Weighing up the pros and cons of building your own custom business software solutions or purchasing them is a challenge for businesses of all sizes.
Many owners, managers and entrepreneurs in the modern world adopt the approach that it is better to build it themselves.
It ostensibly means more control over the development, management and customisation of the product which is an important factor for many start-ups and SMEs that need to micro-manage all operations and margins.
But there is a range of factors that make in-house software development extremely risky for businesses of all sizes.
And the control you have over the software and/or application can usually be achieved by bringing in the professionals anyway, which makes it a much more economical and efficient option when it comes to software development.
Here are the primary reasons why you should buy your custom business software solutions from dedicated developers:
Managing costs is an essential part of any business and its ongoing success, so it makes sense that cost control would apply to custom software development as well.
There is a misconception that building custom software in-house is a more affordable option, but unfortunately, that is not the case more often than not.
Determining precise costs for software management is extremely difficult, especially if the solution is large and/or complex.
Marketing consulting company McKinsey & Company conducted research in tandem with the University of Oxford that highlighted just how much these cost blowouts can mean.
Their research revealed that large IT projects run 45 per cent over budget, 7 per cent over time and deliver 56 per cent less value than estimated before the project started.
Most alarmingly, 17 per cent of IT projects can become so costly and problematic that they can threaten the existence of the company itself.
As costs blow out and the projects run over time, you fall behind your competition and have to invest even more time and money to rectify the challenges you have encountered.
This can have a large snowball effect and has spelled the demise of many enterprises in the past.
If you do not have in-house software developers, you are going to need to hire them to build your software solution.
These short-term contracts are very expensive and the costs keep getting higher depending on the level of talent you want for the project.
If you do not have your own, dedicated software developers working for you then it is often more favourable to outsource your software development rather than try to bring a professional in specifically for a single project.
It is a common mistake to assume that developing in-house software is a one-off project, but that is never the case.
Usually, the software is developed to address an IT issue, a business pain point or a customer/client need and the development of this software is isolated to these needs.
But custom software solutions are dynamic beasts, requiring regular maintenance, ongoing updates, patches and new functions to suit future issues and customer/client needs.
When these costs are not factored in at the outset, they can cause major budget blowouts and issues with the software that make it more of a challenge than a solution.
Depending on the size of your business, you could be assigning large chunks of your best talent to custom software development.
In some cases, this short-term pain could well be worth the long-term gain of having a totally bespoke product that is tailored specifically to your needs.
But in many cases, this moves your best people away from the ongoing operations and maintenance of your business which can be very problematic.
It can cause workflow issues, cash flow issues and lead to workers burning the midnight oil to juggle all of the tasks that are required of them.
Before embarking on building in-house custom software solutions it is imperative to determine whether you have the talent available to cover all operations during this process.
While the need to control and manage the development of software solutions is completely understandable, it can also be a pain point all on its own.
Approval processes, differing opinions and over-analysis can bog down the development process and lead to frustration, cost blowouts and projects that run well over time.
It is possible to have control of the development of your software and application needs by outsourcing to dedicated companies.
Look for the software development companies that are willing to listen to your needs, goals and desires and work in collaboration with you.
That way you can get the best of both worlds, control over the functionality of your software without the slowdown that can occur by managing it in-house.
The team at Ionyx thrives on challenge.
The bigger the software development challenge, the better. Our team will get to know you, your business, your goals and your aspirations to deliver the right software product that meets your needs – you are totally in control.
Our team is highly skilled, our operations are highly nimble and agile and our track record speaks for itself.
We also have a range of ready-built software products that can assist your business operations including:
Our apps are customisable and scalable to meet your needs so reach out and have a chat with us today. We will take all of the hassles out of software development for you.