Great software is at the intersection of a Venn diagram of three things: knowing it’s aligned with your business needs, streamlined processes, and improved KPIs. There are plenty of types of software as well as the problems they solve. Everything depends on what your needs and goals are. Below, we share 4 benefits of IT software solutions for each and every industry.
1. Makes Your Business More Agile
The ‘achieving business success’ phrase makes it sound like a calling is a pot of gold at the end of the rainbow — you achieve it, and the story’s over. But you certainly know that building a successful company and achieving business success is an ongoing process that never ends. And in the highly competitive markets that we see today, being agile is an absolute necessity.
Custom IT solutions are here to help as they’re specifically tailored to your business goals. They allow companies to remain agile and quick to respond to change within the industry. Faster product launches, better quality innovations, and improved product features will drive your business growth.
One of the most important advantages — which we’ve got covered in this article — of customized IT software is scalability. It means that companies can modify or add to their capacity as they expand. At the very beginning of the development, those solutions are designed with specific infrastructure and implementation needs in mind.
2. Brings You Greater Return on Investment (ROI)
Return on Investment is one of the most important profitability metrics to take into account. When choosing between a custom IT solution and off-the-shelf option, evaluate your needs and realize that cheaper may not mean better. Ready-made software may have an initial cheaper up-front cost, but it additional will have a recurring cost — whether monthly or yearly. While custom software could have high development and initial implementation costs, it doesn’t require recurring payments, is easily scalable and could be a perfect match for your business. All of this makes it far less expensive over time and provides greater return on investment.
3. Enhances Your Data Security
Data is the new gold and we’re all aware of the importance for any business to keep it safe and secure. Yet sometimes even big companies fail at it. Do you remember when Facebook couldn’t encrypt and keep private passwords of over 600 million users? Negligence isn’t the only reason why data breaches happen. Cybercriminals have leveled up. They are well organized and can cost small and medium businesses approximately $3.92 million in damages each year.
Custom IT solutions can enhance your security and prevent these types of breaches. Instead of relying on third party syncing, storing and processing your data, you have complete control over it. The combination of Big Data, Artificial Intelligence (AI) and Machine Learning (ML) can identify cyberattack patterns and find ways to prevent them by analyzing the previous attacks. The implementation of such software means the highest security level and alignment with your business needs.
4. Improves Customer Experience You Provide
The ultimate goal of every business is client satisfaction. Happy clients buy more, complain less, and are ready to share their positive experience with significant ones. Numbers speak for themselves:
- According to HubSpot, 68% of consumers are willing to pay more for products and services from a company known to offer good customer experiences.
- SalesForce’s research reveals that nearly 90% of customers are ready to buy again after a positive interaction with a company.
- Qualtrics XM Institute reports that good customer experience has a solid impact on recommendation. Consumers who are satisfied with their client’s experience are 38% more likely to recommend the product or service.
Investing resources in improving experience for your customers is worthwhile simply because retaining existing clients is between 5 and 25 times cheaper than attracting new ones. (Invesp)
Custom IT solutions are able to get to know your clients better–and make every interaction with them meaningful. For example, with Machine Learning algorithms you can segment your buyers, mapp out their journey, and even predict when they are more likely to make a purchase. The data collected will give your company priceless insights about their behavior so you can use them to adjust your marketing strategy and product vision.
Why Developing Custom IT Solution With Softarex
What happens when talented IT specialists come together around the mission of making the impossible possible? 2 words: Great Software. At Softarex, we create great software for industries like Hospitality, Aviation, Healthcare, Finance and Manufacturing since 2000. Do you have a business problem that needs to be solved? Feel free to reach out to us and take a look at our portfolio.
