Enterprise software development has been witnessing the best ever form of its existence. Global businesses are not just seeing digital transformation as the need of the hour, but also adopt it for fear of lagging in the competitive curve. No wonder, Statista’s recent survey states that spending on enterprise software and related technology is anticipated to grow around 10.5% in 2020.
With their potential to cut down business costs, cutting-edge software solutions are seen as one of the speediest growing sectors. Organizations count software solutions as an aid that helps them win, serve, and retain customers better. Therefore, as predicted by Forrester, CIOs are expected to shift nee project investments to back-office technologies that help them cut operational costs and optimize investments.
Regardless of how vital it is, enterprise software development isn’t as easy. There are a lot of challenges that you may encounter along the way. Today, we are talking about such problems and how we can overcome them.
1. Delivering Stunning Customer Experience without Affecting ROI and Cost
The Digital era calls for delivering brand value via great experiences. More than just application features, it is seen as a valuable source for businesses to entice consumers and win their loyalty. After all, who doesn’t love using an application that makes finding partners as easy as swiping on the screen?
Let’s accept: We all do.
However, the case is not the same when it comes to enterprise software. With a lot of investments at stake, business solutions are not just required to deliver the right experience but also ensure employee productivity and efficiency. Enabling such experiences demand huge investments and, of course, time.
Imagine having to use a system where you need to update inventory manually every time individual purchases are made with your store, or new items are added. On the contrary, imagine working with a system where AI-driven software is there to help you manage various aspects of an inventory. While the first option may seem monotonous after a point of time, the second will not just enhance productivity but will also ensure long-term relevance.
The answer is clear- Investments in the right technology to deliver excellent user experience may invite higher expenses but prove to be cost-effective in the long run. Pretty much like how Boing’s investment in AR reduced time spent in doing particular tasks by 30%. Similarly, Walmart’s investment in VR tech to train employees boosted employee retention by 10%.
2. Return on Investment in Custom Enterprise Solutions
If you are a businessman, profits lie at the heart of your endeavors. Each investment calls for considerable calculations to measure returns to channel further strategies.
Measuring ROI of the consumer apps isn’t just simpler but is also in most of the instances towards the positive rise. Such apps take you closer to your customers and help you communicate your business value better. And that, in turn, brings more profits.
However, that’s not the case with custom software development (at least what the myth says).
Talking with experts, the results are just the opposites. Researches and studies have proven that custom software development proves to be cost-effective in the long term. This is because such solutions don’t bring direct profits, but benefit businesses with less turnaround time, better employee retention, and higher productivity. This allows for optimized investments, and therefore, better returns in the long run.
3. The Choice Between Custom Software and Off-the-Shelf Alternatives
Off-the-shelf software seems to be the most convenient option for enterprises to choose from. Top drivers include:
- No need to build from scratch
- Cheaper than development
- No need to spend on training costs
- Support and maintenance
However, custom software offers plenty of benefits regardless of being expensive and effort-consuming initially.
- First of all, you don’t have to pay for the features that are not useful to you.
- You can find software that’s tailored to your requirements
- You don’t have to build your operations around the functionality of the software you choose.
- You can make changes based on dynamic requirements
Additionally, with off-the-shelf software one has to integrate multiple systems in order to pursue various tasks, you need an independent software each for managing inventory, recruitments, accounts, and every such task for that sense. That’s not the case with custom software. One can integrate as many systems as needed and bring entire management under one single screen.
Given so many benefits, the only drawback that comes in the form of cost zeroes out with the long-term ability to deliver cost efficiency.
4. Ensuring Network Security
With a lot of valuable company information at stake, CIOs face ongoing pressure to ensure prime network security.
However, the more exposed your network is to the external world, the higher is the vulnerability of potential cybersecurity risks. However, if you want to find an IT initiative to manage entre organization, the right place, to begin with, is security.
The best solution is to hire an expert enterprise development company who is capable of offering you a reliable network infrastructure powered by cutting-edge security tools along with robust access-controlled mechanism.
5. Ditching Legacy Systems to Embrace the Change
According to Gartner, 82% of the CEOs have already pursued digital transformation, while 77% plan to increase their investments in digital initiatives.
Many businesses still function on their legacy systems, partially or entirely. And that builds up another challenge among the CIOs and IT leaders, where they find it hard to merge legacy systems with modern technologies without compromising with functions and security.
However, given how digital transformation plays a crucial role in your businesses, it’s the need of the hour. And in the league, the “extend-and-surround” approach offers a great solution. It lets you develop new features around the existing systems and gives you the option to continue with everything that works and ditch everything that doesn’t.
Manage Your Enterprise Development Challenges with Us
Want to modernize your legacy enterprise systems? Contact Matellio and let your plans meet execution with us. Our experts are not just skilled but have significant exposure to working with businesses across the globe, sizes, and industries. Therefore, we closely understand the dynamics of various businesses helping you make the best of our expertise. Our business consultants reach out to you within 48 working hours and offer free consultation while understanding your requirements and providing the best solution.