encounters malfunctions.
• Neither the data nor inputs can be, processed in a user-friendly manner.
• As compared to what it originally promised in its ads or commercials, it requires more downtime.

The end result is a dud product that makes all your business tasks redundant!

If you take a different view, the nemesis forces you to revert to the beginning of all business processes.

Rather than a more expensive solution to your business needs, custom software solutions offers a more cost-effective alternative. It allows you to plan ahead proactively for all eventualities, which is one of its critical functions. You will be able to achieve your anticipated growth in business through this long-term relevant solution.

Therefore, the cost of implementing custom software to modernize your core business functions is justified over time. A product is considered successful if the performance meets your expectations without any foreseeable technical problems.

#2: Impenetrable security, more power to your business

Keeping sensitive business information secure from cyber threats is crucial for modernizing a business.

Cyber intruders pose an increased threat to businesses today. More than 400 billion USD are lost to cybercrime every year. Powerful software technology can provide ironclad cyber safety nets for companies susceptible to cybersecurity threats.

As a result, any software meeting that criterion (data security) is likely to survive.

One such solution is custom-developed business software that provides high-end security for your sensitive data.

As custom software solutions are enterprise-specific assets, only authorized users can access confidential business information. Your sensitive business data can be hacked by the kind of code used by the software you use. In order for hackers to circumvent the custom software, they need to be almost impregnable, with very little chance of success.

Due to its highly-restricted accessibility, customized software is almost impossible to hack compared to COTS. In addition, any attempt to hack the custom software can be thwarted midway, since the user is immediately notified if someone attempts to access the software’s mainframe programs.

Upon receiving a notification, users are able to contact the software vendor immediately, requesting a resolution of the issue.

When utilizing cutting-edge technology, such as custom-built software, to modernize your business in the era of the evolving architecture of information technology, you can ensure enhanced data security, as well as seamless business operations.

#3: An Investment-Worthy Software

An organization’s organizational functionality must be in harmony with its users’ experience in order to be successful.

As a result of custom-made software, you are able to establish a functional rapport with your company’s specific environment by addressing one or more challenges that can optimize your internal processes. This software’s productivity comes from its exclusion of all those trivialities.

Compared to its commercial off-the-shelf counterparts, it is more scalable for the long term.

Investment in a technology platform that modernizes a business’s core capabilities in a way that is systematic, streamlined, highly functional, and seamlessly organized is one of the most effective steps a business can take to improve productivity. In this context, bespoke software’s main purpose is to make your business processes more efficient and accurate.

Read why Golang is the best language for AI.

#4: The Power of Scalability and Flexibility

Its greatest advantage is being able to scale with your changing business needs as well as serving your long-term business purpose.

The software allows users to modify or add inbuilt features, as well as complete tasks with its extreme flexibility.

For long-term survival, business modernization requires businesses to be more flexible to the ever-changing world. Long-term business sustainability is ensured by this tactic, resulting in profitable growth. In this context, the term ‘modernization’ isn’t limited to just adopting a ‘contemporary technology’, but also making sure you’re using an ‘adaptable technology’ that can accommodate to your ‘commercial needs’ in the changing landscape of the business.

Read which one should you select amongst Iconic and React Native for your next project, in our detailed blog.

#5: Simplified Integration & Automation

An integral part of modernizing a business is integrating the software applications used by different departments within the company. Such integration is made easier with custom software. In addition, it allows departments to collaborate more effectively.

As well as automating workflows, the customized application software tells you how many employees are, engaged with each discrete process.

A feature like this is not available in commercially available software.

#6: Makes You Standout in Competition

One of the modernization tactics in business involves adopting business capabilities that your competitors lack so that you stand out from other companies. You can improve your customer experience with a custom software solution. Moreover, while your business generates more value than your competitors’ businesses, you drive a comparatively greater value to yours.

#7: Built to Suit Your Business Needs

A custom software application meets your business needs exactly the way you need it.

Because of this, if you have, no other choice but to buy an off-the-shelf commercial product, you are, forced to accept its blatantly restricted features, many of which do not fit your business needs at all. In this case, you must either alter your business processes to fit the software’s design or consider replacing it with a replacement that is more efficient, like custom software.

Custom software is, developed based on your specifications. Therefore, it is in the best interest of your business, as well as you can scale your business needs over time as you reach your business goals.

#8: An Experience of Winsome Personalization

Unlike its less-productive counterpart, custom software is, designed specifically for the user’s business needs, unlike pre-made software. There is little chance that you will ever find a one-size-fits-all solution in a packaged software package.

Small businesses can benefit from ready-made software products. Over time, however, the products are less productive.

In contrast, custom software, which tends to be more intuitive, may better accommodate your business needs, such as automating processes & transactions, processing data information, and fulfilling security requirements.

When compared to ready-made software, bespoke software offers the sort of personalization that makes it more attractive.

#9: Long-Term Investment Value to Your Business

Custom software does have a slightly higher price because it is a premium version of a software product. The Return on Investment, however, outweighs the cost given the long-term value it provides. Moreover, it eliminates the need for constant adaptation to meet the changing needs of a business. A custom-built product has this unique advantage over off-the-shelf software.

Licensing fees and other costs must be, paid in addition to the cost of off-the-shelf software. Therefore, the software is a bit more expensive. 

On the other hand, custom-built software does not require such a large investment. With solutions including integration and scalability, it is also a long-term investment.

#10: Reliable security support

Developers of custom software provide technical support to their owners. One of the most notable aspects is that the quality of support is excellent, since the developer team, who built the custom software, is profoundly knowledgeable about how to fix its issues.

Wrapping it up

In order to modernize a business, you need to understand how rapid changes in the market affect the business. In this highly competitive market, adopting cutting-edge technology is one of the most effective strategies for taking your business to the next level. You can benefit from custom software in automating your organizational functions and improving the efficiency and effectiveness of your business processes. The bespoke software can offer meaningful value to your business over time, unlike ready-made software, which is a much cheaper version of a much more productive custom program.

Investing in custom software development is a key step toward optimizing your business. In a competitive market, it is a modern method to handle departmental processes efficiently and make rapid progress.

A custom development solution could transform your business as a result of companies adopting business modernization.

We recommend consulting a custom software development company.

By integrating TechnoBrains’ assistance and constructive solutions, you will be able to achieve more efficient business processes, better data management, lower integration costs, and increased profitability.