Build or Buy?
Custom software development vs Off-the-shelf software
What is custom software development?
Custom software development is the process of designing, developing, and deploying software that caters to a specific set of users, processes, and business requirements. Also known as bespoke software, it is focused on defined requirements and helps to achieve a competitive edge for your unique business needs.
What is off-the-shelf software?
Off-the-shelf software is ready-made software that can be readily rolled out for immediate use by a mass audience. It comes with well-rounded solutions and features to streamline business operations at a faster pace, and acts like a one-size-fits-all solution to a broad spectrum of common problems.
| Instant availability | Business-specific features | Quick implementation | Scalable to business needs | Seamless integration | Support & maintenance | Long term cost-efficiency | Enhanced security | Low upfront cost | Competitive advantage | |
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Custom Software vs Off-the-Shelf
Custom Software
Pros
- Features are tailored to your exact needs
- Fully compatible with your business ecosystem
- Easily adaptable and scalable as your business grows
- IP ownership and part of your organization asset
- Enhanced security
- Gives you a distinct edge over competitors
- Use of AI-based programming
- Ability to adapt latest technology
Cons
- Longer development time
- Initial upfront cost can be high
- Solely dependent on the custom software provider
- Dependability on the provider
Off-the-Shelf
Pros
- Readily available
- Quick and easy to deploy
- Lower upfront costs
- Trial or demo of the software is available
- Regular upgrades in terms of features
Cons
- Incurs licencing and subscription fees in the long run
- May not be compatible with your systems or third-party
- Limited scope for customization and integration
- Rigid and difficult to modify as your business expands
- Same software is available to all your competitors
Making a decision
Choosing between custom software development & off-the-shelf software
Custom Software Development
- You need a software personalized to your company's exact needs.
- You want to easily integrate new software with your existing systems.
- You want to save costs in the long run with a long-term focus.
- You want to attain a competitive advantage.
- You are dealing and working with sensitive data.
Off-the-Shelf Software
- You need a working software right away.
- You have limited budget constraints.
- You are a start-up organization and have no immediate plans to scale.
- You are looking for a generalized software solution.
- You don’t need software to integrate with your existing systems.
Estimating the spend
Cost of building the software
Making the decision between custom software development or off-the-shelf software can be a daunting task, but it’s important to consider the cost-effectiveness of each option.
Off-the-Shelf Software is a quick and affordable solution.
- Upfront cost is low, but has hidden costs that adds up in the long run
- Packed with a wide range of features but may not merely meet all your needs
- Updates and support to keep your software up-to-date
Custom Software Development is tailored, but cost-effective in the long run.
- Personalized to your company’s exact needs, unlike off-the-shelf software
- Flexible and scalable in design and functionality ensuring your software works exactly you want it to
- Potential for long-term cost savings as your business grows and evolves
The cost-effectiveness of each option will depend on your specific business requirements and goals. However, investing in a custom software solution will provide you a unique competitive advantage that will unlock bigger opportunities.
Successful software cost estimation requires expertise and understanding of industrial factors.
Maintaining the continuity
Moving to Custom Software Development
Switching to custom software doesn’t have to mean breaking down your existing system and starting from scratch. This can be done through a phased implementation approach, where the new software is integrated incrementally into the existing system. This approach minimizes the risk of disruption and allows for a smooth transition to the new software.
Working with an experienced software development partner can also help ensure a smooth transition to custom software, as they can provide guidance on the best practices and tools for seamless integration.
Fingent’s approach
Custom Software Development Process
A well-defined software development process starts with consultation and analyzing the underlying business ecosystem. First, understanding the business needs and defining the project scope, goals, and timeline. Gather all the details about what the software must do and document it. Next, create a visual representation of the software and build a working prototype to see and feel the software before it’s fully built.
Followed by development, testing, and deploying the software. Once complete, the software must be administered with ongoing support, bug fixes, and upgrades to ensure the software continues to meet business needs.
According to Fingent, following a structured and well-defined process enables to deliver high-quality software that meets the business requirements and provides long-term value.
Free consultations
Ideation
Strategy
Design
Development
Testing
Maintenance
Ensuring reliability
Software maintenance and support
However well designed, every software requires periodic maintenance and support services- from fixing the bugs and errors to improving its features and functionality. There are different types of software maintenance performed for various reasons and purposes- corrective, preventive, and adaptive maintenance and support. A software may have to undergo one or more types of maintenance throughout the software maintenance life cycle. A reliable software development partner ensures that the following activities are performed in a timely manner.
Application Re-engineering
Bugs and Flaws Tracking
Application Migration
Performance Monitoring
Making the process smoother
Finding the right software development expert
- Identify your business needs, evaluate the problems, and analyze the solution.
- Gather information about the company’s technical skills and expertise.
- Perform a company background check on social media and customer review portals.
- Determine whether the cost of the project falls within your budget.
- Ensure the quality of support services after deployment.
It is always better to know more about your software development partner before getting into business.
Insights
More Insights on Custom Software Development
How Custom Software Helps to Reduce Your Development Costs
Custom software can considerably lower development costs without compromising quality. Here’s everything on how to manage your project budget and ensure to stay within your desired range. continue reading
Custom Software and Off-the-shelf Software
When your business needs new software, there are two options: Custom software or off-the-shelf software. Both have advantages and uses, but find out which is more beneficial for your business. continue reading
Custom Software Solutions: Maintenance & Support
Guarantee a high-quality user experience with custom software maintenance and support. Hiring the right company to design and develop custom software is highly crucial for your business’s success. continue readingFAQ
Frequently Asked Questions
Customized software saves your IT expenditure by offering subscription-based pricing and reduces your maintenance costs. Custom application development enhances your operational efficiency, saves your labor and training costs, and offers you the ability to scale with the market needs. A property management portal/application that allows field agents/ brokers to coordinate between buyers and sellers is an example of customized software in real estate.
An example of customized software in the healthcare sector will be an Appointment Management System that enables clinics or hospitals to track patient appointments.
A number of factors weigh into this decision including scalability, existing platforms, client’s existing infrastructure, data types, and so on. Primarily, the decision should be based on your specific business needs and set of features expected out of the application.
For instance, Microsoft .NET is a highly versatile framework that can be used for nearly every solution, while certain demands can be better executed using a PHP/MySQL stack or a specific similar technology. Fingent’s Development Team is well-versed in nearly all available development technologies and applies the appropriate technology to the appropriate solution.
It’s tough to estimate the exact development cost of custom software because every piece of software is tailor-made and unique. No two custom-built applications are the same. Hence, sharing an approximation of general costs without understanding the project’s specific requirements is difficult.
There are numerous aspects that contribute to the costs of custom software development which include the size of the software (the number of pages/ screens), the complexity of the software, design specifications, integration with other systems, migration of existing data, usage patterns, and so on.
In certain cases, it is possible to do so. Fingent’s software architects will guide you by analyzing the needs, scalability, and supportability of your older app and offer you the appropriate recommendations. Integrating your existing application to a newer application is also dependent upon the level of access that we have to your older app’s fundamental functions or if an API is made available by the app. (API or Application Programming Interface is a built-in feature that allows external connection to an app’s data).