As a CEO (or a business owner), balancing your company’s immediate needs with its long-term growth is both paramount and challenging – especially if your business is a startup. Challenging questions arise, such as whether you should invest aggressively in long-term initiatives or take the less expensive and more conservative approach. The “build versus buy” decision, for example, is a significant one that many companies face when addressing their software needs.
Building custom software can unlock a host of benefits, but companies should only pursue that strategy if a) better software can provide a competitive advantage relative to your competitors, and b) you are building a large business that can spread the cost of a proprietary system over a large number of clients. Consider the following questions before making this decision:
Why should you consider investing in custom software?
While building custom software is expensive, the return on investment can be well worth it. Remember, however, that significant energy, resources, and time must be dedicated to its development. These tasks associated with custom software may initially make a canned solution seem like the smarter idea, but there are several reasons to reconsider:
Why should you consider using canned solutions and not developing your own software?
Under certain circumstances, sticking with canned solutions may be the more sensible option. Smaller business in particular may benefit more by going this route after taking the following factors into account:
How can custom software help scale your company?
Your business is a dynamic, evolving organization, so it make senses for your software to adapt and grow with your company as well and not remain static. If you do anticipate your company growing at a fast rate, here are a number of ways custom software can help make your business more scalable:
Despite its initial costs, custom software is well worth the resources it requires if you are hoping to build a business of meaningful scale. Building your own software that is specifically tailored to your company’s needs, as well as focused on scalability and efficiency, can help mean the difference between offering a commoditized service and offering a highly differentiated one at a better price.
HQE Systems Inc: A certified Service Disabled Veteran Owned Small Business (SDVOSB) that is bettering the quality of life for small business owners and their customers through developing innovative software and online marketing solutions. Located in Temecula California and operated by Veterans and capable software developers!
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