Technology is an essential part of the business. Incorporating the right type of technology can sustain or furthermore, boost your company in today’s ever competitive market. In like manner, failing to do so can bring about devastating consequences that will leave your company behind.
You already know that you need powerful software that can take your business to the next level. So the question is “Should I build my own software or should I buy it?”
Pros and Cons of Building Custom Software
If you build your own software, you will have something that is specifically designed for you. It is like having a tailored suit. It is built to accommodate your needs and by doing so, it allows you to work faster and better. From the design stage to the launching and maintenance, you will have more control. Equipped with custom software, you will gain a competitive advantage over your rivals who are using generic software.
But it is expensive. The up-front cost of building custom software is not just financial. To build custom software successfully, you need to invest a great amount of time and human resource. If you try to save on time and resources, you might end up with software that doesn’t work as you want and it will never get used. Trying to pull off this seemingly awesome project also means it will most likely take your focus away from your core competency.
Pros and Cons of Buying Software
Buying software can save you time. You can jump right in with multiple built-in features that have passed rigorous tests. You will pay a lower initial cost since the cost is spread across a larger number of users. Most off-the-shelf software has a vast amount of supporting system as well. In addition to a great user-manual, there are user forums and articles that can help you resolve the issues.
Well, the lower upfront cost does not mean a lower total cost. Especially with software service providers turning to subscription models or license fees options, the overall cost of choosing an off-the-shelf software is increasing. Commercial software is not your perfect fit. It won’t have the features that you need but will come with hundreds of features that you don’t want. The worst thing is you may have to shift your business around to match the software’s functions instead of the other way around.
What should I do? BUY the BUILT
I know what you want to do. You want to get the pros of both options while not having to deal with the cons. There is a solution for that. When you want to find a perfectly tailored suit, you go to a custom tailor suit shop. In the same manner, you need to find a software development company that can build your custom software according to your needs.
- Money, Time, & Resources: You don’t have to go through the hassle of building your software development team from a scratch (Frankly speaking, it probably won’t work anyway). It will have up-front cost but it will be less than doing it on your own and will save you money in the long run than using generic software.
For example, a local automotive company was paying $55,000 monthly for license fees and it was expected to jump to about $70,000/month. We went in before the fee increase and now they don’t pay any license fee and have a system that is perfectly customized for them.
- Hitting Your Goal with the Best Tech: You are not settling for generic software that anyone can get. Equipped with this powerful custom gear, your teams can collaborate and function better and faster. If you outsource, you can get this competitive advantage while you still focus your resources on your core competency.
When a jewelry manufacturing company approached us, they were still not sure about the investment. After we revamped their website applications, their revenues increased rapidly. They are still able to focus on their core competency—building the finest jewerlries—while this customized software works as the boost engine for their business.
Making a business decision is hard. It’s harder if you try to do it by yourself. If you are still not sure which option to choose from, give us a call and we will help you choose an option that fits your needs the best.