2020 saw a seismic shift of the workforce from offices to peoples homes. Most businesses found they did not have the right software, systems and processes to handle day to day operations and functions anymore. It highlighted the need to focus not just on collaboration, communication and productivity. It became imperative for employers to make the health and safety of their dispersed workforce a top priority.
The global crisis hit businesses of all industries all across the globe. Companies realized that investing in custom software development can be beneficial as one-size-fits-all software was no longer efficient and adequate to meet the growing and challenging needs of the business.
Let us dive deeper into the topic of custom software development and understand how it helps businesses to achieve team collaboration, performance, safety, and scalability.
What Is Custom Software Development?
Custom software development is the process of designing and developing a software product to meet the specific requirements of a business. These software solutions include features, function, performance parameters, and security features to meet the organization-specific requirements and precisely address the firms’ customer needs.
Traditionally, banking transaction applications were typically off the shelf products or platforms. However, client interaction pre-Covid was based on face to face contact and physically signed documents. Banks that are digitizing these processes are doing it with custom solutions from the ground up so that it meets their internal processes, manages their risks and fulfils customers needs. Banks that have quickly innovated in this space are well placed to be leaders in the post-Covid world.
How is Custom Software effective amid this Global crisis?
Entrepreneurs find custom software effective in addressing new challenges in business. Below we outline the ways bespoke software could be an essential tool and an effective strategy for a business.
Cost-Effective
Custom software is your very own asset. You don’t need to pay for licensing, upgrades, user fees, etc. Companies get the flexibility to build a personalized app within their budget when they go for custom software. As revenues grow they can extend the functionality of the app. Cost-effectiveness has become a critical aspect now as Covid has hit revenues and profits. This makes custom software development an effective strategy today.
Automate Business Processes
When Covid hit the world, businesses’ had to enable work from home almost overnight. Work from home, however, brought challenges to meet productivity requirements. A custom-made software in this situation helps automate several day-to-day operations and business needs and keeps everyone involved, connected. Not to mention, tailor-made software is built with unique features which are necessary for your specific business. A product on the other hand will offer you several features, not all of which may be relevant to your business.
App Integration
Integration with other third-party applications is key to business success in today’s time. Mobile apps as an extension to your website or enabling digital payment processing on your company systems are just a few examples of app integration. Custom software allows you to develop and integrate new software or apps easily into your existing business processes. Companies that are looking to tweak their business processes during this covid crisis can find it helpful. One can handle complex business requirements through app integration in custom software.
Scalable
The current crisis has affected the demand and supply equations of different products and services. So scalability of business has become essential, and it can be achieved seamlessly with a bespoke software development company. Custom software can be used to improve scalability in business operations to move faster and eliminate inefficient processes and practices. With growth comes complexity in executing business operations, and custom software are designed to handle this.
Flexibility
The product owner has complete control over the interface design, the user experience, the custom features and functionalities. This can help companies differentiate themselves from their competitors and sustain growth.
Software Maintenance
Some custom software development companies offer a dedicated support team for the maintenance of the application. The experienced and skilled professionals render regular maintenance and in-depth support to your apps. Personalized support like this means that security vulnerabilities and technical challenges will be taken care of promptly. Custom App development companies offer flexible packages on a pay as you go basis.
Streamline Methodologies and Processes
When the global crisis hit businesses, one of the biggest challenges was to streamline methodologies and processes. Companies that operated from multiple locations and branches faced many problems. Custom apps help in streamlining processes within an organization and improving team collaboration. Bespoke software can be designed to have all business data in one centralized location and distribute it from there. Cross-functional teams sitting across multiple locations can easily access this data through custom software and make informed business decisions.
Finally…
Most companies find off-the-shelf solutions appropriate for some specific conditions. If you are looking to improve operations within your company during this pandemic or thereafter, then custom software solutions might be your best choice.