Valued at $24.46billion in 2021, the global custom software market is expected to expand at 22.3% CAGR till 2030.
The figures amply showcase the dwindling demand for off-the-shelf software solutions, especially for strictly growth-oriented companies that are serious about establishing and maintaining their lead in the market. All businesses are unique in their own terms and thus, require solutions that fit their nuances rather than adjusting their process framework to toe off-the-shelf software construct.
This not only compromises business interests but, leads to wastage of resources in terms of time and money, as well.
The power of customized software solutions on the other hand, is such that it can transform even the most stagnant enterprises into flourishing, innovation driven powerhouses.
Did you know, over 52% businesses have outsourced their software development of which 80% were completely satisfied with the results.
Taking numerous rags to riches stories of companies that chose tailormade over canned solutions, here are 8 time-tested reasons why custom software has been unanimously crowned as growth catalysts…
- Tailored Precision – Anything bespoke bears bountiful benefits. The fact that custom software solutions are constructed from scratch wholly and solely to meet your unique business goals, address individual issues and facilitate exclusive processes, its precision remains unmatched compared to off-the-shelf counterparts. In fact, a number of companies have reported as much as 40% leap in their efficiency after switching to custom solutions, making it a critical element for business growth.
- Fortified Security – There have been innumerable occasions when users complained that readymade software solutions invited malware and other attacks on their system. Some have also complained about data theft and leakage of information following poor security and practically nonexistent customer support.
Custom software however, is exemplary when it comes to offering bulletproof security and data protection to users. Extensive personalized testing and advanced bug fixes help maintain the health of custom software without the repeated annoying updates that characterize off-the-shelf options.
With 100% security by your side, be rest assured there will be no speed bumps to your growth.
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Cost Compatibility – Bespoke software solutions may come with a relatively heavy initial cost, but it balances the expense within a few months following its usage, given that users are completely free from the usual recurring off-the-shelf software costs like monthly subscriptions, paid upgrades, integration / trouble shooting expenses and of course, the hidden costs that show up when you are least expecting.
Topping it with the advantage of paying only for the features that are relevant to your business, you have a software that relieves your cost concerns in the short and long run.
- Continuity in Support and Maintenance – Not many off-the-shelf companies take responsibility for the software they put on display. Once sold and once out of warrantee period, you can bid support and maintenance a fond farewell, because it is now your problem to handle. This leads to unnecessary interruptions in business / company operations causing expensive downtimes.
Bespoke software however, are continually pampered with quick and easy assistance from the developers. Be it for maintenance or troubleshooting, accessing help is usually a phone call away. With possible downtimes drastically reduced, support continuity in custom software acts as a major growth catalyst for businesses.
- Blissfully Easy Integration – Attempting to fit readymade software into a unique business / company ecosystem is often akin to fitting a square peg in a round hole. Users are often seen struggling for days trying to iron out incompatibilities while losing efficiency and productivity in the process.
Custom software on the other hand is designed meticulously and perfectly in tune with your current business needs and operating system. Therefore, the process of integration is seamless, smooth, effortless, quick and hassle-free.
- Flexible, Scalable, Adaptable – Custom software solutions grow smoothly with growing businesses by adding newer features that complement new requirements. Given that there are no unnecessary features, custom software is light weight and offers targeted precision solutions to address urgencies with speed and effectiveness.
Being bespoke, it can scale up to match businesses growth of any volume or nature thereby, maintaining its relevance for as long as vision goes.
- 100% Ownership – The freedom of being an exclusive owner surpasses the joy of renting. With custom software, you are in 100% ownership of your individual product. Unlike off-the-shelf options, bespoke solution will never have an identical match and you will retain exclusive rights to name it, alter it, add / subtract features from it and use it to its full potential with zero restrictions.
This instantly gives you a steep competitive advantage over companies / businesses that still rely upon readymade software models.
- Customer Satisfaction Guaranteed – Did you know, as per statistics published by McKinsey, 71% customers expect companies to deliver customized solutions and 76% of them get seriously disappointed when they don’t receive the same. With custom software solutions, meeting unique customer expectations is cake walk. This makes 5star rating is a sure shot possibility.
Bespoke Solution - Endless Possibilities
It is won’t be long before custom software becomes the new normal. A larger number of proactive businesses are already switching to bespoke software for capturing and retaining markets and customers. In fact, the sooner you start, the faster you grow.
Reference:
- https://www.grandviewresearch.com/industry-analysis/custom-software-development-market- report#:~:text=The%20global%20custom%20software%20development,22.3%25%20from%202022%20to%202030.
- https://www.designrush.com/agency/software-development/trends/custom-software
- https://stackify.com/7-benefits-of-custom-software-development/