Is It Worth Investing in Custom Software Development?
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Building a custom piece of software could be hugely advantageous, but it’s also somewhat expensive, depending on the complexity of your project and who you’re working with. Before moving forward with any bid, it’s important to do an analysis and figure out whether the cost of custom software development is truly justified.
What factors should you consider before moving forward with a custom developer?
The Costs of Custom Software Development
Before we can determine whether the costs of custom software development are justified, we need to know what the costs actually are. Obviously, you’ll need to pay your custom software developers. Unfortunately, the monetary costs are extremely hard to estimate at the broad level. That’s partially because there are so many different types of software products that could be developed and partially because there are so many different ways to pay for that development.
For example, if you’re building a totally novel type of integrated software system that’s designed to handle all manner of functions within your international organization, you’ll pay more than someone who’s merely interested in developing a simple mobile game for themselves. You’ll also pay more or less depending on the competence and experience of your chosen custom software developers – and your costs will further depend on whether you’re paying a flat fee or for ongoing services.
It’s also important to recognize that there are time costs associated with custom software development as well. Even the fastest and most competent developers in the world can’t build something overnight; the process of software development typically takes a minimum of weeks and could take years for something very big or complex.
The Benefits of Custom Software Development
Of course, the benefits of custom software development are impressive:
· Everything you need. Default, out-of-the-box software products don’t always have all the features or settings you need to be effective. If you’re directing the development of a new, custom product, you’ll hypothetically have every detail you need.
· Total control. Some business owners like having total control over the finished product, as they want to tweak little details, like user experience and design, to fit their business needs. In some contexts, this additional control is well worth the investment of extra money.
· Transparency. When building a custom software product from scratch, you’ll typically have more transparency and more knowledge of the inner workings of the product. If you work in a sensitive industry or if you just want total confidence in the product you’re using, this can make custom development worth it.
· Security and privacy. For some businesses, security and privacy are paramount when it comes to managing software platforms. As you might imagine, many of the standard products you’d find on the market treat security and privacy as top concerns. However, it may be worth building a custom product from scratch if you want to make sure it meets your minimum standards.
· Future potential. Working with a custom software developer also sets you up for a brighter, more customizable future. Once you have this partnership in place, you’ll have an easier time adding new modules, changing existing features, and gradually tweaking your platform to perfection. If you want this kind of flexible evolution, custom software development is practically your only option.
The Alternatives
So what are the alternatives? If you don’t develop a piece of custom software from scratch, you’ll either have to rely on something out-of-the-box or forgo your software needs altogether. For the purposes of this article, we’ll assume you’re not going to forgo your need for software. As such, you’ll probably be comparing a hypothetical custom product to a similar product that already exists.
How can you tell if it’s better to pursue the custom product?
The Return on Investment (ROI) of Software
You can calculate a hypothetical return on investment (ROI) for any piece of software. On one side of the equation, you’ll have all the costs, and on the other side, you’ll have all the benefits. Some of these factors will be harder to quantify than others, but do your best to crunch everything down to an objective, numerical value.
If you’re working with a hypothetical custom software product, you’ll need to do some speculating. But that’s okay, as this is just an estimate anyway. Factor in all the costs and all the benefits of both a standard, out-of-the-box version of your product and a hypothetical custom developed one. Which one seems to have the higher ROI?
Unfortunately, choosing whether or not to employ custom software development is really a straightforward or easy decision. But if you’re willing to break things down into objective factors, and you’re willing to consider all the possibilities, you’ll be in a better position to make the decision that’s right for your business.