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Market Guide for Digital Technology and Business Consulting Services
Celebrating A Decade Of Innovation
Why thinkbridge is a great place to work?
Market Guide for Digital Technology and Business Consulting Services
Celebrating A Decade Of Innovation
Why thinkbridge is a great place to work?
8 min read

Innovate At The Speed Of Your Business With Custom Software

Software/Custom Software/Tech/Technology/Engineers/Build And Buy/Accelerated Software Development/Developers/Code/Coding/Platform Modernization
Custom software holds a plethora of benefits, but is it worth the price tag? There are plenty of paths to tread, let's look at a few.
Written by
Jonathan Mitchell
Published on
April 12, 2024

There are very few businesses in today’s market that operate without software serving a purpose second to second, minute to minute. Most organizations, at minimum, have some sort of website customers can peruse. In other situations, there may be a plethora of software programs being used to ensure the business functions as it’s supposed to. So, the question becomes, how does my organization’s technology usage create differentiation within the market? If it doesn’t, and the firm wants to upgrade, then the discussion regarding software development begins. There are a host of different options businesses can pursue, and some choose the custom software path. They partner with another firm or work with in-house experts to create a brand-new product. However, that process isn’t as simple as executives may think. Let’s talk about some ways organizations approach becoming tech-forward and utilize the creation of custom software.

In House Creation

Firms that have the workforce and expertise are more than capable of creating software products without needing an external partner. Large organizations utilize their financial muscle to put together a team capable of creating top-tier products. However, the organizations with the budget to finance such internal development are few and far between. More often than not, organizations have some sort of expertise available in-house, but not enough to comprehensively develop a product. This is why other approaches are far more common.

Build And Buy

This is the path most traveled. Many organizations have the in-house talent to create custom software, but maybe there are certain tools they’re missing. Or, perhaps their experts reside in a single niche, and so other professionals are required to complete the development process. Either way, this is where partnerships can really make a difference. Say a business has everything it needs from an expertise perspective, but doesn’t have access to cloud computing and its benefits. Research can be done, a provider chosen, and now the business can create custom software that fits within their budget.

The issue with doing everything in-house is that it requires an exemplary team of developers, designers, testers, managers, etc. The number of technical and non-technical roles involved in the creation of custom software is at an all-time high. So, to mitigate these factors, businesses can instead focus on their own competencies, and purchase whatever they’re missing. Now, budget still plays an integral role here, but this approach of build and buy enables organizations that maybe don’t have an insane amount of money to spend to create innovative software solutions.

Partnership Usage

Partnerships serve as the foundational building blocks of most software products created. Organizations very rarely have the breadth of expertise necessary to do all of the work on their own. Instead, businesses join together to maximize the capabilities of both parties. Say your organization needs help implementing an ML solution. Well, look around, ping some contacts, and eventually, the hope is you find a firm capable of delivering on your expectations. Or, maybe you’re sick and tired of depending on decades-old platforms and want to reinvigorate your technical assets. Your organization can search for a firm specializing in platform modernization, create a product roadmap, and then watch as your vision comes to life.

The benefits of custom software are wide-ranging. The investment may be significant up front, but once the solution is created, upkeep will decrease drastically. Security is better, and you’re easily able to meet compliance regulations. The product will be feature-rich and functional, meaning user experience will be elevated and retention increased. You’ll be able to integrate new technologies, such as cloud computing and AI-related solutions because you’ll be utilizing a modern product. An organization’s ability to adapt to changing market conditions and seek new ventures will be a walk in the park thanks to the modernized software being used. And the list goes on and on.

The Peak Is Within Reach

Software development takes time and money. Those facts are as immovable as Everest itself. That doesn’t mean you can’t reach the top. Firms across the globe mix and match strategies to fit their needs. That’s ok, there’s no perfect recipe that can apply to every organization. What’s important is to not be intimidated by the process itself. Just like reaching Everest’s pinnacle, there’s hard work to be done, and it does take time. That doesn’t mean it’s impossible. There’s an investment required upfront, but the long-term effects show exactly why it’s worth it. Reaching the summit and looking down on this incredible planet is what makes the climb of Everest so alluring. The same analogy, albeit far less picturesque, applies to software development. It is doable. You just need to be prepared, have the right strategy, and maybe have some helpful sherpas to guide you down the path of software development. In the end, it’s worth it. Time to start climbing.

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