As businesses have invested more into software and technology, it’s become apparent that there’s no “one size fits all” approach to business software. Each business has its own needs that aren’t always reflected in off-the-shelf software. While getting this pre-packaged software is often easier, owning your own is an investment that could pay off down the line.
Scalability
By creating and managing your own software, you’re not limited by the scope and scalability of an off-the-shelf package. Having agency over your software allows you to position yourself better for growth opportunities rather than be limited by the capabilities of whatever generic software you use. This makes expanding your market and your customer base easier, leading to quicker growth, more profits, and better performance, which will definitely help your company in the future.
Security
When you create and develop your own software package, you can be a lot more certain about the security of your platform. The generic software packages tend to only have a few basic security features. This is why many industries, like the banking industry, the accounting industry, and the online gaming industry, all use bespoke software to guarantee your security. So, whether you’re making an online purchase, getting your taxes in order, or playing live casino games, you can be sure that your details are safe. By using these bespoke software packages, only your company knows how it was created, making it far less vulnerable to hackers.
Direct Integration
If you’re a growing business, you will likely already have software in place that you frequently use in different departments. Trying to bring in an off-the-shelf program to integrate with this can be a nightmare, as these generic software packages aren’t designed for use with other software. However, if you create your own software, you can specifically design it to work with your existing programs, making integration quick and painless.
Support and Maintenance
When a problem inevitably arises with your software, you often have to rely on third-party support companies. These companies are a pain to get hold of and offer generic advice on fixing the problem as they don’t know how you’ve integrated the software into your business. Forget about trying to add new features to it unless you’ve got a few months to spare. This is why having your own software is such an advantage. With your own software, customer support is within your business, and the best thing is they know exactly how it’s integrated because they’re the ones that set it up! It also makes the implementation of new features much easier.
Cost-effective
While paying for bespoke software may be more expensive in the short term, it will work out cheaper in the long run, thanks to all the incredible ways it will benefit your business. Whether it’s less downtime leading to less money lost thanks to having your own in-house support team, or the increased scalability that allows you to grow your business faster, it’s clear to see how owning your own business software can save you money in the long-term.
Conclusion
It can seem daunting to own your own business software, especially when buying an off-the-shelf package in the short term is easier. However, the increased scalability, easier integration, more efficient support, and cost-effectiveness mean it’s the smarter decision in the long run.